Review today’s updates on Bitcoin, Ethereum, and Ripple.
Bitcoin rose to around 19,600 US dollars today. but then it decreased in price as getting as low as 19050 US dollars, dipping as low as 2.5% in just 3 hours. The cryptocurrency has been riding on initially since the 12th of December which saw a priCe decrease to as low as 17600 US dollars.
There was a lot of short selling going on, indicated by the negative funding rate, signifying that there are more short sellers than buyers.
As the price rose to 19,500 US dollars and above, whales quickly chased in their bit coon to make a profit, resulting in a dip again to 19,100 US dollars. The price is expected to remain at 18,800 gearing toward an all-time high.
Ethereum's prices are expected to soar once it passes the $595 and $600 resistance levels. It traded below the $580 support level but enjoyed bullish support at the $575 level.
It has currently spiked above the $590 level and is riding a new high for the month as the price is almost at $596 and is currently consolidating gains. There is resistance at the $595 level, meaning that the price could definitely go higher. If it fails to pass this level, it could fall to the support zone at $585.
Nifty gateway, a Non-fungible token marketplace sold a single NFT artwork at an auction. The painting which sold for $777,777 was put in by a last-second bid by investor Tim Kang.
This auction surpassed the previous record of the most valuable artwork auctioned on Nifty Gateway by 1,300%. former-pro baseball player, and current token artist, Micah Johnson, created an interactive NFT which is being exhibited on an electronic billboard in Los Angeles this month.
It is believed that NFTs are beginning to go more mainstream now.
In conclusion, Bitcoin is doing well and paving the way for more digital currencies to gain recognition and value.
Do you think that Niffty Gateway’s success with NFT is an indication of its investment potential?
