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Bitcoin continued to trade above $20,000 on Wednesday, as the token remained near a two-week high. Bullish momentum in cryptocurrency markets has been higher this week, with prices surging after a recent downward spell. Ethereum, on the other hand, was largely unchanged in today’s session. Bitcoin Bitcoin (BTC) was once again trading above $20,000, as the token continued to trade near a two-week high. BTC/USD surged to a peak of $20,479 late in Tuesday’s session, which was its highest point since September 13. On Wednesday, prices remained near this level, however slipped marginally after failing to extend a breakout of a key resistance point. The token slipped below this ceiling of $20,350 earlier today, and as of writing, is trading at $20,024.63, which remains higher than yesterday’s low of $19,917.91. As can be seen from the chart, the 14-day relative strength index (RSI) has also declined today, with the indicator now tracking at 52.45. This mark is marginally under a support level of 53.00, and should the reading continue to depreciate, we will likely see BTC back below $20,000. Ethereum Ethereum (ETH) was mostly consolidating on Wednesday, as the token fell back towards a support point of its own. Following a high of $1,364.97 during yesterday’s session, ETH/USD dropped to an intraday low of $1,335.89 earlier in the day. As a result of this slippage, the world’s second largest cryptocurrency moved back towards its floor of $1,330, a level which it broke out of less than 24 hours ago. Looking at the chart, the decline appears to have come once the RSI failed to move beyond yesterday’s resistance of 44.90. Currently price strength is tracking at 43.67, and seems to be heading for a floor close to the 42.00 level. Should it arrive at its destination, then there is a strong likelihood that ethereum will be under $1,300. Register your email here to get weekly price analysis updates sent to your inbox: Do you anticipate ethereum falling below $1,300 this week? Leave your thoughts in the comments below.
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Cryptocurrency’s hash rate measures a blockchain network’s processing power to process transactions.
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GMX went live on Binance earlier this morning. GMX Jumps Amid Binance Hype One of crypto winters outperformers is benefiting from the Binance listing effect. Per CoinGecko data, GMX has...
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Cryptocurrency exchange Binance has agreed to support Kazakhstan in ensuring the safe development of the country’s crypto market. The trading platform and Kazakhstan’s financial regulators intend to inform each other about cases involving the use of digital assets for illicit purposes. Binance Exchange to Help Kazakhstan Authorities Combat Crime Linked to Cryptocurrencies The world’s leading coin trading platform, Binance, and Kazakhstan’s Financial Monitoring Agency have recently signed a Memorandum of Understanding expressing their mutual interest in the safe development of the Central Asian nation’s virtual assets market. An announcement explained that the agreement will govern joint efforts to fight crimes involving digital assets. The crypto exchange and the regulatory body plan to share data that can be used to identify and block crypto holdings obtained by criminal means as well as those employed in the laundering of proceeds from crime and the financing of terrorism. According to Tigran Gambaryan, global head of intelligence and investigations at Binance, the company has the most robust compliance program in the industry, incorporating the principles of anti-money laundering and sanctions compliance as well as tools to detect suspicious accounts and fraudulent activity. During the meeting, Gambaryan and Chagri Poyraz, who heads Binance’s global sanctions department, presented reports devoted to investigations in the crypto space and suppression of illegal activities leading to sanctions evasion using cryptocurrencies. The signing was also attended by the Chairman of the Financial Monitoring Agency of the Republic of Kazakhstan Zhanat Elimanov, executives and employees of the regulatory body, and other representatives of the Binance ecosystem, the exchange noted in a press release. The memorandum is part of Binance’s global training program for representatives of regulatory and law enforcement agencies. Its main purpose is to develop cooperation with local and international authorities in the fight against cyber and financial crimes. The initiative has already been implemented in France, Germany, Italy, the U.K., Norway, Canada, Brazil, Paraguay, and Israel. The agreement follows the signing of another Memorandum of Understanding with Kazakhstan’s Ministry of Digital Development and Innovation in May, under which Binance will advise the government in Nur-Sultan on crypto regulations. In August, the exchange was granted preliminary approval to provide trading and custody services for digital assets in Kazakhstan, a major crypto mining hub. Do you expect Kazakhstan to seek assistance from other global crypto companies as it tries to regulate its digital asset economy? Tell us in the comments section below.
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