Bitcoin Pulled Down the Market, and the Neglected BSV Rebounded Against the Trend

 2021-03-19 10:26:42

BTC's sideways adjustment continued--the price rushed higher on the evening of March 18, reaching a high of $60,128, but it began to fall back on the morning of the 19th. Most mainstream cryptocurrencies have retraced with the decline of BTC, and there are fewer short-term strong currencies.


In terms of news, Morgan Stanley said this week that it will open the authority of three Bitcoin funds to buy Bitcoin, and customers may invest as early as next month. Morgan Stanley believes that Bitcoin is suitable for investors with at least $2 million in assets and strong risk tolerance, and limits Bitcoin investment to 2.5% of the client's total net asset value. Although Morgan Stanley is targeting the wealthy Americans to invest in Bitcoin, it mainly diverts users' funds to the Bitcoin market, which is also a tangible positive for the crypto sphere.


In terms of activity, investors' enthusiasm for trading increased during the short-term BTC fluctuations, which was related to price changes. In terms of price, BTC once again fell below the $60,000 mark, the number of active addresses rose to 1.19 million, and the number of new addresses increased to 600,000, which was the best performance since the end of February. This shows that even in the high sideways phase, BTC may confirm a breakthrough in the near future. 


In terms of mainstream cryptocurrencies, there are fewer transaction currencies, most of the hot currencies have fallen back, and have not rebounded to a new high. BSV strengthened in the short-term, from the short-term 10-day moving average to the long-term 120-day moving average, there were signs of divergence after bonding, indicating a supplementary signal for popular mainstream currencies.


DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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