Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, TRON, Binance Coin, Bitcoin SV: Price Analysis, February 27
While the crypto space has been in a ruthless bear market, banks and exchanges have started launching crypto services.
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Market data is provided by the HitBTC exchange.
Binance CEO Changpeng Zhao said that investors lapped up the Fetch.AI (FET) token on Feb. 25 in a record time of 22 seconds. This is a bullish sign. It shows that the investor appetite for initial coin offerings (ICOs) is returning.
Though the crypto space has been in a crushing bear market for more than a year, it has not stopped leading banks and stock market exchanges from launching new crypto services. Swiss bank Julius Baer, having about $381.6 billion in assets under management, plans to launch crypto asset services for its clients.
In a survey by KPMG, 48 percent of C-level executives believe that blockchain will change the way they do business in the next three years and 41 percent of participants said they are likely to use the technology. A number of such surveys have shown a growing interest in the blockchain technology by various industries.
However, these changes have still not been able to gain a stamp of approval from legendary investor Warren Buffet. In a recent interview with CNBC, he said that Bitcoin was “a delusion, basically.”
Bitcoin (BTC) has been struggling to rebound from the 20-day EMA for the past two days. This shows nervousness among buyers. A failure to move up will attract liquidation of long positions by the bulls and initiation of short positions by the bears. A breakdown below the downtrend line and the 50-day SMA can result in a drop to the critical support zone of $3,355– $3,236.09. If the digital currency drops to a new yearly low, the downtrend will resume. Therefore, traders can keep the stops on their