Bitcoin over $ 50,000, Cardano over $ 3 as cryptocurrencies rise By Investing.com – Investing.com UK

By Samuel Indyk

Investing.com – Major cryptocurrencies rose Thursday morning, trading above $ 50,000 and new cryptocurrency number three,, traded above $ 3.00 for the first time.

Weak ADP (NASDAQ 🙂 raises prices?

Wednesday was worse than expected, ADP reported that only 374,000 new jobs were created in August, up from expectations of 613,000. The disappointing number sets the tone for Friday’s official report.

The Fed has said time and time again that “significant further progress” is not yet to be made towards its labor market target, even though it is getting closer. A weak report on Friday could cause the Fed to pull back on its schedule to start reducing bond purchases later in the year. On the flip side, a strong report and the September Fed meeting could see the announcement the financial world has been waiting for.

If there is any indication of a delay in the Fed’s schedule after poor employment tomorrow, it could be seen as positive for Bitcoin and other major cryptocurrencies, given the prospect of longer monetary easing.

DeFi coins continue to outperform

Although Bitcoin has had a strong 24 hours behind it, profits in cryptocurrencies related to decentralized financial applications (DeFi) and non-fungible tokens (NFTs) continue to outperform.

is up over 6% in the past 24 hours and continues its recent rally as it looks to be regaining $ 4,000. Year on year, Ethereum has grown over 400% compared to Bitcoin’s 73% gain.

The increasing demand for NFTs has helped propel Ethereum higher. Companies from Visa (NYSE 🙂 to Anheuser Busch Inbev (BR 🙂 have announced forays into the NFT market in recent weeks and the euphoria over the emerging sector shows no signs of slowing.

And it’s not just Ethereum that benefits from the NFT craze. Two ‘Ethereum killers’ to come, and neither show any signs of the rally slowing down.

Both cryptocurrency projects have a similar goal and use case to Ethereum, such as DeFi apps and NFTs.

SEC comments

Yesterday, the Financial Times published comments from the chief of the US Securities and Exchange Commission, Gary Gensler, on regulation.

“At a global value of about $ 2 trillion [the cryptocurrency market] is at the level and nature that if it matters in five and ten years, it will be within a public policy framework, ”Gensler said in an interview. “History just tells you that it doesn’t take long outside. Finances are ultimately about trust. “

There is no doubt that the US cryptocurrency industry is regulated, but many have viewed these recent comments from Gensler as positive for the industry.

Regulation could help legitimize the asset class and would provide additional security and reassurance to investors currently cautious about investing in cryptocurrencies.

Where to go next for bitcoin

After trading above $ 50,000, the next resistance area is at $ 51,000, which marks the 61.8% Fibonacci line from the April high to the July low.

Jeffrey Haley, Senior Markets Analyst at OANDA, identifies the 200-day moving average (DMA) as an important level of support.

“What’s noteworthy is that Bitcoin’s dips for the past fortnight have all stopped just short of the 200-day moving average at $ 46,000,” Halley said.

“I remain optimistic about Bitcoin as long as the 200-DMA lasts on a daily closing basis.

“The technical picture suggests that an increase of up to $ 50,500 will create additional profits with a target of $ 58,000.”


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe Cardano

Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe

In order to do justice to the fast growing market for Cardano ($ ADA),...

By wpadminsonic164
ADA Crypto: 15 issues to know earlier than the Cardano Alonzo arduous fork – Investorplace.com Cardano

ADA Crypto: 15 issues to know earlier than the Cardano Alonzo arduous fork – Investorplace.com

Cardano (CCC:ADA-USD) is preparing for its Alonzo hard fork and there are a few...

By wpadminsonic164
The value of ADA Cardano has elevated by greater than 11% in 24 hours – Benzinga – Benzinga Cardano

The value of ADA Cardano has elevated by greater than 11% in 24 hours – Benzinga – Benzinga

Cardanos (CRYPTO: ADA) The price is up 11.2% in the past 24 hours to...

By wpadminsonic164
“Frothy” altcoins like Cardano, Solana are worrying JPMorgan, however is there any motive? Cardano

“Frothy” altcoins like Cardano, Solana are worrying JPMorgan, however is there any motive?

The oracle of Omaha Warren Buffet once said, “Be fearful when others are greedy...

By wpadminsonic164
Is it time to watch out with Cardano?  Analyst Michaël Van De Poppe examines what’s subsequent for the explosive altcoin – The Every day Hodl Cardano

Is it time to watch out with Cardano? Analyst Michaël Van De Poppe examines what’s subsequent for the explosive altcoin – The Every day Hodl

Crypto analyst Michaël van de Poppe looks at Cardano, which, according to CoinGecko, is...

By wpadminsonic164
Cardano

Inexperienced Monday: ETH at 3-month excessive, Cardano Eyes $ 3, BNB provides 7%, BTC over $ 50,000 (Market Watch) – CryptoPotato

Bitcoin's recent rally continued for the past 24 hours as the asset reclaimed $...

By wpadminsonic164
Bitcoin eyes $ 50,000, Avalanche enters the crypto high 20 and Cardano hits new ATH – Stockhead Cardano

Bitcoin eyes $ 50,000, Avalanche enters the crypto high 20 and Cardano hits new ATH – Stockhead

Bitcoin makes another run at $ 50,000 after encountering resistance at that level early...

By wpadminsonic164
SundaeSwap clears misunderstandings amid current CoinQuora Cardano controversy – Investing.com Cardano

SundaeSwap clears misunderstandings amid current CoinQuora Cardano controversy – Investing.com

SundaeSwap clears up misunderstandings amid the recent Cardano controversy The recent upgrade has sparked...

By wpadminsonic164

Latest Posts

Uncategorized

Noboni.com: Best Girl’s Online Shopping in bd

Noboni.com is the best Bd online shopping for girls. We 🏷️ offer the latest...

By wpadminsonic164
Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information Stellar

Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information

Major cryptocurrencies have shown mixed trading so far, with Bitcoin reversing its losses by...

By wpadminsonic164
BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!! Videos

BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!

BITCOIN CRASH (important upload)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!...

By wpadminsonic164
Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance Binance

Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance

The world's leading cryptocurrency exchange Binance seeks government funding despite being in the crosshairs...

By wpadminsonic164
Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe Cardano

Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe

In order to do justice to the fast growing market for Cardano ($ ADA),...

By wpadminsonic164
Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report Ethereum

Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report

Ethereum's EIP-1559 upgrade burned $ 400 million in ETH instead of handing it over...

By wpadminsonic164
Dogecoin

Why Bitcoin, Dogecoin, Ethereum – and in addition Coinbase – are on the transfer at this time – Motley Idiot

What happened Towards the end of the week, cryptocurrency prices in Friday morning trading...

By wpadminsonic164
The transition between fiat and bitcoin Bitcoin

The transition between fiat and bitcoin

One world, two systems: Why Bitcoin and Fiat have to learn to live togetherTwo...

By wpadminsonic164