Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple : Price Analysis, 3rd Week- 21st June
By — Nirmal Ranga
The Road Ahead?
Despite the negative sentiments in the market, The Flag-Bearer of the cryptocurrency world has been consistently holding above it’s February low of $6,000 from a week. Though the dark clouds have not yet faded away, still, the President of Blue Line Futures believes that Bitcoin has entered the phase of making a bottom for the upcoming bull-run.
However, the above hypothesis do not determine the exact lows and there might be retest or creation of new lows in the coming time seeing the present market sentiment. Meanwhile, the hacking of the world’s 6th largest exchange Bitthumb resulting about $31 million theft gave a sudden jolt to the markets which was short-lived.
On the other side of the coin, the traditional financial markets exchange NASDAQ have successfully tested a blockchain-based Proof-of-Concept that provides 24/7 security collateral solution.
Considering all of the above hypothesis, the drawbacks, and the rising acceptance of this industry, what lies ahead is something everyone would be curious about. The road ahead certainly looks promising but it will have to crossover major challenges to establish a firm identity.
Bitcoin is representing a gain of about 1.7% in last 24-hours.
BTC has been holding above it’s major support of $6,000 since a week and we have seen multiple buy-candles over the week. The important aspect here to …
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About Author — Technical/Derivatives Analyst & Crypto-Currency Expert with a decade of Professional Experience having expertise in Equities, Commodities, FOREX & Crypto-Currency Markets. Connect with him onLinkedIn and follow him on Twitter.