By Future Blockchain
BTC managed to hold the line and stays confident above 8k, trading in the $8100-$8200 range since Friday (except for a 3h drop in price yesterday afternoon, from which the market recovered pretty fast). Bitcoin is up 5% for the week despite negative news around the SEC decision not to approve Winklevoss twins’ bitcoin ETF. The news were absorbed very well by the largest cryptocurrency and it continues to be the strongest mover from the top 10 coins.
We are still in consolidation phase which will be followed by an attack towards $8400 line in the short term, then $8600 and eventually $9000 which is a strong resistance and psychological level.
Now this is the ETH/USD daily chart on BITFINEX (29.07). We are currently at $462 and if declines continues this means more headaches for all the alts. There is a critical support between $412 and $417 and if broken, next stop will be strong support at $360.
ETH continuing its decline, now at $447 (as out 10:30 CET time on Tuesday). Ether is already in red for the past 7 days and also for the last 14 (-0.1% and -6.5% respectively)
We will monitor the situation, but recent price movements suggest further correction in price. Let’s just hope we do not break the $412 support line.
Top 20 coins are all in red and looks like alt season will be once again postponed until a later date.
Nasdaq held a secret meeting with bitcoin exchanges to discuss future of the cryptocurrency market and possible regulations. The apparent purpose of the meeting was to help legitimize cryptocurrency investments in the eyes of US regulators and big banks by reducing users’ anonymity and privacy.
The main topic discussed was how to
encourage the industry to do things that will improve its image and validate its potential role in global markets.
Kickico project ICO suffered a security breach. Coins worth $7.7M (70,000,000 KICK ) were stolen during the hack. Providing more details about the attack, the company explains that the hackers gained access to the private key of the owner of the Kickcoin smart contract.
75% of US Investors with more than $10,000 in stocks, bonds and mutual funds think Bitcoin Is 'very Risky’ investment according to recent Gallup poll.
While 75 percent considered bitcoin to be "very risky," less than 0.5 percent (or less than 10 people surveyed) thought bitcoin was "not risky at all." Only 2 percent thought bitcoin was "not too risky," with the remaining 23 percent thinking of bitcoin as being at least "somewhat risky.
Michael Novogratz’s Galaxy Digital will start trading on the Toronto's TSX Venture Exchange on August 1. The cryptocurrencies investment bank received approval from Canadian regulators.
Asked about recent BTC price movements Novogratz replied he thinks we already hit the bottom, but he doesn't
...think we will get through $10,000 until we get custody solutions announced implemented by trusted names.>
Future Blockchain
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