Bitcoin Holding Above $52K Puts Crypto On Track For $100K

Over the past year, bitcoin has risen by some 1,000%, a fascinating rally over traditional assets such as stocks and gold.

Over the past year, bitcoin has risen by some 1,000%, a fascinating rally over traditional assets such as stocks and gold. Over the past year, Bitcoin and other cryptocurrencies have returned to prominence with more general investor interest, such as $1.5 billion from the purchase of Tesla Inc. Bitcoin. 

According to one capital manager, cryptocurrency especially Bitcoin holdings above $52k would maintain price action on a long-lasting, upward-rising bull channel by more than 10% after new record highs set over the weekend. If so, the first cryptocurrency in the coming months will stay on track for $100K or more. 

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Here’s a closer look at the bullish uptrend channel which keeps the continuous rally afloat and helps in further Bitcoin Holding.

Bitcoin Holding Must Bull Trend Channel At $52K

The speculation about Bitcoin price measures has shifted from bulging to new levels to resolve. With a sharp move of more than 10%, the leading cryptocurrency by market cap could be the beginning of a more deep bottom. 

But as long as the price of bitcoin exceeds $52K, a long-term, parallel bull-channel will remain intact, according to Vailshire Capital CEO Jeff Ross. 

According to Ross’s chart, the parallel upstream channel started with a breakdown above that former high at $20K From then on the rising bullish channel, price action has taken the asset three times its former peak.

Bitcoin price is still trading well within the parallel bull trend channel | Source: BTCUSD on TradingView.com

Crypto Correction Within Larger Bull Trend “Confines,” Track To $100K Intact

Ross further states that if this upward trend channel takes place, the price of Bitcoin is well in progress, based on the technical picture, on the price of $100K per coin and above in the coming month. 

Basically, Ross says on-chain metrics, like the growth of addresses and the activity of blockchains are bullish, and the macro-environmental for Bitcoin Holding is “wildly bullish.” The comment probably is that the US Government has just issued another trillion-dollar incentive package, with checks starting to appear in potential crypto-investors accounts this week.

Continuing monetary expansion and fresh and free capital ready to flow into the market cap of the cryptocurrency could prevent an increase in coin prices. Many techniques favour bears that can make an interesting and volatile moment a couple of weeks before March ends. 

Bitcoin is indeed by most standards “wildly bullish,” but March is the worst month in asset history, and the quarterly closing of the candle is the first time ever to have bare divergences. Can the torrential upward trend withstand the foregoing factors, and can the macro-environment keep money way too bullish for bears to take a lead?

Weekend rally of Bitcoin

When the prices reached a record $61,000, Bitcoin abandoned all the gains made over the weekend. The prices for the most important cryptocurrency were only set to retreat rapidly in the coming days on Saturday. 

The largest cryptocurrency fell nearly 7 per cent on Monday and changed little on Tuesday with a London morning trade of around $55.900. Vijay Ayyar, Asia Pacific leader with the Luno crypto exchange in Singapore said the volatility is due to investors profiting from Bitcoin’s recent run.

Source: BTCUSD on Bloomberg

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March 16 Daily report: NFT DApps are driving $10m in daily volume, BTC price slips below $55,000, Cardano’s addition to Bloomberg Terminal could be bullish, SushiSwap Launches on Avalanche and Ripple Asks Documents Regarding Bitcoin and Ethereum

The four-largest NFT DApps are driving $10m in daily volume

According to DappRadar, the top four decentralized NFT apps now drive $10 million in volume each day. According to decentralized application data aggregator DappRadar, NBA Top Shot, CryptoPunks, Mooncats, and Sorare represented more than $10.57 million worth of secondary NFT DApps sales over the past 24 hours.

NFT DApps related altcoins reaches all new highs.

Bitcoin bulls take a breather while BTC price slips below $55,000

Sellers pushed Bitcoin price below $55,000 even as record-high BTC futures open interest and optimism surrounding the issuance of $1,400 stimulus checks for Americans had traders anticipating a rally. Bitcoin price sold off on March 15 as bears pushed the price back into the mid-$50,000 range a few days after (BTC) hit a new all-time high above $61,000.

Cardano’s addition to Bloomberg Terminal could be bullish despite investor scrutiny

While Cardano has certainly had an action-packed year, it seems that its popularity is about to soar significantly in the months to come. The reason behind this isn’t the major updates planned for the protocol, but the increased interest from major investors, both from traditional finance and the crypto industry.

SushiSwap Launches on Avalanche, Bringing Another Leading DEX to Avalanche’s Growing Defi Ecosystem

SushiSwap, an automated market-making (AMM) decentralized exchange (DEX), expands to Avalanche, offering users another high-quality trading venue in Avalanche’s rapidly growing decentralized finance (Defi) ecosystem. Users can perform core swaps and liquidity mining as they do with SushiSwap on Ethereum, but with lower fees and faster transaction finality.

Ripple Asks Court to Force SEC to Produce Documents Regarding Bitcoin and Ethereum

Ripple wants the regulator to produce documents regarding Bitcoin and Ethereum, the two largest cryptocurrencies that have been defined as non-securities. In a motion filed on March 15, they claim that the SEC has failed to produce any documents apart from the ones that were selected by the regulator.

“India Won’t Be Completely Shutting Down All of Bitcoin and Crypto”, Says Finance Minister.

Finance Minister Nirmala Sitharaman spoke out after a lot of speculation about the bitcoin and crypto ban in India! Speaking at the Conclave of India Today, Sitharaman said that India “will not shut down any cryptocurrency and will instead permit certain “experiments” on technology as an alternative form of payment.

Bitcoin and Crypto Speculation in Finance Ministry and Reserve Bank of India

Well, these encouraging words just come at a time when the crypto-interdiction has been repeatedly reported in India. In recent months, India’s central bank – the  Reserve Bank of India(RBI) – hinted at a crypto-ban.

For the Indian crypto community, this is a very good statement, which was looking forward to a positive development in this area. Furthermore, the statements of the Indian Finance Minister come when Bitcoin (BTC) reaches a $61k all-time high.

Check the current Bitcoin and Crypto price here.

The fintech developments in India are further recognised by Sitharaman. She said blockchain technology is the backbone of FinTech and cryptography and therefore the window for some experiments should be available.

The Finance Minister added:

From our (the finance ministry’s) side we are very clear that we are not shutting all options. We will allow a certain window for people to do experiments on blockchain, bitcoins, or cryptocurrency. We are not going to shut it off all

By Finance Minister of India

India’s Emerging FinTech Landscape

The Minister of Finance openly recognized the developments in India’s fintech landscape for the very first time.

On fintech, on the blockchain, there is a lot of work going on in India and we will certainly encourage that. We have got several presentations. Much works at some states level are happening. And we want to take it in a big way in IFSC or Gift City in Gandhinagar

Finance Minister Added

These encouraging words will give retail crypto-investors in India a lot of relief. And encourage them to invest in Bitcoin and Crypto Altogether.

Read out the previous discussion here.

March 15 Daily Report: Bitcoin Smashes New High of Over $60K, Supply chain tokens see triple-digit gains, Long-Awaited Crypto Clarity in the US, Elon Musk’s latest tweet pumped SHIB Token by 300% and Polkadot’s Tidal Finance.

Bitcoin Smashes New High of Over $60K as Valuation Now Exceeds JPMorgan, BoA, and ICBC Combined

Over the weekend, Bitcoin crossed a crucial milestone, hitting a record-high of over $61,000 before falling back slightly. Analysts are attributing Bitcoin’s surge in price to the institutional investments that have continued to back the digital asset.

Supply chain tokens see triple-digit gains as the global economy recovers

Three logistics projects that have benefited from the improving economic outlook are OriginTrail (TRAC), Waltonchain (WTC) and Wabi (WABI). Since early February, each has seen its token price increase by up to 300%.

Lawmakers Introduce Bill To Bring Long-Awaited Crypto Clarity in the US

The law’s objective is to establish the jurisdiction of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over cryptocurrencies. The SEC oversees assets classified as security, while the CFTC is in charge of commodities.

Elon Musk’s latest canine-themed tweet pumped SHIB Token by 300%

Though the Tesla CEO also composed a series of Dogecoin-themed tweets yesterday, the token price didn’t take off as it did in early February, having risen only 4.6% in the last 24 hours. However, the price of SHIB set a new all-time high of $0.00000008 before retreating to $0.00000005.

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Polkadot Tidal Finance Announces Early Supporter Round For $TIDAL

Polkadot-based Tidal Finance announced the early supporter sale for their token $TIDAL as the launch of its decentralized insurance marketplace is coming up next month. Once launched publicly, Tidal will help users buy and sell insurance against Defi protocols. Sellers will have to provide liquidity for Defi protocols and get Tidal tokens in return.

Digital Silver: Why Litecoin Is Poised To Bounce Versus Bitcoin 2021

If you can’t even call it the once-popular cryptocurrency built on Bitcoin code, Litecoin has a brutal “bull market.” But that could all turn around soon as the LTC-BTC trading pair brews a massive bounce.

A changeover of the trading pair could aid Litecoin in reaching the rest of the market, which has already established some and new all-time highs. The upside could be quick and violent if and when LTC recovers against BTC. Here is why. 

Lights Out For This Altcoin’s Bull Market

When compared with Dogecoin, Ethereum, Bitcoin, Binance Coin, and a few others, the Litecoin chart shows how deeply dark the crypto winters are for an altcoin. At the height of the last bull market, Litecoin was an incredible player who went flash above $360 per LTC. 

In 2019 the Altcoin led the charge, driven by the buzz around the block half-payout of the Protocol. The code of Litecoin is very similar to the Bitcoin code, with several key similarities that the “digital silver,” such as hard-coded scarcity, would benefit from.

There are only 84 million LTC, a mere quarter of the supply to the BTC. And if scarcity drives demand behind Bitcoin, it’s confusing that Litecoin doesn’t follow. However, the interpretations of the LTCBTC price chart by one analyst show a bounce.

LTCBTC on TradingView.com

Smart Money Signals That Litecoin Is Ready To Bounce Against Bitcoin

The trader who shared this chart says that LTCBTC currently supports a decreasing wedge in the long term, which corresponds with a sweeping disparity in the balance volume indicator (OBV). 

The OBV is often considered the “smart money indicator” – named as such for its ability to collect traffic signals before prizing begins. These signals represent the use of “smart money” early before billing. Fractals from the last bull market suggest an emergence is near, but coin owners take their time.

Losing support would bring LTCBTC to the lowest level at this time, but a complete overturn could bring the altcoin back to the highest in its Bitcoin relation. For many years, Litecoin is one of the oldest and only one of the few cryptocurrencies to hang on the top ten assets by market cap even though it is incapable of reverting its previous price record. 

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Will Litecoin bounce back to Bitcoin and recover completely?

For the last couple of weeks, Litecoin has traded in an upward trend and finally came out of an essential 4-hour pattern. Ahead of a new 2021-high over $250 LTC bulls face weak resistance. In the 4-hour chart, Litecoin broke up from the ascending triangle pattern with a price target of $265, a move of 27% calculated by reference to the size of the pattern. 

LTC/USD 4-hour chart

The IOMAP chart only shows a crucial area of resistance between $227 and $233, with 42,000 addresses producing 2.24 million LTC volume. The IOMAP chart seems to be adding credibility to this perspective. There are hardly any other obstacles, however, above this point.