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Cryptocurrency News for Today July 17th – BeInCrypto

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Cryptocurrency News for Today July 17th - BeInCrypto

Cryptocurrency News for Today July 17th – BeInCrypto
CONTENT

  • Bitcoin dominance index declines

  • Institutional Investors Are Not Capable of Bumping the Market Up

  • Chainlink cryptocurrency storms heights, but for how long

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Bitcoin is in big trouble, and it’s not just about failing to get out of range. The dominance index of the first cryptocurrency is slowly but surely declining, because some altcoins have been much more successful lately. For example, LINK is up more than 40% in a week, and traders want to know how long the rise will continue and when to stop. Institutional investors have significantly increased the volume of cryptocurrency trading in 2020, but this again did not affect prices too much.

Cryptocurrency News for Today July 17th - BeInCrypto

Institutionals Significantly Increase Cryptocurrency Trading Volumes in 2020

Trading volume on the institutional cryptocurrency exchange LMAX Digital reached a record $ 36 billion in the first half of 2020. The volatility of crypto assets driven by the coronavirus pandemic has boosted the profits of the institutional-oriented crypto exchange LMAX Digital. This is reported by Financial News, citing LMAX Group CEO David Mercer. More details

New problems are brewing for bitcoin

The decline in Bitcoin this week may be just the beginning of problems for investors in the main digital currency. On Thursday, bitcoin fell by almost 2%, reaching a low of $ 9,037. Sellers stopped just a few points from the psychological support of $ 9,000. Many market observers associate the recent collapse with a massive phishing attack on Twitter. Most of the hacked accounts advertised the distribution of 5,000 bitcoins through a malicious site. The accounts of many important figures, including former US President Barack Obama, were under attack. More details

How long will LINK cryptocurrency grow?

LINK has been rising since March 13, when the price bottomed out. After Each Token Rollback As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More resumes growth with renewed vigor and is now experiencing a third such cycle, each time forming an increasingly steep upward support line. The RSI has been giving bearish divergence signals since early July, on almost all timeframes up to the 12-hour one. Numerous long upper wicks on the charts signal bearish pressure. More details

BTC dominance level approached important support

BTCD has been falling since September last year, moving along the line of downtrend resistance, the significance of which is given by the presence of the 200-week moving average. As of this writing, the dominance level is testing the 100-week MA, which has served as an excellent trend indicator over the past two years. Movement is considered bullish when BTCD is above this moving average and vice versa. More details

Cryptocurrency News for Today July 17th - BeInCrypto

Bitcoin bears showed bulls who’s boss

Yesterday, the bitcoin (BTC) rate continued its decline, which began on July 8, and again closed the day trading under the support area of ​​$ 9250 and the 50-day moving average (MA). The pair had already closed below this support earlier, but the MA remained unbreakable. Now this MA may become a resistance for the bulls. However, several long lower wicks can be seen on the chart, as well as a likely upward support line built from April 30th (now at $ 8950). This line can determine the price bounce. More details

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