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Bitcoin broke down on June 22. falling to a low of $28,805. However, it rallied back up almost immediately, reaching a close of $32,509. While technical indicators are still bearish, the most likely wave count indicates that the bottom is in.
Bitcoin is again trading above the $33,000 level , Ethereum recaptures the $1,950 price mark . Both currencies dropped below these crucial support levels of $30,000 and $2,000 on Tuesday, along the other major cryptocurrencies – BNB, ADA, XRP and the others.
Enumerating the benefits of bitcoin, Coinex TP team compares it to gold. Saying that bitcoin with all its benefits qualifies it as a modern form of gold. BTC is easy to carry. It enjoys extreme liquidity internationally. And most of all, bitcoin supply is limited. No one can create more bitcoins. This means that it cannot be manipulated by the government for their gain. The coin supply can also not be manipulated by any developer.
This imposed scarcity means that bitcoin is not subject to inflation. Which is a major concern for the investors around the world.
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Coinex Trade Platform Ltd. UK Officially Registered Company. Company Registration Number: 12088440 Incorporated on 5 July 2019 https://coinex-tp.com
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