05 April 2021, 15:04
2 min reading
Over the past week, Bitcoin has stormed the $60,000 mark several times but has been constantly rolling back down. However, last week the price of the first cryptocurrency has increased by 5% and is now around $58,000
At the same time, the main attention was focused on Ethereum, which broke through $2,000 and set a new all-time high.
A lot of big news came from corporations and big investment funds. First of all, it should be noted that the largest payment company in the world, Visa, has launched a pilot program to integrate payments into USDC. The solution is based on the Ethereum blockchain. A special feature is the fact that, in this case, the cryptocurrency will not be converted to fiat to pay for goods and services. The company has already completed the first payment transactions.
Another payment corporation, PayPal, has announced that it will soon be able to pay for purchases at regular retail stores. Particularly interesting about this news is that the company will not charge fees for purchases with cryptocurrencies. As in previous times, this service will be available first to US residents and then to the rest of the world.
Also, last week crypto community knew that a direct listing of Coinbase shares would take place on the Nasdaq exchange on April 15th. A total of 115 million shares will be issued in circulation under the ticker COIN. On the private market, Coinbase’s weighted average share price was $343.
The new product is going to be released by the world’s largest commodity exchange — CME. These will be futures called Micro Bitcoin. This contract will make up a tenth of Bitcoin and allow better hedging of risks for traders and investors. The launch of the new product is scheduled for May 3 in a month.
Another major deliverable futures marketplace, Bakkt, has launched its own mobile app. With its help, you can buy, sell and store cryptocurrency assets, it is possible to trade crypto derivatives. The app is available on iOS and Android.
The last big news of the week came from Justin Sun. The head of Tron bought paintings by Picasso and Andy Warhol for a total of $22 million. Now he is going to convert these paintings into NFT format on the Tron blockchain platform. We recall that in March, the developers of the Tron blockchain added a new standard for non-fungible tokens TRC-721.
The past week has been very eventful. All of this has had a significant impact on the crypto market. Let’s take a look at the chart of the first cryptocurrency and see if we can expect growth in the next 7 days:
Over the past week, Bitcoin has been trying to hit the $60,000 mark. Once he succeeded, but at this time sellers became more active and drove the price down. As a result, bitcoin shifted to a sideways movement and this allowed the altcoin season to begin.
This situation on the chart is unstable. Now we can say that neither buyers nor sellers have dominance. This complicates the whole picture.
While Bitcoin is in the upward channel. As soon as the price breaks through the lower border and consolidates below it, a fall may begin. The nearest resistance is the $50,000 level.
However, it is possible that we are now witnessing the accumulation of position before further growth. To do this, you need to break through the $60,000 level and fix above it. After that, the price can go up sharply by 10% — 20% up to $70,000 — $72,000.
CRPT price is up by 10.47% for the last 24 hours, 409,860 CRPT’s were exchanged with a trading volume of $176,149. Over the past month, CRPT has already shown +63,34% growth. And if you want to get an additional profit, open your CRPT deposit account and get +7,2% APY.