Is Bitcoin's vertical rally in danger? Why $30K isn't the only level to watch
The price of Bitcoin may see its monster rally continue if new technical support levels are confirmed. Bitcoin (BTC) had a tremendous 2020 as the BTC price rallied by 311% in 2020. In the shadows of Bitcoin, Ether (ETH) has also been seeing a fantastic year as Ether’s price rallied by an even bigger 475%. While only five days into the new year, ETH is continuing this trend. Bitcoin vs. Ether January 2021 performance. Source: Digital Assets DataBitcoin breaking new all-time highs above $30,000 has sparked a massive rally fire that is now spilling over to altcoins. However, the question now....
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XRP price must break a key resistance level before $1.00 becomes a real possibility. While Bitcoin (BTC) is facing a potential new all-time high, other coins are showing strength as well. One of those coins is XRP, which has been going vertical in the previous weeks. XRP’s price surged from $0.22 to a high of $0.78 during the month of November, which immediately ended up in a massive correction towards $0.45.Let's take a look at the XRP price charts to determine whether this was an entry opportunity before the next leg up.The crucial zone around $0.45 holds as supportXRP/USDT 1-day chart.....
Ethereum is accelerating toward its highest valuation ever. Bitcoin (BTC) is currently approaching $40,000 after seeing massive gains in the first seven days of 2021. This is a 100% move up from the previous all-time high in December 2017. In other words, the price levels it took Bitcoin three years to recoup have now nearly doubled in a matter of weeks.ETH, BTC price gains, January 2021. Source: Digital Assets Data Meanwhile, the price of Ether (ETH) has surged by more than 100% in three weeks. However, it has yet to break its all-time high of roughly $1,420 set on Jan. 13, 2018.....
Ethereum has been caught in a wild bout of turbulence these past few days, primarily because of its recent breakout rally that allowed it to gain serious ground against Bitcoin The cryptocurrency has been able to flip the crucial $1,000 level into support, and bulls are in the process of defending it presently It is imperative that bulls can continue defending this level in the near-term, as any dip below it could lead to a […]
The price of Ethereum's Ether is continuing to show weakness against Bitcoin despite its latest rally above $400. While Bitcoin (BTC) is showing strength through new higher highs and making a new yearly high, Ethereum's Ether (ETH) shows weakness, particularly the ETH/BTC pair.ETH weakness is also a clear indication that most altcoins are not showing strength either since they tend to reflect Ether's performance. The 0.03 sats level is a crucial barrier to hold ETH/BTC 1-day chart. Source: TradingViewThe daily chart of ETH/BTC shows a clear rejection at the 0.0325 sats level, through which....
India’s central bank, the Reserve Bank of India (RBI), sees cryptocurrencies as “a clear danger.” However, the financial stability risks posed by crypto assets currently appear to be “limited.”
RBI on Crypto’s Danger and Financial Stability Risks
The Reserve Bank of India (RBI) released the 25th issue of its Financial Stability Report (FSR) Thursday. RBI Governor Shaktikanta Das wrote:
Cryptocurrencies are a clear danger. Anything that derives value based on make believe, without any underlying, is just speculation under a....