Have a nice and productive day for everyone, and for some of them, more recently, fruitful work on the "farm"! As always, I offer you a daily review of the market news:
BTC. The price movement, squeezed in the range between the support level at $35,500 and the correction level of 0.786 on the Fibo ($36,232), made an exit from the consolidation area to the upper border of the descending channel indicated on the chart. The breakdown was confirmed by an increase in trading volumes. On the two-hour timeframe, the asset closed above the moving average of 20 MA 2H, which, within the framework of the "Bollinger Bands" indicator, signals the possible emergence of an uptrend in the short term. With the initial data, it seems likely that bitcoin will trade above the 0.786 Fibo correction level ($36,232), followed by a breakdown of the upper limit of the trading channel to the resistance level around $37,200.
ETH. Paired with BTC, the asset has increased its value by 3% over the past 24 hours. Ether is trading above the support level - $2750, the nearest resistance is around $2900.
Square payment company Square invests $5 million in a project to create a demonstration bitcoin mining center on solar energy in the United States. The new facility will be built on the mining site of the Blockstream infrastructure startup.
An interesting feature of the initiative will be the full public transparency of the project economy. The companies will provide access to all data, including operating costs and return on investment, as well as the knowledge gained during the construction of a farm on renewable energy sources.
The mining climate is changing, the trend for using more "green" energy for mining digital gold will develop in the near future, and the concept of using renewable energy sources for mining will become an additional argument in favor of bitcoin. Taking into account the persecution of miners in China and the change in the general agenda-now we need not just cheap, but also "green" energy for mining cryptocurrencies, the growth of companies with this mining specialization in technological countries is likely.
брит the British financial company Ruffer Investment Management made a profit of $ 1.1 billion in five months from investing in BTC.
The amount of initial investments amounted to $600 million – about 2.5% of the total investment portfolio. Representatives of the company said that they were prompted to purchase the cryptocurrency in November 2020 by the "best economic environment for bitcoin".
The news proves that institutional investors are showing great interest in the market.
Making a profit of this size in a short period of five months for a traditional investment is a fantastic result. This feature of the new asset class will continue to be attractive to major players.
Altos: A threefold increase in the reward for stacking and the news about the burning of the Wault Finance platform tokens (#WAULTX) led to a 50% increase in the price of WAULTX (to the dollar).
The launch of a new SolFarm (#TULIP) project liquidity pool based on Raydium (#RAY) caused the growth of TULIP by 40% (against the dollar).
The listing of the Gala project (#GALA) on the MXC exchange increased the value of GALA by 25% at the peak (against the dollar).
▫ ️The total capitalization of the cryptocurrency market increased by 2.7% over the past day, the dominance of bitcoin fell by 1%. As expected in yesterday's review, the market is beginning to show the first signs of recovery, in the absence of a negative news background, the continuation of the course taken is likely.
Posted Using LeoFinance Beta