Cryptocurrencies are preparing for the financial system of the future

US stock markets closed mixed on Friday after trading for half a day due to the Thanksgiving holiday. It has been reported that consumers, whose purchasing power has decreased due to inflation in the USA, spend at a record level on the Internet in Black Friday discounts. The DXY index, which shows the value of the US dollar against other developed country currencies, increased. 

Germany, the largest economy in the Eurozone, grew by 1.2% on an annual basis in the third quarter of the year, above expectations. With the number of cases reaching record levels in China, protests against quarantine and restrictions began as part of the "zero Covid" policy. Bitcoin price dropped to $16,000 after Asian Financial Markets started the day with a -3.50% drop.

Cryptocurrencies are preparing for the financial system of the future

Bitcoin, which had a very low volume, continued its horizontal course at the weekend, and saw the levels of $ 16,000 with the opening of the Asian markets by -3.50% in the morning. Trying to return to its former position at noon, Bitcoin is priced at $ 16,200. When the 4-hour chart is examined, for Bitcoin, which is moving within the falling channel.

In the continuation of the downward movement, the first support level is the middle band of the channel, $ 15,900. If Bitcoin fails to hold on to these levels, the previous low ($15,500) can be tested for the 3rd time. The next critical support is the lower band of the channel at $15,200. In the upward movement, it will be important to exceed the upper band of the $16,600 channel.

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