Blockchain technology and cryptocurrency have been attracting a lot of Wall Street executives to the industry. The last executive to join the trend is Mr. Gary Gensler, the former financial regulator. Mr. Gensler will be teaching a course about the potential of blockchain at MIT.
While Mr. JP Morgan has already made some headlines regarding its view on cryptocurrencies, Daniel Masters (the former head of the global energy trading desk of the company) strongly believes that the cryptocurrency market is going to expand far more than what it is now in the future.
Bitcoin’s value has again gone into a state of amalgamation close to the $9,200 mark. Putting the tight consolidation into consideration, it is recommended that traders book partial profit around this mark. In a little period of time, it is believed that the value of bitcoin will fall within the range of $6,000 and $12,000.
With this large range, bitcoin can be traded with little or no difficulty. The target should be to invest when the value is close to the $6,000 mark and close positions when the value is approaching $12,000. Within these levels, the volatility of the currency will be very high.
The value of the Ethereum is currently on the rise without entry opportunities. Sometimes, you might have to miss some trades because they do not offer potential entry levels. Never rush into a trade just because you are scared of missing out. The value of Ethereum has rallied to $745, and the value may either consolidate or correct – this depends on the underlying strength.
Bitcoin Cash has done very well, even beyond expectation. It is forging ahead and making so much progress. Bitcoin is currently on its way to the $1,600 mark.