Weekly Cryptonews

Weekly Cryptonews

Ric Edelman, finance expert, the founder of Edelman Financial Engines: "The [Securities and Exchange Commission] SEC has several legitimate thoughtful concerns that the industry has to overcome but I'm confident they will. Eventually, we will see a Bitcoin ETF and it's at that stage that I will be much more comfortable recommending that ordinary investors participate."

Will we finally see any price action for Bitcoin? On the daily chart, the price for the digital asset has been capped by the 50-day MA at $3,715 and volatility has been dying out since the beginning of the week.    

BitcoinDaily.png

 On H4, despite the high spike at the beginning of Monday, the grandfather of cryptocurrencies fell back within the $3,650-$3,704 range. From the technical side, the price formed the “Flag” pattern, which is characterized by a bullish rise on February 8-9 followed by the consolidation phase. This pattern may signal the rise if its upper border is broken.  But remember that cryptocurrencies may play tricks on you, so wait for further confirmations and don’t forget about stop losses!

For now, the closest resistance for Bitcoin lies at $3,677. If it’s broken, the next resistance is placed at $3,704. If bears are stronger, the price for Bitcoin will fall towards the support at $3,650. The break of this level will pull the crypto asset lower to the support at $3,621.

 BitcoinH3rr4.png

Important updates:

  • The first Bitcoin transaction through the short-wave radio was made this week. This method helps to operate Bitcoin without the Internet connection.
  • The US Security and exchange commission requested Reality Shares to withdraw its partial-Bitcoin exchange-traded fund proposal. There have been no positive updates from the SEC yet.
  • Another bug was found in the Constantinople update for Ethereum. The second attempt of the update is expected to begin on Thursday, February 28.

 

New announces:

  • Crypto market welcomes institutional investors: Morgan Creek Capital invested $40 million to open a new crypto fund. The main investors are American public pension funds.
  • Japanese financial holding Mitsubishi UFJ Financial Group is developing a new blockchain payment platform and plans to launch it at the beginning of 2020.
  • The leading US investment bank JPMorgan Chase created its own cryptocurrency JPM Coin. This is a stable coin backed by the USD. The bank plans to use it for international transactions.
  • Nasdaq exchange fund adds a new Bitcoin (BLX) and Ethereum (ELX) indices to their trading services.

Bitcoin $3,704

DASH $81.93

Ethereum $125.34

Litecoin: $43.33

Similar

Latest news

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera