The cryptocurrency market digest (BTC). Overview for 06.06.2022

June 6, 2022

Article By

On Monday, the BTC is growing, though yesterday the market had its doubts about this being possible. Main movements concentrate around $31,181. $29,000 remains an important threshold. Any steps over it downwards will become a bearish signal for a decline to $28,000, from where there will be a lot of chances for falling to $20,000. At the same time, there is evidence of a wave of growth forming. If the crypto manages to secure above $31,500, the way to $32,300–$32,700.

However, it must be acknowledged that current growth looks fragile. There is, indeed, evidence of the correlation with the US stock indices breaking down, yet this also provokes questions. All in all, it would be wise to keep an eye on the market and avoid decisive actions.

Chipotle: fast food can be paid for in crypto

Digital assets, meanwhile, are getting incorporated in our daily lives deeper and deeper. For example, one of the world’s largest fast food chains, Chipotle, is now accepting payments in crypto via the Flexa platform. An app will let clients pay for their orders in any of the 98 cryptocurrencies available, including ETH and BTC. The app requires downloading Gemini or the SPEDN platform for digital money storage.

The fact that daily goods can now be paid for in crypto can make digital money more attractive to users.

Buterin: banning PoW is a bad idea

Ethereum creator Vitalik Buterin criticised the ban imposed on carbon-produced electric crypto mining by the state of New York. He states that charging fees for carbon emissions would be more efficient so that part of the money could be used for compensations to people with low incomes.

Last week, the Senate of New York imposed a ban on mining for two years.

Article By

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.