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Bitcoin brushes off market FUD, increases in price

By November 23, 20232 minute read

The recent Federal Reserve meeting hasn’t completely dismissed the potential for a future rate hike if economic conditions necessitate. The pace of economic growth appears to have slowed, potentially influencing upcoming policy decisions.

Bitcoin has experienced a remarkable surge, surpassing a 100% increase, showcasing a notable performance year-to-date. Concurrently, Ethereum is demonstrating steady upward momentum, nearing the $2200 threshold.

The Exponential Moving Average for 10-day EMA indicates “Buy” at 36853 and 200-day EMA indicates “Buy” at 29520. The Simple Moving Average for 10-day SMA indicates “Buy” at 36829 and 200-day SMA indicates “Buy” at 29125.

The Ichimoku Base Line, valued at 35962, continues to be neutral. The Hull Moving Average indicates “Buy” at 30729. The Volume Weighted Moving Average indicates “Buy” at 36530. 

The Relative Strength Index (14) sits at 60, indicating “Neutral”. The Stochastic %K (14, 3, 3) at 62 and the Average Directional Index (14) at 56 indicate a Neutral outlook. 

The MACD Level (12, 26), at 1093, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) at 16 and William’s Percentage at -21 indicate “Neutral”.

As of 10:00 AM, 23rd November 2023, on WazirX, Bitcoin’s price is ₹32,65,305, with a 0.05% decrease in the last 24 hours. There was a 0.16% increase in its price in the last week.

Ethereum (ETH) is trading at ₹1,81,000. There was a decrease of 0.01% in the last 24 hours. There was a 3.08% decrease in its price in the last week.

The top gainers on WazirX include Blur (BLUR), FTX Token (FTT), Uniswap (UNI) with price increases of 23.35%, 23.05%, and 18.29%, respectively.

However, the tokens that underperformed comprised Skale Network (INJ), Decred (DCR), and Synthesis Network Token (STMX), with a price decrease of 13.78%, 12.82%, and 8.39%, respectively.

Shiba Inu (SHIB) saw a price decrease of 0.69% and is now priced at ₹0.000711. Dogecoin (DOGE) saw a increase of 1.03% and is now priced at ₹6.61.

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.
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