The CEO of Binance, Changpeng Zhao is imagining a scenario where Bitcoin has a market capitalization of $2 trillion. In his opinion, such a massive market cap would easily place the price per BTC at $100,000. One factor that could send Bitcoin’s market share to such levels is the ongoing printing of money by central banks around the world in a bid to avert potential economic crises amid the Coronavirus pandemic.
Bitcoin price confluence levels
Resistance one: $6,741 – Highlighted by the previous 15-minutes high, the previous 1-hour high and the Bollinger Band 15-mins upper curve.
Resistance two: $7,020 – The previous week high and the pivot point one-day resistance one converge in this zone.
Support one: $6,322 – The SMA five one-day, the SMA one-hour and the Bollinger band 4-hour middle meet here.
Support two: $6,043 – Highlights the SMA 50 4-hour, Fibo 38.2% one-week and SMA 200 one-hour.
Ripple’s XRP is changing hands at $0.1620, mostly unchanged since the beginning of the day. The coin has been range-bound recently, despite large movements in Bitcoin and some other altcoins. Ripple’s market value is registered at $7 billion, while its average daily trading volume exceeded $2 billion.
TRX, now the 17th largest digital asset with the current market value of $759 million, has settled at $0.0114 and stayed mostly unchanged both on a day-to-day basis and since the beginning of Wednesday. TRX/USD is moving in lockstep with the market, now range-bound after some wild gyrations at the beginning of the week.