Here we gathered the best and the worst performers of the week and the most volatile pairs .
Charlie Lee, creator of Litecoin:
“Crypto’s really risky. I've seen many bear markets or crashes that are 90% down … when the price does crash, it shakes off all the weak hands. So, my point was that if you can't withstand a 90% drop, then don't buy-in, because it's too risky for you."
After the test of the $13,130 level on Wednesday, the price for BTC dropped to the support at $11,000. If the price for the digital currency gets more pressure from the downside, the retest of the $11,000 level (lower border of the symmetrical triangle) will be possible. In that case, the next support will lie at $10,560. The break of this level will increase the possibility of the test of the 38.2% Fibo at $10,020. If the price for the oldest crypto gets bullish momentum, it will rise to the resistance at $12,030, after that the resistance will lie at $12,370. If bulls manage to overcome these resistance levels, the test of the $12,770 level will be inevitable.
· This week was remarkable for the comments by the US officials on crypto. At first, the Federal Reserve Chair Jerome Powell called Bitcoin a store of value, like gold. After that, US President Donald Trump tweeted that cryptocurrencies are not money and their value is based on thin air. According to his words, the only currency in the USA is USD.
· US Security and exchange commission (SEC) allowed conducting the first ICO to the Blockstack project.
· Turkish central bank plans to make its own cryptocurrency. It seems like the policymakers gave up on the Turkish lira, doesn’t it?
· Authorities of Iran age going to legalize mining.
· US tax regulator promised to develop new methods to deal with the tax fraud.
· Goldman Sachs opened its own crypto department and now is ready to compete with JP Morgan.
· The news about the search in the TRON office turned out to be fake.
Current prices (last update 15:16 MT time):
The European Central Bank will meet today to discuss the current monetary policy and the fate of the quantitative easing program
Canada will publish the headline and core retail sales on January 24 at 15:30 MT time.
Canada will publish its monthly GDP growth rate at 15:30 MT on January 31.
The famous pharma giant Pfizer is going to release its earnings report on January 28 at 17:00 MT time.
The Bank of England’s interest rate announcement and monetary report will be out at 14:00 MT on January 30.