Market updates on August 19
There were no major moves during the Asian trading session, however we have some events today, which may affect the sentiment in the market.
Bitcoin heads north above $3,500
On Tuesday, crypto assets managed to leap due to the fact that Bitcoin inched up to $3,500, still demonstrating an enormous gap between last year’s mind-blowing reading of $20,000.
Eventually, Bitcoin shot up by up to 3.5% demonstrating $3,539.60 on the Investing.com Index.
Bitcoin is still down almost 75% since its all-time maximum of 2017. Crypto assets have slumped drastically for recent weeks because investors are concerned about increased regulatory scrutiny as well as volatility.
In general, digital coins surged. The overall cryptocurrency market capitalization amounted to $112 billion at the time of writing, versus Monday’s outcome of $108 billion.
Besides this, Ethereum managed to gain about 5% ending up with $94.66. Litecoin was worth $29.20, jumping by up to 3.9%. Additionally, XRP ascended by up to 12% trading at $0.33607.
Notwithstanding a long-term dive in crypto assets, blockchain is still thriving. Accordingly, job opportunities in the sector keep booming. Compared with 2017, up to 33% more jobs have been posted this year.
As the report states, it’s no wonder that we’re observing an explosion of machine learning roles as well as continuing surge of data science roles. There’s nothing surprising in the fact that Blockchain Developer is topping the list after this year’s leap in interest around blockchain and digital coins.
Meanwhile, China is working on its own crypto asset. Since 2016, China’s main financial institution has officially registered up to 78 virtual currency patents, as Bloomberg informed. The major bank of this Asian country has also been hiring economists and developers for its Digital Currency Institute that was established to issue a blockchain-based asset. The Chinese cabinet is also eager to not only monitor transactions of its citizens, but it also makes financial institutions share data on their borrowers before authorizing any transactions.
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Market updates on June 18
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.
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