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Gate.io Blog Gate.io’s Daily Market Trends(June 4th): Gate.io Makes the Forbes List Bitcoin_s sharp Intraday Price rub

Gate.io’s Daily Market Trends(June 4th): Gate.io Makes the Forbes List Bitcoin_s sharp Intraday Price rub

04 June 16:08

As of 12:00 GMT, Bitcoin price closed at $37,884.25 and Ether's price closed at $2,751.33. After 10:00 yesterday, Bitcoin price rose for five straight hourly closes and then adjusted, but still hit the $40,000 mark at 18:00. Today at 9:00, Bitcoin price fell sharply by $777.74. As a result of this sudden drop,Bitcoin priceentered a correction phase before noon. On the one-hour chart, Bitcoin price is showing a clear "M" pattern, with the top around $40,000. If there is no serious dip in Bitcoin price after midday, the market could continue yesterday's recovery trend. However, the $40,000 resistance remains in place. Recently, the intraday trends of Ether and Bitcoin have become more similar, so investors should pay attention to diversify their risk.

Gate.io was selected as one of the best crypto exchanges for 2021 on Forbes Advisor, scoring 4.5 out of 5. The author said, “Gate.io gives users access to a prodigious more than 600 different coins, according to CoinMarketCap.com, making it better for advanced crypto traders on the hunt for less common altcoins.”

Several regulators, including a local branch of the People’s Bank of China in Hainan province issued a warning on illegal crypto activity on Thursday, saying; “No organisation or individual in Hainan Province shall illegally engage in token issuance and financing activities.” Investors should guard against these illegal activities.

Coinbase announced that after the liquidity conditions are met on June 3rd , users can start trading Dogecoin(DOGE) on Coinbase.

Author: Gate.io Researchers: Charles. F & Gazer. C
*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

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