Jack Ma is the founder of Alibaba, a major Chinese e-commerce company. In a speech at the Bund Summit in Shanghai, Ma global regulations and expressed his support for digital currencies. He believes digital currencies are very significant for a new economy and financial system.
Cryptocurrency market analyst Josh Rager says that formidable resistance could be forming in front of Bitcoin`s rising movement. If we look back at the Bitcoin price history, there have been many significant corrections, with BTC sometimes dropping as much as 30%. These kinds of pullbacks have usually been seen after huge bull-runs.
Volatility has struck back the cryptocurrency market a week ahead of the U.S. presidential election. While most altcoins went through a steep correction, Bitcoin rose to new yearly highs. Its uninterrupted upward price action turned heads as the narrative about BTC’s ability to act as a hedging asset during times of uncertainty resurfaced.
On 28th October, Wednesday, Bitcoin came under selling pressure from the $13,949 daily resistance level and the high of 2019 momentarily reached on 27th October. The BTC/USD pair opened Wednesday’s trading session at $13,657 at 3:00 UTC the corrective move took its first stride and continued through to 15:00. The day’s 14:00 hourly candlestick finished in a hanging man with the day’s low at $12,900 as of 18:00 UTC, leading to a slight recovery bounce.
Popular payments service PayPal now allows its United States-based to users to buy and sell cryptocurrency through their PayPal wallet. The fact that PayPal is now supporting crypto purchases will make entering the crypto space easier than ever before and it is going to remove a lot of the bottlenecks regarding buying and selling cryptocurrency. Next year, this service will also be available in Venmo, a payments app owned by PayPal.
As we progress through Q4 2020, several projects are moving ahead with continued development. In addition, Pay Pal recently announced its intent to offer cryptocurrency buying and selling within its platform, which triggered a smaller bull run. Everything looks set for another exciting week on the cryptocurrency markets and our weekly selection of top 3 coins to watch is here to help you choose the most compelling and promising coins this week.
According to a note from banking giant JPMorgan, Bitcoin is a risky asset with a lot of upside potential, but not a safe haven. While many people investors consider Bitcoin as a safe haven, the analysts at JPMorgan disagree. The writers of this note claimed that describing BTC as a risky asset is more suitable than a safe haven because it has proved its correlation with the S&P 500 since March.
It’s very likely that you have heard a lot about investing in cryptocurrency. Even if you don’t know how to buy bitcoin, it’s become common knowledge that cryptocurrency is available. Maybe you’ve even considered buying cryptocurrency yourself but you aren’t entirely sure if it’s worthwhile or not. Read the following ten good reasons to consider investing in cryptocurrency so that you can make up your own mind.
On Thursday, 22nd October, Bitcoin slowed down its rising pace, having added $243 by 17:00 UTC. BTC/USD was mainly trending sideways during the day. The pair began the day at $12,835 and edged slightly down below the level of the open in the first five hours of the day, forming a local support level at $12,728.