London, UK, 2nd Oct 2021, ZEXPRWIRE – 

Introduction:

Financial Centre’s broker Phillip Ross discusses Bitcoin and Ethereum, the first and second-largest virtual currencies, had plunged in value by nearly 20 percent since Monday morning as of 3 pm yesterday.

The bitcoin price is up 4.72% at $44,045.69 USD per coin and the cryptocurrency market capitalization stands at 828 billion dollars (£600m). In addition to this uncertainty from last week’s Evergrande scandal also triggered a bear run in Bitcoin values which has negatively impacted other coins such as Ethereum.

Twitter And No Fees Policy

The broker said it could be a promising start. As it was seen that Ethereum’s prices dipped up to 2.86 per cent over the last week, and Ethereum’s market cap stands at $369 billion dollars right now. Bitcoin went slightly higher after Twitter made it possible for third-party bitcoin tipping services on iOS devices that allow people in different countries to easily pay one another with no fees or waiting periods between transactions like what we see today when sending money internationally using traditional methods such as wires & Western Union etc.

He further adds that after a volatile weekend for cryptocurrency trading, the markets are expected to move towards fundamentals. The largest coin by market capitalisation, Bitcoin surpassed $43K and entered its upper Bollinger Band territory following several hours of heavy volumes that have pressured prices upwards since Friday’s close when it dropped below 40k again. With BTC surpassing significant resistance levels (namely around 4600) most other top coins followed suit as they placed their bets on where this will end up next – whether higher or lower than current levels.

Rising Value Of Other Currencies

According to Financial Centre’s broker, it was a good day for cryptocurrencies! Cardano, one of the more popular virtual currencies on Monday saw its value rise by over 0.72%. The price index stood at $2.26 and it witnessed 3.41% growth in the last seven days alone which is a very encouraging sign considering how prices mostly fluctuate up or down every single trading session with little consistency across different coins within this market.

He says Binance Coin also did well as 4/5th their altcoins showing gains against Bitcoin SV (Bitcoin). At press time they are being traded around 3800 satoshis each after having been valued lower than 3000 sats just yesterday morning – an increase from 12 noon.

Signs Of Life In The Crypto Market

FinancialCentre’s broker says that the crypto market is showing signs of life, with a 5.75% increase over the last day and an additional 23%. All coins combined make up 18 per cent of the total 24-hour volume right now; it was only 10 per cent in January when prices were relatively low for digital currencies overall. Bitcoin dominance has also decreased slightly from its recent peak at about 45%.

The digital currency is up over 23% in the last seven days and its price has increased to $4325.12 right now which means we need to keep an eye on it for any potential breakout this week especially when factoring in positive fundamental news such as ETF announcements ahead of the end of October.

Volume Of Coinbase

He also said that exchanges like Binance, Coinbase, and Bitfinex are already showing signs of life as Coinbase is maintaining its $5 million trading volume per minute which hasn’t changed much over the last few days.

Financial Centre’s broker says that when it comes to the cryptocurrency market, the only thing we need to keep in mind is when a coin moves its price. He added that currently, most coins are all showing positive signs for future returns and developments.  For instance, Ripple and EOS both hit their respective supports in the market to ensure that we see strong support in their charts.

Conclusion:

In conclusion, the Financial Centre’s broker said that if the cryptocurrency market keeps moving in this direction then it could be a good start.  New buyers could come in as a result of this development and as the market becomes more liquid, prices will bounce back accordingly.

The broker said that it was a promising start for cryptocurrencies and the market seems to be stabilizing. We will keep an eye on prices as they move forward. He also added that the cryptocurrency market is currently stable and bulls are back in the fray. He said that Bitcoin may see some more downside over the week but prices are expected to remain above, but overall signs are positive indicating further development of the market ahead. 

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