This week, most cryptocurrencies faced a slight correction as uncertainty split from legacy markets. Despite the minor decline, cryptocurrencies have recovered and stood strong without sharp movements.
Bitcoin started the week trading above the $23,000 level but fell to $22,000 due to increasing pressure, US central bank’s latest interest rate hike, and ongoing tension betweenChina and Taiwan. However, bulls have succeeded in recapturing the $23,000 back the crypto lost its weekly gains.
The second largest cryptocurrency, Ethereum, fell to the $1,500 level mid-week. It again gained the $1,700 level on Friday following a consolidation of four days. On a weekly time frame, ETH might not have accumulated enough power to make a sharp move. But, a continued rise could take the price to its resistance at the US$1,785 level soon. The positive sentiment for Ethereum expands as the expectations for the September Merge. If this trend continues, we expect ETH to reach the $1,900 level in a few...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...