Early trading this week has seen a tight range develop in the marketplace as the next catalyst is anticipated.
The Great Debate in Cryptos Rages and their Results this Week are Important
The great debate within the cryptocurrency space continues like massive solar flares. Optimistic speculators and analysts point to last week’s late surge and say trading volumes are increasing again. Many of the same analysts are also suggesting the approaching tax deadline which is tomorrow in the U.S, is allowing traders to freely participate again in digital assets. However, naysayers argue last week’s jump in prices are only a temporary good result, which will vanish again near term. After enjoying two solid days of gains last Thursday and Friday, digital assets have traded in a tight range. Meaning this week’s results will be very interesting to watch for all crypto participants.
Renewed Sense of Vigor Short Term for Bitcoin, Steady Price Action
Bitcoin has made a solid display of strength. Late last week the digital asset broke through short-term resistance, and as of this morning, Bitcoin is trading near 8100.00 U.S Dollars per coin. The cryptocurrency has plateaued since making highs on late Thursday and it appears to be waiting for its next catalyst. Digital assets, including Bitcoin, have been in search of an emotional rescue the past three months – and last week’s price action has given some speculators a renewed sense of vigor. Resistance for Bitcoin appears to be about 9100.00 U.S Dollars, while important support may be interpreted around the 7700.00 juncture.
Initial Coin Offerings Still Attracting Many Investors per Dollars Spent
Initial Coin Offerings have suffered the past few months from bad publicity, as the hammer from regulatory agencies has proven difficult. However, the fact is new ICO’s continue to be launched on a daily basis through a number of platforms, which offer a chance to participate in the growing sector. Investors who are pursuing opportunities have been more cautious, but the dollar amounts spent in the global ICO market still shows a vast amount of interest.
Crypto 42 Summit in Vienna, Austria Today
Vienna, Austria is holding the Crypto 42 Summit today and its agenda covers the use of tokens, the global regulatory environment, and will highlight European Blockchain developments.
- April 16th, Austria, Crypto 42 Summit in Vienna
Yaron Mazor is a senior analyst at SuperTraderTV.
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