Well, That was Awkward
It’s been another exciting day in the world of cryptocurrency, with Bitcoin and Ethereum continuing to generate headlines – this time with Ethereum prices skyrocketing while Bitcoin just barely made a move. But the real story of the day was the announcement of Genesis Mining’s bankruptcy, which caused many to wonder what the impact would be on both crypto currencies.
No Need to Panic
But it turns out, despite all the drama and speculation, Bitcoin and Ethereum were not rattled by the news. In fact, Bitcoin is back above the $21,000 mark, with Ethereum following right behind. So, if you’ve been feeling apprehensive about the state of digital currency lately, fear not.
Bitcoin and Ethereum Technical Analysis
Let’s take a look at what the technical indicators are saying about the two big cryptocurrencies.
Bitcoin
- RSI: Bullish above 50
- MACD: Bullish
- Volume: Increasing
Ethereum
- RSI: Bullish above 50
- MACD: Bullish
- Volume: Increasing
It looks like both Bitcoin and Ethereum are in good shape, despite the Genesis news. That’s good news for crypto enthusiasts, who can now breathe a sigh of relief.
Time to Buy the Dip?
With Bitcoin crossing the $21K mark and Ethereum shooting up, now could be a great time to pick up some coins on the dip. After all, prices are unlikely to stay this low for very long, so it could be a great opportunity to take advantage of the market conditions.
So Don’t Sweat the Genesis Bankruptcy
The bottom line is, don’t sweat the recent Genesis news too much. As it turns out, Bitcoin and Ethereum are still doing great and their technical indicators are all promising. So, if you’re in the market for a little crypto trading, now could be the perfect time to buy in.
