Bitcoin, Terra (Luna) Talk:
- Bitcoin bulls respond, the $ 30,000 psychological level remains key
- Terra and Coinbase collapse, can the digital realm recover?
- USD gains an advantage as a safe haven asset (at least for now)
Bitcoin ‘Buffer’ Investigated – Crypto Suffering Continues
Bitcoin, Ether and other major cryptocurrencies currently remain in the headlines after a turbulent week of sawmill price action.
As various fundamental and geopolitical factors continue to influence risk sentiment, digital assets (which have performed very well since the start of the Covid-19 pandemic) have recently struggled to maintain optimism that rational previously allowing the market capitalization of the industry to rise temporarily above the $ 3 Trillion level before retreating back below the $ 2 Trillion level.
While the gloomy release of Coinbase earnings and the recent fall of the stable Terra coin (USDT) contributed to the decline in demand for digital assets, the price of Bitcoin has managed to rebound temporarily from the key psychological level of $ 30,000 that currently remains both. critical support and resistance for the impending move.
As the volatile geopolitical background continues to affect digital assets, BTC/USD is likely to continue to help in catalyzing price action, at least for now.
For the coming week, the release of major economic data and major news events may continue to contribute to digital asset price movements that have the potential to either raise or lower digital asset prices.
— Written by Tammy Da Costa, Analyst for DailyFX.com
Contact and follow Tammy on Twitter: @Tams707