News

Bitcoin on a rise consecutively: Best Time to invest on Cryptocurrency

Spread the love

Bitcoin on a rise consecutively: Best Time to invest on Cryptocurrency – There is a consecutive rise in price of Bitcoin for the past days now. Investors see it as a good time to strike. Also, new investors and accounting firms from reputable countries like Canada has also embraced cryptocurrency; Bitcoin and Ethereum which has helped in increasing the rise in price of Bitcoin.

Bitcoin on a rise consecutively: Best Time to invest on Cryptocurrency

Investors are re-embracing risk assets across global markets as Bitcoin gains for a fifth consecutive day, the longest winning streak since September. According to coinmarketcap.com, the largest cryptocurrency gained 6% to $44.5K.

Investors are going bullish on reports that reveal KPMG’s Canadian branch has provided its corporate Treasury with its first cryptocurrency asset allocation.

Through Gemini Trust Company’s execution and custody services, the privately held firm said Monday that it had acquired bitcoin (BTC) and ether (ETH) on its balance sheet.

Read: KPMG Canada adds Bitcoin and Ethereum Crpytocurrency to its Treasury and Balance Sheet

A governance committee was set up at the Toronto-based company to oversee and approve Treasury allocations, including tax and accounting reviews and risk assessments.

The price of bitcoin increased strongly after breaking through the $42K resistance level.

Currently, the flagship crypto is trading well above the 100 hourly simple moving average. If the pair continues to rise above $44,500 in the near future, it could continue to rise.

After the $40K level was closed above, bitcoin gained bullish momentum. To move even further into a positive zone, the pioneer cryptocurrency exceeded the $42K resistance level.

The recent upward movement accelerated above $43K. Last but not least, the price soared over $44K and settled above the 100 hourly simple moving average. Currently, the price is consolidating gains near $44,528.

Investing in some of these riskier asset classes has become much more comfortable after the recent pullback.

While the market generally isn’t out of the woods yet, there’s lingering uncertainty on numerous fronts, including how quickly the Federal Reserve can act to quell rising inflation.

How to be updated regularly

basedonnews

Share
Published by
basedonnews

Recent Posts

NYSC Batch C Stream 2 2024 | Online Registration Starting Date, Mobilization and Camp Date

NYSC Batch C Stream 2 2024 Update | Online Registration Starting Date, Mobilization and Camp…

1 month ago

Nigerian Army (NA) 88RRI Recruitment 2024/2025 Application Form Portal

Nigerian Army (NA) 88RRI Recruitment 2024/2025 Application Form Portal - Do you want to apply…

1 month ago

Chief Security Officer (CSO) at United Nigeria Airlines: How to Apply

Chief Security Officer (CSO) at United Nigeria Airlines: How to Apply: United Nigeria Airlines is…

3 months ago

Safety and Quality Manager at United Nigeria Airlines – Apply Here

Safety and Quality Manager at United Nigeria Airlines - Apply Here:  I am directed to…

3 months ago

NYSC Corps Members Allowance – DG Gives Assurance of Stipend Hike

NYSC Corps Members Allowance - DG Gives Assurance of Stipend Hike This article is directed…

3 months ago

How To Check If Your FG Loan Application Status Is Verified

How To Check If Your FG Loan Application Status Is Verified: As the Federal Government…

3 months ago