Issue 5 – 2023 Crypto Live Casino News – Is a the major bull run here?

Cryptos have come under scrutiny, but they are showing resiliance – find out more in our Issue 5 – 2023 Crypto Live Casino News update. (Photo by Kylie Anderson on Unsplash)

The cryptocurrency world suffered a bearish trend in May due to the U.S. government raising the debt ceiling and the subsequent withdrawal of billions of dollars in liquidity from the market.

These two factors affected the cryptocurrency market and caused a massive short squeeze, focusing mainly on Bitcoin.

Bitcoin bounced back on June 20^th, surging almost 10%, after the world’s biggest asset manager Blackrock, announced they filed for a spot Bitcoin exchange-traded fund (ETF). This move was supported by a crypto survey, where 96% of professional investors were keen to invest in the crypto world, to diversify existing clients’ portfolios.

If approved by the SEC, this filing will open the door for more institutional crypto-coin-related financial products. Other large financial institutions have since jumped on the bandwagon, expressing their interest in the crypto market, with hopes of delivering traditional finance to the cryptocurrency market.

This week’s report will review Bitcoin, Bitcash, Litecoin, TRON, Ripple and Ethereum to see where they may be headed near the end of June.

Last Month’s Report: See how cryptocurrencies performed last month via our Issue 4 – 2023 Crypto Live Casino News update.

Crypto Price Watch

(Issue 5 – 2023 Crypto Live Casino News)

• Bitcoin (BTC) – Bitcoin had a turbulent month of May, but has rebounded in the last few days, reaching a monthly high of $28,854 USD. BTC broke through resistance at $27,500 USD, after several global financial institutions backed a new cryptocurrency exchange EDX Markets (and Blackrock support). Bitcoin is poised to break $31,000 USD if the bullish run continues and dip-buyers return to exploit tempting entry points.

• Bitcoin Cash (BCH) – Bitcoin Cash outperformed BTC this week, with a 20% increase. The altcoin rode the wave of the EDX announcement that they would trade BCH (BTC, LTC & ETH). BCH traded at a high of $139 USD on June 20^th but has pulled back and is currently trading at $131 USD. The key resistance level is $140 USD and the next level is $153 USD (attained in February of 2023), with support at the $109 USD level.

• Litecoin (LTE) – There has been a significant growth in Litecoin, as evidenced by the rise in the number of daily active and new addresses as well as the total number of addresses on the Litecoin chain. Two key factors could be the reason for the renewed interest in LTC… the halving event and the EDX announcement. LTC jumped 10% a few days ago, after plummeting 16% earlier in June. The altcoin is currently trading at $84 USD and support is at $80 USD and resistance at $90 USD.

• TRON (TRX) – TRON has gained 28% since the start of the year but bearish sentiment has pulled it back after achieving a year to date high of $0.083 USD. In the last month the altcoin has lost 6% but has levelled out in the last week. It would appear that bear traders have taken control of the altcoin as it continues in the red. Market analysts believe this trend to be short-term and expect a bull run very soon. TRX is currently trading at $0.070 USD and seeing resistance at $0.071 USD.

• Ripple (XRP) – Ripple continues to flirt with the $0.54 USD level, which it attained several times since January. The rise in price could be because of the ongoing legal battle with SEC and that light at the end of the tunnel could be bright for XRP. The lead lawyer for XRP continues to put holes in the SEC argument that XRP is a security, perhaps causing an upward trend. The altcoin has gained 45% since the beginning of the year and the trend looks positive. XRP was trading at $0.49 USD at the time of writing.

• Ethereum (ETH) – Ethereum has had an impressive run of 58% in the last year, with 52% since January. The altcoin is currently trading at $1,813 USD and is seeing resistance at the $1,841 USD level. ETH had a period of correction but is starting an upward trend as it reverses previous losses earlier in June. The uptick could pertain to the EDX news and it has bolstered a bull run with keen investors.

Disclaimer: We are not a crypto expert. For expert advice covering crypto investments, please see professional website portals designed for this topic. On Live Casino Central we specialise in pointing players in the right direction to play live casino games with cryptocurrency bets available.