#Bitcoin , #Ripple , #Ethereum , #EOS , #BitcoinCash , #Litecoin , #Tron , #Stellar , Bitcoin SV, Cardano: Price Analysis, Feb. 1
#CEO of CoinList Andy Bromberg expects 2019 to be a quiet year for #cryptocurrencies in terms of price while crypto firms focus on developing products and services that are useful to the public. A few #analysts , however, expect the leading digital#currency to fall further. With the January’s negative closing, Bitcoin has now fallen for a record six months in a row.
This has not influenced the top firms to shelve their#crypto related projects. Investment firm Fidelity has said that its cryptocurrency #trading and custody platform is in the final stages of testing. Currently, these services are being offered to a small group of clients who are helping the firm test and refine the process. Once complete, the services will be offered to the other institutions and large clients.
Hopes for a #Bitcoin ETF are back on track as the Chicago Board Options #Exchange , along with investment firm VanEck and financial services company SolidX, has re-submitted its application to the United States Securities and Exchange Commission.
Due to the ongoing #bear #market , many crypto companies are struggling to make ends meet. This has presented an opportunity to the hedge funds that are well capitalized. They have turned venture#capitalists and are making the most of this fall, reports Bloomberg. Following these new developments, let’s see if we find any buying opportunities.
#Bitcoin (BTC) has been inching higher for the past three days. It is close to the 20-day EMA, which will act as a resistance. The bulls have not been able to rise above the 20-day EMA after falling below it on Jan. 10. The 20-day #EMA is sloping down and the RSI is also below 50, which suggests that the bears have an upper hand.
If the price turns down from the moving averages and plummets below $3,236.09, it will trigger a large number of stop losses. The next support on the downside is at $3,000 and below that $2,600.
If the bulls push the price above both the moving averages and the downtrend line, it will signal a probable change in trend. #bitcoininfo - 59 minutes ago