Bitcoin takes breather, yet set for strong monthly gain

  • by Ofeed Team
  • May 30, 2019, 2:9 AM
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With the flow of Bitcoin upwards within inches to $9000 on Bitfinex couple of days ago, all the sights are now concentrating on the king of cryptocurrencies, despite that the cryptocurrencies look bullish.

Bitcoin fell 0.76% to $8,725 after hitting a low of $8,435.30. The popular digital currency is on course to post its fourth-straight month of gain, which would be its longest winning streak since August 2017.

A breach of $8,950 level could push the price of Bitcoin towards $10,000, while $8,000 remains strong support area.

Some economists believe that cryptocurrencies prices are predicted to rise further due to real business interest and adoption of cryptocurrencies as money.

Ethereum also was 0.75 percent down at $270.10 despite some reports on Wednesday that JP Morgan was developing some new security features on the Ethereum blockchain and it is currently experimenting on deeper security features within the current project.

Ripple added 0.34 percent to $0.4491, while Bitcoin SV saw a sharp increase by 46.38 percent to $177.39 on fake news that cryptocurrency exchange Binance will re-list it again.

Ofeed Team

Ofeed’s team is comprised of highly distinguished analysts, with a wide experience in financial markets, having a unique analytical view of developments impacting global financial markets

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