Major crypto assets are back in the range boundary action following weekends as the update on the Ethereum network upgrade. Bitcoin and other major legacy cryptocurrencies have maintained steady range-bound price action with bearish bias across Asian and European market hours today Major cryptocurrencies are expected to decline as a future investor sentiment surrounding crypto assets Crypto assets could reclaim price to increase the risk of impairment.
New Year For Announced Hard Fork
Banks clear permissions specifically meant for handling cryptocurrencies and digital assets. It was a long way to go. In fact, the impact of approval on the market could be compared to the impact of the loan from the SEC as banks would be legally authorized to handle cryptocurrencies as a form of legal tender / money. As of writing this article, the BTC / USD is trading at $ 3557.9 down by 0.81% on the day. Bitcoin is currently in range bound action with upside move and strong resistance near $ 3585 handle.
Amid lack of clear directional bias, news-driven price action will provide major crypto short term profit opportunities in immediate and near future. Sharp downside spike that hit as low as $ 112.04, ETH / USD pair is trading at $ 115.85 down by 1.78% on the day. The much-awaited Constantinople has been updated on February 27 at block number 7, 280,000. However, this announcement has failed to generate any visible impact on the market as investors continue to remain wary of crypto assets.