How crypto is fueling a real estate boom in the United States?

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 13 2024

Should l Buy BTC?

Crypto Wealth Revolutionizes Consumption Habits in the United States
- Research shows that crypto gains primarily feed into real estate, boosting property markets in areas where crypto is popular.
- Every dollar of crypto gains generates about 9 cents in additional spending, twice as significant as stocks but three times less than lottery winnings.
- Spending related to cryptocurrencies is closer to traditional stock investments.
Real Estate, a Favored Haven for “Crypto-Millionaires”
- Contrary to stereotypes, most crypto investors spend on real estate rather than luxury items like cars.
- In 2017, real estate prices increased faster in counties with high concentrations of cryptocurrency holders.
- Every dollar earned in crypto translates into a 15-cent increase in median home prices in the following 3 months.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	36126.697	48063.348	60396.717	72333.368	84666.737	96603.388	108936.757
Fibonacci	48063.348	57334.496	63062.221	72333.368	81604.516	87332.241	96603.388

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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