The American cryptocurrency exchange Coinbase reported that most of its users buy other cryptocurrencies after buying bitcoins.
According to Coinbase analysts, users who bought bitcoin, afterward invest in other cryptocurrencies, while interest in altcoins increases during the “bull market”.
Bitcoin remains the dominant asset, but altcoin trading volumes are growing during market volatility. For the first time, such a trend was discovered by analysts during the growth of the Bitcoin exchange rate in 2017, then it became even more pronounced. At the same time, users also bought relatively new cryptocurrencies, such as Tezos and Chainlink.
After registering on the Coinbase exchange, bitcoin becomes the first purchase of 60% of users. However, subsequently, 36% of users buy other cryptocurrencies.
According to analysts, Bitcoin will remain a leading asset in the cryptocurrency market for a long time to come. It has the greatest liquidity, security, and decentralization while remaining fairly simple in terms of technology.
Let us recall that at the end of April, Coinbase launched a price oracle to ensure the security of crypto assets blocked in DeFi applications and protocols.
Technical analysis of Bitcoin (BTC):
Over the past day, the price of bitcoin rose to the resistance level of $9,950. Now, it is $9,720. In the future, we predict the continuation of the uptrend. The nearest resistance levels are $9,950, $10,000, $10,250, $10,500. The nearest support levels are $9,700, $9,400, $9,200, $8,600, $8,150, $7,900, $7,600, $7,500.
Technical analysis of Ethereum (ETH):
Over the past day, the price of ethereum grew to the resistance level of $206. Now, it is $203. In the future, we predict the continuation of the uptrend. The nearest resistance levels are $206, $209, $216, $218, $226, $245. The nearest support levels are $200, $198, $193, $189, $186, $183, $178, $174, $169, $166, $157, $161.
Technical analysis of Ripple (XRP):
Over the past day, the price of ripple grew to the resistance level of $0.2060. Now, it is $0.2040. In the future, we predict an uptrend. The nearest resistance levels are $0.2060, $0.21, $0.2150, $0.22, $0.23, $0.2350. The nearest support levels are $0.2, $0.19, and $0.1820.
