Crypto market starting to try to recover, doge rebound?

Netgenz.com Economy and Business - Most cryptocurrencies (cryptocurrencies) successfully rebounded to the green zone on Thursday (3/6/2021) morning trading Indonesia time, after having declined in the first trading day.


doge
Dogecoin


Based on data from Investing at 09:00 WIB, Bitcoin price soared 2.8% to US$ 37,311.9 or equal to Rp 532,749,672, Ethereum rose 3.38% to US$ 2,672.93 (Rp 38,169,440) , Litecoin appreciated 1.31% to US$ 182.81 (Rp 2,609,013). Furthermore, Chainlink increased slightly by 0.09% to US$ 30.21 or equal to Rp. 431,399, Ripple was strong 1.37% to US$ 1.009 (Rp. 14,421), and Dogecoin shot 13.28% to US$ 0.412 (Rp 5,865). . Meanwhile, the Cardano digital coin today decreased by 1.1% to a status of US$ 1.72 or equal to Rp. 24,565.


The crypto market is starting to try to recover, after having been chronically revised last May. Traders faced mixed sentiment at the start of the week in June. The negative sentiment that arrived was from the US Securities and Exchange Commission (SEC), where last week they chose to postpone the agreement on the validity of the Bitcoin ETF program, WisdonTree.


At the end of April, the SEC postponed the agreement on the validity of the program with the same type but a different name, namely VanEck until June. Delayed validity agreements of Bitcoin ETFs can make traders inevitably look for other trading programs. Bitcoin, Ether, and other cryptocurrencies have been entangled in tighter ranges over the past few days, but some research remains hopeful that the bullish sentiment will return.


At that time, some observers thought that the 2021 Bitcoin meeting in Miami, which began on Thursday, was seen as an opportunity for a positive impact on price movements. This event is similar to the so-called 'Security Consensus', a theory that has yet to be proven if crypto prices generally rally as long or as quickly after the meeting begins. Mati Greenspan, CEO of Quantum Economics, says it's the 'Miami Securities'.


"The idea is that the gathering of several thousand people to speed up networking, share ideas, and close deals are a boon for 'grassroots' developments in the industry," Greenspan noted in a bulletin circulated on Wednesday (2/6/2021). At that time, the 'meme' digital coin, Dogecoin continued to be strong and was up around 20% over the last 24 hours.


The rally in Dogecoin has been the focus of attention since the Coinbase website posted on Tuesday (1/6/2021), which explained that traders who have a Pro account on the platform can start trading the cryptocurrency Dogecoin starting this Thursday. "Investors (traders) are likely to be wary over the long term, but this move will eventually have some power to attract traditional investors and not just on Robinhood/Reddit," said Edward Moya, Senior Market Researcher at Oanda.



Initially starting the other day, Coinbase offered users the option of a Pro account to trade Dogecoin. Coinbase is the largest crypto trading-based company in the United States (US), and even the world. Its Pro account, designed for professional traders. If there is sufficient liquidity, then Dogecoin trading will start on or after 09.00 Asian times on Thursday (3/6/2021). The company explained that it plans to issue it in three stages, namely post-only, limited and full trading.

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