Risk aversion dominates in the financial markets as the resurgent of coronavirus cases may slow global growth. Thus, safe-haven currencies are rising such as the CHF, the JPY, the USD, and riskier assets and commodity-linked currencies (the CAD and the AUD) are weakening.
John Mccaffee, crypto enthusiast, investor: “Stay true, stay the course and hold. There is no such thing as a wealthy short-term investor.” (Mccaffee can't be wrong, can he?))
Monday was unfortunate for Bitcoin, as the cryptocurrency was trading lower its last week’s levels. The capitalization immediately dropped lower $200 million. Some people see the reason in the technical glitch at Tether (USDT). Wednesday was also quite eventful, as the Japanese crypto trading platform Zaif was hacked. Hackers stole around $60 million of crypto. As a result, Bitcoin experienced a massive sellout, although it could manage to stabilize with the help of 5 mln XBT/USD contracts bought at $6,469 on BitMEX. Right now the digital currency crossed the 50-day MA at $6,614 and 100-day MA at $6,666 and moving towards the resistance at $6,812. The next resistance will be at $7,137. If the market turns bearish, the support to watch is at $6,550.
In other news:
- The US Securities and exchange commission (SEC) postponed its final decision concerning the trading of Bitcoin exchange-traded funds (ETF) again as they did not reach any conclusion on the issue. Right now they are looking for more feedback on market manipulations’ topic.
- The Bancor platform developers announced their plans to adjust trading on EOS blockchain. The project is planning to work in two networks simultaneously.
- Attorney general of the state of New York made a conclusion, that crypto platforms can be easily affected by market manipulations. The most suspicious among them are Binance, Gate[.]io and Kraken. They rejected to negotiate with the attorney.
- Binance CEO Changpeng Zhao told, that there was a successful testing of a cryptocurrency platform which supports fiat in Singapore. Now Binance is planning to open two of these platforms on each continent.
- Last report from the Europol contain an information that none of terroristic attacks was financed by cryptocurrencies. However, the organization is afraid, that criminals can soon start using smart-contracts.
- 15 international organizations cooperate on launching the blockchain Etherum based platform komgo SA for digitalization the trading of raw materials.
Bitcoin: $6,700.9 (+4.79%)
DASH: $205.89 (+7.74%)
Ethereum: $225.98 (+8.45%)
Litecoin: $57.730 (+7.28%)
Cathie Wood’s Ark Invest filed for the creation of a Bitcoin ETF. Apple and Amazon jumped and airlines and cruise operators dropped as the reflation trade waned.
Elon Musk, Tesla’s founder and CEO, said the company wouldn’t accept Bitcoin as payment any longer. As a result, BTC/USD dropped to $45,300, the low unseen since March.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…