Daily crypto news alerts for 4th January, 2021
🗞Price Analysis: Bitcoin cash BCH for 03/01/2021
Bitcoin Cash BCH, the fork of a fork, has been holding on to itself for most of 2020. With the start of the new year, BCH seems to be doing the same. He continues to develop over the years and certainly plays it safe. This article looks at Bitcoin Cash in both the short and long term to determine if things have changed or with ever change.
On the chart above, BCH respects the rounded lower support as it has tested it more than three times in the last month. In addition, the buying pressure pushed the price up to $100 from $260 to $360 in 4 days. The price is currently close to the top of the spot, and there is an eagerness to hit it again, especially after two failed attempts, both in the last two weeks of December.
With Bitcoin rising, the situation seems to be going both bullish and not, as some altcoins are doing well while others are struggling. One of the things that most altcoins have in common is that their value in BTC decreases faster with each step that Bitcoin takes.
Perhaps the best BCH can do right now is to try to break the top spot in the $373 to $383 range, the $10 barrier. So the scalp odds look good in the short term.
The one-day chart shows a clear picture of multi-year, rounded-bottom patterns that have persisted since mid-2019. A pullback from BCH will soon take place, which will reduce the price by 9-14%. This is reasonable considering the aforementioned peak in the area, which prevented prices from breaking three times in the day.
In a completely different scenario, we can expect BCH to test the rounded bottom again and continue to break the local peak and move higher. At lower levels, BCH looks good for the scalp, but at higher time frames, one has to be careful about where BCH might go. Equal probability of an exchange in the specified range or a breakout at the top of the site.
🗞Bittrex to Delist Monero, Zcash and Dash Anonymous Coins
Cryptocurrency exchange Bittrex announced on its Twitter page that it intends to stop trading coins such as Monero (XMR), Zcash (ZEC), and Dash (DASH) from January 15th.
These coins are traded on the site in pairs with Bitcoin, Ethereum and the stablecoin Tether, and ZEC and DASH are also traded against the US dollar.
The exchange did not name the main reason for the delisting of confidential coins, citing its rules for the removal of assets.
Possible reasons for coin delisting in exchange rules include regulatory evolution and other legal compliance issues.
🗞Ethereum tops $1,000 in 30% rally in one day
Ethereum continued to climb this night. 24 hours ago, one ETH could have been purchased for $720, but as a result of a 30% rally, the price surpassed the $1,000 mark, which the market has not seen since January 2018. At the present time, the ether still lacks about 30% to the all-time highs.
The jump in Ethereum is observed simultaneously with a slowdown in its own explosive growth in the bitcoin rate - over the past day it has increased by 3% and is about $33,000. The bitcoin dominance index at the time of publication is 69.6%, while on January 3 it rose to almost 73%.
One of the traders drew attention to the presence of a large wall for selling ETH for about $1,000. Subsequently, he added: “The wall is gone. There is nothing above. I don't know if they took her away or swallowed her up, but she disappeared. "
“I believe the key level for ETH is around $955. Although who am I kidding? Perhaps it will just be able to slip through, since Bitcoin has shown us that none of these old levels mean anything anyway, ”writes another.
Apart from Ethereum, many altcoins have shown strong growth in recent days. So, Dogecoin and Polkadot have doubled in price, while VeChain, Loopring and Nano have added more than 60%.
Earlier, the Chicago Mercantile Exchange (CME Group) announced the launch of Ethereum futures, which is expected to take place on February 8 after the instrument is approved by the regulator. Messari analyst Ryan Watkins believes that thanks to this, 2021 could be the year of an influx of institutional assets in Ethereum.
🗞Bitcoin price has reached a new all-time high
Having stepped over psychologically important levels, starting at $30,000, the cost of bitcoin exceeded the $34,000 mark and on January 3, it is trading at $34,150.
The cryptocurrency market capitalization has reached a new all-time high at around $880 billion. According to CoinGecko, Bitcoin's capitalization is currently 72.9%.
Dovi Wan, managing partner at Primitive Ventures, notes that the total value of bitcoin is again approaching the psychological mark of $1 trillion.