Various factors have affected the price of Bitcoin (BTC) in June, including the regulator crackdown on crypto exchanges, Binance and Coinbase. Following a week marked by significant losses, the price of Bitcoin has shown some stability, but where would its price go next? Amidst the crypto market recovery, Tradecurve (TCRV) has stood out, outperforming other cryptos with its 30% price rise over the last week.
Bitcoin (BTC) Stage Recovery, What is Next?
Last week, the U.S. Securities and Exchange Commission (SEC) filed several lawsuits against Binance and Coinbase while labeling several cryptocurrencies as securities. The news sparked a major sell-off in the crypto market, including Bitcoin (BTC).
The price of Bitcoin fell by more than 10% in a week to drop to the crucial long term $25,100 support level. However, The price of Bitcoin experienced a strong reaction at the $25,100 support level. The mini-rally happened as the world’s largest asset manager, BlackRock filed for a spot ETF (exchange traded fund) with the SEC. The bounce sent the price of Bitcoin up by 4% in 24 hours to trade as high as $26,770.
Despite the rally, Bitcoin was once again rejected at $26,700. However, holding above the critical $25,100 support level means Bitcoin could build momentum over the next few days and attempt to retake the $28,000 resistance. Backing this bullish stand, market intelligence provider, Santiment, shared a chart showing the increasing number of whale transactions on the Bitcoin network.
Tradecurve Price Jumps 30%, What’s the Next Target for TCRV?
Tradecurve (TCRV) has been one of the most talked-about cryptos among investors because of its bullish performance in the bearish market. While Bitcoin and the rest of the cryptocurrency market have struggled over the last week, the price of TCRV has increased by as much as 30%. As a result of the price jump, TCRV has now set a new high at $0.018, and market analysts have forecasted even more price increases over the next few weeks.
There is a strong bullish sentiment about Tradecurve because the team is building the first DeFi platform to seamlessly connect cryptocurrencies with the global derivatives market. Currently, most trading platforms only support cryptocurrencies. However, Tradecurve will give users the opportunity to trade stocks, options, ETFs, commodities, and options from a single account. Tradecurve will benefit from the global OTC derivatives market and was valued at over $632 trillion by the Bank for International Settlements.
Furthermore, they believe that as the first DeFi platform that will bridge the derivatives market with cryptocurrencies, experts are bullish about the prospects of Tradecurve. Tradecurve is currently raising $20 million for the launch of this trading platform. The project is currently in the fourth presale stage, with TCRV retailing for $0.018 per token. Experts believe TCRV won’t stay at this price for long, with many predicting a $1.5 valuation before the end of 2023.
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Source: https://bitcoinworld.co.in/bitcoin-btc-price-analysis-tcrv-price-up-30/