Bitcoin holds $20K mark; Ethereum, Polygon & XRP get up to 4%
New Delhi: Top crypto tokens were trading sideways on Thursday as investors fretted over new job figures and OPEC oil cuts.
Bitcoin held above the $20,000 mark, whereas Ethereum was seen marching towards the $ 1,400 mark again. However, economic factors including inflation and recession are likely to guide the riskier assets within the near term.
What's cooking in India
Many wealthy Indians are paying in cryptocurrencies to shop for properties in Dubai, with leading realtors within the emirate accepting the digital coins to cut deals.
Such transactions, though perfectly kosher in Dubai, which wants to position itself because the world's crypto capital, can come to haunt the property owners, most of whom are unmindful of the regulatory and legal pitfalls ahead
Tech View by Giottus Crypto Platform
Bitcoin (BTC) entered the $20,000 territory again on Wednesday with a daily close that overcame an extended trendline that has acted as resistance since November 2021. With another daily candle now closing above this trendline, combined with its RSI, an upward trend bouncing off its moving average, this might signal the end of new lows, temporarily a minimum of .
For now, an inexpensive strategy may be to enter positions as BTC confirms its reclamation of the 50-day moving average at $20,300, with a stop loss below this key support and a target of about $22,000 - which is where BTC’s 100-day exponential moving average is found .
Should that be overcome, the all-important 200-day moving average, located at about $26,500, are often the level all eyes will be on.