The cryptowinter seems finally to come to an end as the trading volumes and liquidity of the leading cryptocurrencies have significantly increased recently – the latest data provided by the observations of DataLight analysts.
Fact is – the volume of Ethereum trading is currently reaching the same levels as in January 2018, when the price of the second-largest cryptocurrency was at a peak. The volume of Bitcoin trading has recently reached the values of April last year. Moreover, since the beginning of 2019, the liquidity of these two leading cryptocurrencies has increased several times.
The total trading volume of cryptocurrency reached 300-day ago ($33.85 billion) on Tuesday, February 19 – the conclusions made Sam Wimet from CoinDesk. The data from Coinmarketcap suggests, that the main volume (about 88%) is generated mainly by only the 10 most capitalized assets.
Speaking about the market forecast: the foreseeable market future looks bright – according to CoinDesk analyst Sebastian Sinclair, after passing the level of $4100 the Bitcoin will test the psychological mark of $ 5000.
The first cryptocurrency recently overcame an important resistance level, the 100-day moving average (MA) at $3850, which was quite an obstacle for the record period – this impregnable frontier took 272 days to break through! However, the change in the long-term trend is still questionable, as the bulls have yet to penetrate through powerful resistance levels.
Bitcoin is currently trading at $ 3965 on the Bitstamp exchange. The upward movement stopped after the BTC price reached a local high. Thus, if in the near future the upward momentum on the background of high trading volumes resumes, the price will easily reach MA 200 and the level of $5000.
Representatives of the exchange assure that users funds will be completely safe. Technical works are connected with modernization and transition “in the best data centers that will increase the reliability of a platform and will increase uptime”.
Among other vital news this week – The promising Spanish mining startup has to pay the astronomic amount of money to its investors back.
CryptoSolarTech will return to investors the funds raised during the ICO due to Cointelegraph. The company initially planned to build a mining farm in the South of Spain, as the key feature of the project was to be solar energy used to power the equipment.
However, the project was rejected by local authorities. The startup has committed to return the funds to investors within 60 days. At the same time, the company stressed that they will not take responsibility for CST tokens purchased after February 19.
Funny thing is, the startup team planned to get at least $900,000 for the project, and $68 million was gathered in less than 2 months, the main amount of funds came from ICO investors from Spain and Singapore. The CST token lost a large part of the cost due to these news – only in the last day on the background of negative press the coin rate fell by 85%.
We wish you fine weekdays and inspiration for a profitable trading next week! Stay tuned!