Bitcoin Price Analysis: The Capacity of Crypto Lightning Network is Increasing to 1500 BTC

In addition, the chart also has a bearish engulfing candlestick pattern, showing a bearish reversal with a high reliability.

The exponential moving average composed of 200-EMA serves as an uninterrupted support for asset price changes.

The stochastic indicator RSI with K-53 D-65 value indicates a sell signal for the currency.

The Lightning Network, Bitcoin’s layer 2 solution for fast and cheap transactions, has crossed the 1,500 BTC capacity milestone.

Now, the network has achieved an important milestone by hosting more than 1,500 BTC on its channels.

This means that it has soared by nearly 50% in less than six months after spending significantly more than 1,000 bitcoins in three years.

In recent weeks, as the government of El Salvador has made Bitcoin a legal tender, the exposure of Lightning Network has increased.

Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market.

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