Bitcoin and Notcoin both experienced significant price increases amid the recovery of the broader markets, showing a close correlation. Bitcoin has recovered ground over $63,000 while Notcoin broke past the $0.016 threshold, showing robust performance despite market fluctuations.
Bitcoin reaches $63K after market sentiment changes to positive
Bitcoin is now back above $63,000 after soaring by over 5% within 24 hours. This marks a major recovery since its low point of $53,500 two months ago.
BTC reached a new high today of $63,218.89. This could signal the end of recent pressure to sell Bitcoins that was caused by significant Bitcoin transfers made by US and German government officials and Mt. Gox.
The current Bitcoin recovery, according to analysts, is due to a number of factors. German BTC transactions are now complete, and Mt. Repayments of Mt.
Bitcoin is also expected to be boosted by signs that Jerome Powell may cut interest rates and the new S&P 500 highs.
Ben Simpson, the founder of Collective Shift’s crypto-education platform, thinks that Bitcoin is on a trend upward and has reached a local bottom.
Simpson notes that the fundamentals for Bitcoin are still strong despite recent negativity.
Bitcoin could be positively affected by political factors such as Trump’s improved chances of being reelected, particularly after the shooting incident.
Bitcoin must still navigate through key support and resistance levels in order to continue and expand on this momentum. Watch out for the critical $65,000 resistance level. If it is surpassed, this could lead to further gains.
Bitcoin must hold $60,000 to prevent further losses.
The Relative Strength Index is currently in an overbought area. A pullback to the 60k level is expected before further gains.
USDT/BTC H4 Price Chart
It is also important to maintain the trend by reclaiming the moving averages of 50 and 100 days.
As bullish momentum builds, Notcoin reaches a new high of $0.016
Notcoin has shown impressive growth and resilience as Bitcoin recovers. Notcoin (NOT) has seen 87.81% growth in the last week. It soared from $0.00912 up to $0.01699, before falling by around 20%.
Notcoin’s ecosystem has seen significant achievements and a strong support from the community.
Notcoin has over 200 initiatives, and attracted over 22.5 millions users. It also boasts a vibrant community with over 40,000,000 players.
The company’s growth has been attributed to the innovative model of play-to earn and its strategic partnerships.
Notcoin’s market cap is still $496m despite a drop of 55% in the trading volume.
The recent drop in prices was attributed by experts to the broader sentiment of the market, rather than to project-specific problems. This indicates future potential growth with the continued development of the ecosystem.
Notcoin must maintain its current momentum by holding the $0.01480 strong support.
The next level of resistance is $0.01718 if the price remains above the support.
If NOT falls below $0.01480 it could face further losses with an eventual target of $0.01374.
Not/USDT H4 Price Chart
It is important for Notcoin traders to monitor these levels of resistance and support.
This article Bitcoin Reclaims $63,000, Notcoin Rises Past $0.016: Does there exist a correlation between the two? The post Bitcoin reclaims $63K, Notcoin rises past $0.016: Is there a correlation? appeared first on ICD
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