Summary:
- Incredible quarter for Bitcoin
- Moderate slowdown in the cryptocurrency market
- SEC's postpones the decision on Bitcoin ETF again, Cryptocurrencies are now available on WhatsApp
Bitcoin has experienced increased volatility in recent days. The latest correction move ended at the 61,8% Fibo retracement of the last upward swing. Bitcoin has seen a relief so far this year after last year’s crash. As a result, the price is on track to see its second-best quarter since 2014 with a 92 percent gain. Since April 1, in about a month and a half, the Bitcoin price has increased by nearly 100%. Will the future be so good for "digital gold"? The outlook for cryptocurrencies looks quite optimistic. Sentiment seems to be getting better as huge financial companies plan to use blockchain.
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Open account Try demo Download mobile app Download mobile appSo far Bitcoin has seen the best quarterly gain since 2014. Source: cnn.com
From a technical standpoint, Bitcoin trades near the key $8340 level, where the outstanding rally has stopped. A breakout of this level may be a huge obstacle for bulls in the coming days. Despite the ongoing pullback, Bitcoin continues extending its bullish momentum - the price has clearly reacted to the 10-day moving average. Note that, the lasting pullback resembles the correction marked by yellow boxes.
Bitcoin bounced off the key psychological level at $8340. Source: xStation5
Dash bounced off key level localised at $170. After striking the upper end of the bullish channel, the price has corrected to some extent. The price has some room to hit the lower boundary at $123,675 but then bulls may try to take control anew.
Dash - bulls are taking control of the market. Source: xStation5
SEC Postpones Bitcoin ETF
U.S. Securities and Exchange Commission (SEC) postponed Bitcoin ETF. On the release date (on May 20, 2019), Bitcoin was underperforming, however, the SEC's decision had little impact on Bitcoin's performance. The outcome was mostly expected by investors who supposed the SEC might delay a decision on VanEck ETF again. The key concern of the commission refers to market manipulation and possible measures a platform would take to protect its investors. The next deadline falls on August 19.
Send and receive cryptocurrencies on WhatsApp
Bitcoin, Litecoin and Ethereum are now available on WhatsApp - a popular messaging platform. How is it possible? Whats App users can now send and receive cryptocurrencies via WhatsApp thanks to the Lite.Im bot created by Zulu Republic. In addition, users can earn virtual currencies. Also, people can earn cryptocurrencies via a referral program.
A screenshot of the bot. Source: cryptonews.com
Using the bot is really easy and intuitive. Smartphone users need to add Lite.Im WhatsApp bot and then follow the instructions. Undoubtedly, user-friendly solutions like Lite.Im truly help promote and adopt cryptocurrencies.
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