CRYPTONAIRE WEEKLY MAGAZINE 208TH EDITION IS OUT NOW
The #1 CRYPTO TRADING MAGAZINE
Despite the slight downturn, the institutional adoption of Bitcoin continues to increase. Filings with the United States Securities and Exchange Commission show that four wealth management firms have bought shares in Grayscale’s Bitcoin Investment Trust.
A survey of about 42,000 people in 27 countries by product comparison website Finder showed a high adoption rate in Asia. Among the countries polled, Vietnam had the highest adoption rate at 41%, while India and Indonesia had a 30% adoption rate.
Taproot, Bitcoin’s first major upgrade, since the SegWit (Segregated Witness) block capacity change in 2017, activated on November 14. The latest update enables the blockchain to process smart contracts and improves transaction privacy and efficiency.
Bitcoin broke above the psychological barrier of £50,000 on November 9 and 10 but the bulls could not sustain the higher levels. This may have prompted profit-booking from short-term traders which pulled the price back below the breakout level of £48,426.53 on November 10.
The bulls defended the 20-day exponential moving average (EMA) on November 12 but higher levels again attracted selling by the bears. The BTC/GBP pair turned down on November 15 and the bears have pulled the price below the 20-day EMA today.
If the pair closes below the 20-day EMA, the possibility of a decline to the 50-day simple moving average (SMA) increases. The negative divergence on the relative strength index (RSI) also points that the bullish momentum may be weakening. The selling could intensify if bears break the critical support at £41,931.
This negative view will be invalidated if the price turns up from the current level and breaks above the all-time high. Such a move will indicate that demand remains strong and traders are accumulating on dips.
We do not see any attractive trade setup, hence we have not been proposing any trades for the past few days.
Lastly please check out the advancement’s happening in the cryptocurrency world.
Enjoy the issue!
Featuring in this weeks Edition:
- Feedcoin
- Gining to Services
- RMRK
- Mimir
- Funganomics
- Giving to Service
- Xanto
- 99 Defi Network
- Beatbind
- Smartchem
- Mandala ExchangeRead More
CRYPTO TRADE OPPORTUNITIES
Stablecoin Supply Grows at the Fastest Rate Since June, 6.55 Billion Added in First 10 Days of November
Santander Prepares to Offer Bitcoin ETF in Spain
Robinhood COO praises Shiba Inu as crypto wallet waitlist grows to 1.6M
Taproot, Bitcoin’s Long-Anticipated Upgrade, Has Activated
FEEDCOIN EXCHANGE: THE PRE-SALE NOW LIVE!
EULER: A CAPITAL-EFFICIENT PERMISSIONLESS LENDING PROTOCOL
XAN – A TOKEN WORTH MORE THAN GOLD
THE FUNGANOMICS ECOSYSTEM AND THE NEXT GENERATION NFT PLATFORM FUNGATOPIA
RMRK’s ‘NFT Legos’: the most advanced NFT system in the world!#Feedcoin #GiningtoServices #Xanto #99DefiNetwork #Beatbindmarket
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Topic: CRYPTONAIRE WEEKLY MAGAZINE 208TH EDITION IS OUT NOW (Read 336 times)