The BTCUSD rose 2.24% to 19,454 on Friday.
In a new report published by a global audit and consulting firm in this report, investors are moving away from NFTs and toward blockchain infrastructure projects.
Gautam Chhugani a Bernstein analyst and manas Agrawal wrote that the switch to a proof of stake method of maintaining its network from a proof of work. They believe it will happen soon between 10 to 20 September and it will be positive news for crypto.
Investors are very curious to know when will the ETH market cap similar to the bitcoin market cap this is the most asked question by investors
Ether represents this “innovation-crypto,” if ETH succeeds in making the blockchain digital economy, eth could be adopted as digital money
Most of the Altcoins are in the red zone, Bitcoin shows no reversal trend. The market condition can be tracked by several factors such as the federal reserve interest rate hike
The major resistance for bitcoin is $20,000 and it’s stuck below this level and it will go down for some time because it breaks the major support of $19600.
On technical fronts, BTCUSD: RSI stood at 46.779, and currently, it is trading below all SMA except MA (5), so a sell position can be taken with the following target and stop-loss
Trade signal: SELL AT 19454.90, TAKE PROFIT AT 19400.00, and STOPLOSS AT 19780.00