Bitcoin retained above $ 30K, showing at the beginning of a new working week an increase of 5%, and is traded about $ 34k. Reference cryptocurrency avoids sharp movements. Large investors can take a pause, waiting for new triggers. Moderate price dynamics is confirmed by technical indicators. The index of greed and fear for Bitcoin and the largest cryptocurrencies is in "greed" mode, but so far in moderate form. The RSI index on day chart is also distant from overbought. Thus, from the technical side there are no obstacles to growth, but so far all participants can exercise enhanced caution.
Bitcoin resisted above $ 30K, showing at the beginning of a new work week an increase of 5% and trades about $ 34kBitcoin is obliged to their historical maxima institutional investors. It is from them that they are waiting for the steps that could create a pulse for the entire market. From the American regulators, they are waiting for at least a neutral position in relation to cryptocompany. Microstrategy Incorporated (NASDAQ: MSTR) considers price levels of Bitcoin about $ 32K acceptable to purchase. Nevertheless, the purchase of bitcoins by $ 10 million is not now sufficient to create a driving force. It is likely that we will see such decisions about purchases on relatively small amounts whose goal will create a more positive news background around cryptocurrency.
The highest growth among leading cryptocurrencies is now enjoying Ethereum (ETH). The main altkown is growing per day by more than 8% and traded above $ 1,400. If the coin succeeds in resist the historical maximum or confidently continue growth, we will see a new impetus for ETH and other top altcoins. Promotion of developers along the way to transition to the second version of the project, as well as the approach of launching futures on CME in early February, have a very positive impact on the value of the coin.
US President Joe Biden appointed Gary Secretary of Secress SEC. Gensen, at a minimum, is considered not an opponent cryptocurrency. Although it speaks positively on the cryptosector in general, he also stated that XRP and Ethereum could be considered securities. Whatever the personal position of the General Shesen, it is necessary to understand that within the framework of the system it will make decisions in accordance with the general political course, which in the United States develops from very many components.
Now institutional cryptom is only gaining momentum. If the regulators are not to put sticks in the wheels, we will find an inevitable increase in the revolutions of the cryptosector. Almost in the world of large capital there is someone who will voluntarily refuse to get a huge profit from investing in cryptocurrency. Nevertheless, on the example of Libra, we saw that in the case of the presence of political will and the threat of the emergence of systemic risks, prohibitive solutions for even the largest projects are accepted in the shortest possible time.
Team of analysts FXPRO.
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