Recently, some big-name investors, including George Soros and the Rockefeller family, signaled their interest in blockchain technology and cryptocurrenices. That against a backdrop of potentially favorable seasonality. Recently, the Bitcoin Dominance Index has been rising, confirming the dominant perch of the cryptocurrency. After bitcoin, the largest cryptocurrencies are Ethereum, Ripple, Bitcoin Cash and Litecoin.

“Given the digital currency’s volatility, Ross said round numbers like $9,000 are of less significance from a technical standpoint. Instead, he is keeping an eye on the 50-day moving average of about $8,600 as key support and the 150-day at $9,700, which he said have defined the range over the past eight sessions,” according to Bloomberg.

There is significant room for growth in the cryptocurrency universe. Recent data suggest a small amount of American investors own any digital currencies and, after bitcoin, the numbers of crypto ownership dwindle.

For more information on the cryptocurrency market, visit our Bitcoin category.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.