Crypto Market Overview – April 21st, 2021
As the working week reached its apex, the crypto market continued to experience struggles against the events of last weekend. The following is a short overview of some of the news that made the headlines on Wednesday, April 21st, 2021.
Bitcoin trying to reach a bullish rebound
Bitcoin is trying to recover after its dramatic drop during the weekend as the cryptocurrency is testing new limits and attempting to make a rebound into bullish trends. And though a rebound was achieved to a $55,000 region, the technical indicators on the daily charts are continuing to show bearish investor sentiment. The MACD indicator has moved into the red zone, and the RSI is trading below the 50 mark. Adding to the gloom is the Stochastic Oscillator that has managed to create a bearish crossover. However, the current rebound is very significant for all market participants, as Bitcoin is trading above the support line of a potential parallel upward channel. This is an indication that the current price action may be a running flat correction. The given trend will be regarded as bullish as long as Bitcoin is trading above the $51,000 support area and the channel support line.
Dogecoin serving dogs
The Doge memecoin is now serving a noble purpose as an anonymous donor has contributed his Dogecoin to pay for the adoption fees at a Florida homeless animal shelter. The dogs are truly getting the benefits of their furry digital companion, as all the dogs in the shelter will now be adopted. The shelter has stated that the anonymous woman made a wise investment decision as a human being, and not as an investor.
Blockchain.com gets influx
Scottish technology investment giant Baillie Gifford reports that it has invested over $100 million in the Blockchain.com company. The investment giant with a 113-year long history has made its first ever investment in a cryptocurrency company, citing corporate secrecy regarding the allocation of the funds in question. The giant has made numerous wise and profitable investments in the past, including in companies like AirBnb, Tesla, Google, Amazon and many others.