STOCKS TELEGRAPH

Tag: BTC Coin

  • Bitcoin (BTC) Technical Analysis: 22 April

    Bitcoin (BTC) Technical Analysis: 22 April

    The market sentiment for Bitcoin (BTC) has turned bearish ever since the cryptocurrency established its all-time high at $64,863. In the 24-hour timeframe, Bitcoin started off the day at $53,399 but the bears quickly drew the cryptocurrency to the daily low of $52,657. Bitcoin remained on an uptrend for a while and established the 24-hour high at $54,850 but fell, subsequently. At the time of writing, Bitcoin stands at $52,500.

    Bitcoin (BTC) Technical Analysis

    The technical indicators stand at a neutral position. Bitcoin had been operating in an ascending channel formation with the upper boundary of the channel acting as strong resistance. After completing an Elliot wave, the bearish divergence of the coin intensified and instead of a pullback from the lower boundary of the resistance level, Bitcoin broke out of the channel to the downside. The bearish pressure on the cryptocurrency is also indicated by the 50 Moving Average. Bitcoin has fallen below the 50 MA level – hinting protracted bearish divergence.

    The immediate resistance level lies at 1.618 Fibonacci level parallel to the price level of $55,000. The weekly closing of $60,000 is another major resistance which lies parallel to the 0.5 Fibonacci level. While strong support can be found at $50,755 – at the 2.168 Fibonacci level.

    The future predictions for the cryptocurrency are not optimistic as the market for Bitcoin is in the grips of bears. The cryptocurrency may settle near the support level or if a trend reversal is spotted then the first major resistance level will be a viable price target.

    Bitcoin transaction fee has hit a new record high at $59.87 according to BitInfoCharts. The transaction fee has surpassed the high of the 2017 bull run as well which stood at $55.17. While the high transaction fee suggests an increasing traffic on the block chain, it can also result in a subsequent decrease in the number of transactions on the block chain which appears to be waning.

  • Best Cryptocurrencies to Watch in 2021

    Best Cryptocurrencies to Watch in 2021

    With the pandemic starting in 2020, cryptocurrency stocks have seen a new interest as the world has started to see a larger appeal in digital currency and Bitcoin has been at the forefront of everyone’s mind. With the start of the new year, cryptocurrency stocks have gained a lot more traction and reached past the $20,000 and $40,000 marks in a short amount of time. Earlier, an investment of $1.5 billion was made by Tesla into Bitcoin, which once again gave it the boost it needed with it breaking its $50,000 high mark. Some of the best cryptocurrency stocks expected to keep rising this year are:

    Bitcoin (BTC)

    It’s hard to talk about cryptocurrency without mentioning the cryptocurrency giant Bitcoin which has been dominating the market since the start of 2009. BTC suffered in 2018 but it proved itself strong to recover and surge higher than $40,000 in the start of this year with a market cap larger than $1 trillion. Bitcoin also has the edge with being the biggest known name in the world of cryptocurrency which makes it attractive to new buyers. Bitcoin has also been the inspiration for Bitcoin creators to introduce new features like Bitcoin Cash.

    Stellar Lumens (XLM)

    Like Bitcoin, Stellar (XLM) has also made a big comeback this year after its previous struggles and has come through with new and interesting projects such as its most recent $5 million investment in Wyre, a dominant blockchain payment provider which let Stellar access to new currency pairs. XLM has even been preferred as the blockchain for Ukraine’s central bank. With the way Stellar has been dealing with savings and compliance accounts such as Wyre, it has seen 260 per cent more growth of its users and this could lead to it becoming a new Pay Pal company.

    Chainlink (LINK)

    Chainlink is an Ethereum platform which works between two parties engaging in a blockchain network and records the transaction into data blacks. While a lot of other platforms working these transactions need to use real data to execute smart contracts, Chainlink has come up with the innovative solution of using oracles to revive the needed data for the network while ensuring that the data stays safe for the smart contracts. With the confidence the platform has been gaining, it is become a top choice for cryptocurrency and decentralized finance is also contributing to this.