Tags:
1 min read 

As if bitcoin was not satisfied with a new record it set on Monday, the world’s first cryptocurrency decided to breach another level, reaching an average of $3 525 across global exchanges today. Before the weekend, the bitcoin price has crossed the $3 000 mark only once. Market capitalization of BTC is at $56.8, the highest in history.

Using such technical analysis tools as RSI and Bollinger Bands it can be concluded that bitcoin is approaching the overbought levels and can depreciate in the near future, losing a substantial portion of its value*.

Bollinger Bands and RSI indicate that BTC is overbought

Bitcoin Cash was trading at around $300 on Tuesday, after reaching the historical minimum of $193. With market capitalization of $5,4 billion, it is currently the world’s fourth largest cryptocurrency. Coinbase, a United States-based exchange, has initially declined to list Bitcoin Cash but faced outrage among users.

“We are planning to have support for Bitcoin Cash by 1 January 2018, assuming no additional risks emerge during that time,” stated Coinbase official in the company’s blog.

Trade now