Alt-Coins Continue to Find Life
The current price of Bitcoin is $3915 and 24 hour volume is leveling at 10.3 billion USD.
Bitcoin's sideways movement since the pas few days points to continued consolidation in the high $3000’s and validates the overall growing positive sentiment . The last thirty days exemplify the basis that consumers are accumulating an array of cryptocurrencies. If anything, the amount of volume associated with this price region indicates extreme interest from both buyers and sellers.
The market structure, as a result of bulls seemingly stepping in , should shift in the coming weeks.
The important zones outlined for $BTC remain the same (see chart below). For now, bitcoin's price action looks healthy, but $BTC could still retest support at $3500 before the next attempt to take hold of $4000.
It would be a good time to start examining multiple alt set-ups since the start of 2019.
In other news, the owner of the Burj Khalifa, World’s largest building, is planning an ICO. The Emaar group, one of the largest real-estate groups in Dubai, is planning an Emaar community token that will be used as a referral and loyalty benefits. The goal is to launch the initial coin offering by the end of 2019.
This is yet another example of a powerful and established company expanding its business processes by utilizing blockchain technology. Many companies have already begun to take steps towards embracing this ground-breaking technology, and we only expect this trend to continue with even higher levels of integration moving into the future.