The latest price action of the most dominant cryptocurrency out there, Bitcoin (BTC), shows that the market is stable – but not ready for a bullish run. This is what motivated many traders and analysts to share their thoughts about the recent situation – making the latest digital currency news on our crypto news site.
The most popular analysis which went viral was made by YouTube’s biggest crypto analyst Nicholas Merten, who believes that Bitcoin is bottoming. In the latest edition of his show DataDash, he compared the current price of Bitcoin and the current market action to the decline in 2014 and the sideways trading situation in 2015.
As he said, there are three indicators that suggest Bitcoin is entering a period of sideways consolidation before a new run to the upside. According to Merten, the 50 and 100-week moving averages, the stochastic RSI and true strength indicators are all signaling that Bitcoin is starting to enter a bottoming phase.
“We’re going to need to see much more substantial price action for Bitcoin to be considered in a bull market. So we’re in neither really a bear market as of the last few weeks, and we’re also not in a bull market. Again, we have to see a justification of price on either side,” he said.
The video can be seen below.
According to his analysis, the current market conditions indicate that it will take a few weeks or months for Bitcoin to regain its momentum. Ripple and XRP, on the other hand, are also pushing to expand their presence in new territories.
When it comes to the latest news around Litecoin, we have Jon Moore known as ‘Johnny Litecoin’ who recently showed the new integration of Litecoin with the payment system Clover.
Checkout the Clover Flex device!! #Clover devices can easily display a #Litecoin Payment button with QR code printing on receipt for easy payment. Clover also integrates with @ecwid which allows for LTC/BTC Payments to come in from online and the data connects to Clover!! pic.twitter.com/WNVRG3BYKP
— Jon Moore BTC/LTC 🔑 (@jonnylitecoin) March 20, 2019
As you probably know, the Clover platform offers free open-source code that allows merchants to implement custom third party payment options.
When it comes to Stellar (XLM) and Tron (TRX) as the other altcoin gainers, XLM has recently powered IBM’s World Wire remittance platform – while Tron (TRX) and its community have recently expanded to Beijing and are constantly in the latest cryptocurrency news for their blockchain advancements.
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