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Different Directions in The cryptocurrencies

The cryptocurrencies market is going in 3 different directions. There is one part that you can consider it as the main coin. Other coins are classified as investing and entertaining coins. It is a hard thing to predict what would happen to them if the future. But we can certainly say that they are having a big future in the ecosystem. The second part of ecosystem that we are going to talk about it is, Bitcoin. Bitcoin has tied up itself to a precious place that is called digital gold. financial services are using them.Bitcoin price is being compared with the price gold a lot, in the next item we will mention that it is better that gold and why. Also, about Ethereum is going to be one of the ecosystem that we are talking about.

Bitcoin is Better than Gold

We can say this for sure that Bitcoin is so much better than Gold. Bitcoin has the most attention inthe cryptocurrencies market. When the price of gold goes up, people mine it more, But you cannot do the same thing with Bitcoin. Bitcoin price goes up when everyone buys some amount of it. This would create many participation.

The Third Ecosystem

This third one that we are talking about is Ethereum. Ethereum is making an ecosystem around decentralized financial services, and people and also the market will be driven by these demands in growth of that ecosystem. These three different stories, so these markets can be very different. We won’t be talking about crypto as a whole and we will talk about Ethereum ecosystem when Bitcoin buy you proposition.

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Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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‘Be Patient- Bitcoin Price To Recover’ Says A Popular Analyst

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The global market capitalization for the past couple of days is experiencing an extreme drain. Most of teh crypto assets are registering a consecutive 5 red daily candles in a row. The huge selling pressure accumulated on the Bitcoin price has compelled it to bottom below $38,000. By trending very close to the support levels around $37,000, the fear of BTC price revisiting levels around $34,000 hovers. 

Despite the bearish sentiments surrounds the assets, yet it is believed that the price will recover very soon. A popular analyst Alan Santana, suggests his followers to patiently wait until the price flips the bears. He also said that some people are already giving up Bitcoin, falling into the trap of ‘Panic Selling’. And also asked his followers not to join them, rather wait until the next pump.

Also Read: Dogecoin Price Feared To Continue With A Bearish Trend, Is $0.2 At Stake?

btcchart

The price seems to be following the path led by the analyst as it bounced significantly on visiting the support zone at $37,978. With a significant bounce, the price could surge close to $40,000 or above. However, yet the chances of forming lower lows still hover the rally. And in such a case, the price could even visit the lower support at $35,700 and rebound. 

However, $35,700 are among the strong support levels and if in case, the Bitcoin price fails to sustain, then a plunge below $34,000 may be imminent. But considering the indicators, the RSI has already bounced back and MACD showcases ease in the selling volume. And hence considering the factors a bounce above $40,000 may be on the way for BTC price.

Also Read: Cardano(ADA) Price Spikes As Bitcoin & Ethereum Yet To Manage The Trembled Situation!

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