Estonia has become the latest country to give Bitcoin bulls reason to cheer according to Marcus Sotiriou, Sales Trader at the UK based digital asset broker GlobalBlock. Here is a brief summary of the recent moves and news in Bitcoin and digital assets.
Estonia has become another entry on the list of countries to adopt Bitcoin. LHV, the biggest Estonian bank, is now allowing customers to buy crypto. Clients of the bank will be able to trade major assets like Bitcoin (BTC/USD), Ethereum (ETH/USD) and Chainlink (LINK/USD) on the LHV mobile app starting next week.
The cryptocurrency industry has gone global
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LHV joined Australia’s Commonwealth Bank, which announced plans to let customers trade Bitcoin and Ethereum recently. Let’s ignore the fact that Estonia’s population is lower in number than the Australian bank’s clients. This is important news because it shows how far crypto has come. One day, every bank will be compelled to integrate it in its offerings.
Bitcoin is in a downtrend, but outlook is still bullish
Bitcoin is currently trading at just under $57,000, quite a way below its recent ATH. However, the flagship crypto is in a downtrend on lower time frames, a fact demonstrated by decreasing resistance. Breaking above the $60,000 level would confirm a double bottom pattern. This is a bullish signal and could result in the asset resuming its uptrend in the near future, possibly reaching a new all-time-high.
Mercado Libre enables crypto investments in Brazil
In related news, another reason for Bitcoin bulls to cheer: Mercado Libre, the South American counterpart of eBay, announced they would enable crypto investments in Brazil. This kind of adoption from high-tech e-commerce companies shows how unlikely it is for the crypto industry to experience a bear market lasting several years like in the past. Soon, it will go completely mainstream.
GlobalBlock is a UK based digital asset broker that provides a personalised telephone broking service, trading platform and mobile app. Established in 2018 by an experienced team of financial services professionals, GlobalBlock acts as a trusted agent serving the cryptocurrency needs of individuals, corporates, institutional financial firms and intermediaries, providing best execution trading and safe custody of digital assets.
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