Bitcoin and Ethereum are still close to key levels

The world's two largest cryptocurrencies, Bitcoin and Ethereum, also fell on Wednesday and reached significant levels.

Bitcoin's latest exchange rate was around $ 60,665, up 0.9% on that day. It hit today's low of $ 58,400, but fell 12% from its Nov 10 high of $ 69,000, while Ethereum's price was $ 4,244, or more than 14% below its high of $ 4,868.

Although profit taking after inflation is considered the most important, analysts pointed out that there were other reasons behind the need for caution, including the volatility of Bitcoin's blockchain. rising inflation in the United States and more recently rising inflation in China. Advise state-owned enterprises not to get involved in cryptocurrency mining.

Since January, Bitcoin prices have doubled. Craig Erlam, market analyst at online broker Oanda, said in a statement that a drop below $ 58,000 could lead to a major overhaul.

Erlam wrote: “Probably where he got strong support last October. Considering that they have worked hard to make this a success since then, this could be the reason for a deep fertilization.

The news that Twitter will not invest in cryptocurrencies and that the United States Securities and Exchange Commission (SEC) has denied VanEck the first Bitcoin exchange in the United States is also known.

Chris Weston, director of research at Melbourne-based brokerage firm Pepperstone, said: "It makes us think we can view behavioral confusion in two ways, no," he said. A note written by the consumer.

In another sign that the world is embracing blockchain and cryptocurrency, Staples Game Center and downtown Los Angeles entertainment venue are in talks with Singapore's Crypto.com platform. Playground.

Over the past week, traders have become increasingly reluctant to pay attention to long-term holdings in Bitcoin futures contracts. Median income on Tuesday was 0.00354%, the lowest since September, and 0.04122% on November 10, according to data from cryptocurrency analysis platform CryptoQuant.

Profits represent the notion of a constantly volatile market, an important part of the Bitcoin derivatives world. A good currency comparison is bullish because the trader has to pay to work long, while a bad price means a fall because the trader has to pay to work short.

“The market equation between long-term demand and short-term demand looks healthy, with earnings now falling to the average,” a cryptocurrency analyst at Arcane Research said in a research report.

Bitcoin's commodities and earnings this year have steadily increased by $ 9 billion, and last week they totaled $ 151 million, marking the 13th consecutive week of direct investment. , according to data from digital management firm CoinShares on Monday.

Coinshares reported that while recent investments have been good, the average daily turnover was $ 750 million, which was slow compared to $ 960 million in the first half of the year.

QCP Capital, one of the leading digital trading companies in Singapore, noted that the selling of ETHereum (ETH) is also strong and that it could continue to be a viable option in the initial passion for tokens.

“After the prospect of the cleanup we got average. We expect BTC (Bitcoin) to be around 60,000 given the severity of the event. And ETH and altcoins there could be more changes. . "Telegram media platform.