Bitcoin jumps +5.66% after payment processing startup Moon announcement

April 23, 2019 7:09 pm Published by Leave your thoughts

Moon, the payment processing startup, announced yesterday that
any lightning-enabled wallet can now also be used through Moon’s browser extension. This effectively means that you can now spend Bitcoin on huge e-commerce sites like Amazon for example.

Yeah you read that right! You can now shop at Amazon and pay with Bitcoin. You can additionally use Ether, Bitcoin Cash and Litecoin as well.

This is really good news for the crypto community as a whole because this move will drastically help us move forward to mass adoption. Naturally this epic news boosted the price of Bitcoin as it jumped from $5300 to $5600 in a matter of hours. At this rate a move towards $6000 and beyond is more than likely.

I just really liked this meme

The technicals are obviously almost all red flags as the Relative Strength Index is still showing extreme overbought conditions throughout the different time frames. Additionally we have a MACD crossing at 60 on the hourly chart. Then again, when something as huge as the Moon’s announcement happens, Bitcoin usually doesn’t really give too many fucks. It’s likely that once Bitcoin breaks the $6000 barrier, a lot of traders will jump on board as the FOMO kicks in.

You could say Bitcoin is going to Moon soon 🙂

My prognosis?

I’d like to see a small correction towards $5500 before we can aim higher. If you’re a day trader that is.. however if you are in it for the long term (say, 5 to 10 years) then it’s probably best to just go with the Dollar Cost Averaging system and keep putting your useless fiat into Bitcoin at regular intervals. I know that’s what I’m doing!

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This post was written by ynef