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A Big Step for Bitcoin, a Huge Step for Mass Adoption: Purchasing BTC at Traditional ATMs

  • Thomas Hughes
    📈 Price Predictions

    The New York State Department of Financial Services (DFS) announced the approval for LibertyX to provide consumers Bitcoin through traditional ATMs.


A Big Step for Bitcoin, a Huge Step for Mass Adoption: Purchasing BTC at Traditional ATMs
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The New York State Department of Financial Services (DFS) announced the approval for LibertyX to provide consumers Bitcoin through traditional ATMs. New Yorkers will be able to use debit cards to purchase Bitcoin after creating a LibertyX account through a mobile app. The daily limit is $3,000 worth of Bitcoin.

LibertyX was the first to launch a Bitcoin ATM in 2014 and has since facilitated thousands of local stores with BTC payment options. This new development, which allows the purchase of Bitcoin via normal, traditional ATMs, is a huge step towards mainstream adoption and opens the cryptocurrency door to everyday people – all they need is a debit card.

BTC/USD – Chart Analysis

There’s been a new wave of selling over the weekend which took Bitcoin well below the $3,500 mark. This makes for an overall drop of 3.30% for the last 7 days (aggregate data, CoinMarketCap). Currently trading at $3,407 on Coinbase, BTC is rapidly approaching oversold levels as indicated by the Relative Strength Index.


BTC/USD chart

The pair’s price action spells bearish pressure all over: price just broke the range it was confined in (3750 – 3500) after successfully re-testing a broken bullish trend line and turning it into resistance. The break of the range is a big blow to the recovery started in December 2018 and could spell doom for BTC bulls.

The only bullish sign is the fact that the RSI has just entered oversold territory but there is a warning. This fact alone is not a signal to buy. If we can see a confident climb above 3500 coupled with the RSI moving up from below its 30-level then, maybe, the pair will reach its 100 period EMA (4H charts) and possibly 3750 but this will probably take a relatively long while.

Support zone: 3300 (Coinbase chart above; you will likely see different prices on other exchanges, but the charts are very similar)

Resistance zone: 3500, 100 period EMA

Most likely scenario: drop into 3300 support, followed by a bounce up

Alternate scenario: return above 3500 based on oversold conditions

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TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Should Buyers Fix Their Profit or Not Yet?

  • Denys Serhiichuk
    📈 Price Predictions

    It looks that buyers are fixing their positions. In this regard, is that a chance to buy or we need to follow the general market mood?


TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Should Buyers Fix Their Profit or Not Yet?
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

The situation on the cryptocurrency market has not changed a lot comparing to Thursday. Prices of most coins out of the top 10 have been reduced, however, there are 2 exceptions from the rule. Binance Coin and Litecoin are those ones that keep going up when other coins are ’’relaxing’’.   

Especially it is remarkable for BNB, whose rate has exceeded $20.


BTC’s domination rate is stagnating and now constitutes 52%.

BTC/USD

Friday, Apr. 19 has started for the main cryptocurrency with a red bullish candle, pushed down BTC from $5,274 to the $5,200 mark. Currently, the quotes are trading in the $5,200 - $5,250 corridor.

BTC/USD chart by tradingview

Yesterday, the main cryptocurrency managed to overcome the resistance of the Fibonacci level and tested the mark of $5,276 (61.8%).

If today we manage to return to this level, then the path to the $5,300 mark is possible. The target level of bulls will be reached, after which a pullback will start to fix positions.

On the whole, the BTC maintains an upward priority, but in the coming days, a flat range is also possible.

The price of BTC is trading at $5,256 at the time of writing.

ETH/USD

A general picture for Ethereum is even better than for BTC, as its price has not reduced so much.  Yesterday, the asset touched the $176 mark but was not able to consolidate it and rolled back to $170.

ETH/USD chart by tradingview

On the 1-hour chart, ETH has all efforts to come back to the $180 mark, which was achieved on April.10. That is confirmed by the RSI indicator and trade volumes.

👉MUST READ Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019
Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019

However, taking into account fundamental factors, some Ethereum based projects have started to migrate to Binance Chain network. If such a trend continues, it could negatively affect the ETH’s rate.

The price of ETH is trading at $171.89 at the time of writing.

XRP/USD

Ripple is the biggest loser from the top 3 coins, as its rate has dropped by more than 2% over the last 24 hours.

XRP/USD chart by tradingview

The price of XRP is trading at $0.33 and continues to move within the growth and the downward channel. The quotes XRP/USD are moving inside the Ichimoku cloud, which indicates the presence of a lateral trend for Ripple.

👉MUST READ XRP Price Prediction: huge profit warning detected. Ripple bulls in anticipation of rapid growth
XRP Price Prediction: huge profit warning detected. Ripple bulls in anticipation of rapid growth

An impetus for growth renewal can be the recent news concerning the Huobi exchange which added 3 more trading pairs for XRP.

The price of XRP is trading at $0.3322 at the time of writing

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