Here’s what you need to know on Friday August 28
BTC / USD had a noticeable pump towards $ 11,600 after positive feedback from the Federal Reserve, however, the “ rally ” was short-lived and Bitcoin is now trading at $ 11,254.
ETH / USD did something similar almost to $ 400 before falling back to $ 371, the lowest of the last 24 hours. The most important support level at $ 362 is still being defended.
XRP / USD struggles after losing the two daily EMAs which are extremely close to a bear cross. The digital asset is currently trading at $ 0.261.
UMA is up 20% in the last 24 hours, followed by Serum at 15% with significant trading volume of $ 200 million. Almost all other altcoin are in red today.
Chart of the day: 1 hour chart ETH / USD
The broader market swelled today after Federal Reserve Chairman Jerome Powell discussed changes to the inflation target for the United States, Tyler Winklevoss, said one of the biggest Bitcoin boosters have always been the Fed under the leadership of Jerome Powell.
The Fed, under the leadership of Jerome Powell, continues to be Bitcoin’s biggest accelerator. On Thursday, he will give a speech on how the Fed will start targeting higher inflation.
Bitcoin and others had a slight pump after the speech which lasted only a few minutes. Bitcoin is now lower than it was for the past 24 hours and other major coins are seeing a prolonged pullback suggesting a possible short-term reversal period.
LINE, the Japanese messaging company similar to Whatsapp and others has just launched a blockchain development platform.
Businesses can use the main features of LINE Blockchain developers to issue their own tokens, tokenize digital in-game assets (such as characters, items, and currency), ensure transparent transaction histories, and monetize data. For services that have been developed with the platform, token and object exchanges can also be verified on LINE Blockchain Explorer (formerly LINK SCAN).
Quote of the day
Gold is a great way to preserve wealth, but it’s hard to get around. You need some sort of alternative and Bitcoin does the job. I am not surprised to see this happen.
– Jim Rickards