Tron Price Analysis: TRX Drop 5.2% as Binance plan for Fiat Purchases
Tron price is down 5.2 percent a few days after BTT launch
Like CoinBase, Binance will soon allow Visa and MasterCard purchases
Participation level shrink by more than half from 25 million to less than 15 million
Coinbase Premium Showing Fiat Inflow Into Ethereum May Spark Massive Rally
Wednesday February 12, 2020
In recent weeks, the one factor that prevented analysts from considering a new bull run was starting across cryptocurrency assets like Bitcoin and Ethereum, was a lack of new money entering the market. However,...
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After days of impressive performance, TRX is now slowing down. It is down 5.2 percent at the time of writing. Even so, bulls have a chance as long as prices oscillate above 2.5 cents.
Tron Price Analysis
Binance, the largest cryptocurrency exchange by trading volume, will in days ahead allow crypto traders and other investors to buy a wide range of digital assets using their Visa and MasterCards. The two US-based multinational financial service providers are the world’s leading payment gateways serving millions of people from all over the world. If anything, this is very positive for digital assets.
It is a U-turn after events of late 2017 and 2018 when regulators and banks blocked users from buying “volatile” crypto using their cards. Ultimately, this new corridor will no doubt draw extra demand for cryptocurrencies. As a crypto-to-crypto exchange, the move comes as a surprise and would in coming days attract buyers driving asset prices higher.
While making the announcement, Changpeng Zhao said:
“We want to provide Binance traders with fast and easy access to crypto, in the most secure way possible. With most of the world’s money still resting in fiat, building fiat gateways is what we need now to grow the ecosystem and create more long-term opportunities for crypto.”
Bitcoin Highly Bullish Despite Selloff; Here’s What Could Propel it to $11,000
Sunday February 16, 2020
Bitcoin corrected lower sharply from the $10,500 resistance against the US Dollar. However, BTC is still above the key $9,800 support and it could soon rally again. After trading to a new 2020 high,...
The post Bitcoin Highly Bullish Despite Selloff; Here’s What Could Propel it to $11,000 appeared first on 12bitplay - Bitcoin Play.
Like it has been the case after every significant announcement, TRX prices are free-falling. At the time of writing, the coin is down 5.2 percent. However, prices are still oscillating within Jan 28 high-lows. This means there are high chances prices will drop towards our main support line at 2.5 cents.
Even if they do, our TRX/USD trade plan will be unaffected because the only time bulls will be in charge is when prices rally above 3 cents. That is Jan 27 highs which marks the tops of the inverted hammer sparking sell-offs of Jan 28. Moving on, we recommend patience knowing that bulls have a chance above 2.5 cents. Technically, every low should be a buying opportunity for risk-off traders.
Volumes are dropping, and although we are net bullish, we need prices to rally above 3 cents. That will completely reverse losses of Jan 28. These higher highs should be at the back of high trading volumes exceeding today’s averages of 15 million. Most importantly, they should be above 31 million of Jan 28.
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Historic Bitcoin Cycle Suggests No New All-Time High Until 2021
Thursday February 13, 2020
Markets are cyclical, and history often repeats. And if the bear to bull cycle from 2014 through 2017 is any indication, Bitcoin could have as much as another full year before the cryptocurrency revisits...
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