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Old 17-08-2018, 12:59
MikhailLF MikhailLF is offline
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Join Date: Sep 2017
Posts: 823
Default Re: Forex News Analysis by LiteForex

LiteForex analitics. Cryptocurrency Market Review

This week, the cryptocurrency market had mixed dynamics. The decline in the beginning of the week was replaced by a corrective growth, as a result of which a significant part of losses was won back. Bitcoin is currently trading around 6500.00, Ethereum – at 300.00, Ripple – at 0.2930, Bitcoin Cash – at 535.00, and Litecoin – at 56.50.

The total capitalization of the market this week continued to decline and decreased from 214 to 203 billion dollars. At the same time, the share of altcoins volume in the market is decreasing, and the share of bitcoin has increased from 51% to 53%. It becomes clear that some investors are leaving the market, and some are switching to Bitcoin, hoping for a positive decision by the SEC to register ETF funds in September.

As for the news of the market, the European Union intends to introduce new ICO rules, which will be implemented through crowd-funding platforms. This is stated in the documents published by the European Parliament's Committee on Economic and Monetary Affairs. It is planned that the organizers of the new ICO, if they expect to collect more than 8 million euros, should work within the framework of European securities legislation. Thus, new ICO products can be equated with the EU in securities. This position is close to the position of the US SEC, whose members also tend to believe that most of the cryptocurrencies are qualitatively securities.

This week it became known that the Jamaican stock exchange intends to offer its clients cryptocurrencies as trading assets by the end of this year, for which the appropriate platform is being developed. And the Securities and Exchange Commission of Thailand officially authorized the work of five crypto-exchanges and two dealers in the country. In addition, the transfer of large digital companies to Malta continues, the legislation of which is currently the friendliest with respect to cryptocurrencies. Following the major exchanges Binance and OKEx, ZB.com, the fifth largest digital exchange in the world, opened its office on the island. The company expects to launch a new platform and exchange cryptocurrency for fiat money.

In general, the continuation of the upward correction may continue next week, but the medium-term downtrend is likely to continue.
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