The rise in the cryptocurrency market continued on February 18, with Bitcoin (BTC) trading around $ 51,000, and Ethereum (ETH) hitting $ 2,000 for the first time, as retailers remain high, while professional traders remain less optimistic in the short term. …

Data from Cointelegraph Markets and TradingView show that Bitcoin’s price has retreated slightly from a full-time high to the current $ 51924, while Ethereum accumulated 5.66% to a full-time high of $ 1950.

Investors in Canada have shown their healthy appetite for access to the best cryptocurrencies, as the Canadian Bitcoin ETF debuted nearly $ 100 million during the first hours of trading.

Meanwhile, Microsoft co-founder Bill Gates noted that he takes a “neutral view” of Bitcoin and does not take short or long positions on the original, believing that BTC “may rise and fall depending on obsession or other views.” …

New BTC support and resistance levels are displayed
Chad Stinglass, Chief Commercial Officer for CrossTower, has decided that Bitcoin’s next resistance wall will be around $ 53,000, while the current support level is around $ 51,000, creating a “narrow channel” that is unlikely to “last long”.

In a private conversation with Cointelegraph, Stinglass stated:

Under $ 51,000, there is a lot of support for $ 49,000, over $ 53,000. I expect the next resistance pocket to be around $ 56,000, which is another big blow for the interest rate option. ”
As for ETH (ETH), Steinglass noted that the recent sale of altcoins “drove ETH down with it”, but with the sale on February 18, Ether managed to “fall apart and break.”

Stone glass took the ether’s resilience during the turbulent altcoin market as “a sign that ETH’s history is much broader and more reliable than the recent madness of cryptocurrencies using ETH for gaming purposes.”

The increase in unemployment requirements is putting pressure on traditional markets.
Traditional markets fell under pressure on February 18 when the United States began to recover from the Covid pandemic, and unemployment demands increased after a week of decline.

The S&P 500, Dow and NASDAQ ended the day in red, with a decline of 0.44%, 0.38% and 0.72% respectively.

Many alternative currencies are creating new heights
Altcoins recovered from its last dive and saw significant gains on Thursday, with Binance Coin (BNB) surpassing the rest of the top ten as it rose more than 20% over the past 24 hours to a record $ 218.94.

Dogecoin (DOGE) and IOTA (MIOTA) also increased by almost 16% to $ 0.059 and $ 1.52 respectively, while REN rose by 20.75% to reach a whole new high of $ 1.21.

The total market value of cryptocurrency is now $ 1.57 trillion, and the Bitcoin dominance is 60.6%.

Source: CoinTelegraph

LEAVE A REPLY