Cryptocurrencies, eyes on Bitcoin and Ethereum. Cryptocurrencies are increasingly popular: market capitalization increased by $ 5 billion last week. And they are increasingly under observation even by small savers who see the main digital coins increasingly accepted daily. Also for the purchase of goods and services: among the small Italian operators I discovered that the jeweler Alessandro Berto of Dogale Jewelery in Venice sells some of his precious cryptocurrency creations (mainly Bitcoin) every day on the American market. Investors keep an eye on two ‘prey’ in particular, of course Bitcoin and Ethereum. Let’s see what are the scenarios to keep under control.
Cryptocurrencies, eyes on Bitcoin and Ethereum
Bitcoin is increasingly popular for its ‘uncoupled’ volatility from central bank prices. And also from the possibility of fraud, which today led to the discovery of fakes even in the physical gold market. Ethereum is instead a digital currency that seems to be able to offer good margins for rapid speculation of a few days.
Bitcoin positive in the short term
Bitcoin’s positive trend and its head-to-head against the US dollar will continue in the short term, after the last close at $ 9,895.00. For the current week, resistance to 9950.00 is to be monitored. And after many violations above 10,000, the hypothesis of a possible step towards a settlement at 10,000 -10,025.52 that will probably be before the end of the year. But some analysts who compare cryptocurrency with physical gold think that the psychological threshold of 10,000.00 will not be in sight before 2021, i.e. after the American elections and the winner’s installation in the White House.
This first step could open the way to lead to the 10,441.24 area and possibly to the eloquent level 10,668.39. The most ambitious Bullish target is € 12,477.28 by July 31st. But beware of a denial in rupture: a descent towards the support at 9.560.00 would lead us to imagine a slide towards the 9.094.98 area and towards 8.708,76. Bitcoin Cash should also be monitored, which broke the resistance of $ 260 after passing, despite skeptical opinions, the $ 250 level.
Ethereum is aiming for $ 290
For now, stop in front of the $ 247 share rockfall (there was a slide at 234 over the weekend) Ethereum could soon pass the 250 level and aim for the 290 test in the coming weeks, with a break perhaps around 265. In the event of a return to below $ 235, better not to dare like Icarus, but be prepared to test a lower level, even at $ 223.