Crypto Update: 21% of U.S Students with Government Loans Betting on Cryptocurrencies, Bitcoin is at a Critical Point

Cryptocurrencies have remained under pressure today as a lack of speculative buyers continues to create a downtrend. 

Speculative Trading by U.S Students a Concern

A recent survey among university students in the U.S shows that approximately twenty-one percent of the students who receive government loans to pay for their studies have used some of this money to speculate in cryptocurrencies. While the students certainly could profit from such an endeavor, it could also put them into more debt should the investments falter. The broad cryptocurrency market has remained under pressure the past day.

Dangerous Depths for Bitcoin, Critical Support Juncture in View

Bitcoin is within dangerous depths as it continues to be assaulted by a lack of speculative buyers. Bitcoin is near 7500.00 U.S Dollars per coin and its struggles this week have taken it within the vicinity of lows tested in early February. Critical support for Bitcoin is around 6600.00 U.S Dollars and should that juncture fail to produce an upward surge of buying, the 5700.00 level could then become a focal point. And for speculators with the courage to buy, resistance appears prevalent around 8900.00 U.S Dollars for Bitcoin.

Crypto Trading Will Continue Throughout the Good Friday Holiday Globally

As most European and North American banks and equity exchanges close tomorrow for the Good Friday holiday, this will not deter the trading of cryptocurrencies which will remain open. Digital assets trade in most circumstances around the clock, and speculators are active in many places seven days a week. As forex markets grow quiet tomorrow, digital assets will continue to battle storm clouds which have battered the value for most cryptocurrencies the past two and a half months.

Amsterdam Blockchain Event Tomorrow

Blockchain, cryptocurrency and start-up investors will gather in Amsterdam tomorrow for the BlockShow Meetups.

• March 29th, Netherlands, BlockShow Meetups Amsterdam

Yaron Mazor is a senior analyst at SuperTraderTV.

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