The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
Jay Clayton, the head of SEC: “I believe that ICOs can be effective ways for entrepreneurs and others to raise capital. However, the novel technological nature of an ICO does not change the fundamental point that, when a security is being offered, our securities laws must be followed.”
During this week, Bitcoin has been trading with a very low volatility. Despite the positive momentum on Wednesday, the oldest cryptocurrency failed to continue rising and fell to the last week’s lows at $3,344 on Thursday. Speaking of the technical side, RSI is placed near the oversold zone, while MACD moves parallel to its signal line. Both of the indicators do not signal the reversal. The parabolic SAR forms a line of dots above the chart. That means that the downtrend for the crypto asset continues. If bulls take control over the situation, Bitcoin will rise towards the resistance at $3,750. If more uncertainties in the market appear, the digital currency will move down to the support at $2,970.
In other news:
- December was the most unsuccessful month for ICOs – the public offerings gathered only 65 million dollars.
- According to Diar agency, the total value of the transactions with “new” stablecoins such as USDC, TUSD, GUSD, and PAX reached about 2.5 billion dollars.
- Hackers made 27 attacks on the decentralized applications in the EOS blockchain and stole 400 thousand coins (730 thousand dollars) on Tuesday.
- The US Securities and exchange commission postponed its decision on Bitcoin ETF from the VanEck and SolidX companies until February 27. This date is a final deadline for this decision.
- Also for the news from SEC, it made the founders of the AriseBank project to pay $2.7 million and step down from executive positions in public companies.
- The US Commodity futures trading commission started a public discussion about technologies and Ethereum.
- The Abu-Dabi national oil company ADNOC and IBM will create a blockchain system for monitoring the supply of raw materials.
- MasterCard wants to patent the anonymous blockchain transactions. Is that even possible?
- Keep an eye on trading Ethereum: The developers set the date for the Constantinople update in its general chain. The hardfork will be made around January 14-18.
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates…
In April, American import prices surged less than anticipated in April due to the fact that jumps in the cost of food and petroleum were tamed by the largest tumble in the price of capital goods for a decade, dropping a hint at the fact that inflation…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.