Bitcoin (BTC) bulls faced strong headwinds on March 22nd, which quickly choked off any attempt to break above the $ 58,000 level, despite comments from US Federal Reserve Chairman Jerome Powell, who described the best cryptocurrency as an “alternative to gold.”

Data from Cointelegraph Markets and TradingView shows that traders made several attempts to pay over $ 58,000 in BTC in the past two days, but these were rejected, and Monday’s failure sent a bounce back to the $ 54,000 support level.

Analysis on the chain shows that while BTC’s price struggles to rise above $ 60K, the whale wallets have been in hoarding for the past 30 days, indicating that some of the richest bitcoin holders are still looking into the current bull market. … …

The adoption of traditional cryptocurrency is gaining momentum
The overall picture of the cryptocurrency sector continues to improve as the world-famous TIME magazine revealed that it is looking for a financial manager who feels comfortable with Bitcoin and cryptocurrencies as the publication begins to explore the creation of unique, non-innate tokens based on some of the most iconic caps.

Now that blockchain technology has evolved to the point where it can handle operations like streaming video and music, platforms that have tapped into these sectors for the first time have seen their prices soar in recent months as the general public has become increasingly exposed. Cryptocurrency Ecosystems. …

Theta (THETA) and Theta Fuel (TFUEL) took the lead in streaming video based on the dual-blockchain system experiencing astronomical growth in 2021, which continues to push the price to new highs.

Audius (AUDIO), the music streaming platform, has also risen sharply over the past month, rising from $ 0.356 on February 28 to $ 2.05 on March 16th.

VORTECS ™ data from Cointelegraph Markets Pro showed an optimistic outlook for the sound on March 1 even before the latest price rally.

The VORTECS score, excluding the Cointelegraph, is a mathematical comparison of historical and current market conditions derived from a set of data points, including market sentiment, trading volume, recent price movements, and Twitter activity.

As shown in the chart above, the VORTECS ™ assessment of the green sound was at the end of February, and peaked at 68 on March 1, nearly 24 hours before the price started to rise by 400% over the next two weeks.

After the March 16 price hike, the AUDIO Prize and VORTECS ™ Points were redeemed for several days. The VORTECS rating then turned green again and peaked at 71 on March 20, about 15 hours before the last high.

Other notable cryptocurrencies on March 22 include Augur (REP), which rose 30% to a multi-year high of $ 39.30, and XRP, which hit 20% to an intraday high of $ 0.60 on XRP. The army looks out. For the token to be based on exchanges that shut down service in response to US Securities and Exchange Commission actions.

The total cryptocurrency market cap is now $ 1.746 trillion, and Bitcoin’s dominance is 59.8%.

Source: CoinTelegraph

LEAVE A REPLY