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24 January 2021

Hxro: Crypto Report – The Weekly No. 7 » CryptoNinjas

Hxro: Crypto Report – The Weekly No. 7 » CryptoNinjas

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SIM swapping has plagued the crypto space for years and with the recent surge in prices and renewed interest in crypto, it is prudent to take a closer look at this scam that has affected many prominent crypto personalities and investors.

Tension among traders ran high last week as the price of Bitcoin flirted with the psychological barrier of $10,000.

Luckily for bulls, it was a single transfer, but it again highlighted the fact that Satoshi, the (assumed) owner of over one million BTC, may have the capacity to flood the market at any time.

Last week, ETH/USD continued to be the latter, moving over 11% but respecting weekly support at $178 and resistance at $224.

The Bitcoin and Ethereum USD pairs mirrored one another last week when Bitcoin began its march down in price, and if Bitcoin were to see a continued downside, we expect this relationship with the USD pairs to hold in the short term.

The market will need to break the $224 resistance in order to trigger upside expansion to the $255 and $288 daily and weekly levels.

Weekly support will need to hold at $178 or there will be a risk of further downside to the next block of support at $164.

With so many companies providing the same services, the ones that have differentiated themselves have created brand awareness through social media and educational campaigns, such as Kyber Network.

Two weeks post-halving and the Bitcoin network hashrate has seen a steep decline from over 136TH/s to 87TH/s, down nearly 40%.

The numbers point to the need for an increase in the price of Bitcoin and improved cash flow for Canaan to weather this storm without a capital infusion.

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Crypto Market Analysis: 7th December 2020
published: 1 month ago
Markets enjoyed another buoyant week as newsflow around vaccines was positive, with the S&P finishing the week on 3,693. In the UK, the Medicines and

sentiment (0) Neutral

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