- Bitcoin price prediction is bullish as it’s breaking above the resistance level of 45,600 level.
- Brazil launched a new Green Bitcoin ETF named BITH11.
- Forex trading market participants should look for a buy trade above the $43,550 level.
The BTC/USD was closed at $43,770.0 after placing a high of $45,249.0 and a low of $43,300.0. After rising for the previous 4-consecutive days, BTC/USD turned its momentum on Sunday and broke its 4-day bullish streak. Bitcoin price prediction is bullish as it’s breaking above the resistance level of 45,600 level. Therefore, the bitcoin reached its highest since the mid of May during the early trading hours of the day. However, it could not stay there for long as investors started booking profits and prices reversed.
BitPay Survey – 60% People In Favor of Using Digital Assets for Payment
A bitcoin service provider BitPay and the interactive platform for financial services, PYMNTS.com, surveyed about 8000 American consumers. The idea is to determine how they feel about using cryptocurrencies as a means of payment for everyday purchases.
According to the survey, around 60% of the people wanted to use digital currencies to pay for goods and services.
Brazil Launches Green Bitcoin ETF – BITH11
Brazil continued to make progress in generating new investment opportunities related to digital assets. This week, the country launched a new Green Bitcoin ETF named BITH11. The new ETH replicated the Nasdaq Bitcoin Reference Price Index’s performance. It will be the second ETF available in Brazil, offering 100% exposure to Bitcoin. In total, the country now has about four crypto-related ETF’s available in the stock market.
The First Green Bitcoin ETF in Brazil will use the audits by a German company Crypto Carbon Ratings Institute. It’s to determine the environmental impact of BITH11 investments. Moreover, it will allow it to invest 0.15% of its liquid assets in carbon credits and eco-friendly technologies every year.
Furthermore, a Brazilian federal court ordered to sell a stash of bitcoin worth $1.1million. These bitcoins were seized by the Federal Police, which the Tradegroup sold. Besides, the company was allegedly operating as a Ponzi, under the cover-up of being a cryptocurrency investment company.
Brazilian court order initiates…
These assets were seized by the Federal Police back in 2015 from Tradegroup. Now it will be the first time a Brazilian court order initiates the sale of bitcoin from seized assets of a company. Whereas, the amount from the sale will be returned to many victims who filed lawsuits against the company and demanded back the invested money. However, only a portion of this money will be returned, not all because the credit sold in bitcoin was not enough to reimburse the losses.
On the other hand, a famous Youtube superstar and rapper, KSI ‘JJ’ said he was really into crypto and emphasized that Bitcoin was the future. Furthermore, he noted that many people do not understand that crypto was a long-term thing. Furthermore, he was asked what would be the first thing he would do if he became a prime minister.
In response to this question, KSI said that he would give everyone 100 British pounds worth of bitcoin. It will be like a bitcoin stimulus package for all as he was really into crypto and believe that Bitcoin was the future.
Ukraine’s Deputy Minister Oleksandr Bornyakov Supports BTC
The deputy minister of Ukraine’s Ministry of Digital Transformation, Oleksandr Bornyakov, said that in the coming days, it would be legal to pay with cryptocurrencies in the country. It will be payment intermediaries that will enable crypto-to-fiat conversions.
Moreover, the government official claimed that a new cryptocurrency-related bill in Ukraine would allow payments in cryptocurrencies like Bitcoin despite not recognizing it as a legal tender. This news added further strength in BTC/USD over the weekend.
Bitcoin Price Prediction – Daily Technical Levels
Support Resistance
42963.6 44912.6
42157.3 46055.3
41014.6 46961.6
Pivot Point: 44106.3
Bitcoin Price Prediction – Daily Technical Analysis: Double Top at $45,600
Bitcoin price prediction remains bullish above the $42,750 level. The BTC/USD’s immediate resistance stays at the $45,700 level, and a bullish breakout of this level can extend buying trend until $46,055 and $46,900 level.
On the 4-hour chart, the BTC/USD pair is trying to disrupt the resistance level of $45,600 level. If this happens, the next target will be a $48,650 level.
The oscillator tools like Stochastic RSI hold at 37 in the buying zone; therefore, we should look for a buying trade-in bitcoin today. Hence, the Forex trading market participants should look for a buy trade above the $43,550 level. The initial target remains at $46,550 and $48,650. All the best.
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