Last week was pretty terrific for all the crypto investors as Bitcoin created a new ATH while the altcoins followed the lead. However, with a mild pullback in the Bitcoin prices falling sharply by $4k in a day, investors have been in speculations of another crash.
However, technical analysts have a completely different story to say. Experts believe that Bitcoin is likely to continue its rally and might touch the $90k mark in a few weeks. The longer time frames continue to be bullish, portraying a happy picture for all the Bitcoin investors out there. More on this below.
While cryptocurrencies have received their fair share of attention in India with billion-dollar investments in the crypto sector, RBI, India’s central bank, is still skeptical about them. RBI governor calls for ‘serious concerns’ around it from a macroeconomics and financial stability standpoint. Read what RBI has to say below.
Cryptocurrency is still a new investment tool that the world is trying to figure out. However, different entities around it have also started to gain attention from investors and traders across the globe. NFTs, non-fungible tokens are one such niche that is attracting a lot of investors. Coinbase, USA’s largest crypto exchange plans to offer NFT services super soon and believes it to play a lead role in the company’s expansion history.
Before we hop onto the top crypto news let’s briefly go through the top crypto gainers and losers for the day.
Crypto Market Trend November 13, 2021
Top 3 Crypto Gainers
|Cryptocurrency||Price (latest by November 13, 2021)||Change in %|
|The Sandbox (SAND)||₹225.10||6.83%|
|Basic Attention Token (BAT)||₹95.83||1.86%|
Top 3 Crypto Losers
|Cryptocurrency||Price (Latest by November 13, 2021)||Change in %|
Crypto Updates November 13
Bitcoin recently created an all-time high of $68000 and has been in talks for ETF approvals. Although there has been a pullback in the shorter time frames, technical analysts are still bullish about its movement.
Bitcoin (BTC) is still on to a run for the $90k mark as discussed by the experts. Despite falling back by $4k in a day and showing a mild correction in charts, experts believe there is nothing bearish about its movement. Tap here to read the analysis in detail.
Despite the increased popularity in crypto and billions of investments flowing into it from the Indian households, RBI, the Central Bank of India possesses ‘serious concerns’ about crypto.
This time the perception around crypto is from a macroeconomic and financial stability standpoint. The government of India has discussed Cryptocurrency in its Monsson parliament session and has not given any specific verdict concerning it. RBI governor, Shaktikanta Das, reiterated his concerns around the cryptocurrencies at Business Standard’s BFSI summit in the past week. Read about it in detail here.
Coinbase is planning to roll out its NFT (Non-fungible token) platform super soon. Brian Armstrong, CEO of Coinbase has asserted that this upcoming offering of Coinbase will play a major role in the growth of the company.
The largest crypto exchange in the US, Coinbase believes that this NFT offering will significantly boost the operations undertaken by the company. The number of people signed up for Coinbase’s NFT platform is ten times more than the number of users OpenSea saw in the past 30 days. Read more on this here.
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