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Kevin Davitt, the analyst at CBOE: "Perhaps we are witnessing the maturation of a market. It's far too early to declare this the "new normal" but the persistent range over the last few weeks may be hinting at a structural shift. Time will tell."
After reaching its September highs last week, Bitcoin is trading in a range-bound market between the resistance at $6,595 and the support at $6,485. The digital currency keeps losing its volatility, as trading cryptocurrencies becomes less chaotic and more professional. Even the news factor did not affect the price for Bitcoin as it used to last year. Thus, the latest speculations around Tether failed to create a long-term market activity. Some analysts even compare the volatility of Bitcoin price to shares of some large corporations, showing how little they change. At the moment, the digital currency is trading near the 50-day MA at $6,522. Unexpected positive events on the market can force the price to rise above the resistance at $6,595 to the next resistance at $6,629. In case of negative factors, the price can fall below $6,485 to the next support at $6419.
In other news:
Tether destroyed 500 million of USDT tokens, still, more than 600 million coins remain outside the market for now. The capitalization of Tether fell below 2 billion dollars for the first time since January.
Regulations:
New releases:
Bitcoin $6,566.8(+0.40%)
DASH $155.05 (-0.55%)
Ethereum $206.75 (+1.19%)
Litecoin: $51.88 (+0.62%)
The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
During the European trading session, both the US and the UK yield curves inverted.
Levels for Wednesday's trading
On Monday, crypto assets tumbled due to the fact that the Organization for Economic Cooperation and Development drew attention to the necessity of the global regulation of initial coin offerings…
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…
In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…
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