What is Bitcoin?
Bitcoin could be a digital currency created in Jan 2009. This follows the mysterious and names Satoshi Nakamoto’s plan in an exceedingly report. The identity of the person who created the technology remains a mystery.
Bitcoin is expected to offer lower transaction fees than traditional online payment mechanisms. Unlike government-issued currencies, is operated by a decentralized institution. Bitcoin is a cryptocurrency.
What is Ripple?
Ripple is a digital payment network technology that can be used for both cryptocurrencies and financial transactions. First released in 2012, it was co-founded by Chris Larsen and Jed McCaleb.
Bitcoin’s $ 60,000 express train wasn’t on track today and hit a record high this week.
There were four attempts to push prices up on Saturday. But each encountered a strong resistance of $ 59,400, with Bitcoin finally falling below $ 56,000.
Failure to break through last Saturday’s high of $ 61,701 reveals. Also potentially serious weakness in the recent surge in the original cryptocurrency. Its bright protection is beginning to show the potential for bearishness.
There is a lot of selling pressure on some platforms, and on these platforms. It seems that Bitcoin (BTC) open positions are declining as purchases decline.
Cryptocurrencies have the former form of this activity. Historically, it breaks down into modifications or mergers that appear as periods of continuous lateral movement.
This bearish BTC signal reflects the progress of the flagship. So it also reflects the essence of altcoin (a cryptocurrency other than Bitcoin).
For now, this seems to work, as the usual suspects (ETH, LTC, BNB) seem to be following.
However, a notable exception to this rule seems to plague XRP. Ripple’s native coin (whose creator is currently playing his own trial drama) seems determined to go against the trend.
Ripple CEOs Brad Garlinghouse (Brad Garlinghouse) and Chris Larsen (Chris Larsen) confront. The US Securities and Exchange Commission (US Securities and Exchange Commission). But the future is full of uncertainty. Also that The army of believers seems to lose nothing Confidence in the project.
Bend of Bitcoin
Cryptocurrencies (very popular in the US and UK) were on a steady uptrend when news of imminent proceedings first appeared.
The SEC accused the organization of being unregistered. Its weight was sufficient to reduce XRP. But the support of thousands of XRP followers has put it back on track. Today, its transaction price has returned above 50 ° C.
It is not yet known if the internal support is sufficient to resist Bitcoin’s gravity. And that depending on the direction of the compass that the BTC will follow in the next few days.
US Treasury yields and whale movements can also play an important role in cryptocurrency navigation.
Strong yields help investors deal with the risky market recession caused by listening to safe assets. There are signs that this may have happened after the whale transferred a large amount of Bitcoin last week.
While many factors need to be emphasized when analyzing the cryptocurrency market. So there are few factors related to the potential trends of Bitcoin and in many cases. It is not possible to rely on the historical data itself.
But what is certain is that the height of the chart lines. And trading volume columns undoubtedly show that Bitcoin’s rise has slowed significantly. So Ripple made waves and Bitcoin fell to the bottom.
Of course, lack of trading volume, strong bond yields, and whale-raising moves may be entirely coincidental. But no matter which stroke Bitcoin chooses in these rough waters, it will swim against the tide. I can see.
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