Cryptocurrency-Trading: Bitcoin showing its strength
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Cryptocurrency-Trading: Bitcoin showing its strength

By Federico Izzi - 20 Jul 2018

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Cryptocurrency-Trading: In the last hours, all the major Altcoins continue to benefit.

Cryptocurrency-Trading:The red mark prevails among the top 20 with the highest capitalization.

Apart from OmiseGo (OMG) that stumbles more than 9% from yesterday morning highs, the decreases are between 1% of Litecoin (LTC), Cardano (ADA) and Eos (EOS) and 5% of Iota (MIOTA), Neo (NEO) and NEM (XEM).

In these hours Bitcoin is showing its strength and manages to defend the recent rises above 7300 dollars.

This enables it to regain 45% of the market share, which has not been the case since the beginning of April.

At that time prices were at their current levels, before the second strongest rally of the year began, which at the beginning of May saw bitcoin approach $10,000 (over +50% from lows in the $6400 area).

Recent endorsements by some financial institutions in favour of blockchain technology and cryptocurrencies are favouring the market.

For example, the banking giant HSBC, with an interview with Forbes of digital communication manager Josh Bottomley, said that the institution is carefully examining the possible use of cryptocurrencies.

What’s more, the registration of a new Mastercard patent to allow customers to use cryptocurrencies and reduce transaction times. Times that currently do not allow immediate transactions, as is the case with traditional credit/debit card payments.

cryptocurrency-trading
Search: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

Unlike most other Altcoins, Bitcoin prices continue to remain well above $7000, showing a very good hold and the desire to form a basis from which to start a new upward momentum. The current short-medium term structure, decidedly on the upside, will continue to remain so with prices above 6800 dollars even in the coming days.

cryptocurrency-trading
Search: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

The failure to exceed 500 dollars continues to be Ethereum’s Achilles heel in this particular phase in which the second cryptocurrency does not benefit from the generalized reflections of the other major coin. Despite these medium-term technical difficulties, prices will continue to rise with prices above $450.

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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