AUD in focus of traders
The Australian unemployment rate will be released on August 13 at 4:30 MT time!
Weekly CryptoNews
BitMEX CEO Arthur Hayes: “Contrary to popular belief, Bitcoin requires volatility if it is ever to gain mainstream adoption. The price of Bitcoin is the best and most transparent way to communicate the health of the ecosystem. It advertises to the world that something is happening–whether that is positive or negative is irrelevant.”
The week started bullish for Bitcoin. On Wednesday, the price crossed the resistance at 50-day MA at $6,516 and afterward tested the next psychological resistance at $6,563. However, it failed to continue moving towards $6,662 and bounced back below $6,516. Despite the market speculations, the volatility of the digital asset remains extremely low. ATR is situated at its lowest levels. If buyers take over, it can push the price towards $6,516 again. In case of a bear market, the support lies at the pivot point at $6,400.
Other news:
Regulations:
- The People's Bank of China is planning to ban airdrop as it can be used for conducting hidden ICOs.
- Taiwanese financial regulator banned anonymous crypto transactions and obliged trading platforms to pass personal data of clients to it.
- The Swiss financial market supervisory authority advised banks to set the risk coefficient for crypto assets at 800% to cover market and credit risks, regardless of whether the positions are held in the banking or trading book.
- Tax regulating department of Thailand is planning to use blockchain for following the tax evasions.
- Government banks of Venezuela started to show the sum on clients’ accounts in Petro cryptocurrency.
- The Brazilian prosecutor's office started the investigation of the money-laundering through Deltec Bank which is Tether partner.
- The BBVA bank from Spain gave the first credit with financial data recorded in blockchain Ethereum. The approximate sum of the loan is $150 million.
- The French government will make the taxation for crypto asset owners easier. The tax will reduce from 36% to 30%.
New releases:
- OKEx launched margin trading of XRP/BTC and LTC/BTC. As a result, Ripple rose and outperformed Ethereum, while Litecoin ignored the news.
- It’s now possible to buy Litecoin for the fiat currencies at Litecoin.com.
Events to trade on BTC, Ethereum, Litecoin and Dash in the upcoming week:
November 12 - Bitcoin (BTC) - Bakkt Bitcoin BTC Futures Launch
November 15 - Bitcoin Cash (BCH) - Hard Fork
Bitcoin $6,406.8(+0.57%)
DASH $168.1 (-5.9%)
Ethereum $200.35 (+0.89%)
Litecoin: $50.5 (+1.90%)
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The US dollar edged higher, while gold dipped down. Let’s discuss main news and market movements in detail.
Main market movements on August 11
The market sentiment improved after the USA reported some decreasing in coronavirus hospitalizations. Gold dropped below $2 000 and the US dollar dipped down, while stocks surged. Let’s have a closer look.
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Eyes on US retail sales
Follow the report on August 14 at 15:30 MT time!
Main market movements on August 13
The market sentiment switched to risk-on. The US dollar is dipping down, while riskier assets are rising, especially the Australian dollar after the positive employment data. All eyes on US unemployment claims.
Tesla announced a stock split
Everyone is talking about a stock split of Tesla. What is it?
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