This week in cryptocurrency we witnessed proceedings on Libra in the US Senate, one US lawmakers positive remarks on Bitcoin, American Billionaire Tim Draper’s comments on cryptocurrency regulations in India and price action showing signs of the bull run. BTC gained $1000 in less than 6 hours after positive remarks from US lawmakers.
The bulls need to surpass the $11,000 resistance level to start a fresh increase in the coming sessions. This week there were sharp downsides in major altcoins like Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB) and Stellar Lumens (XLM). While the market is recovering, bulls have to cross several resistance marks.
Bitcoin traded below $10000 the past week and an imminent upside correction started. Ethereum declined below the $200 support and is currently correcting its price.