The magic boundary is approaching
Good news from the crypto space: The cops stay at the trigger and the Altcoins participate in the slipstream of the Bitcoin. Now, with the five-digit USD range, an important psychological barrier is coming into sight. Crossing it would be a strong signal for the entire market. We take a look at what is currently happening in the crypto market.
Current Bitcoin price
At the time of writing, the Bitcoin is quoted at USD 9583. This corresponds to a daily increase of 1.62%. The resistances at 9600 USD and 9800 USD represent the last barriers before the magic 10000 USD mark. The support area at 9400 USD serves as a strong base for new attacks. A low 24 hour volume of around $31 billion could take the wind out of the bulls’ sails in the coming hours. However, enormous price breakouts are not uncommon in this highly volatile market, even without a high trading volume. Time and again the term “FOMO” (fear of missing out) comes up in connection with the important USD 10000 mark. It is associated with investors who are panicking about missing the next bull run. As a result, these investors invest capital without looking at the fundamentals in any depth.
The train driver does not wait
A widely spread motto is: “Don’t jump on moving trains!” Metaphorically, this advice can be optimally related to the current market situation. A month and a half ago, the global economy slid down and looked into the abyss. Bitcoin shot below the 5000 USD mark and crash forecasts were ghostly in the media. 6 weeks later we are looking at another reality. The No.1 crypto currency has survived the aftermath of the Halving and is performing in a league of its own. But is it now too late to take the current hype with you? Every investor must answer this question for himself. However, whale movements and unexpected money movements can cause a quick slide in prices and destroy fundamental analysis.
Altcoins perform in the slipstream
The alternative assets benefit from the current performance of the first mover. Ethereum and Co. climbing steeply upwards on Saturday. The second largest crypto currency jumps to a price of USD 236 with a pump of about 8%, while Ripple fights back to the podium. Outside the top 20, Maker delivers the strongest daily curve with a price jump of 23 %.
Tezos Staking on Coinbase
European users can now stock their Tezos Coin stocks on Coinbase. Coinbase already implemented the XTZ-Staking some time ago, but only now users from Europe can use the program. Investors receive an annual interest of approximately 5 percent. On Binance this should be between 6-7 %. Staking programmes are popular systems that allow investors to increase their coin holdings. By stacking on Binance, there is no need to install the XTZ software. Tezos transfers the bonus coins to Binance at intervals of approximately three weeks. From there the coins are distributed to the qualified users.
In a statement the renowned exchange made the following statement: “You can begin earning rewards on your crypto. The current estimated annual return for Tezos staking on Coinbase is ~5%. You’ll see your pending rewards increase in real-time in the app, and once your initial holding period completes (35–40 days), you’ll receive rewards in your account every 3 days.”