19 May

The cryptocurrency market digest (BTC). Overview for 19.05.2023

May 19, 2023

By RoboForex.com

The BTC rate on Friday remains near 26,930 USD. The weekly growth is 2.5%.

The lack of consensus between the US Congress and the White House on the public debt issue is making investors cautious. As the correlation between the Nasdaq and S&P 500 indices and the BTC is restored, everything happening in the US stock market is directly connected.

The support level of 26,500 USD is still watched closely. It is important for the market to secure above 27,000 USD to develop an uptrend towards 29,800 USD.

The capitalisation of the crypto market remains at 1.124 trillion USD. BTC’s share has decreased to 46.3% and ETH’s share to 19.3%.

MicroStrategy is interested in Bitcoin Ordinals capabilities

MicroStrategy is exploring the potential of the Bitcoin Ordinals protocol to effectively use an innovative approach. This protocol is widely used for issuing NFTs, but MicroStrategy believes that its potential is much broader.

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Lagrange Labs has raised 4 million USD

Lagrange Labs startup has raised 4 million USD in the pre-seed funding round for the development of the ZK system. The fundraising was led by the 1kx company. The ZK idea involves secure communication between different blockchain networks.

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.


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