Bitcoin has increased by 81% so far this year. The latest price hike has been triggered by investors losing confidence in traditional financial institutions.
However, the SEC’s latest statement on ensuring investor protection for digital asset consumers and creating a secure ecosystem has created a positive sentiment towards Crypto in general.
Moreover the G7 countries are deliberating on cohesive regulations for the ecosystem as the number of investors continue to grow and more organizations/individuals start gaining exposure to Crypto.
The Exponential Moving Average for 10-day EMA and 200-day EMA indicates “Buy” at 28923 and 23358 respectively. The Simple Moving Average for 10-day and 200-day SMA indicates a “Buy” at 28637 and 20896.
The Ichimoku Base Line, valued at 28558, continues to be neutral. The Hull Moving Average indicates “Sell” at 30171. The Volume Weighted Moving Average indicates “Buy” at 28262
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 69, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) indicate a Neutral outlook as well at 90 and 37 respectively.
The MACD Level (12, 26), at 997, indicates “Buy”. The Stochastic RSI Fast (3, 3, 14, 14) continues to be “Neutral”at 93 and the William’s Percentage indicates “Sell” at −17.
As of 10:00 AM, 12th April 2023 on WazirX, Bitcoin’s price is ₹25,92,261, with almost 0.45% decrease in the last hour. There was a 0.64% increase in its price in the last 24 hours. The 7 day BTC is up 5.34%
Ethereum (ETH) is trading at ₹1,63,201, with an decrease of 0.49% in the last 24 hours. The 7 day ETH is up 0.36%.
The top gainers on WazirX include Yearn Finance (YFI), Solana (SOL), and Decred (DCR), with a price increase of 6.77%, 4.99%, and 4.44%, respectively.
However, the tokens that underperformed comprised Gifto (GFT), NKN (NKN), and Swipe (SXP), with a price decrease of 9.32%, 6.46%, and 6.13%, respectively.
Shiba Inu (SHIB) saw a price decrease of 2.06% and is now priced at ₹0.000947. Dogecoin (DOGE) saw a decrease of 0.95% and is now priced at ₹7.25.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
