The University of Cambridge has conducted a study. It shows that the number of unique cryptocurrency users has increased by 189% over the year.
According to the report, at the moment, 101 million people own cryptocurrency wallets, while the number of wallets is 191 million. In 2016, only 5 million people used cryptocurrencies, and the number of wallets at that time was 45 million.
Interestingly, over the past year, the number of cryptocurrency users increased by 189%, but the number of wallets only 37%. It suggests that new users start with only one wallet.
The researchers also noted the growth of the area of stable cryptocurrencies. From 2018 to 2020, the number of service providers accepting Tether for payment increased from 4% to 32%. At the same time, the support of other stable coins increased from 11% to 55%.
Besides, the growth in the number of full-time employees at cryptocurrency companies slowed down by 29% in 2019.
The analysts also considered that 39% of electric power for mining equipment operation is taken from renewable sources. Mainly, the energy produced by hydroelectric power plants is used to power the farms.
Recent research by Chainalysis suggests that the number of new investors in the bitcoin market is growing rapidly.
Technical analysis of Bitcoin (BTC):
Over the past weekend, the price of bitcoin dropped to the support level of $10,550. Then the price of bitcoin rose to the resistance level of $10,950. Now, the price of bitcoin is $10,860. In the future, we predict a slight decrease followed by an upward movement. The nearest resistance levels are $10,900, $11,000, $11,100, $11,300, $11,400, $11,500, $11,650, $11,850, $12,000, $12,230, $130,00, $13,500. The nearest support levels are $10800, $10,700, $10,500, $10,340, $10,300, $10,250, $10,200, $10,000, $9,850, $9,600, $9,400, $9,300, $9,200, $9,000, $8,600.
Technical analysis of Ethereum (ETH):
Over the past weekend, the price of ethereum rose to the resistance level of $360. Then it dropped to the support level of $345. Now, the price of ethereum is $355. In the future, we predict a decline. The nearest resistance levels are $365, $375, $380, $385, $390, $400, $410, $415, $420, $430, $440, $443, $470, $475, $500, $530. The nearest support levels are $355, $350, $330, $325, $310, $300, $290, $277, $270, $260, $257, $250.
Technical analysis of Ripple (XRP):
Over the past weekend, the price of ripple rose to the resistance level of $0.2450. Then it dropped to the support level of $0.2380. Now, the price of ripple is $0.2420. In the future, we predict a decline. The nearest resistance levels are $0.2450, $0.2480, $0.25, $0.2550, $0.2580, $0.26, $0.27, $0.28, $0.29, $0.2960, $0.30, $0.3080, $0.31, $0.32, $0.3250, $0.3450. The nearest support levels are $0.24, $0.2350, $0.23, $0.2250, $0.22, $0.2150, $0.21, $0.2060, $0.2020, $0.20.
