TikTok Ban May Save and Boost BTC Price

Judy Rubio

Sometimes we cannot fully understand and reasonably explain some certain behaviors and actions that our leaders take to make major changes in the life of the entire country. President Donald Trump has recently found it necessary to ban TikTok.

However, what has just happened may force approximately eighty million people to flock to the top-ranked crypto – that’s what many participants regard as a great event and a true blessing for the crypto’s price. This is also what the whole of the crypto industry has been looking forward to for so long.

On Saturday, some of the leading altcoins participated in the rally to their annual highs. Participants saw ETH surge over four hundred USD. Some news agencies mentioned that this scenario is very probable and, as we can now see, their predictions came true.

Additionally, XRP had an exciting day exceeding 0.32 USD – this asset momentarily managed to outperform BTC. This change was also foreseen in a whole series of articles and reviews. Nevertheless, BTC demonstrated its dominance in the market by flushing out a few billion of gains in less than an hour.

Now crypto market analysts are willing to find out what the upcoming week will look like. They are also excited to analyze how the President’s ban of TikTok will influence the crypto community.

Specialists keep doing research and studying the matter from different angles. They encourage us all to get some perspective by presenting their data and statistics.

The crypto, as we can see from the graph, shows an image of the future and we see that it has already tested the retracement level of twelve thousand USD before it was rejected. Participants who have been ignoring this weekly data should definitely learn to use this instrument as soon as possible because the recent data will give them a much clearer picture of the current situation. The next level sits at thirteen thousand five hundred USD and some users may feel happy with twenty-percent gains on the crypto.

Analyst Teach Participants Use Tools

However, if they look at other leading altcoins, they will notice that many are trying to trade under the 0.236 fib. This means that the market may see a more visible upside potential and this weekend proved these expectations. ETH is another asset that deserves special research and analysis.

As we saw, the mentioned asset exploded by eighty percent and already made a run. Remember the fib of Bitcoin now and compare it to that of ETH. If the level is broken, then ETH will reach 0.382 which is actually six hundred and sixty USD.

Experts expect more movements and consider the figure just a start for a greater change. Even though levels have been just hit, many specialists would not be shocked if those same levels approached again six hundred and sixty USD. XRP is also of great interest to professionals who are correlating all assets.

This asset rallied rather hard. It briefly broke out yet this crypto still has a long way to approach the 0.236 fib. Moreover, its move of one hundred and eighty-eight percent is huge. Those who missed BTC and other currencies can hope to get a great chance to see how this third-largest asset will provide massive gains from its current position.