At the third attempt, the BTC finally did rise above the intermediate resistance level of 17,200 USD and secured above it. On Wednesday, the leading cryptocurrency is fluctuating near 17,798 USD.
This is very good news. Securing above the resistance level the BTC opened for itself a pathway to an important resistance level of 18,500 USD. And now it is closer to the goal than at any moment of the past few weeks.
It is critical that the growth should happen before investors actually see risks increase at crypto exchanges. Under this, we mean the imprisonment of the head of FXT — an exchange that crashed this autumn. Any accusations to the founder of the company may provoke a massive outflow of capital and falling of the main cryptocurrencies.
The situation might only affect the Binance US exchange, and this will be, indeed, a small price.
The desire for risks in capital markets (fiat and crypto equally) remains high. This might support BTC purchases.
Capitalisation of the crypto market on Wednesday is 871.462 billion USD. The BTC takes up 39.4%, the ETH — 18.6%.
Money being withdrawn from Binance
Binance users withdrawn 1.14 billion USD from the exchange overnight. This is a large cash volume, though the company’s representatives called the situation routine.
Alibaba and Taobao will allow for paying in digital yuan
A tech giant Alibaba will let its clients pay in digital money at the Taobao platform. The same feature will be added to the Alipay electronic payment service.
Source: Roboforex
