Connect with us

Bitcoin

Bitcoin [BTC] Technical Analysis: Bull leads the coin towards the top of the mountain

Namrata Shukla

Published

on

Bitcoin [BTC] Technical Analysis: Bull leads the coin towards the top of the mountain
Source: Pixabay

The new year has been merciful to many major cryptocurrencies as they registered growth, making the market green. The world’s largest cryptocurrency, Bitcoin [BTC], at the time of press, rose by 3.14% over the past 24 hours.

The coin was valued at $3,881.89 with a market cap of $67.7 billion. The coin registered a 24-hour trade volume of $4.8 billion with a hike of over 2% over the past seven days. The coin is still climbing up the hill with 0.82% over the last hour.

1-hour

Source: Trading View

Source: Trading View

As per the one-hour chart of BTC, the coin observed an uptrend from $3814.61 to $3904.83, followed by a downtrend from $3914.04 to $3724.04. The coin is offered support at $3664.31, with immediate resistance at $3841.90.

Parabolic SAR hints towards a bullish market as the markers align under the candlesticks.

Awesome Oscillator indicates a bullish market gaining momentum.

Chaikin Money Flow points above zero, marking a bullish market.

1-day

Source: Trading View

Source: Trading View

The one-day chart of the coin points towards a massive fall from $6146.01 to $3195.71. A minuscule uptrend was noticed from $3184.28 to $3691.87, with a resistance marked at $4075.34. BTC was offered support at $3184.28.

Bollinger Bands appears to be at a diverging point, indicating increased volatility in the market. The moving average line is under the candlesticks, thus marking a bullish market.

MACD line is above the signal line hinting towards a bullish market.

Relative Strength Index indicates that the buying and selling pressures are evening each other out.



Conclusion

According to the indicators, Awesome Oscillator, Parabolic SAR, Chaikin Money Flow, MACD line and, Bollinger Bands, a bullish market is predicted.



Follow us on Telegram | Twitter | Facebook



Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

Ripple

76467|Ripple partner SBI Holdings announces foray into mining space; will compete with giants Nvidia and Bitmain

Published

on

Ripple partner SBI Holdings announces foray into mining space; will compete with giants Nvidia and Bitmain
Source: Pixabay

SBI Holdings, Inc. announced the establishment of its chip mining arm, the SBI Mining Chip Co., Ltd or SBIMC. With this development, the Tokyo-based firm will foray into the manufacturing of mining chips, a strategic move to enhance its existing digital asset business.

The official notice issued by the financial giant stated that the SBI Group practiced its digital asset mining business overseas, and now planned to diversify its potential business scope.

SBI group partnered with a US-based semiconductor firm to roll out the new manufacturing unit. The group, which is a strong advocate of a wide range of businesses based on blockchain elucidated,

“The SBI Group will promote efficient, reliable and sustainable mining operations to develop a sound and solid cryptocurrency market.”

SBIMC will be led by Adam Traidman, who was an investor in the company and also served at NASA previously. Among his many accomplishments, Traiman formerly served as the CEO in Chip Estimate and WearSens.



SBIMC will be leading chip manufacturer, Nvidia’s latest competitor. The Taiwan-based firm sustained losses during the crypto-winter, but it recovered after the recent acquisition of Mellanox, a semiconductor player. The Bitcoin mining giant, Nvidia, had predicted a bullish crypto market was confident of clearing its stockpiled mining equipment. The chipmaker was also reported as the worst performer in the S&P 500 list, at the end of 2018.

Another big rival in the mining ecosystem is Bitmain. The Beijing-based mining giant has also been operating poorly after registering a loss amounting to $500 million, owing to the massive crashes in cryptocurrency prices.

Continue Reading

Bitcoin

76216|Anthony Pompliano’s Morgan Creek Digital Capital makes strategic investment propagating mass crypto adoption

Akash Anand

Published

on

Bitcoin [BTC] proponent Anthony Pomplaino's Morgan Creek Digital Capital makes new strategic investment to propagate mass crypto adoption
Source:Pixabay

The cryptocurrency market was helped along in its pursuit of mass adoption, with many proponents of the space lending a helping hand. The latest news about the bigger players in the cryptoverse included the tie-up between Morgan Creek Digital Capital and Ikigai Asset Management.

The official release stated,

“Morgan Creek Digital announced today that it will be the lead anchor investor in Ikigai Asset Management’s flagship fund focused on executing systematic and fundamental liquid hedge fund strategies as well as opportunistic venture-stage crypto asset investments. Ikigai is a crypto asset management firm launched in December 2018 by former Point72 Portfolio Manager Travis Kling and partners Timothy Lewis, and Anthony Emtman.”

Morgan Creek Digital partner, Anthony Pompliano, is a voracious supporter of Bitcoin, and has held a bullish viewpoint about the world’s largest cryptocurrency. Post the partnership with Ikigai, Pompliano talked about the company’s  positive devleopments, and claimed that they were well-positioned to capture the outstanding returns brought by cryptocurrencies in the coming future.



Ikigai Chief Investment Officer Travis Kling said,

“DLT and crypto assets are fundamentally changing our world. We are honored to receive this investment from Morgan Creek Digital and look forward to working closely together with Mark, Jason, and Pomp in this exciting arena.”

Pompliano recently sat down with Galaxy Digital’s Mike Novogratz to discuss elements like liquidity, trust and custody that need to be given a boost. Novogratz stated that the cryptocurrency market was presently a booming place of business, especially with the entry of companies like JP Morgan, Telegram and Facebook. He further claimed that it was a big opportunity to invest, with Wall Street sentiments changing. The Galaxy Digital CEO added,

“Wall street earlier thought that you shouldn’t take risks on something small like cryptocurrencies. They are getting close though, not doing anything but are getting really ready. We are anyway working hard on the security token business and I promise you this, the upcoming tokens and ICOs will be a lot bigger but less sexy.”

 

Continue Reading

Trending