Bitcoin Today: One more dip
Price
The Friday started with another one dip of the BTCUSD and renewal of the near-term minimums. The fall has started yesterday and brought the price below the 8000.0 level, this zone showed high level of support and brought the price back, above 8100.0 level. Comeback to the 8500.0 level will be needed to restore the bullish view of bitcoin. In case of a breakthrough of the 8000.0 level, the next resistance will be seen at the 7700.0.
Today forecast
Lateral trading in the 8000.0 – 8500.0 zone.
Latest news
The Friday started with another one dip of the BTCUSD and renewal of the near-term minimums. The fall has started yesterday and brought the price below the 8000.0 level, this zone showed high level of support and brought the price back, above 8100.0 level. Comeback to the 8500.0 level will be needed to restore the bullish view of bitcoin. In case of a breakthrough of the 8000.0 level, the next resistance will be seen at the 7700.0.
Today forecast
Lateral trading in the 8000.0 – 8500.0 zone.
Latest news
- South Korea to Follow G20 Unified Cryptocurrency Regulations. The South Korean government reportedly plans to soften its crypto regulations in line with the policies set by the G20 nations in an effort to create “unified regulations.” The Korean regulators have also agreed to apply the standards set by the Financial Action Task Force to its crypto policies. The top financial policymakers of these countries have agreed to acknowledge and regulate cryptocurrencies as financial assets, the news outlet noted, elaborating: “Financial policymakers of G-20 nations have set a July deadline for the first step toward ‘unified regulations’ of cryptocurrencies. One reason for the move by the G-20 is that they see cryptocurrencies as ‘too small to jeopardize’ financial markets. The combined market value of cryptocurrencies is less than 1 percent of the global GDP.”
- Switzerland Formally Considers State Backed Cryptocurrency. Reuters reported Switzerland is formally considering the possibility of a state-backed cryptocurrency. Its government has asked legislators commission a study on the pros and cons of a Swiss “e-franc.”
Switzerland’s Federal Council explained why it was asking for a formal study of state backed cryptocurrency. “The Federal Council is aware of the major challenges, both legal and monetary, which would be accompanied by the use of an e-franc. It asks that the proposal be adopted to examine the risks and opportunities of an e-franc and to clarify the legal, economic and financial aspects of the e-franc.” - Binance Delays TrueUSD Launch. After announcing its plans to start offering TrueUSD (TUSD) trading on Friday, May 18th, at 4:00 am (UTC), Binance has postponed the launch of the USD-pegged stablecoin. Binance will no longer be launching TrueUSD (TUSD) trading on Friday, May 18th, at 4:00 am (UTC), as was originally planned. Instead, the hugely popular cryptocurrency exchange will start offering TUSD trading on May 22nd, at 4:00 am (UTC).
“Due to popular demand, the TrueUSD (TUSD) project team requires more time than originally planned to prepare for sufficient liquidity. Binance will therefore postpone the trading start date to 2018/05/22 04:00 AM (UTC). Deposits for TUSD will remain open during this period. Thank you for your understanding.”
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.