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During the past days, NASDAQ announced it will introduce the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) commencing on the 25th of February.

This will offer traders the opportunity to trade a real-time spot or reference rate for the price of 1 Bitcoin and 1 Ethereum respectively, quoted in USD.

In more detail, the news said the price of the instruments will be updated every thirty seconds.

The BLX and ELX are among the most popular crypto indices while crypto traders are expected to show interest and could even boost volatility for the digital coins.

This is not the start for crypto trading as many companies have adopted CFDs for traders to work with, but the overall message that is sent is that coins continue to be recognized and boosted by huge institutions as in this case with Nasdaq, one of the most important stock exchanges worldwide.

New Products using Cryptocurrency

Innovative crypto gadgets were introduced in the previous days.

A new payment card was launched by Status, which brought out a cryptocurrency hardware wallet called Keycard.

Keycard could be used with many cryptocurrencies including Bitcoin, Bitcoin cash, Litecoin, XRP, Ether and Ethereum.

The keycard cannot be used by itself as it needs to be tapped to a mobile crypto wallet for a transaction to be signed.

The main reason for a keycard to be used could be the security it provides and the fact that it is just like a visa card in our wallets which is convenient to carry around.

Status made it even more interesting by giving the consumer the option to form a keycard that will cover their own needs.

The card could be used for other technologies and applications so users can adjust it to their own environment and preference.

New Investments in the crypto industry have also been noticeable, with US pension funds making an investment of approximately 40M USD worth of cryptocurrencies.

Called Morgan Creek Blockchain Opportunities Fund, the firm is said to be investing in the crypto industry.

Many market participants found the news surprising, as pension funds do not usually aim for volatile and risky assets with low regulation barriers such as cryptos.

However, from the name of the firm we understand they could be aiming for Blockchain technology investments, which at the moment are very popular and considered reliable being used by many companies.

This creates opportunity for investors who understand that the industry is still growing.

Generalized Mining of Cryptocurrency

Furthermore, a group of crypto Investors around the world, has been in favor of enacting a generalized mining.

This idea was brought forward previously and urges investors to join forces with other businesses to contribute resources for running different services.

This is basically an attempt to re-energize your investments by actively engaging with other businesses.

Activities like transaction processing, software or Merkle Mining an algorithmic process of generating initial tokens, are some of the processes that in our opinion stand out.

First of all, the processes that are shared, can have the effect of reducing costs, as mining is considered among the most expensive ways to bring forward coins.

Second by interacting with each other they boost publicity for one another and help improve various operations learning from each other’s services.

As their business environment is similar, they can help each other out in many ways and create good relationships which produce good outcomes.

As per our conclusion, during the past Friday, February 8, Bitcoin and many other digital coins made a much appreciated upward recovery, increasing in value.

Analysts, gave the upward movement due to Litecoin’s massive 30% recovery in a single day.

Litcoin is very similar to Bitcoin with the difference that it aims to process a block every 2.5 minutes, instead of Bitcoin’s 10 minutes.

Analysts cited the major reason behind Litecoin’s price jump, was the announcement of the cooperation between the Litecoin Foundation and Beam, a firm known for its aim towards improving privacy in the cryptocurrency sector.

Technical Outlook on BTCUSD

With the upward momentum Bitcoin gained last Friday, it broke consecutively all of our current resistance levels.

In the following days due to profit taking Bitcoin landed lower trading just between our 3570.91 (R1) resistance level and the 3517.32 (S1) support level.

In a bullish run the coin could climb higher breaking the 3570.91 (R1) resistance level, and aiming for the 3603.95 (R2) and even higher for the 3637.00 (R3) resistance barrier.

In the opposite direction, a selling momentum could send the coin below the 3517.32 (S1) support level, with the 3451.30 (S2) support barrier and the 3365.70 (S3) being even lower.

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