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    Baxia Markets
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    October 04, 2021

    Bitcoin surge continues, aiming at $50,000 again

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    On Oct. 4, popular Twitter analyst TechDev noted common bullish behavior in Bitcoin's relative strength index in a series of tweets (RSI). BTC/USD is not short on bullish price projections for this year and beyond, although remaining below targets such as those of the Stock-to-Flow model. The relative strength index (RSI), a classic indicator for identifying overbought and oversold markets at a specific price, has joined them, implying that the 2021 bull run is just getting started.

     

    BTC1004

     

    Between July and September, trading volumes at major cryptocurrency exchange Binance increased, indicating that a recent crackdown by regulators around the world had minimal influence on the platform's profitability. Regulators from the United Kingdom and Germany to Hong Kong and Japan have increased their pressure on Binance in recent months, concerned about consumer safety and the standard of anti-money laundering procedures at crypto exchanges. Nonetheless, according to data produced for Reuters by UK researcher CryptoCompare, Binance's spot cryptocurrency trading volumes totaled $789 billion in September, up from $454 billion in July, confirming Binance's title as the world's largest digital asset marketplace.

     

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