From the point of view of Bitcoin, it is easy to reach the threshold of $ 10,000 if the successful breakout of $ 9,800 is reached, Ethereum can soon reach the level of $ 237. Here are some news in the crypto market.
Bitcoin price has surged more than 50% from the low in December 2019 at the threshold of $ 6,400. The bull run has brought Bitcoin back to the 200-day moving average and turned other key resistance levels into strong support.
But before the price of Bitcoin could reach $ 10,000, it was strongly rejected, dropping $ 200 in just a few minutes.
However, after that, the BTC price made another attempt to climb higher as more and more investors participated in bottom fishing. However, the bear continues to hold the cryptocurrency below the $ 9,800 threshold and reverse the ongoing uptrend.
If the bears succeed in defending the $ 9,800 level, the bulls will need to show that the support at $ 9,500 is strong enough to sustain the rally, or if not, another attempt at $ 10,000 may be sustained. delay for a while.
However, if the bulls can hold here and push Bitcoin beyond the $ 9,800 resistance level, then the price will easily cross the $ 10,000 threshold. And if a breakout of this level is confirmed, a strong bullish pattern will take place.
Above the $ 10,000 threshold, Bitcoin will still have to compete with where it was rejected in the summer of 2019, at $ 14,000. Above this level, the only resistance level will be $ 17,000 before the price hits the highest peak at $ 20,000. Beyond those two levels, the limit for Bitcoin, could theoretically reach higher than $ 100,000 into the next bull market.
Bitcoin can reach the threshold of $ 10,000, even $ 15,800
On February 5, the Bitcoin price began to rise slowly from $ 9,200 and reached $ 9,692 by the end of the day, although all TA signs indicated it intended to form a tight trading range.
Earlier this week, Bitcoin reached a peak of $ 9,700 and then reversed, falling to the $ 9,100 area, instead of continuing with the increase. Many experts believe that BTC can reach the threshold of $ 9,582 due to corona virus outbreak in Wuhan city, China.
Currently, BTC has risen slightly higher and is trading at $ 9,658, after withdrawing from $ 9,700, although many in the community anticipate it will continue to rise to $ 10,000 and trader Scott Melker. is one of them.
It also took the stairs down. When I said “I would love to see it take the stairs back up,” I did not really expect it to happen. https://t.co/ItQiHMHwUO
– The Wolf Of All Streets (@scottmelker) February 6, 2020
Besides, trader Filb Filb has stated that Bitcoin may be on the right track to reach the $ 15,800 threshold just before the halving takes place. He defended his position by saying that, on the previous halving, Bitcoin had found a temporary peak at $ 800, a 78.6% Fibonacci retracement level of the bull market before halving:
“We can see that the last peak when the last halving took place was around $ 800, or the 78.6% Fib retreat. Although history never repeats completely, it is likely that this will cause BTC price to reach the threshold of $ 15,800. ”
Filb | Source: Trading View
No altcoin can outperform Bitcoin
According to trader at Adaptive Capital Willy Woo, when it comes to buying cryptocurrencies in the long run, he believes there is little chance for Ethereum, XRP or any altcoin to outperform Bitcoin.
“Investing in crypto assets is a misleading way. It will not be possible for any type of crypto asset to outperform Bitcoin for a long time so in order to make a profit, people need a positive trading strategy. ”
Bitcoin price today | Source: Coinmarketcap
Over the past few days, Ethereum has surpassed $ 200 and increased to the threshold of $ 218. Many people are betting that Ethereum will have a good year of operation and will at least regain an all-time high when prices are in the zone. $ 1,300 area. For now, traders predict that, in the short term, ETH prices will likely continue to grow.
Trader and Ethereum analyst Jack is betting on ETH and thinks it will soon reach $ 237. However, he warns that once that level is reached, the price could drop to $ 166.
$ ETH vs USD reaching towards resistance here
Pull back to $ 166 pic.twitter.com/PGRGbEEPKh
– // Ethereum ack (@BTC_JackSparrow) February 7, 2020
Meanwhile, technical analyst Loma shared the ETH / BTC chart, according to which he predicts ETH is heading towards the $ 225 mark (0.023069 Satoshis).
Maybe Ier about about to lose your mind. pic.twitter.com/0shwijAKft
– Loma (@LomahCrypto) February 7, 2020
On February 3, the price of Ravencoin broke out of the descending wedge pattern. Prices have been rising since then but have failed to break out of the 350 satoshi resistance area.
Technical analyst Lomah Crypto tweeted about Ravencoin's chart showing price moved above the 100-day moving average (MA) and seems to use this level as a support. He said that a breakout of 450 satoshi would help boost prices. If successful, it is expected that the price could quickly rise to 820 satoshi.
01 – Ravencoin
> Wicked onto the 100dMA
> Retesting support
> Above the weekly level ~ 450 and I think we’ll see this really fly. pic.twitter.com/1UU9FqlYfS
– Loma (@LomahCrypto) February 6, 2020
Today, Justin Sun announced that he could finally have dinner with Buffet. As soon as he posted the tweet, the price of TRX began to rise sharply.
Sun explains some details about the meal. He also mentioned that he gave Buffet a pair of Galaxy Note Folds with TRON wallets, each containing 1,930,830 TRX. This number is Buffet's birthday.
Sun has also enlisted TRON's ability to trade by sending more than 45 million TRX between the two devices. Sun added that Buffet was impressed with the transaction speed of TRON.
Amazing dinner w / @WarrenBuffett finally! Thx for your support & advice on how to take #TRON to the next level! Loved our talk on #Bitcoin, @Tesla & #TRON! Glad to support @GLIDEsf as well! C U at # BRK2020 & our reunion meal in 2030! Details below pic.twitter.com/tjulvv2C9k
– Justin Sun (@justinsuntron) February 6, 2020
Despite the uncertainty about regulations and restrictions imposed by the Reserve Bank of India, WazirX, the Indian cryptocurrency exchange recently acquired by Binance, launched its WRX coin on Binance Launchpad . On February 5, 2020, WRX coins are available for direct trading on Binance.
The move was dubbed a major accomplishment for the Indian cryptocurrency industry, as it will likely lead to global recognition. Nischal Shetty, founder of WazirX, said:
“This is good news needed for the Indian community because since the past two years, with the bear market and banking restrictions, the Indian cryptocurrency ecosystem needs a huge spiritual boost.”
– Ruchi Pal ₿ (@ Ruch_9) February 7, 2020
Lisk is a digital currency with a market cap of 41. At the moment LSK is trading at $ 1.42, up 28.23%.
Crypto analyst Michael believes that Lisk is facing a strong uptrend. The goals that he hopes Lisk will aim for are $ 0.114 (1530 Sats) and $ 0.125 (1670 Sats).
Target 3 reached for 76%.
Might continue towards 1530-1670 satoshis, but this is looking good.
Will watch for potential positions to take on retests. pic.twitter.com/NQ9RuKZuUw
– Crypto Michaël (@CryptoMichNL) February 5, 2020
Bitcoin SV news
Bitcoin SV, which was the fork of Bitcoin Cash, had outstanding performance in January, nearly tripling its value in 31 days with a 187% increase.
BSV started the new year at $ 96 and traded almost parallel for almost 10 days before rising sharply. The BSV price suddenly soared to its highest level of the month at $ 414, even its market capitalization surpassed that of Bitcoin Cash.
Besides, a number of other coins have proven to be on the right track at the beginning of the decade with Dash and Zcash also generating profits of over 100% in January.
Looks like it was a great month for cryptocurrencies. The leading crypto of January is $ BSV growing by 187%.
Other winners of the month:$ DASH – 179%$ ZEC – 135%$ BTG – 107%$ IOTA – 89%$ LSK – 89% pic.twitter.com/WFBYgRNV9Z
– Freewallet (@freewalletorg) February 6, 2020
According to calculations by the famous decentralized financial browser DeFi Pulse, the total amount of money locked in all DeFi applications is nearly $ 1 billion. At the beginning of the afternoon on February 5, 2020, an estimated $ 920 million was locked, but by mid-afternoon, it had increased from $ 950 million to $ 970.8 million.
Total amount of dollars locked in DeFi applications Source: Defi Pulse
For the most part, this can be attributed to Ethereum's price increase in recent days, as more than 66% of this amount is stored in ETH. The other important part of this money comes from stablecoins, mostly DAI of MakerDAO.
DeFi's field experienced rapid growth last month. Since December 31, 2019, the amount operated by DeFi applications has increased by 50%.
UK financial watchdog seeks cryptocurrency experts
The regulator said in a post recruitment on LinkedIn on February 6 that, specifically, FCA is looking for a collaborator with crypto expertise to help explain the digital assets under the Alliance's Fifth Anti-Money Laundering Directive. Europe.
Also known as 5AMLD, new rule effective January 10, shows a major effort to address money laundering and terrorism financing across Europe.
Another veteran employee leaves Goldman Sachs
Goldman Sachs Group Inc., financial services company lost one of the top employees on February 5 after the two executives expressed their plans to leave a few days earlier.
Follow information from Bloomberg, partner of Goldman Sachs, Rana Yared plans to leave her position at the company. During his time at Goldman, Yared played an important role in improving crypto financial services.
Starting in 2006, Yared joined Goldman Sachs, while working at the company, Yared also managed and supervised 30 employees.
Korea University issues diplomas stored on the blockchain
Korea University of Science and Technology (POSTECH) has proceed Graduation certificates are stored on the blockchain for new graduates.
Facing the coronavirus threat, the university believes it is no longer safe for students to attend a graduation ceremony. Instead of postponing the event, the government decided to give students the option of issuing an online degree.
On February 7, POSTECH 828 graduates will receive an email with the QR code associated with the diploma stored on their blockchain. Qualifications are created by blockchain-based certification service. Launched in May 2019 by Korean company ICONLOOP, the service allows users to issue, manage and view certificates online via the public ICONLOOP blockchain network.
The Chinese mining farm is shut down due to the coronavirus outbreak
Due to the outbreak of coronavirus in China, the government has taken a series of measures to control the situation. Businesses are affected across the country. People are almost unable to get back to work.
An extraction camp, is being forced close the door due to disease. According to the CEO of BTC.top, Jiang Zhuoer on February 4, all the miners were forced to stop working on one of the mining farms he owned.
Cyber criminals try to spread software that steals Crypto
Follow report, cybercriminals secretly spread malware through a platform to store files online – Bitbucket for computer users. Malicious software is spreading including Evasive Monero Mining Tools, data theft, ransomware, Trojan viruses and IntelRapid cryptocurrency stealing software.
The Bitbucket team has been warned about this and is promptly removing the threat on its platform, but it is reported that more than 500,000 devices have been infected.
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