RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Cryptocurrency

Bitcoin maintain $40k as vital resistant

Rate Captain by Rate Captain
March 21, 2022
in Cryptocurrency
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Despite the fact that bitcoin’s price has dropped dramatically over time, reaching a high of $42K last week and sustaining the trade price above $40K has been a vital resistance for the coin.  However, Ethereum, the largest cryptocurrency, remains around $2,800.

The net flow of bitcoin is also negative, as dealers withdraw their funds from exchanges.

AlsoRead

MetaMask Has a Plan to Help Victims of Crypto Scams

Terra community passes proposal to revive LUNA cryptocurrency following stablecoin-led implosion

Brazil’s Largest Crypto Exchange Partners With Stellar To Work on a CBDC

Due to prior significant outflows during the correction period, there may be a supply shock in the future when demand for the pioneer crypto-asset approaches 2021 levels.

Since early 2022, there have been two critical levels of supply and demand for Bitcoin. Above $45K, there appears to be a lot of interest in the form of bids and stop-losses, so this is a crucial level to watch.

The $38K support zone on the 4-hour time frame has kept Bitcoin from falling to lower levels.

Furthermore, the price is around its previous pivot and below a short-term resistance mark at $42K, raising the possibility of a double top. If the $45K supply level is reached, Bitcoin will have access to the $45K supply zone.

While the Bitcoin price chart might change anytime, it currently looks better than it has for quite some time

Analysts have already cautioned that there has been a significant shift in Bitcoin price activity, with experts forecasting that the rise would not persist and that new lows would soon emerge.

In addition to economic and market reasons that may influence traders’ desire to shift funds away from centralized companies, recent regulatory restrictions put on cryptocurrency exchanges have caused investors to worry.

The statements caused outflows from all major exchanges as traders began actively shifting cash to noncustodial wallets with one-sided access.

Previous Post

Why should you invest in Ethereum?

Next Post

NNPC Alleged to Deduct N242.53bn Fuel Subsidy from FAAC this Month

Related News

MetaMask Has a Plan to Help Victims of Crypto Scams

MetaMask Has a Plan to Help Victims of Crypto Scams

by Rate Captain
May 26, 2022
0

MetaMask, the browser-based wallet for navigating the world of Web 3, can now help victims of crypto scams and phishing...

Tether, USDT market cap has dropped by US$10B since UST collapse

Terra community passes proposal to revive LUNA cryptocurrency following stablecoin-led implosion

by Rate Captain
May 26, 2022
0

Nine days ago, Terraform Labs founder Do Kwon shared a plan to revive the Terra Ecosystem after its stablecoin UST...

Brazil’s Largest Crypto Exchange Partners With Stellar To Work on a CBDC

Brazil’s Largest Crypto Exchange Partners With Stellar To Work on a CBDC

by Rate Captain
May 25, 2022
0

Mercado Bitcoin and Stellar are joining forces to develop a minimum viable product as part of the Brazil’s efforts to...

BNP Paribas has joined JPMorgan’s blockchain-based network.

BNP Paribas has joined JPMorgan’s blockchain-based network.

by Rate Captain
May 23, 2022
0

French banking giant BNP Paribas (EPA) has joined JPMorgan's (JPM) blockchain-based network for fixed income market trading, according to a...

Next Post

NNPC Alleged to Deduct N242.53bn Fuel Subsidy from FAAC this Month

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Google hit by second UK antitrust probe into online ad

Google hit by second UK antitrust probe into online ad

May 27, 2022
Ethereum breaks below $1,800 as selling pressure accelerates

Ethereum breaks below $1,800 as selling pressure accelerates

May 27, 2022

Popular Story

    Rate Captain

    RateCaptain

    We bring you the most accurate in new and market data. Check our landing page for details.

    • FX Rates
    • Commodities
    • Money Market
    • Cryptocurrency
    • Corporates
    • Contact Us

    Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

    No Result
    View All Result
    • FX Rates
    • Commodities
    • Money Market
    • Cryptocurrency
    • Corporates
    • Contact Us

    Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.