Bitcoin, Ethereum and Axie Infinity – European Wrap 12 January

Bitcoin price is showing signs of bottoming and starting a new uptrend. Although BTC is getting rejected at a supply zone, this development will be followed by a massive spike that propels the market value of the big crypto. Ethereum and Ripple also look positioned for a bullish onslaught.

On-chain activity and utility of Ethereum layer-1 scaling solutions may be negatively impacted by the launch of ETH2.0. The implementation of sharding and proof-of-stake consensus mechanism could make layer-1 scaling solutions irrelevant. 

 

Axie Infinity price slid below a crucial higher time frame support level, leading to a steep correction. This downswing seems to have come to an end as AXS bounces off another significant level, kick-starting a massive run-up.

 

AXS/USDT 4-hour chart

 

 

 

 


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