Crypto News: Indications that BTC and ETH are preparing for large transaction volumes and recovery
In recent times, where cryptocurrencies have dropped in value, we have seen that there are people suffering from FOMO (Fear Of Missing Out), and this has meant they have lost money by not waiting for the recovery of the assets in which they invested.
Despite the fact we cannot change this, investing in these times may be the best option for many cryptotrusters, and today we are going to tell you why.
Before introducing you to all the information related to Bitcoin and Ethereum, if you are considering your options for investment or business development, contact us! Our specialised team can help you with all your concerns. Click here.
Why should we invest right now?
The cryptocurrency market had a quiet week as the top two assets by market cap, Bitcoin (BTC) and Ethereum (ETH), continued to consolidate. However, it seems that a downward price movement is brewing.
The Tom DeMark (TD) Sequential Indicator recently presented sell signals on the nine-hour chart of Bitcoin and Ethereum.
The bearish formations developed as nine green candles, which is indicative of a correction of one to four candles. Although BTC and ETH briefly plummeted following the technical development, there has been no clear violation of support or resistance.
The transaction history shows two critical price points that can help determine where Bitcoin is headed.
Approximately 880,000 addresses had previously purchased more than 560,000 BTC between $20,800 and $21,500. Meanwhile, more than 190,000 addresses have more than 200,000 BTC between $21,500 and $22,100.
Given the lack of resistance ahead, a sustained nine-hour candlestick close above $22,100 could be significant enough to trigger a breakout to $25,000 or even $27,000.
But if the $20,800 support level were to give way, the next crucial zone of interest is $19,000.
The transaction history also reveals that Ethereum cannot afford to lose the $1,100 support level. Breaking such a vital demand zone may trigger another selloff that sends ETH over $600.
Therefore, it is imperative that Ether breaks through the $1,320 resistance barrier to stand a chance of moving towards $1,700.
How can buying Bitcoin and Ethereum benefit me now?
Transparency and neutral quality:
Blockchain provides the information of the supply of cryptocurrencies, anyone with problems with them can review their current situation. No authority or government controls cryptocurrency protocols. Transparency defines the neutral quality of Bitcoin and Ethereum.
No payment restrictions:
People can use Bitcoin and Ethereum as a payment method. Several local and online stores accept Bitcoin payments. Government holidays, strikes and curfews may affect their transactions. In this way, this cryptocurrency allows users to complete transactions at any time.
No security issues:
As neither institution controls Bitcoin or Ethereum, it provides a good investment opportunity. Bitcoin and Ethereum provide a peer-to-peer connection based on high-level encryption. This means that you will not face any security issues when using this cryptocurrency.
Future price increase of Bitcoin and Ethereum:
Since their origin, Bitcoin and Ethereum have experienced a price boom over the years, however, the price of this virtual currency fluctuates just like other cryptocurrencies, however, the prices of these cryptocurrencies have generally increased over the years. of the years. This means that if you buy them today, you can sell them at a higher price to make a profit, although it may take time to reap substantial profits on your investment, you can still make a profit.
Nobody knows when half of the world's population will have these cryptocurrencies, however, the approval of them is growing. People from various places around the world are acquiring them. Since mining validates transactions, more and more people get these attractive coins and this increases their approval, thus increasing their value.
Transact with them:
Some people buy bitcoin and use it to transact on the internet, because it is cheaper than using fiat money. The elimination of intermediaries will make the use of Bitcoin and Ethereum more accessible, in addition, border limits do not limit them. To send money to people in a faraway place, use Bitcoin and Ethereum to save money.
Buying cryptocurrencies is a profitable investment for anyone who approaches with realistic expectations and spends reasonable amounts comparing them, moreover, you should study the market to know the right time when to buy this cryptocurrency. Although Bitcoin does not guarantee you headline-grabbing wealth, it can secure you good profits, however, take care of your financial responsibilities before investing in this cryptocurrency.
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