There’s a lot going on with the cryptocurrencies. Now the big funds must be jumping up too. Until recently, billionaire George Soros was sceptical about cryptocurrencies, and now he wants to get involved himself. After the fall in crypto prices since January, prices seem to be becoming interesting again for investors. After all, Bitcoin, for example, recently stood at just under $20,000, and now only at $7,100. Yes, the current price could slowly become interesting for long-term investors.
There is still potential to go down, but with smaller positions one could slowly stock up again. Cryptocurrencies are not only becoming more and more popular with investors, but companies like Intel are working on a solution that makes mining cheaper. Or in the real estate market – now you can also buy real estate against crypto currencies.
The $6500 mark seems to be a good support for Bitcoin for the time being. At the moment he is quite stable and shows little ambition to slide down. However, we are of the opinion that this is not the end of the story. Even if the price slowly becomes interesting again to get on. Currently we see Bitcoin moving sideways with a range between $6500 and $7500. It’s quite possible he’s trying to attack the resistance at $7,720.
One of the great winners in crypto heaven is still Ethereum. It also performed very well above his support of 356 dollars, and is currently running up again. Here, too, we see a sideways movement rather than a turnaround – even if this support is very stable. If you break down, you can quickly see the $270.
Currently, Ripple is also on the upswing and is at 0.51 dollars. However, we see the price target rather lower at 0.33 dollars. The downward trend is still fully intact, even if Ripple is taking a break.