The digital currencies are becoming more popular, and it means that people are willing to invest in cryptocurrencies. It is worth mentioning that with the rise of popularity, questions regarding the crypto market are also increasing. Before moving to the price of Bitcoin and Ethereum on Tuesday, let’s have a look at how the market was developing over the years.
At the moment, the largest cryptocurrency in terms of market capitalization is Bitcoin. The best result in the history of this digital currency was in December 2017; the price nearly reached $20,000.
For the last several years, Bitcoin was unable to replicate the success. However, investing in Bitcoin is a profitable business.
On Tuesday, Bitcoin’s price was $8,222. Bitcoin’s price may reach even better results if it is going to break the resistance above $8,260 and $8,280 levels. The main resistance is above $8,300.
The second-largest cryptocurrency on the market is Ethereum. On October 22, it was struggling to break the resistance above $178 and $180 levels. Two days earlier, Ethereum was able to surpass the resistance above $175 as well as $178. Nevertheless, it could achieve a better result, and the price fell below $175.
On October 22, Etherum’s price was $174.
Open Innovations conference and cryptocurrencies
The annual Open Innovations Forum is an event that attracts representatives from private and governmental organizations. This annual conference is organized under the auspices of the Russian government. Open Innovations conference dates back to 2012, and it provides the opportunity to discuss various topics such as startups, etc.
This three-day forum started on October 21 and the last day of the forum on Wednesday. The CEO of Binance, Changpeng Zhao, also attended the annual Open Innovations conference in Moscow, Russian Federation.
He stated that fiat options would become available soon. Changpeng Zhao also said that Russian ruble would become the first fiat currency to receive support. In about two weeks, customers will be able to start trading according to the CEO of Binance.