Market updates on July 16
Welcome to Tuesday!
Weekly Cryptonews
Brian Kelly, CNBC analyst: “Probably in 2019 the focus will be on currencies — Bitcoin, Litecoin, some of those — because we have quite a bit of geopolitical tension in the world. We are starting to see some global macro players use Bitcoin as an alternative to their gold position, or as a way to hedge against fiat currency fluctuations and volatility."
Bitcoin’s volatility has been fading since the middle of the week. The sharp fall on Monday was stopped by the support at $3,773 near the 100-day SMA. After that, bulls managed to push the price up, where they faced the resistance at $3,982. If their attempts to break this level are successful, the next resistance will lie at $4,060. Otherwise, the grandfather of cryptocurrencies will fall to the first support at $3,898. The next support lies at $3,773. As about indicators, parabolic SAR shows a downward movement for Bitcoin, and ADX shows bulls trying to take over the market.
Important updates:
- Great opportunity to trade Litecoin: Litecoin developers introduced a new possible update Litecoin v0.17.1 with new functions and better functionality. At the same time, LTC keeps rising and has already overcome the $57 level.
- Switzerland records the first real estate deal on the blockchain
Regulations:
- French authorities announced their plan to ban the anonymous cryptocurrencies. But do they know how to do it?
- Germany’s government plans to develop a blockchain strategy for the country. It will introduce a strategy in the middle of 2019.
New announces:
- SWIFT tests a new blockchain system for votes of shareholders together with Deutsche Bank, DBS, HSBC, Standart Chartered bank and Singapore stock exchange.
- The leading Swiss stock exchange SIX Swiss Exchange will use Corda blockchain platform for developing R3.
- Opera will add Ethereum wallet into its new browser for iOS.
- The Mercury FX payment service conducted its first international transaction using xRapid.
- Mining giant Bitmain is going to launch 100 thousand of new ASICs in Chinese province Sichuan.
- Ernst&Young audit company announced to launch an instrument for taxation of crypto operations for private and institutional investors.
- Facebook is going to launch its coin in the first half of 2019.
Current prices (last update 13:16 MT time)
Bitcoin $4,014
DASH $85.39
Ethereum $140.16
Litecoin: $58.05
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