BTC analysis for May 14, 2020 – Strong resistance at the price of $10.000 is on the test. Watch for potential downside rotation

By | May 14, 2020
InstaForex
BTC analysis for May 14, 2020 - Strong resistance at the price of $10.000 is on the test

Relevance up to 08:00 2020-05-15 UTC–5

BTC News:

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Major cryptoasset exchange Coinbase claims that although most of its users initially favor bitcoin (BTC), the vast majority also go on to trade altcoins and other digital assets.

In ablog post, the platform claimed,

“Among customers with at least five purchases, 60% start with bitcoin but just 24% stick exclusively to BTC.”

It means that 60% of BTC buyers on Coinbase are going into altcoins eventually.

In total, it claims that “over three quarters” of its customers “eventually buy other assets” – namely altcoins. Furthermore, Coinbase says its customers “trade non-BTC assets at a roughly 3% higher rate than their relative market caps would suggest.”

Technical analysis:

Trading recommendation:

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2020

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