Bitcoin Today: still rising
Price
The market showed a dip to the 7300.0 yesterday, but it was quickly picked up, and the price returned back to the 7500.0 level. Average trading volumes of last three days are gradually uptrending, though the growth is not drastic the important at least hold on one level. Breakthrough of the 7600.0 resistance is required to continue bullish movement. Two rising days formed a Bullish Trend Line, which will serve as a support for the uptrend. Next big resistance on the way up will be 8000.0 level. Breakthrough below the Trend Line and further dive under 7200.0 level will dismiss a rising scenario.
Today forecast
Trading in the 7500.0 – 8000.0 zone. The upward impulse to 8000.0 is possible.
Latest news
The market showed a dip to the 7300.0 yesterday, but it was quickly picked up, and the price returned back to the 7500.0 level. Average trading volumes of last three days are gradually uptrending, though the growth is not drastic the important at least hold on one level. Breakthrough of the 7600.0 resistance is required to continue bullish movement. Two rising days formed a Bullish Trend Line, which will serve as a support for the uptrend. Next big resistance on the way up will be 8000.0 level. Breakthrough below the Trend Line and further dive under 7200.0 level will dismiss a rising scenario.
Today forecast
Trading in the 7500.0 – 8000.0 zone. The upward impulse to 8000.0 is possible.
Latest news
- Korean Supreme Court Rules Cryptocurrency Is Asset With Economic Value. South Korea’s top court ruled on Wednesday that the government could confiscate cryptocurrencies as crime profits since they are assets with economic value.
The case involves Ahn, who operated an online porn site, and his 191 BTC that the prosecution confiscated, as news.Bitcoin.com previously reported. “This marks the first time a cryptocurrency has been subject to confiscation,” the Korea Times wrote. - Ripple CEO says that correlation between Ripple and Bitcoin will decrease. Bitcoin’s influence over the prices of all digital assets may start to wane soon, believes the CEO of Ripple, Brad Garlinghouse. In 2018, altcoins mostly rallied in lockstep with Bitcoin, with rare exceptions. However, the trend may soon turn, as market participants realize the fundamental differences between Bitcoin and other digital assets.
"There's a very high correlation between the price of XRP and the price of bitcoin, but ultimately these are independent open-sourced technologies," Garlinghouse said in an interview for CNBC’s Power Lunch.
"It's early, over time you'll see a more rational market and behaviors that reflect that," Garlinghouse said.
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