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Bitcoin and Cryptocurrency are experiencing a corrective wave

2019-04-24 11:01 am | Resource: News | No Views : 34

Bitcoin and Cryptocurrency are experiencing a corrective wave Cryptocurrency and Bitcoin fell in Wednesday's trading session as the most widely circulated currency broke the resistance barrier at $ 5250.

On Wednesday, April 24, the major underlying assets witnessed a slight decline, trading at $ 5052, and a drop of just over 1% over the last 24 hours.

The market capitalization of Bitcoin was $ 97.23315 billion or 54.70% of the total market capitalization of Cryptocurrency, while the total market capitalization of Ethereum was $ 17.51653 billion, or 9.86% of the total value of the Cryptocurrency market.

Yesterday, we saw a strong rise in the price of Bitcoin above the resistance level of $ 5400 and $ 5500 against the US dollar.

The current price movement is positive and the price may rise above $ 5650. The next stop for the bulls could be $ 5700 or $ 5,720. On the downside, initial support is near $ 5520.

The top ten of the Cryptocurrency are also trading in red as well
 
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  • Bitcoin was last at $ 5488.1 down 1.40% a day.
  • Ethereum was trading at $ 165.24, losing 6.35%.
  • Bitcoin cash recorded levels of $ 271.33, down 9.93%
  • The XRP currency fell 7.74% to trade at $ 0.2980.
  • Litecoin was trading red at 9.04% to trade at $ 71.71.
 
Launch of Bitcoin Structured Mining Fund.

The Swiss investment firm Final Frontier and Bitfury Global Technologies, the $ 1 billion Bitfury Group, are under the supervision of the Financial Supervisory Authority of Liechtenstein, according to a report.

However, both companies did not disclose the size of the fund, developed by Final Frontier for institutional investors and professionals to reach the mystical world of Bitcoin extraction.

Bitcoin Mining requires a ledger update for Bitcoin transactions known as blockchain. Miners run very powerful computers in a race against other miners to guess a certain number. The first miner gets the transaction book update and receives a bonus of 12.5 newly minted Bitcoin coins.

The two companies said the fund would invest in ready-made assets made up of mining sites with some of the world's lowest electricity and operating costs with Bitfury data centers.

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