Bitcoin (BTC) has been trading in a narrow range for the past few days, indicating that investors are losing trust. With a cluster of resistance thresholds ranging from $56,000 to $60,000, the rebound from the April 17 sell-off appears sluggish. At the time of publication, the cryptocurrency was selling for around $54,449. On the four-hour tracker, BTC has broken its uptrend since March and has struggled to reverse a sequence of lower price highs since April 1.
JPMorgan's new Bitcoin price worries are at odds with $52K's "immense funding." In a note published Tuesday, strategists led by Panigirtzoglou predicted that if Bitcoin doesn't break back above $60,000 soon, momentum signals will collapse.
Dogecoin (DOGE) was down 18 percent on Wednesday after "Dogecoin Day" - a failed effort to raise the price to $4.20 - failed miserably.
Gemini, Tyler and Cameron Winklevoss' crypto trading network, has released a new State of U.S. Crypto Report, which details consumer developments in the crypto industry in the United States. The information was gathered from a nationwide survey of 3,000 adults in the United States aged 18 to 65 who had a household income of $40,000 or more.
Over the course of 2021, the study predicts a major expansion and diversification of the country's crypto investors. As many as 63 percent of respondents described themselves as crypto-curious, indicating that they do not currently own cryptocurrency but are interested in learning more or intend to purchase cryptocurrency in the near future.