Trading forecast and signal for cryptocurrencies for today, April 27
The price of Bitcoin has recovered to the level of $55,100 per barrel. Ethereum strengthened towards the $2,500 resistance, while XRP reached the $1.28 price point. The total capitalization of the cryptocurrency market has increased to $2.01 trillion.
JPMorgan Chase financial holding will open access to the first cryptocurrency to some clients through a Bitcoin fund. According to CoinDesk, the investment tool will be launched in the summer of 2021. The New York Digital Investment Group platform will probably be charged with asset storage. The JPMorgan Managed Fund will target the clients of the private equity division. Recall that in February 2021, the bank announced its readiness to add support for Bitcoin if there is demand. In March, the holding announced the launch of a basket of shares of companies associated with cryptocurrency. They also saw interest in Bitcoin from institutional investors.
The market capitalization of the dollar-pegged Tether stablecoin has surpassed the $50 billion level. Over the past month, the indicator has grown by more than 10 billion. USDT accounts for 52.7% of the total cryptocurrency trading volume. At the end of March 2021, an independent auditor confirmed that the issuing company's reserves were sufficient to fully secure the stablecoin. Earlier, Tether announced the launch of a stablecoin in the increasingly popular Polkadot and Kusama networks.
Trading forecast for Bitcoin, ETH and XRP cryptocurrencies
In the forecast, I expect Bitcoin to move to the levels of 55000, 54500 and 54000 Dollars. Ethereum will decline to the levels of 2470, 2450 and 2430 Dollars, and XRP - to the price values of 1.25, 1.22 and 1.20 Dollars.