It’s been 10 days since Bitcoin has tested the $12K resistance level for the second time. Although traders are bullish about the oIt’s been ten days since Bitcoin has tested the $12K resistance level for the second time. Although traders are bullish about the ongoing short term trend of Bitcoin, the long time investors are getting impatient and anxious. However, Since the price of Bitcoin has been around this major resistance line for a while, it can be interpreted that sellers are not showing enough pressure to push down the Bitcoin price further. Kraken crypto exchange released a report indicating that bitcoin may be getting ready 50 up to 200 percent. This would break through the doors for the next bitcoin bull market.
According to the CEO of Global Macro Investor: “Super early days for what is likely to be a very big move as institution finally follow what retail BTC investors have known all along — that this is the future and its wildly underpriced.” EveAccording to the CEO of Global Macro Investor: “Super early days for what is likely to be a very big move as institution finally follow what retail BTC investors have known all along — that this is the future and its wildly underpriced.” Ever since 2017, Bitcoin had seen multiple price level ranges starting from the time when it almost reached $20K to touching the bottom at $3150 in 2018. However, recently Bitcoin has broken through the $11.5K resistance line, and various technical data and market data, support the upcoming bull trend for Bitcoin.
Analyzing the 4-hour chart of Bitcoin published by the crypto analyst Melker, it’s seen that Bitcoin has seen four consecutive high. Analyzing the 4-hour chart of Bitcoin published by the crypto analyst Melker, it’s seen that Bitcoin has seen four consecutive higher highs or four low points of Bitcoin higher than the previous lows. A higher low is contemplated in technical analysis as a bullish trend because it demonstrates the buyers’ strength. Therefore, for long term investors, it seems that Bitcoin has lifted the sentiment and will continue to surge massively in the future.
Coinbase Announces To Offer Bitcoin Backed Loans To US Customers:
This is by far the biggest news in the crypto world this week, and this might be a revolutionizing step in incorporating cryptocurrencies in terms of daily life usage. Coinbase is the biggest cryptocurrency exchange in the world, and it has recently decided to get into the lending business. According to coindesk, customers will be allowed after a credit check, to get fiat loans using bitcoin. The loans will include small expenditures and large-scale expenditures like Home, Car, Marriages, and so much more. The low-interest-rate provided by Coinbase will ensure that the people having excess capital acquired with cryptocurrency will have places to invest for the future.
