Silvergate Bank, serving cryptocurrency companies, reported on an increase in the volume of operations with bitcoin in the I quarter of 2020 by 75% compared to the previous quarter.
The bank’s report of the U.S. Securities and Exchange Commission (SEC) says that the volume of trading with bitcoin in the exchange network Silvergate (SEN) increased by 75%. The number of transactions more than doubled as well – SEN processed more than 31,000 transactions in the first quarter.
In April, more than 850 crypto companies were Silvergate clients. The bank’s clients include cryptocurrency exchanges and miners, custodial services, and investors. At the same time, although many companies recorded losses during the market downturn, the volume of deposits in BTC increased immediately by $447 million.
Technical analysis of Bitcoin (BTC):
Over the past day, the price of bitcoin rose to the resistance level of $10,000. Now, it is $9,920. In the future, we predict a technical correction downwards. The nearest resistance levels are $10,000, $10,500. The nearest support levels are $9,700, $9,400, $9,200, $9,000, $8,600, $8,150, $7,900, $7,600, $7,500.
Technical analysis of Ethereum (ETH):
Over the past day, the price of ethereum rose to the resistance level of $216. Now, the price of ethereum is $210. In the future, we predict a technical correction downwards. The nearest resistance levels are $216, $218, $226, $245. The nearest support levels are $209, $205, $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 rose again to the resistance level of $0.2220. Now, it is $0.2160. In the future, we predict an upward movement. The nearest resistance levels are $0.22, $0.23, and $0.2350. The nearest support levels are $0.2150, $0.21, $0.2050, $0.19, $0.1820.
