Every week we expect many interesting events that can shake the market.
Tim Draper, investor: the world currency market will rise to $140 trillion in 10 years. The rise will be supported by cryptocurrencies. The fiat money will be used less, digital currencies will prevail in the world financial market.
Marc Lasry, billionaire, the head of Avenue Capital Group: everyone will come to Bitcoin. That’s why I like it.
- This week Bitcoin has reached the highest level since the end of May. The cryptocurrency tested the level of $8,336. However, it didn’t get enough support to stick at it. Up to now, Bitcoin has been moving down to the psychological level at $7,500. 100-day MA lies at this level. As a result, there are odds of the rebound. The resistance will lie near $8,340. If there is negative news in the cryptocurrency world, the digital currency will break the support and will move to $7,000.
- Users of the MyEtherWallet can buy ЕТН for fiat money. For buying, they can use Visa or MasterCard.
- The American company “Тhe Entrepreneurs Headquarters” stole investors’ $500 000. CFTC has amerced the company for $2 million. Moreover, The Entrepreneurs Headquarters has to compensate all losses for investors.
- Individual users of Bittrex can withdraw the fiat USD. However, the users have to be from California, Washington, New York or Montana.
- A new Voyager platform will be launched in the US. The platform will serve operations without commissions. In the beginning, users will be able to trade 15 cryptocurrencies including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic. Later, the company will add other assets that are not provided at most major American platforms including XRP and Stellar.
- G20 countries will make a regulation against money laundering with cryptocurrencies. Although countries don’t consider cryptocurrencies as a risk for the world the financial stability, the regulation should be implemented.
- Venezuela wants to replace the national currency with a new one that will be tied to the national cryptocurrency El Petro to lower the hyperinflation. The denomination will start on August 20.
- Iran plans to launch the national cryptocurrency to circumvent American sanctions. The Central Bank plans to implement the blockchain technology in 3 months.
- To circumvent national cryptocurrency banning, Chinese bitcoin-millionaires buy American real estates.
- A new payment system of the Bank of England that will be launched in 2020 will be compatible with blockchain. Before the Central Bank planned to use the blockchain in the gross settlement system but refused this idea.
Just for fun
- The first purchase with Bitcoin that was registered by blockchain happened in California.
- Users of the blockchain platform Augur bet on crimes, death and etc. Users have already bet on the date of death of Warren Buffet and Donald Trump’s murder.
Bitcoin $7,933.9 (-3.95%)
DASH $240.00 (-3.26%)
Ethereum $461.83 (-3.54%)
Litecoin $82.524 (-5.59%)
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Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.