Total Crypto Market Capitalization
The performance of digital assets has risen amid global economic issues along with the forced shutdown of hedge funds. However, crypto market continues to rise with strong positive factors.
Visa announced a partnership with cryptocurrency exchange platform and card issuer Crypto.com to offer cryptocurrency payment system for transactions. This program allows Crypto.com to send USDC to Visa’s Ethereum address to settle transactions.
Vachira Arromdee, Assistant Governor of the Financial Market Operations Group, Bank of Thailand (BOT) has announced the guidelines for the development of cryptocurrency, issued by central bank for public use (Retail Central Bank Digital Currency: Retail CBDC). This may cause a shift in many different sectors. BOT welcomes feedback from the citizens, government agencies and private sectors until June 15, 2021.
- Nanyang, a well-known shoe brand announced on Facebook page that they are accepting 3 cryptocurrencies such as BTC, ETH, and DOGE as a form of payment (March 29, 2021).
- Arrom Pohundratanakul, also known as cuttO. The singer posted on his own Facebook page that he is accepting payment as BTC, BNB, USDT, and BUSD (April 2, 2021).
- @HasunDriedSeafood posted on Facebook page to accept payment in Bitcoin and had informed customers that they will soon accept BNB ETH and BCH in the future (April 2, 2021).
- Nontaporn Teerawatanasuk, the famous social influencer posted on her personal instagram that she is accepting payment in the form of crypto. Additionally customers get 10% discount for payment in BTC, ETH, BNB, ADA, CRO, and CAKE!
Takashi Murakami, a famous Japanese artist who created the “Murami’s Flower” has launched his own NFT event on OpenSea platform. He released a set of 24-by-24 pixel works based on his signature artwork known as the Murakami flowers.
Technical Signal Trading
BTC has risen and teased its all-time high. The formation of the price reflects the decrease in daily volatility which results in an attractive risk reward ratio. This causes the BTC price movement to show multiple triangles as shown in the graph on the left.
ETH price formation is yet to be formed as it broke through the zone. This results in a slower selling rate. We should wait until the price stabilizes before we can decide whether or not is this a good investment.
XRP now stands above the zone. This means it is likely for the uptrend to return. As the price forms, we start to see a new support and resistance zones. However, due to the unresolved legal issues, investors should be cautious to avoid any investment loss.
LTC shows a different formation due to shifts in fundamental factors. The significant increase in DeFi prices impose a positive impact towards ETH prices.
LTC’s price formation continues to form. Investors should pay close attention to the price movement.
GOLD has shown divergence in the short-term support line. Thus, we adjusted the resistance zone for investors to come up with investment strategies for gold.
Investors should pay attention to monetary injection such as quantitative easing schemes by the central bank of the United States (Federal Reserve System) as this may bring about inflation concerns.
Strategy from ZIPMEX
However, Zipmex will not take any responsibilities for the above analyses. Investors must realize that every investment is at risk.
Please use your own judgement when investing.