Cryptocurrency Indices Coming in 2022, Courtesy of S&P Dow Jones Indices
Contents ▾
- Indexing Will Drive The Crypto Market Higher
- BTC/USD – Chart Analysis
Indexing Will Drive The Crypto Market Higher
Financial giant S&P Dow Jones Indices announced Thursday, December 3 that it will glucinium launching cryptocurrency indices in 2021, using information from Lukka, a New York based cryptocurrency company. The indices will include to a higher degree 550 top traded digital coins, reported to the two companies and it will be possible for S&P clients to make over bespoke indices and other benchmarking tools on cryptocurrencies.
This move made by S&A;P Dow Jones Indices, one of the just about perceptible names in the fiscal industry, is prospective to bring a lot more attention to cryptocurrency and help extremity assets top fully into the mainstream space.
The drumhead of innovation and scheme at S&P Dow Casey Jones Indices, Simon Peter Roffman, had this to say: "With digital assets such A cryptocurrencies becoming a rapidly emerging plus class, the meter is right for independent, dependable and user-friendly benchmarks".
Bitcoin is already trading near incomparable highs and recently written a new high for 2020, at $19,741 (data from CoinMarketCap), after PayPal declared cryptocurrency support and major companies like Straightforward and MicroStrategy have shown interest in digital assets by investing substantial amounts. Thusly the Member King already has a optimistic oblique, and the Holocene epoch news testament probably give it some other agitate, mayhap above the grievous $20,000 pull dow. And even if in the short term the digital asset will remain mostly indifferent, in the longer term, we will most likely see a reaction.
BTC/USD – Chart Analysis
Currently Bitcoin is trading at 19,030 against the US Buck and although information technology managed to impress a high high late, IT seems to clamber to stay in a higher place the resistance level at $19,500. The first part of today was bearish thus far, with a overflowing at $19,552 and a inferior at $18,893 (information from Bitstamp) just this doesn't mean value the bulls cannot reverse centering, peculiarly considering the overall positive opinion surrounding the crypto securities industry in general.
Recent price action established good support around $16,500 and unless something drastic changes, that level should non be broken for a while. As for the top side, if the duet can stabilize above $19,500, we will most likely see some other push towards the historical barrier at $20,000.
The Congeneric Strength Index and the MACD are both moving south, but this is likely a consequence of the latest tieback, which established $16,500 as support (indicators are slower than price and lag behind IT). In the short full term the pair may continue to move with bearish bias, but the general direction favours the bulls, especially given the latest news regarding S&P crypto indices.
Source: https://www.binaryoptions.net/cryptocurrency-indices-coming-in-2021-courtesy-of-sp-dow-jones-indices/
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