Bitcoin
Do not sell your Bitcoin or Tron anytime soon! Here is why
Over the past few months, the market has been bearish, and cryptos have been red. Bitcoin has been at low but lately; it has risen above the $6,500 resistance level. On the other hand, despite the increase in the value of Bitcoin, other altcoins such as Tron (TRX) haven’t really surged like Bitcoin, due to the fact that most investors are beginning to take profits as a result of the bullish outlook in the market.
Right now, Tron is busy partnering with big companies, and most crypto exchanges have resumed the withdrawal and deposit of Tron (TRX). We are at the start of a giant crypto bull run, but it is difficult to say what will happen in the future for both Tron (TRX) and Bitcoin (BTC). However, there still are reasons to hold on to Tron and Bitcoin and not sell them anytime soon, because things are beginning to take a bullish outlook. Let me explain why.
Why you should have faith that Tron and Bitcoin will fly high before the year closes
We do know that the Q2 of 2018 has been tough, not just for Tron or Bitcoin alone, but other cryptocurrencies too. The recovery of Bitcoin at the beginning of July has changed everything in the crypto market, and at the moment, the buying volume is currently on a high side, and things are beginning to look good (very good).
It is also important to know that the bears have been pushed aside and the TRX is gaining its value gradually. Additionally, Tron has proved it is one of the most promising digital coins in the crypto sphere, and soon, it will become one of the top cryptos once the bullish sentiment entirely takes over.
Mastercard’s patent to link cryptos with fiat accounts – A new turn around for cryptocurrencies like Tron and Bitcoin
Banks don’t want to sit down there and just watch the world advancing with new technologies; instead, they want to be part of it too. Mastercard has just been given a patent that it has the right to manage fractional reserves of blockchain currency.
Indeed, MasterCard’s patent is a U-turn for the crypto sphere, and it also implies that we will be using our cryptos credit to buy goods very soon. This will also enable a user to have two linked accounts in a bank – one for fiat, and the other for the cryptocurrency. Cryptocurrencies, which are the bank’s coin will be featured on Mastercard’s patent – Tron and Bitcoin will undoubtedly get featured.
Tron’s improved presence and demand
The increased presence and demand for TRX is a big reason why you should hold on to Tron. It is essential to know, right now, TRX is one of the most traded cryptocurrencies in the crypto market with trading average volumes of about $190 million every day.
Final words
Tron is the 11th largest cryptocurrency by market cap, and it is priced at $0.034; while Bitcoin still holds the top position and priced at $7,730 at the time of writing. Both cryptos, Tron (TRX) and Bitcoin) have massive potential to go to the moon soon now (maybe even beyond that, mars?), and are wearing green – do not be surprised if Bitcoin surges further to about $8000 this week.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.
Fundamentals
Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.
Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.
Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.
Last week on Thursday, cryptocurrency experts took notice of…
Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.
Economic Outlook
Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.
The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.
Additionally, the central bank indicated that three rate…
Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.
Fundamentals
Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.
According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.
Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…
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