Bitcoin
A key technical indicator suggests the price of Bitcoin has more room on the upside.
The VERA Convergence Divergence indicator “turned positive today for the first time in over two months, indicating this rally may take Bitcoin over the heavily resisted $4,000 level. The last time Bitcoin triggered a buy signal it gained $1,100 over the next 10 days,” reports Bloomberg.
The GTI VERA Convergence Divergence is designed to identify market reversals and exhaustion. It utilizes typical Moving Average Convergence Divergence (MACD) and looks to remove excess noise, using a proprietary theory called Volatility Explosion Relatively Adjusted (VERA).
Senior eToro market analyst Mati Greenspan says the recent crypto rally may be linked to JP Morgan’s new digital asset JP Morgan Coin.
“What some people have pointed to is that because they’re using distributed ledger technology, and they’re calling it a cryptocurrency, that could have a positive effect on the industry.”
XRP
Retail forex broker TradersWay says it just added XRP to its trading platform.
TradersWay offers traders a place to buy and sell foreign currencies, a market currently valued at more than $5 trillion.
The company is following a trend of traditional forex brokers jumping into crypto. The world’s second largest forex broker, FOREX.com, also offers XRP and Bitcoin trading. SimpleFX and NordFX have also entered the crypto market.
Tron
The Tron community is warning people to stay away from a website, ending in “.com”, designed to look like the real Tronscan.org.
The discovery is another reminder that crypto investors, traders and enthusiasts should always double check site addresses before engaging with any crypto-related websites.