- Bitcoin price spiked above $9,500 on Tuesday but fell short of $9,600 but bearish pressure still in the picture.
- Bitpay, a blockchain payments provider launches a MasterCard debit card for US users to spend cryptocurrencies.
Volatility has made a comeback in the cryptocurrency market. Consolidation ended on the weekend as Bitcoin dived to $8,900 on Monday. The market is mixed red and green on Tuesday during the Asian session.
BTC/USD majestically stepped above $9,500 during the Asian session. The move brought back the hope of seeing Bitcoin at last week’s levels, closer to the psychological $10,000. However, a minor reversal has occurred with Bitcoin diving under $9,500 to trade at $9,493. The prevailing market value is standing 0.65% above the opening value.
ETH/USD bulls are working hard to overcome the seller congestion at $235 on the upside and also contain the price above $230 (initial support). An intraday low has been traded at $228 and a high at $237.39. The existing trend has a bearish inclination. The growing volatility shows that if the resistance at $235 is not broken, it would become increasingly difficult to keep the price above $230.
Ripple, on the other hand, is in the red after a loss of 0.36% on the day. The recovery from Monday’s dip to $0.1850 once again fell short of $0.1950. Support is currently being sort out at $0.19. XRP/USD is exchanging hands at $0.19206. Gains above $0.1950 could be the key for the next rally above $0.20.
Read more: Crypto Market News: Bitcoin on the springboard to $10,000
Bitpay’s prepaid debit card unveiled
Bitpay, a leading payment provider in the cryptocurrency industry has released a debit card that will give customers based in the US an opportunity to spend their cryptoassets in the same way as fiat money. The debit card has been launched in collaboration with MasterCard. Users will now be able to spend their Bitcoin and other supported cryptocurrencies at “instant reloads.” The dollars will be drawn from the users’ Bitpay accounts for both online shopping, physical shopping, and even cash withdrawal at ATM.
The company says that no conversion fee will be imposed. However, Bitpay did not disclose the card transaction fees. Note that users will incur a $2.50 fee for cash withdrawals at ATMs while a 3% fee will be imposed on foreign currency exchange.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ripple wipes out weekly gains, experts comment on role of Ripple stablecoin
Ripple declined to $0.52 on Thursday, erasing all gains registered earlier this week. Ripple SVP Eric van Miltenburg’s comments on the firm’s stablecoin, and how it is expected to benefit the XRP Ledger and native token XRP have raised concerns among crypto experts.
Hedera HBAR slips nearly 10% after air is cleared on mistaken link with giant BlackRock
HBAR price is down nearly 10% on Thursday, partly erasing gains inspired by the misinterpreted link with BlackRock. Despite the recent correction, Hedera’s price is up 44% in the past seven days.
The reason behind Bonk’s 105% rise and if you should buy now Premium
Bonk price has shot up 105% in the past five weeks. A retracement into $0.0000216 or the $0.0000152 to $0.0000186 imbalance would be a good buying opportunity. Patient investors can expect double-digit gains from BONK that could extend up to 70%.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?