Market updates on July 16
Welcome to Tuesday!
WeeklyCryptoNews
Michael Novogratz, investor, billionaire: think how institutional investors work. It’s difficult to come to the boss and say that money is in the place that he doesn’t know about. It will require a reliable and well-known trustee - a Japanese bank, or an organization such as Goldman Sachs, HSBC, or ICE. Only then the institutional investor will feel comfortable.
- On Tuesday, Bitcoin tested highs of the beginning of August near $7,390. Yesterday Bitcoin slid to levels below $6300.
There was news on Wednesday that Goldman Sachs decided to hold back its plans to set up a crypto trading desk. In addition, one of the oldest trading platforms ShapeShift AG said it will begin asking users for personal information. Although this may turn out to be good in future, it currently hurts the sentiment.
Up to now, the cryptocurrency has been trying to recover. However, the trading isn’t extensive. The resistance lies at $6,550. If it’s able to break above this level, the next resistance will lie at $6,780 (100-day MA). If bulls are weak, Bitcoin will fall to $6,300. The next support is at $5,875.
- One of the leading stock exchanges Deutsche Börse announced an opening of the cryptocurrency and blockchain department.
- The leading Japanese bank Mitsubishi UFJ Financial Group has started testing its own cryptocurrency MUFG Coin on the employees. The shop where the employees can pay with MUFG Coin was opened in the main office in Tokyo.
- Abra bitcoin application started cooperating with the European banks. As a result, all residents of the single euro payments area can buy Bitcoin for fiat.
- Financial Services Agency of Japan lifted criteria of the cryptocurrency exchange license. It may be due to the big number of applications for the opening of cryptocurrency exchanges.
- The Colombian President Ivan Duque invited cryptocurrency companies to open representative offices in the country and promised to support the industry.
- The local crypto boom happened in Iran. After the government legalized the mining industry, the price of bitcoin surged to $24,000 on local platforms.
- The Belgian research center Bruegel urged the European Union to create a single standard сryptocurrency regulation. It made a report that is supposed to become a basis for the regulation within the EU. The report will be presented at the meeting of ministers of Economic and Financial Affairs at the end of the week.
Bitcoin $6,483.6 (+0.97%)
DASH $178.91 (+6.52%)
Ethereum $224.91 (-1.47%)
Litecoin $56.779 (+3.53%)
Similar
5 important events this week will bring us!
Find out what is going to move the markets this week
Market updates on July 12
Friday is on!
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold ascends on Brexit jitters
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
Deposit with your local payment systems
