Bitcoin could not resist the $10,924 level and fell below the 50-day SMA on Tuesday.
Christopher Giancarlo, chairman of the Commodity futures trading commission (CFTC): “I personally think that cryptocurrencies are here to stay. I think there is a future for them. I’m not sure they ever come to rival the dollar or other hard currencies, but there’s a whole section of the world that really is hungry for functioning currencies that they can’t find in their local currencies. There’s 140 countries in the world, every one of them has a currency. Probably two-thirds are not worth the polymer or the paper they’re written on, and those parts of the world rely on hard currencies. Bitcoin [or another] cryptocurrency may solve some of the problems.”
On Monday Bitcoin gained a little testing the resistance at $6610 (50-day MA). However, the price did not manage to hold this level on Tuesday and Wednesday and fell down to the support at $6350. Thursday was bullish for BTC/USD as it came back to the resistance at $6574. Up to now, BTC/USD is trading in the red zone. The support is at $6350. In case of positive news, the resistance is at $6574. The next resistance is at $6610.
- More opportunities: Large American broker TD Ameritrade is planning to start trading of crypto futures using the ErisX platform.
- Wall Street Journal keeps bringing “sensations”. Journalist from Wall Street Journal launched the WSJ Coin token to research cryptocurrencies. However, the editorial stuff changed its mind and closed this project.
- Crypto trading platform Poloniex will deprive users from the US of marginal trading to please the regulators. This is what happens to cryptoplatform when it’s bought by Goldman Sachs owned company ;)
- Economic giants are giants everywhere: Analysts from Bank of America forecasted the blockchain technologies market to reach 7 billion dollars. Amazon, Microsoft and Oracle are expected to earn the most part of it.
- Research from Bloomberg: Institutional investors prefer using over-the-counter trading platforms and their presence on cryptomarket is more significant, than it seems.
- British startup London Block Exchange will launch a stable coin connected to the course of the British pound. It seems like every company is going to have its own digital currency soon.
- Experts from ICO rating analyzed the most successful crypto trading platforms and made a conclusion that 54% of them have a problem with crypto protection.
Bitcoin $6,574.0 (-0.64%)
DASH $180.62 (-0.76%)
Ethereum $221.25 (+6.51%)
Litecoin: $57.520 (-1.35%)
Finally, it happened! Both the Fed Chair and US president commented about cryptocurrencies yesterday. However, in a different way (such a surprise).
The overheated market has started to calm down since the beginning of the week. What are the levels?
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.