In this one of the latest crypto magazine digital subscription, you will get to know all the weekly updates regarding the market. Bitcoin topped the $1 trillion market capitalisation on February 19, which is a significant milestone. Another important event was the launch of the Bitcoin ETF in Canada. The assets under management of the Purpose Investment’s ETF hit $421.8 million within two days, indicating strong demand for the product.
Now, the focus will shift to the US Securities and Exchange Commission, which has previously rejected several ETF proposals citing manipulation and lack of liquidity. However, the entry of institutional investors and Bitcoin’s market cap near $1 trillion may force the SEC to take a more favorable view towards a Bitcoin ETF. The launch of an ETF could be the next trigger that may start the next leg of the uptrend.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE:
TOP REASONS FOR CHOOSING QOINIQ FOR DIGITAL
INTRODUCING AUBIT FREEWAY — THE WORLD’S NEXT GREAT
ASSET MANAGEMENT PLATFORM
Bitcoin turned down from the £36,759.61 overhead resistance on March 4, but the bulls did not allow the price to sustain below the 20-day EMA on March 5 and 6. This showed the bulls are buying on minor dips and are not waiting for a fall to £30,936 to buy.
The bulls pushed the price above the £36,759.61 overhead resistance on March 8 and have followed it up with another up-move today. The BTC/GBP pair could now rally to the all-time high at £41,795.
If the bulls can propel the price above this resistance, the pair could reach the psychological level at £50,000. The 20-day EMA has started to rise again and the RSI has risen above 63 levels, which suggests the bulls are back in the driver’s seat.
However, the bears are unlikely to give up easily. They are likely to mount stiff resistance at £41,795. If the price turns down from the all-time high, the pair may consolidate between £36,759.61 and £41,795 for a few days. Although the trend is bullish, we do not find a trade with an attractive risk to reward ratio, hence, we are not recommending any fresh long positions. Checkout our crypto magazine digital subscription for the latest updates about profit and loss in cryptocurrency.
Lastly please check out the advancement’s happening in the cryptocurrency world.
CRYPTO MAGAZINE DIGITAL SUBSCRIPTION FOR
FEATURING IN THIS WEEKS EDITION
-Zeta Hedged Coin
CRYPTO TRADE OPPORTUNITIES
BITCOIN – BTC/GBP
Bitcoin turned down from the £36,759.61 overhead resistance on March 4, but the bulls did not allow the price to sustain below the 20-day EMA on March 5 and 6. This showed the bulls are buying on minor dips and are not waiting for a fall to £30,936 to buy. Read more
ETHEREUM – ETH/GBP
We had mentioned a relief rally was setting up in Ether and that is how it has played out. After hesitating near the 20-day EMA between March 2 to 5, the bulls made a decisive breakout on March 6. The momentum picked up after the bulls sustained the price above the 20-day EMA. Now, the ETH/GBP pair could rally to the all-time high at £1,456.18. If the bulls can drive the price above this resistance, the next leg of the up-move could begin. The next target objective on the upside is £1,767.7 and then £1,968.87. Read more
RIPPLE – XRP/GBP
XRP has been trading near the £0.355 overhead resistance for the past few days. When the price trades in a tight range near a resistance, the possibility of a break above it increases. If the bulls can push and sustain the price above £0.355, the XRP/GBP pair could rally to £0.40 and then to £0.48718. Read more
CARDANO – LTC/GBP
Cardano is currently consolidating in an uptrend. The bulls have been defending the 20-day EMA but have not been able to achieve a strong rebound off it. This suggests that the traders are not buying the current dip aggressively. Read more
BINANCE – BNB/GBP
The bulls have successfully defended the 20-day EMA for the past few days, which suggests traders continue to buy on dips. The upsloping moving averages and the RSI in the positive territory suggest advantage to the bulls. The BNB/GBP pair has formed a symmetrical triangle. If the buyers can propel the price above the triangle, the pair may rally to £200 and then to the pattern target at £250. Read more
INDIAN CRYPTO INDUSTRY BULLISH ON FINANCE MINISTER ENSURING A ‘VERY CALIBRATED’ APPROACH TO REGULATION
BITCOIN’S 2021 RETURNS DESTROY EVERYTHING ON WALL STREET, GOLDMAN SACHS SAYS
Goldman Sachs didn’t start ranking bitcoin versus global assets until late January, but its year-to-date return is double the next-closest competitor. Goldman Sachs, the storied Wall Street firm, didn’t start including bitcoin in its weekly ranking of global asset-class returns until late January, when the largest cryptocurrency quietly appeared atop the chart.
RIPPLE AND MONEYGRAM TO ‘WIND DOWN’ PARTNERSHIP
Ripple CEO Brad Garlinghouse has issued a statement announcing the fintech firm and MoneyGram International have together decided to “wind down” their partnership. However, the March 8 statement noted that both companies are committed to revisiting some form of partnership together in the future.
CHILIZ (CHZ) RALLIES 60% TO A $1B MARKET CAP AS FAN TOKEN OFFERINGS EXPAND
The success of the AC Milan Fan Token launch and plans to expand to the United States support Chiliz’s 1,000% rally over the past month. Nonfungible tokens (NFTs) and decentralized finance (DeFi) are two of the hottest concepts in the crypto sector, and each is altering the way projects and companies interact with the public on a wide scale.
TOP REASONS FOR CHOOSING QOINIQ FOR DIGITAL CURRENCY TRADING
Cryptocurrency investing has become a norm today. With thousands of cryptocurrencies and over 500 crypto exchanges available in the online marketplace, more and more people are looking to maximize their gains through digital currency trading. This is where companies like QoinIQ is providing an easy-to-use crypto trading platform called QoinSuit to traders globally. In this article, find the top reasons for choosing QoinIQ’s QoinSuit platform for digital currency trading. Read more
INTRODUCING AUBIT FREEWAY — THE WORLD’S NEXT GREAT ASSET MANAGEMENT PLATFORM
With more than 100,000 people on the pre-launch waiting list and independently-verified simulations showing as much as 75% additional annual returns, AuBit Freeway could be the next big thing in finance.
Most investors today seem to lean towards one of two camps: crypto investing or traditional investing. Crypto investors have seen or made wild gains and know they’re real, whereas traditional investors feel far more comfortable with their 8% benchmark returns per year. One company, however, is using blockchain technology to combine the best of both worlds and maximise investor returns with no additional risk by reducing and redistributing revenues for the benefit of all investors. Read more