The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Bitcoin tries $8,000
On Tuesday, Bitcoin managed to rally more than 10% testing $8,000 in Asia, while other key crypto assets also demonstrated substantial profits against the backdrop of bullish sentiment.
As a matter of fact, Bitcoin rallied by up to 11.45% ending up with $7,949.9. On Tuesday, the number one crypto asset managed to overleap the crucial mark of $8,000 twice. For the last week, Bitcoin has ascended about 34.62%, thus demonstrating its most impressive upward momentum in 2019.
Eventually, Ethereum went up by up to 8.46% ending up with $210.22. Additionally, XRP jumped by up to 11.53% hitting $0.37254, while Litecoinadded surged by nearly 5.30% showing $91.61.
The overall market capitalization ascended to $234.4 billion in contrast with last Friday’s reading of $190.4 billion.
The US Securities and Exchange Commission’s Advisor for Digital Assets and Innovation, Valerie Szczepanik came into the limelight among the cryptocurrency traders with her statement on initial exchange offering.
She added that there could be regulatory barriers for platforms seeking to list IEO tokens for a fee as they’ll probably be engaging in the broker-dealer activity. She stressed that they might face troubles in the United States if they lack registration.
In addition to this, Germany is about to come up with blockchain bond regulations enabling bonds to be issued as crypto tokens on a blockchain. That’s what local daily business news outlet Handelsblatt has recently uncovered.
Besides this, crypto exchange Binance is on the verge of resuming deposits as well as withdrawals on Tuesday having suffered a hack the previous week.
On May 7, the company Binance lost up to 7,070 Bitcoins from its hot wallets that were worth more than $40 million.
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The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!
The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.