Where is Dogecoin?
Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
Bitcoin is firm despite recent rebound from $6,500
The most popular digital coin, Bitcoin is still firm on Monday notwithstanding a recent rebound from $6,500.
On Sunday, Bitcoin rallied by 0.26% after Saturday’s 0.19% leap to conclude the trading day at $6,447.9. Moreover, the weekend’s profits left the number one crypto asset with a 0.68% dive for the week.
While the final outcome turned out to be a relatively moderate one for Bitcoin, but recent days have certainly brought volatility pickup, with Sunday facing some relatively huge fluctuations, in contrast with the millpond moves in October.
Following a quite range bound morning session, a broad based crypto market sell-off definitely weighed. As a result, Bitcoin headed south through the first key support mark of $6,407.23 as well as the second major support one at $6,383.37 reaching an intraday minimum of $6,357.8 before rebounding to $6,400 levels.
The rebound to the sub-$6,400 level showed up on the back of the ongoing rebound in Bitcoin Cash ahead of another hard fork.
In addition to this, there has been another story, with some of the key digital coins demonstrating considerable profits for the last week. As a matter of fact, Ripple’s XRP rallied by 8.5% amongst the front runners, while Bitcoin Cash stood in red territory, diving by 6.38% from the previous week’s leap.
On Monday, Bitcoin managed to ascend by 0.11% hitting $6,455. Bitcoin was moving to a morning maximum of $6,481 before rebounding to a morning minimum of $6,444.4.
For the day ahead, a rebound through the morning maximum as well as a break through the first key resistance mark of $6,485.93 would definitely back a run at $6,500 before any rebound, although Bitcoin won’t require making a move in the earlier part of the day to back a rebound to $6,500.
Similar
Bitcoin: down at $40,000; more losses ahead?
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Ethereum: faster than Bitcoin
Ethereum crossed $3000 recently and is aiming at $3500 already. Is it taking over Bitcoin's place?
Latest news
The US Dollar Is Correcting
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
Bearish Signal For The USD
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
Current Risks for Developed Economies
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
