• PayPal allow customers to buy, sell, and hold cryptocurrencies earlier than expected
• Dash is planning to activate Spork 21 upgrade from November 17
This week is very good for the cryptocurrency market. Bitcoin price kept climbing without stopping and was able to cross and hold the $16 000 level. Altcoins generally followed the movement. Small-cap cryptos in particular registered a stellar performance with the index gaining circa 25 points. Large-caps and mid-caps also moved higher and managed to overperform Bitcoin. The capitalization of all digital assets in circulation increased to 463.5 billion, while an average daily trading volume is registered at $123.8 billion. Bitcoin's market dominance increased to 64.39%.
Few weeks ago PayPal announced that will allow customers to use cryptocurrencies to shop on its network in early 2021. However due to high demand the payment platform is already allowing eligible customers in the US to purchase, sell and hold cryptocurrencies. Also PayPal increased weekly cryptocurrency purchase limit from $10K/week to $20K/week. Company is also planning to provide help for account holders and explain to them blockchain ecosystem through educational content which will focus on risks and opportunities related to this kind of investment option. Also PayPal obtained a conditional Bitlicense by the New York State Department of Financial Services and is working together with Paxos Trust Company to provide cryptocurrencies to all its users. The platform plans to expand these features to its Venmo in the first half of 2021.
BITCOIN soared above $16,000 early Thursday morning, breaking above the support level for the first time since January 2018. Price has broken up through the ceiling of the rising trend channel in the medium long term. Should the upbeat moods prevail then next resistance at $17 000 may come into play. However, if sellers will manage to break below the $ 16 000 level, then the nearest support lies at the aforementioned upper limit of the rising trend channel. Source: xStation5Dash price surged 15% as project plans to introduce new upgrades
Dash price jumped over 15% in the past 24 hours thanks to several factors. Developers are planning to activate important upgrade called Spork 21 which will allow the centralized recovery of control nodes. Also today, the project will release a new Core version which aims to fix several bugs however, it is not a mandatory upgrade. Besides that, recent recommendation from Teeka Tiwari on the latest PalmBeachConfidential report also lifted market sentiment toward DASH.
DASH has been trading in an sideways move since September. Yesterday price moved sharply higher and broke above the 200 SMA (red line). Today coin is testing the upper limit of the consolidation range. In case of a break higher the next resistance to watch lies at $79.90 level. On the other hand, if sellers manage to halt advances here, then downward move towards $60.00 support level is possible. Source: xStation5The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
