Bitcoin, Terra (Luna) Talking Points:
- Bitcoin bulls return, $ 30,000 psychological level remains key
- Terra and Coinbase collapse, can the digital world recover?
- USD gains advantage as a safe haven (at least for now)
Bitcoin ‘buffer’ investigated – Crypto accidents continue
Bitcoin, Ether and other major cryptocurrencies are currently remaining in the headlines after a tumultuous week of whiplash action.
As a number of both fundamental and geopolitical factors continue to weigh on risk sentiment, digital assets (which have performed exceptionally well since the start of the Covid-19 pandemic) have recently struggled to find optimism. justification for it previously allowed the market value of the industry to temporarily rise above the $ 3 trillion mark before retreating below the $ 2 trillion mark.
Although the dismal release of Coinbase earnings and the recent collapse of the stable currency Terra (USDT) have contributed to a decline in demand for digital assets, Bitcoin prices have managed to temporarily rise from the central psychological level of $ 30,000, as in the moment remains as both critical support and resistance to the impending relocation.
As the uncertain geopolitical background continues to weigh on digital assets, the BTC / USD is likely to continue to help catalyze price action, at least for the time being.
In the coming week, the release of important economic data and major news events may continue to contribute to the movement in the prices of digital assets with the potential to either increase or decrease the price of digital assets.
— Written by Tammy Da Costa, analyst for Technewscity
Contact and follow Tammy on Twitter: @ Tams707