JP Morgan recently announced their developments of a prototype digital coin. The coin will be used to speed up payments between corporate customers. The exciting crypto news has seen Bitcoin move toward the $4000 mark for the first time this year.
Mati Greenspan, senior marketing analyst at Tel Aviv based eToro said, “What some people have pointed to is that because they’re using distributed ledger technology and they’re calling it a cryptocurrency, that could have a positive effect on the industry,”
Ether rose 17 percent Monday and was up 3.6 percent to around $146 as of 10:30 a.m. in New York. Bitcoin is now up by as much as 3.1 percent and was bubbling under $4000 at $3,970. Both Cryptocurrencies are showing positive growth, signaling a strong buy for many traders.
Many in the cryptocurrency market place feel that Bitcoin has more room to grow as it surges forward in a positive buy trend. The VERA Convergence Divergence indicator took a turn for the positive for the first time in over two months. The indication is that Bitcoin could possibly rally to over the $4,000 level which it has previously met with much resistance.
The last time Bitcoin triggered a buy signal it gained $1,100 over the next 10 days.
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