Cryptocurrency metrics FAQsThe developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued. Only a certain number of these assets can be minted by mining, staking or other mechanisms. This is defined by the algorithm of the underlying blockchain technology. Since its inception, a total of 19,445,656 BTCs have been mined, which is the circulating supply of Bitcoin.
In the dire case, Bitcoin price could dip into the demand zone between $21,711 and $20,155. This outlook draws inspiration from the Relative Strength Index , currently declining to show falling momentum. Similarly, the histogram bars of the Awesome Oscillator flash red to suggest a presence of bears in the market.Conversely, a renaissance by the bulls could alter the impending fate for Bitcoin price, with a possible foray back above the psychological $28,000, level last tested on August 29.
Like BTC, the momentum indicators point to a similar outcome as momentum is steadily declining and the RSI could soon activate a signal to sell ETH when it crosses below the signal line . Traders heeding this call would bode poorly for ETH.On the other hand, late or sidelined investors could salvage Ethereum price from the impending slump, with a possible move above the $1,701 resistance level.
Source: News Formal (newsformal.com)
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