Cryptocurrency: The New Gold Rush
July 13, 2021Germany’s New Crypto Law to Benefit Investors!
July 13, 2021
On July 7, Visa said that cryptocurrency users spent more than $1 billion on different goods and services through their crypto-linked cards in the first half of the year. That is a signal that the integration of cryptocurrencies in global trade is on the way.Because cryptocurrencies are becoming an integral part of the global financial system, Bank of America has created a new research team dedicated to blockchain and digital assets, Bloomberg reports. The main goal of the newly created bank team is to take advantage of one of the fastest-growing emerging technology ecosystems and capitalize on it.On July 9, Tesla CEO and well-known Dogecoin bull, Elon Musk criticized Bitcoin and Ethereum once again. This time Musk claimed that both cryptocurrencies are slow and with high transaction fees:Source: TwitterInterestingly, this time the prices of Bitcoin and Ethereum did not react to Musk’s tweet. They remained unaffected — an indicator that the ‘Musk Effect’ is starting to fade away and the self-proclaimed ‘Dogefather’ is losing his influence over the market.And although some famous billionaires like Musk have recently become skeptical about Bitcoin, others are becoming more optimistic. Apple co-founder Steve Wozniak shared his admiration for BTC by calling the cryptocurrency “the most amazing mathematical miracle”:Source: TwitterAfter another week in which the cryptocurrencies were trading in a very tight range, the Monday market starts on a positive footing. According to Coin360.com, one Bitcoin costs €28,960.38 (+2.77%), one Ethereum — €1,818.08 (+3.15%), one DOGE — €0.1826 (+2.62%), and one UNI — €17.87 (+5.48%):Source: Coin360.com (Daily crypto market performance)Now let us analyze the price charts of the leading cryptocurrencies against the euro in the most noteworthy time frames.BTC/EURIn the daily chart (1W), the price of Bitcoin keeps on moving sideways within the consolidation range:The 360-day Moving Average (MA 360) is already very close to…
