The market takes breath after the long rally. What opportunities do traders have today?
Michael Novogratz, the founder of Galaxy Digital: "We have gone from, you know, crypto as an experiment, is it real? Is it tulips? Crypto is going to be a substantial part of the financial and consumer infrastructure of the world."
Bulls finally gave up their positions. The price for Bitcoin bounced from the resistance at $8,900 and started to fall down. Despite yesterday's bullish surge, which helped them to test the $9,075 level, bears came out to be stronger. At the moment, the price for the oldest crypto is testing the support at $7,970. The next support lies at $7,660. If bulls make attempt to push Bitcoin's price higher once again, they will reach the resistance at $8,500. The next key level is placed at $8,733.
· Zcash developers released Zepio crypto wallet with anonymous transactions.
· Yahoo-backed exchange platform Taotao was launched in Japan.
· EOS is expected to make a big announcement on June 1. Get ready for volatility.
· Tron revealed new BitTorrent file system.
· Authorities of Egypt plan to lift the ban on crypto and allow licensed crypto companies to work in the country.
· Chinese Wei Liu claimed to be the founder of Bitcoin. This is the second attempt to get copyright registration for the Satoshi Nakamoto’s invention. The first one belongs to Craig Wright.
· The price of Bitcoin SV pumped and dumped after scammers claimed its creator is actually Satoshi Nakamoto.
Current prices (last update 6:40 MT time):
Bitcoin – $8,401
DASH - $163.14
Litecoin – $110.11
Ethereum – $260.10
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.