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Gate.io Weekly Newsletter: Crypto Market On the Rise, $600 Million Hack on Poly Network Leads to Concerns About Security of DeFi (08/07~08/13)
Gate.io Weekly Newsletter: Crypto Market On the Rise, $600 Million Hack on Poly Network Leads to Concerns About Security of DeFi (08/07~08/13)
2021-08-16 10:14:42 UTC
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Welcome to the Gate.io Weekly Newsletter. Get exclusive insights on market trends, in-depth topics, and the latest financial & crypto news.
Cryptocurrency Market
Within a week, the crypto market as a whole entered a sideways consolidation stage. The price of Bitcoin has clearly slowed down after the 8th, and the price stabilized at about $45,000. Within a week, the price of Bitcoin formed a "V" shaped bottom with a bottom price of $373,31.67. It formed a seven-day moving average on the 12th and rebounded after the 13th. Stimulus, Bitcoin price will bounce back and forth on the daily moving average line many times. The bottom-line price is estimated to be around $42,000. If it goes under the price, the price of Bitcoin may enter the market's volatility shortly. From other technical points of view, the Bitcoin price's Bollinger has a shrinking trend. There is no price indicator breaking the Bollinger Band line within this week. Starting from July 21st, however, the Bitcoin price has not fallen below the Bollinger Band midline. The market seems to stay bearish.
The price of Ethereum is changing in a more extreme way than that of Bitcoin. This week, the price of Ethereum entered a more obvious stagnation period. From the 7th, the price of Ethereum fluctuated below $3150, and several attempts to stabilize above $3150 ended in failure. Like Bitcoin, after the lowest price of Ethereum on the 12th broke through the 7-day moving average, it rebounded on the 13th. $3100 is the current demarcation point of the price change. If Ethereum oscillates below the $3100 in the short term, it means that the price of Ethereum has insufficient momentum. From the MACD index, the price of Ethereum showed a weak short-selling signal on the 13th, but from the perspective of momentum, the price of Ethereum is still dominated by upward momentum. Given the continued relief plan of the U.S. government, the cryptocurrency market may continue to benefit from it.
click here to read：Gate.io Weekly Newsletter: Crypto Market On the Rise, $600 Million Hack on Poly Network Leads to Concerns About Security of DeFi
Gate.io Blog
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We invite you to experience and bookmark this blog, in order to get essential investors tips.
Website: https://www.gate.io/en/blog/bloglist
*App will be launched soon, please keep an eye out for it!
Blog entry: “About-Gate Blog” at the bottom of Gate.io homepage.
Gate.io Blog will be updated at regular intervals. Stay tuned!
Cryptocurrency Market
Within a week, the crypto market as a whole entered a sideways consolidation stage. The price of Bitcoin has clearly slowed down after the 8th, and the price stabilized at about $45,000. Within a week, the price of Bitcoin formed a "V" shaped bottom with a bottom price of $373,31.67. It formed a seven-day moving average on the 12th and rebounded after the 13th. Stimulus, Bitcoin price will bounce back and forth on the daily moving average line many times. The bottom-line price is estimated to be around $42,000. If it goes under the price, the price of Bitcoin may enter the market's volatility shortly. From other technical points of view, the Bitcoin price's Bollinger has a shrinking trend. There is no price indicator breaking the Bollinger Band line within this week. Starting from July 21st, however, the Bitcoin price has not fallen below the Bollinger Band midline. The market seems to stay bearish.
The price of Ethereum is changing in a more extreme way than that of Bitcoin. This week, the price of Ethereum entered a more obvious stagnation period. From the 7th, the price of Ethereum fluctuated below $3150, and several attempts to stabilize above $3150 ended in failure. Like Bitcoin, after the lowest price of Ethereum on the 12th broke through the 7-day moving average, it rebounded on the 13th. $3100 is the current demarcation point of the price change. If Ethereum oscillates below the $3100 in the short term, it means that the price of Ethereum has insufficient momentum. From the MACD index, the price of Ethereum showed a weak short-selling signal on the 13th, but from the perspective of momentum, the price of Ethereum is still dominated by upward momentum. Given the continued relief plan of the U.S. government, the cryptocurrency market may continue to benefit from it.
click here to read：Gate.io Weekly Newsletter: Crypto Market On the Rise, $600 Million Hack on Poly Network Leads to Concerns About Security of DeFi
Gate.io Blog
As a new information section of Gate.io, the Gate.io blog function will provide users with all-round investment support. It will offer the most timely information in the industry, as well as informative columns, exclusive research reports, interesting encyclopedia info, and other high-quality content. All of these combined will enable you to grasp the most valuable and high-quality information without leaving home.
We invite you to experience and bookmark this blog, in order to get essential investors tips.
Website: https://www.gate.io/en/blog/bloglist
*App will be launched soon, please keep an eye out for it!
Blog entry: “About-Gate Blog” at the bottom of Gate.io homepage.
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Gate.io Team
August、16, 2021
