Bitcoin Gains 3.61% But Fails to Break Through Resistance Levels
Bitcoin, the cryptocurrency with the highest market capitalization, rose by 3.61% to $25,062.33. Ethereum increased by 3.13% and was trading at about $1,725.61.
Bitcoin, the cryptocurrency with the highest market value, increased by 3.61% on February 20 and was trading at $25,062.33. Meanwhile, Ethereum increased by 3.13% and was trading at around $1,725.61.
Investors and traders are keeping a tight eye on recent price variations in Bitcoin, as the world's top cryptocurrency stays inside a narrow trading range. On the one-hour chart, it is clear that Bitcoin has been trading above the 200-day moving average, signaling promising possibilities for bullish investors.
Despite this, the cryptocurrency has struggled to break through its current resistance levels of $25,452.09 and $25,148.28 and has subsequently fallen.
Bitcoin News
The BIS, a central bank-owned entity, evaluated data from cryptocurrency trading apps used in 95 countries, as well as on-chain data from IntoTheBlock on the daily distribution of bitcoin holdings. According to the statistics, while the bitcoin price was above $20,000 from August 2015 to December 2022, almost 75% of consumers downloaded a cryptocurrency platform application.
According to the analysis, the median investor who downloaded the app would have lost $431 by December 2022, which is about half of their total invested money of $900 since beginning to use the program.
This figure is greater in several developing market economies, including Brazil, India, Pakistan, Thailand, and Turkey. Furthermore, the survey claimed that if investors continued to contribute every month, more than four-fifths of consumers would have lost money.