Bitcoin Is Ready For Another Volatile Weekend: Saturday Crypto Market Watch

Bitcoin seems to be charging at $7,600 as it marks a slight increase of around 2.1% in the past 24 hours. The cryptocurrency seemed stuck in the same confluence price zone between $7,300 and $7,400 but has managed to break above it, and it now trades at around $7,550.

As CryptoPotato reported earlier, an important resistance level to watch for is $7,700, which is where the bullish spike reached out. However, to see a real market reversal, we would have to see Bitcoin closing above $8,000. In any case, it appears that we might be in for another volatile weekend.

BTCUSD ChartBTC/USDT. Source: TradingView

At the time of this writing, Bitcoin’s dominance remains 66.9%, which means that altcoins are unable to claim any ground.

Almost all of the top 20 cryptocurrencies are marking either slight increases in the range between 0.5% and 1.5%, or they are in the red. The one that stands out, however, is Tezos. XTZ is up 8.65% against the US Dollar, and it currently trades at around $1,40. Tezos is also up about 6.4% against BTC, which is impressive, given the fairly slow market movements of late.

Major Crypto Headlines

Bitcoin Breaks Records: $8.9 Billion Processed In An Hour. Even though many are still focusing on Bitcoin’s price, the cryptocurrency’s network has managed to set a new record. It processed over $8.9 billion in on-chain transactions in a single hour, a few days ago. This highlights the long way Bitcoin’s blockchain has come and how it has improved over time.

Who Wants Bitcoin For $680? A Sudden Flash Crash On Binance USDS Market Sank BTC Price. Flash crashes tend to happen now and then. On December 5th, Bitcoin’s price dropped to $680 in an instant on the world’s leading cryptocurrency exchange – Binance. It happened with the BTC/USDS trading pair and those who had placed low buying orders.

Turn Of Events: General Manager of BIS Urges Central Banks To Embrace Digital Money. The General Manager of the Bank of International Settlements (BIS) has urged central banks to embrace digital money. He stressed the fact that the financial field is going through a revolution, and banks should be in charge of the momentum.

Significant Daily Gainers and Losers

EDUCare (33.65%)

EDUCare (EKT) is the most significant daily winner, as it marks a serious increase of around 33.65% against the USD. The cryptocurrency is also up 30.5% against BTC, and it holds a market cap upwards of $125 million. EDUCare introduces a public chain ecosystem that is based on multi-chain architecture.

Ravencoin (12.28%)

Ravencoin is another strong performer that has been doing quite well throughout the whole week. On the day, RVN is up 12.28% against the USD as it currently trades at around $0,03. The cryptocurrency is also up 9.6% against BTC. Sitting on a total market cap of almost $164 million, it’s the 38th largest project. Ravencoin brings forward a peer-to-peer blockchain which offers an efficient creation and transfer of assets from one party to another.

Enjin Coin (-7.77%)

As Cryptopotato reported earlier this week, Enjin Coin surged with 60% after news of its partnership with Microsoft broke out. However, during the last 24 hours, ENJ lost almost 8 percent of its dollar value, as well as almost 10% of its value against Bitcoin. However, it’s worth noting that it is still about 50% up for the week.

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Cryptocurrency charts by TradingView.
Technical analysis tools by Coinigy.

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