Market update on June 18
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.
Weekly Crypto News
Wikipedia Creator Jimmy Wales: “Right now, we are in a bubble. The crypto world is absolutely, definitely in a bubble. I don’t think there are many people who would deny that”.
Source: 3777190317 / Shutterstock.com
Cryptocurrencies
- Bitcoin managed to rebound from the psychological level of $7,000. Up to date, the cryptocurrency is trading above $7,400. The next aim to break is $7,600 (100-hour MA). 50-day MA is to cross the 100-day MA bottom-up. It’s a positive signal for Bitcoin. The support still lies at $7,000.
- Hackers attacked Canadian leading banks “Bank of Montreal” and “Simplii Financial”. They requested $1 million in cryptocurrency for not publishing personal data of banks’ clients.
- John McAfee plans to release his own crypto-backed fiat currency, the McAfee Redemption Unit (MRU), on June 25.
Regulation
- The National Committee for the standardization of the blockchain will start working this year in China.
- President of the People's Republic of China Xi Jinping said that Chinese authorities will support a development of blockchain.
- South Korea’s National Assembly officially proposed lifting an ICO ban. Also, the Assembly offered to create legislation for cryptocurrency trading and let conduct ICO through a standing committee of the National Assembly.
- The Supreme Court of South Korea created a legal precedent, recognizing cryptocurrency as an asset that can be confiscated by a court decision.
- A ban on anonymous cryptocurrencies will be in force since the next month in Japan. It’s worth saying that local regulators are tightening a regulation of the cryptocurrency industry.
Cryptocurrency exchanges
- Clients of the cryptocurrency exchange Poloniex have to provide their personal data to conduct transactions with cryptocurrencies.
- The cryptocurrency exchange Bithumb blocked accounts of clients from 11 countries. They are North Korea, Iran, Iraq, Syria, Sri Lanka, Tunisia, Yemen, Vanuatu, Bosnia and Herzegovina, Ethiopia and Trinidad and Tobago. These countries don’t have a proper regulation on terrorism and laundering of money.
Blockchain
- A number of Lightning channels in the bitcoin network exceeded 7,000. Analysts are sure that Lightning Network can provide a revolution in the cryptocurrency industry. The bandwidth of bitcoin may surpass large payment systems, such as, for example, Visa.
- China continues to implement blockchain into different services. For example, Baidu Baike (Chinese Wikipedia) implemented blockchain to record the revision history of articles. Earlier Baidu launched a blockchain service for stock pictures.
Bitcoin $7,574 (+0.22%)
DASH $310.01 (+0.38%)
Ethereum $587 (+2.52%)
Litecoin $120.31 (+0.48%)
Similar
5 important events this week will bring us!
This week will bring us several bank's statements and more...
Heads up to the FOMC statement
The Federal Open Market Committee will make its statement and announce the official rate on June 19, at 21:00 MT time.
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold sinks on soaring greenback
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
Deposit with your local payment systems
