CRYPTONAIRE WEEKLY MAGAZINE 201ST 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 Securitie 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.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE INSURACE.IO: AN INNOVATIVE DEFI PROTOCOL TO SECURE YOUR CRYPTO INVESTMENTS DEGETHAL: AN INNOVATIVE PROJECT IN THE CRYPTO MARKET RADIOLOGEX: WILL IT BE THE BIGGEST STO IN 2021? BONDEX IS CREATING A BLOCKCHAIN-DRIVEN NEXT-GEN TALENT MANAGEMENT AND ACQUISITION PLATFORM
The crypto markets sold off on September 24 on news that China’s central bank, the People’s Bank of China, warned of a harsher crackdown on services such as trading, order matching, token issuance and derivatives for virtual currencies. Although the ban was not new and has been in place since 2017, the prevailing negative sentiment could have led to the knee-jerk reaction to the downside.
We had warned that Bitcoin could face selling near the 20-day exponential moving average (EMA) and that is what happened. The bulls tried to push the price above the 20-day EMA on September 24 and again on September 27 but failed. However, a minor positive is that bulls have successfully defended the 100-day simple moving average (SMA) for the past few days. This indicates accumulation at this support. Hence, this becomes an important level for the bears to break.
If that happens, several stop losses may trigger and the bearish momentum could pick up. The BTC/GBP pair could then slide to the support line of the descending channel pattern.
A break and close below the channel will indicate panic selling and that may pull the price down to £22,000. This bearish view will invalidate if bulls drive and sustain the price above the channel. The pair could then rise to £35,525 and later to £38,000.
As the trend is down and a firm bottom is not in place, we are not proposing any trades.
Lastly please check out the advancement’s happening in the cryptocurrency world.
Enjoy the issue!
Featuring in this weeks Edition:
- bitcci
- Artex
- Asia Broadband
- RMRK
- Insurace
- Bondex
- Radiologex
- Omnia DeFi
- DeGeThal
- MELD
Read More
CRYPTO TRADE OPPORTUNITIES
Institutional investors bought the dip as China FUD broke
Snoop Dogg Buys XCOPY Ethereum NFT for $3.9 Million
Investors See Latest China Ban As Opportunity To Scoop Up More Crypto
Google, the most popular Bitcoin trend indicator, turns 23
WELCOME THE FUTURE OF ARTS
ASIA BROADBAND INC. SETS SIGHTS ON EL SALVADOR FOLLOWING PLATINIUM CRYPTO ACADEMY RENEWAL
INSURACE.IO: AN INNOVATIVE DEFI PROTOCOL TO SECURE YOUR CRYPTO INVESTMENTS
RADIOLOGEX: WILL IT BE THE BIGGEST STO IN 2021?
DEGETHAL: AN INNOVATIVE PROJECT IN THE CRYPTO MARKET
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