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Bitcoin has been falling since the start of the week, with the market low of $29,520 on Tuesday night, the lowest since June 30. However, the $30,000 threshold stay protectedas buyers quickly drove BTC/USD price above this key level.
In the end, the Bitcoin trend is therefore still uncertain, as was the case for about a month. However, there are some signs that the indecision may end in the coming days, not to mention the fact that other encryption opportunities especially interesting that we will discuss later in this article.
Uncertain BTC favors light news while awaiting news on the ETF spot
Let us first recall that the bitcoin fall The last few days result from a correction from the sharp upside posted at the end of last week, when the entire crypto market was lifted by a wave of optimism related to a partial victory for Ripple in the lawsuit that opposed the SEC regarding XRP commercialization. .
After an initial positive shock, linked to the hope of less strict regulation of cryptos in the United States, Bitcoin had quickly reversed its gains, staying in its recent range, and the news was relatively light from the beginning of the week in favor. uncertain.
However, if the fact that US Justice is on the side of Ripple is indeed a sign that regulation will be more favorable for cryptos across the Atlantic, it could also mean that the SEC is more likely to validate with recently. Bitcoin ETF spot recommendations some big names in Finance, including BlackRock.
In this regard, it should be noted that Raoul Pal, CEO of Real Vision and former Goldman Sachs, whose words are widely followed by the crypto community, explained earlier this week in an interview with Lark Davis that exchange traded fund approval. (ETF) for bitcoin cash (BTC) would encourage a rapid inflow of capital in the crypto asset markets.
Pointing out that cryptos are currently in a bull market, and the whole world is aware of it right now bitcoin potential when the euphoria is there, he explained that the Bitcoin ETF would come at the right time to facilitate investments in BTC for both individuals and institutions.
Bitcoin trend is still uncertain, here are the main parameters to watch
From the point of view of technical analysis, however, confirmations are needed before one can promise to buy sustainable on Bitcoin.
In fact, the evolution of the cryptocurrency is in a range of $29,500 – $31,800 for about a month, and the over either of these limits is necessary to clarify the trend.
If BTC/USD falls below the $29,500 threshold, the next supports to consider will be $29,000 and the 100-day moving average at $28,465. If the cryptocurrency takes the upward path and manages to break above the annual record from $31,800, the next upside target will be the $32,000 threshold.
From a technical as well as a fundamental point of view, the current outlook for buying Bitcoin is not necessarily ideal. However, this in no way means that it is impossible identify opportunities interesting for this week on digital assets.
BTC20, a solid alternative to Bitcoin to enjoy the best of both worlds?
And one of these opportunities could well be BTC20, a new cryptocurrency that has a the presale has just started. Conceived as a nod to early Bitcoin, the BTC20 replicates the BTC specification as they were in April 2011.
That is, with a course of $1 and a quantity of 6.05 million securities. Furthermore, just like with Bitcoin, there can never be more than ever 21 million of BTC20, which will be created gradually over the next 120 years or so.
However, it should be noted that unlike Bitcoin which is a PoW cryptocurrency that uses crypto mining, a system that has been heavily criticized for its energy consumption, BTC20 is a PoS cryptocurrency built on the basis of the Ethereum network, and operates on the basis of the of stuck.
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$BTC20 lets you the # Signal for $1 and take advantage of the stacking power.
Aligned with #Bitcoin‘s block reward mechanism, we provide a unique opportunity to earn rewards through us #Ethereum-based staking.https://t.co/N56IcYsKHq 💪 pic.twitter.com/rKQj67gEic
— BTC20 (@BTC20Token) July 18, 2023
This means that investors will receive BTC20 passive income thanks to their staking on their BTC20 tokens. And here too, BTC20 follows the Bitcoin model, as promised rewards will be released in the form of newly issued BTC20 tokens, and this with every Bitcoin block confirmation.
In summary, BTC20 is an opportunity to take advantage of some of the benefits of bitcoinwhile monetizing passive income through betting, which could be allowing you to get the best of both worlds!
Because the BTC20 presale has just started and more and more crypto analysts and influencers is enthusiastic about the projectwe can strongly advise you to find out more…
Cryptoassets are a risky investment.
Source: BTC20
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This article does not represent investment advice in any way. The information provided here should not be used as a basis for making financial decisions. Investing in cryptocurrency involves risk and can result in significant losses. You should only invest what you can afford to lose and do your own research before making any investment decision.
