Does the rise continue on Bitcoin? – The SEC has 10 days to define a clear compliance framework for crypto businesses. Indeed, the many requests from Coinbase were not enough to get an answer, it is justice that takes over. For its part, the price of Bitcoin climbs and returns above $29,000.
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Bitcoin price climbs 1.5% in 24 hours
The price of Bitcoin is in the green, it is in 1.5% increase in 24 hours:
Bitcoin is in good shape, the price climbs 1.3% in 1 hour. Despite this increase, the price continues to stagnant for seven days. Surprisingly, the course of the BTC/ETH pair drops 1.3% in 24 hours. This indicates thatEthereum climbs faster than Bitcoin, and it’s pretty rare lately. The pair is in down 2% for seven days. Ethereum and altcoins will they finally be able to express themselves?
Bitcoin remains a drop in the ocean of financial markets
It is sometimes said that the Bitcoin is the king of cryptocurrencies. Rightly so, because it is the first capitalization of the cryptocurrency market ahead of Ethereum. The capitalization of Bitcoin revolves around 500 billion dollarsi.e. a capitalization twice as high as that of Ethereum. However, in the world of financial assets, the situation is different:
Bitcoin is a active young, it seems quite normal not to measure up against assets like Apple, Microsoft or against gold. The capitalization of gold is more than twenty times higher than that of Bitcoinand Google has a capitalization oftwo times greater than that of Bitcoin.
Nonetheless, it is interesting to note that Bitcoin has a higher capitalization than VISA ($483 billion) and Mastercard ($363 billion) according to data from companiesmarketcap.com. Bitcoin has been steadily rising since its inception, is it possible that it will ever reach the capitalization of gold? In any case, you will have to be patient…
Bitcoin Price Must Close Above $29,530 in 4H
Since the beginning of May, the price of Bitcoin has returned to a trend with troughs and ascending peaks in 4H. A fence beyond $29,530 would allow to continue on the dynamic:
Bitcoin is in the process of rebound at the level of institutional bias (EMA 9/EMA 18) bullish. THE rack at $28,500 holds up, buyers defended this important level. Now we have to tackle the resistance at $30,500.
The RSI continues to show a bullish momentum beyond the bearish trendline. Buyers have their hands on the momentum.
Bitcoin is the king of cryptocurrencies, but gold remains the king of financial assets in terms of capitalization. However, Bitcoin can boast of having a higher capitalization than the two giants of digital payments: Visa and Mastercard. The price regains color and climbs 1.5% in 24 hours, buyers will have to push to try to break the resistance at $30,500.
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