📌Bitcoin/Blockchain weekly report (July 2, - July 8, 2018). New interesting and important events on the market
Go to any post that was published this week - use the Calendar.
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The crypto-currency market is an area of the modern economy that can change a lot not in hours, but in minutes. It is possible that this review will help you to remember what interesting events took place this week, and what important occasions/announcements will help you to form a market’s forecasts.
💵Markets & prices
This week in crypto was recognized as “Rising from the Dead” new trend. Despite the fact that at the beginning of the week the bears could still change the game, the bullish rebound happened quite soon. After a long depression, the market turned out to be more loyal for the investors and traders.
There are several reasons for a positive reversal:
A lot of regulatory frameworks from different regions introduced: Japan, Thailand, Korea and more local. Much work has been done in Malta. Europe and the US did not stay behind, although they did not become major newsmakers for this week.
There were no such bad news to turn it back again. Negative trends quickly shifted to blame the projects themselves, not the market. For example, this happened to Tether (USDT) and Kraken (exchange). However, there is still а loosing of India market, which has suspended its work with crypto exchanges.
Signs from the potentially big players, or whales, were perceived positively. Now, stock exchanges, ETF, away-from-crypto companies can slowly become the main financial market participants. For today, there are several such news from Europe.
Past events
[01-02 July]. The moment (formally) when long discussion about Tether’s insecurity started. Many news media have reduced Tether’s (USDT) rating because of abnormal transactions. The attack was protected by the crypto exchange Kraken. This dispute lasted all week. #Tether #USDT
[02 July]. Philippines will give 25 licensesin their economic zone to cryptocurrency exchanges. This is the one of the greatest steps for region to develop local crypto industry.
[02 July]. Analysts confirmed that prices of Graphics cards could drop by 20% because of crypto market slump.
[03 July]. Japanese Financial Services Agency (FSA) considered working with crypto by FIEA protocol, which means crypto exchange in Japan no more will be regulated as payments.
[04 July]. Malta to introduce 3 new laws connected with cryptocurrency. Malta has become the first region who provided legal certainty to crypto market.
[05 July]. The South Korean government can recognize the digital (crypto) currency market as a separate industry and assign crypto currency based companies to regulated financial institutions.
[05 July]. Thailand to introduce the legal framework for regulating the Initial Coin Offerings (ICO). Maybe regulation of ICO can bring more new stable and legal solutions for local market in Thailand.
[06 July]. Big Swiss stock exchange will tokenize its assets and do more work with cryptocurrency.
Upcoming events
Will take place in the near future, this week.
[09 July]. Launching of Mobile Wallet by VeChainThor.
[09 July]. Hack Summit is virtual conference which will be open tomorrow. Fireside chat: co-founder of Ripple, Stellar, MtGox Jed Mccaleb. #conference
[10 July]. EOS vs Ethereum meetup is focused on “How Developing on EOS compares to Ethereum” subject. #community
[10 July]. LOBSTR App Release (Stellar Lumens Wallet) by Lobstr.
[12 July]. World Blockchain Roadshow in Liechtenstein organized only for investors. Event continues in Asia, Europe (other regions).
[13 July]. Ethereum Classic. Ethereum Emerald Hard Fork will take place. Support in Emerald Projects will be opened during July (need more exact details).
To be continued …
Projects and tokens
With the rising of the market, the situation with altcoins has changed. According to the Coinmarketcap, NEO shifted Tether (USDT) and reached 10th place, by hitting the list of the 10 most capitalized crypto currencies. At the end of the Sunday, USDT is now on 10th place, but there will be probably a correction. Tether is on 10th place, NEO is 11, and TRX is now on 12 place.
>NEO<
NEO’s price jumped after decentralizing node on 05/7/2018.
NEO: $39,66 USD (6,72%)
Market Cap: $2 577 893 500 USD
Volume (24h): $145 439 000 USD at the end of the week.
>ETHEREUM<
[07/7/2018]. Ethereum’s leader Vitalik Buterin is against centralization of crypto-exchanges: this time, ETH more like into community and industry, not in develop or market. But still may be important.
ETH: $492,60 USD (4,59%), was about $500
Market Cap: $49 538 150 754 USD
Volume (24h): $1 402 480 000 USD at the end of the week.
[08/7/2018]. Ethereum introduces new secure language Vyper. Vyper is an alternative solution for Solidity (programming language). The developing of ETH continues as it was said earlier.
>BITCOIN<
Of course, at first, everyone was following Bitcoin, because there were no such announcements from 10 major projects, as during the past weeks.
- Interesting: 02/7/2018 news about future local bullish reversal approved in the end of the week.
- But, at 03/7/2018 we started to think about new theory, “Why Bitcoin can't continue its bull run again?”. Found out that BTC’s falling can be connected with futures.
- To be more optimistic, community believes that Bitcoin will hit $100,000, but maybe after another bearish reversal or so (06/7/2018).
- And, at the end, researchers noticed that even supply of the Bitcoin can raise its price in the future (Lost Bitcoins (20%) can rise the crypto-market).
What to expect from the future?
We do not give financial advice, and we do not guarantee any future events, prices pumps and so. Moreover, we would like you to help us to know more future events that can be important. (If you know more of them, please write a comment about it).
Thank you for following us one more week! We hope that the next one will be encouraging.
💰Market Cap: $277 080 775 271
💵24h Vol: $11 583 847 695
↗️↘️ Bitcoin: $6 807,94
↗️↘️ Ethereum: $492,09
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