Bitcoin almost reached $5300 on Thursday, but rolled back, unable to strengthen growth. Apparently, market participants have become more cautious, so on Friday morning, we observed a decrease to $5,160. During the rollback, Bitcoin touched a 200-day moving average, which now looks like an important level of support. The predominance of indecision in the current price range may result in a new correction phase to the lower limit of $4K.

The theory of halving influence (reduction of miner reward) has become a trending topic of recent days. CoinMetrics considered that the last two halvings in 2012 and 2016 were accompanied by the growth of Bitcoin before the event and within a year and a half after. The historic rally to $19,700 became the apogee of the second halving. And the next stage is scheduled for 2020. Nevertheless, it is worth considering the background change around the BTC. The close attention of the community, retail and institutional investors, regulators, algorithms can simply make it impossible to preserve past patterns in the future.

Market watchers noted the movement of digital assets from unknown wallets to crypto exchanges, which may indicate a willingness to sell. Whether this is so, we can find out this coming weekend.

Among the news is to highlight the serious intentions of Binance in relation to its BNB token. They have developed their own blockchain and will transfer the coins from the Ethereum network to the Binance Chain ecosystem. Against this background, the BNB token is one of the few that has shown an increase of almost 5% in the last 24 hours.

In addition, Forbes published a list of the top 50 companies that use the blockchain. The list of companies includes Amazon, BBVA, BNP Paribas, Citigroup, Facebook, Foxconn, Google, and many others. It becomes obvious that if the future of cryptocurrency is a big question, the technology itself can stay with us for a long time.

BTCUSD


Trade Responsibly. CFDs and Spread Betting are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.37% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider. The Analysts' opinions are for informational purposes only and should not be considered as a recommendation or trading advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: Fed-led rally could have legs towards $65,000

Bitcoin Weekly Forecast: Fed-led rally could have legs towards $65,000

Bitcoin has risen 7% so far this week, supported by the US Fed interest-rate cut and more than $300 million in ETFs inflows. The recent surge led BTC price to shatter several key technical resistance levels, a sign that the current two-week rally has likely some more way to go towards $65,000.

More Bitcoin News
Ethereum, BNB and POL holders on the watch as BingX faces loss of $26 million in hack

Ethereum, BNB and POL holders on the watch as BingX faces loss of $26 million in hack

Crypto exchange BingX said on Friday that it suffered a hack, an attack that led to “minimal” losses that researchers at PeckShield estimate at $26.68 million.  The attacker swapped the stolen altcoins for Ethereum, Binance Coin and Polygon tokens, according to on-chain data. 

More Cryptocurrencies News
Pepe price forecast: Eyes for 30% rally

Pepe price forecast: Eyes for 30% rally

Pepe extends the upward movement on Friday after breaking above the descending trendline and resistance barrier on Thursday. PEPE’s dormant wallets are in motion, and the long-to-short ratio is above one, further supporting this bullish move and hinting at a rally on the horizon.

More PEPE News
Shiba Inu is poised for a rally as price action and on-chain metrics signal bullish momentum

Shiba Inu is poised for a rally as price action and on-chain metrics signal bullish momentum

Shiba Inu remains strong on Friday after breaking above a symmetrical triangle pattern on Thursday. This breakout signals bullish momentum, further bolstered by a rise in daily new transactions that suggests a potential rally in the coming days.

More Shiba Inu News
Bitcoin: Fed-led rally could have legs towards $65,000

Bitcoin: Fed-led rally could have legs towards $65,000

Bitcoin (BTC) has risen 7% so far this week, supported by the US Federal Reserve (Fed) interest-rate cut and more than $300 million in ETFs inflows. The recent surge led BTC price to shatter several key technical resistance levels, a sign that the current two-week rally has likely some more way to go towards $65,000.

Read full analysis
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

BTC

ETH

XRP