The BTC on Monday saw an increase to 28,272 USD. The weekly rise in the leading cryptocurrency amounts to 2.18%.
It should be noted that over three weeks starting on 23 March, trade volumes of the BTC have dropped almost five times, currently being about 75 thousand BTC a day. This fact might be a sign that the market is ready for a new rally. The quotes have been stuck in a rather narrow range for quite long, and this could also trigger nervous moves and attempts to break the resistance.
The technical picture of the BTC remains favourable, facilitating the return to 30,000 USD. The support is at 26,500 USD.
The capitalisation of the crypto market by today has risen to 1.185 trillion USD. The part taken by the BTC has increased to 46.2%. The part occupied by the ETH has dropped to 18.9%.
Capacity of Cardano network will grow
After the Ouribiros Leios update of the Cardano network, the speed of transaction processing must increase ten times. This can happen through the activation of nods that have not been used yet. They will get the function of making computations between blocks, while the result will be stored in the next blocks.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Coinbase will integrate The Lighting Network
The management of the Coinbase crypto exchange confirmed their plans to add The Lighting Network protocol on the trading platform. This can speed up transactions and make them cheaper. The integration is scheduled for the nearest future.
Article By RoboForex.com
Attention!
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.
- The Dollar Index strengthened on Powell’s comments. The Bank of Mexico cut the rate to 10.25% Nov 15, 2024
- EURUSD Faces Decline as Fed Signals Firm Stance Nov 15, 2024
- Gold Falls for the Fifth Consecutive Trading Session Nov 14, 2024
- Profit-taking is observed on stock indices. The data on wages in Australia haven’t met expectations Nov 13, 2024
- USD/JPY at a Three-Month Peak: No One Opposes the US Dollar Nov 13, 2024
- Can Chinese Tech earnings offer relief for Chinese stock indexes? Nov 13, 2024
- Bitcoin hits an all-time high above $88,000. Oil remains under pressure Nov 12, 2024
- Brent Crude Stumbles as Market Sentiments Turn Cautious Nov 12, 2024
- Bitcoin hits new record high just shy of $82,000! Nov 11, 2024
- The Dow Jones broke the 44 000 mark, and the S&P 500 topped 6 000 for the first time. The deflationary scenario continues in China Nov 11, 2024