As of this moment, the king coin looks drowsy in a market. A meager decline rate was observed which brought the price to $10,598.39. The circulating supply has 17,831,250 BTC tokens in play. The trading volume recorded has grown to $16.091 billion. The total market cap of Bitcoin is $188.982 billion.
So far, BTC has not been able to rally in a positive manner. However, the game is afoot. A slight bump was noted during the course of Saturday and Sunday, which had helped BTC reach $11,000 for a short span of time.
$BTC (mobile view)
Weekly/daily close was neutral
Closed in the range between primary support/resistance levels
But volatility expected to happen this week, BBands starting to pinch on 4 hour
Hopefully we get some live action on the charts to start the week 🎆 pic.twitter.com/ZUdBIdLElg
— Josh Rager 📈 (@Josh_Rager) July 22, 2019
The launch of Bakkt’s futures contracts is expected to take place today. In spite of regulations being a few obstacles, this might just help BTC soar higher than expected, to $12,000.
There is major resistance near $10,700 beyond which there is a possibility of smooth-sailing if buyers are able to effectively cease control. The testing phase for Bitcoin futures for ICE-backed Bakkt will kick off ASAP, which will hopefully give BTC the edge it needs to grow.
The COO Adam White had stated a month ago, “This launch will usher in a new standard for accessing crypto markets…” At that time, BTC was below the $8500 level, but has since gained in price.
Moving $5 million in gold across borders:
– 104 kilos
– private jet
– risk of confiscation
Moving $5 million in BTC across borders:
– holding your private keys https://t.co/V4dVOV1OjO
— Bitcoin Magazine (@BitcoinMagazine) July 20, 2019
As years pass, more people are coming to realized the backdrops of fiat currencies. Few think that Bitcoin has already reached a gold standard, thereby dubbing it as “Digital Gold”.