According to analysts at one of the world’s largest investment banks, JPMorgan, bitcoin was the most stable asset during the global financial crisis in March.
Analysts noted that bitcoin performed well in March. They were surprised that liquidity on large cryptocurrency exchanges was preserved to a greater extent than on traditional markets, such as securities, gold and US bonds, and even in foreign exchange markets.
Analysts briefly touched on the stablecoin market, noting that the fall in markets in March did not affect cryptocurrencies. At the same time, cryptocurrencies themselves, according to researchers, showed themselves well during this “stress test”. The report notes:
“There is little evidence that Bitcoin and other cryptocurrencies are safe assets. Their rate is significantly correlated with risky assets such as stocks. This shows that they will survive as an asset class, but rather as a means of speculation than as a means of exchanging or preserving wealth.”
Technical analysis of Bitcoin (BTC):
Over the past weekend, the price of bitcoin dropped to the support level of $8,880. Now, it is $9,120. In the future, we predict a rise in the price of bitcoin. The nearest resistance levels are $9,200, $9,300, $9,400, $9,500, $9,600, $9,850, $10,000, $10,250, $10,500, $11,000, $12,230. The nearest support levels are $9,000, $8,600, $8,150, $7,900, $7,600, $7,500.
Technical analysis of Ethereum (ETH):
Over the past weekend, the price of ethereum fell to the support level of $218. Now, it is $223. In the future, we predict an increase in the price of ethereum. The nearest resistance levels are $225, $235, $238, $240, $250, $257, $260, $270. The nearest support levels are $220, $218, $216, $212.
Technical analysis of Ripple (XRP):
Over the past weekend, the price of ripple dropped to the support level of $0.1820. Now, it is $0.1840. In the future, we predict an increase in the price of ripple. The nearest resistance levels are $0.19, $0.1950, $0.2, $0.2020, $0.2060, $0.21, $0.2150, $0.22, $0.23, $0.2350. The nearest support levels are $0.1820, $0.18.
