Currently, Bitcoin is holding almost 60 percent (58 percent) of the entire crypto market. The rise has been stirred by an increase in interest of Bitcoin futures on the CME. Recovering from last year’s lows has also contributed to the hashrate to an upsurge in the hash rate of on the Bitcoin blockchain. The price analysis for Bitcoin shows a bullish trend ahead.
A survey by Kaspersky Labs revealed that, by the end of 2018, 19% of people across the world had bought cryptocurrencies. Brad Garlinghouse, CEO, Ripple, even considers Bitcoin to be a store of value.
However, the Reserve Bank of Australia sees no threat from virtual currencies although it admits that this will only hold if the traditional financial structure stay vibrant.
Analysis for Bitcoin
After a bearish momentum in 2018, Bitcoin has gained momentum moving past $10,000 and reaching $ 11,000. Both the RSI and the moving averages have a positive indication. For instance the RSI is shifting towards the overbought zone and the moving averages are on an upward trajectory. If the bears defend the overhead resistance zone, a 20-day EMA fall can be witnessed.
Binance Coin (BNB)
Binance coin has risen again over the overhead resistance of $38.6463356, and it’s facing stiff resistance in the crypto market. Both the moving averages are moving upwards, and the RSI is close to overbought zone. This is an indication that the buyers have the upper hand.
Ethereum has broken out the overhead resistance at $280, this signals an upward trend. The next level on the rising trend is $322.06 and above it $335. A bullish momentum is already being formed with the moving average moving upwards, and the RSI diverting towards the overbought level.
Do you think the price of Bitcoin (BTC), Binance (BNB) and Ethereum (ETH) will continue rising before the end of this month?
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