Cryptocurrency market is declining with negative market news from China and uncertainty continues. Breaking the $36,000 resistance first, followed by the $44,000 resistance, and making daily closings above these levels is of great importance for the uptrend to continue.
It has been stated that London-based hedge fund Marshall Wace has decided to invest in the crypto money sector. It is stated that there is an investment of more than $ 55 billion under the management of the company. It has been suggested that the company, which is said to be planning to invest in stablecoins, which are payment systems for cryptocurrencies, has started hiring new employees to work with the cryptocurrency sector. Although there is no official statement yet, it can be said that the awareness of crypto money markets has increased and the potential for new capital inflows has been seen with this news in an international British business newspaper.
Bitcoin
Iran’s Vice President, Eshaq Jahangri, stated that Bitcoin mining operations should be halted completely to confirm that there are no power outages in key usage areas. Time will show whether this discourse, which is seen in parallel with China’s discourse, is a temporary or permanent attitude. In addition, some news sources, the website of the company named “Beiking Tongdao Cultural Development Co.Ltd”, was blocked by the People’s Bank of China, the country’s central bank, on suspicion of providing software for cryptocurrency transactions in China, which came to the fore with mining restrictions.
Allied Payment Network, one of the leading companies in payment technologies, announced that it entered the crypto money sector with an agreement with NYDIG (New York Digital Investment Group LLC). It was stated that the content of the agreement includes the subjects of buying, selling and storing Bitcoin, and it is aimed to provide brokerage services for easier crypto money trading to financial institutions, making it a first among companies that provide payment services. The institution, which provides technical infrastructure to its customers on issues such as bill payment, has long been known for its innovative work in this field.
Bitcoin is currently trading at $34.737 above its 20-day moving average of $34.168. On a daily basis, the RSI value is 48.387 and the STOCHRSI value is 91.397, which is seen as positive. Key support levels for Bitcoin $31.497 / $32.890 / $34.214; important resistance levels are foreseen as $35.732 / $36.425 / $38.050.
Ethereum
Sygnum, one of the largest banks in Switzerland, became the first bank to provide Ethereum staking service and support the Ethereum 2.0 staking contract. Sygnum will enable and mediate bank customers to easily stake their ETH on the bank. Offering corporate-level banking services, the institution currently offers 7% annual returns and transfers this service together with Ethereum staking. In addition, the ETH 2.0 staking service has grown in popularity recently, with the amount of ETH staked exceeding $14 billion.
Ethereum, the second largest crypto asset in the world, came to the fore again with the statements of Goldman Sachs, one of the leading American investment banks. In a research note, the New York-based investment bank stated that Ethereum has great potential and that the increase in its popularity could rival Bitcoin. Stating that the most important risk in this case is other popular cryptocurrencies such as Binance Coin and Cardano, the bank stated that new capital inflows can occur by improving the usage area with the updates and developments of Ethereum.
Meeting its buyers at the level of 2.377 as of now, Ethereum continues to move above the 20-day moving average and $2.111 and the 50-day moving average of $2.370. With an RSI value of 54,668 and a STOCHRSI(14) value of 100.0 on a daily basis, important support levels are seen as $2.075 / $2.134 / $2.277, while important resistance levels can be seen as $2.441 / $2.523 / $2.578.
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