Bitcoin Gains, Testing Key Resistance

Bitcoin Gains, Testing Key Resistance

Bitcoin Gains, Testing Key Resistance


Bitcoin marked gains Tuesday as new fund inflows into the industry continued to aid the popular digital currency’s move North as it moves to test Key overhead resistance.

The total cryptocurrency market cap rose to about $460-B Vs the $450-B seen Monday, as traders appeared to downplay a recent threat from the European Union.

The EU warned Monday that it would regulate cryptocurrencies at an EU level if “no clear” international response emerged to tackle risks in the sector.

A possible reason that the regulatory threat from the EU may not carry the same weight as recent threats from Japan and SKorea is that the EU’s share of the market is minor in comparison to that of Japan and SKorea.

Japan’s participation in the global Bitcoin market was estimated to have averaged about 50% of daily trading activity worldwide in Y 2017.

Currently, Bitcoin is trading at: 10,989.010742,+462.695312, +4.395609%, as of 6:41a GMT, the market is open.

 Ethereum rose 1.47% to $879.35.

Ripple’s XRP rose 1.31% as adoption of its platform continued to grow after Cuallet recently said it would integrate Ripple’s xRapid within its business model.

Litecoin fell 1.31% to $218.50, while Bitcoin Cash fell 0.74% to $1,244.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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