Bitcoin Today: Consensus relief.
Price
As expected Consensus (New-York based blockchain conference, organized by CoinDesk company) gives some relief to the Bitcoin price. BTCUSD has returned above 8500.0 level and even broke the Bearish Trend Line, which could be a sign of a rebound formation. The conference will be held for two more days, so it is probable that we will see some more upward impulses in near-term. The next resistance levels on the way up are 8800.0 and 9000.0 level which coincides with the 100-days EMA. 8500.0 level should serve as a support for the rebound scenario.
Today forecast
Lateral trading in the 8500.0 – 9000.0 zone. Possible breakthrough above the 9000.0 level.
Latest news
As expected Consensus (New-York based blockchain conference, organized by CoinDesk company) gives some relief to the Bitcoin price. BTCUSD has returned above 8500.0 level and even broke the Bearish Trend Line, which could be a sign of a rebound formation. The conference will be held for two more days, so it is probable that we will see some more upward impulses in near-term. The next resistance levels on the way up are 8800.0 and 9000.0 level which coincides with the 100-days EMA. 8500.0 level should serve as a support for the rebound scenario.
Today forecast
Lateral trading in the 8500.0 – 9000.0 zone. Possible breakthrough above the 9000.0 level.
Latest news
- NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading.New York State Department of Financial Services Superintendent Maria T. Vullo has announced on Monday that Gemini Trust Company LLC has been authorized to offer the custody services and trading of Zcash, Litecoin and Bitcoin Cash on its exchange based in NYC. She said: “This action continues New York’s longstanding commitment to innovation and leadership in the global marketplace. With smart and thorough regulatory oversight, the development and long-term growth of the industry will remain thriving.”
The addition of Zcash especially seems to have taken the market by surprise, leading to its price jumping over 40% in the last twenty-four hours. Back in March, the founders of the trading venue revealed that adding new cryptocurrency options are high on the company’s agenda this year, with BCH and LTC at the top of the list. Tyler Winklevoss, CEO of Gemini, commented on Monday: “We are proud to be the first licensed exchange in the world to offer Zcash trading and custody services and look forward to providing customers with a safe, secure, and regulated place to buy, sell, and store Zcash, an incredible new form of digital cash.” - CME Strikes Deal for Ether-Dollar Reference Rate. Chicago Mercantile Exchange & Chicago Board of Trade (CME Group Inc) announced a partnership with Crypto Facilities Ltd to list the price of ether in real-time dollars. Information from major cryptocurrency exchanges Bitstamp and Kraken will be used to determine the CME CF reference rate. This could be a hint of things to come for the second most popular crypto in the world, including possible US futures.
“CME Group’s experience and knowledge in bringing the Bitcoin Reference Rate and Real-Time Index to market,” Chicago Merc’s website pithily stated, “has enabled us to launch an Ether-Dollar Reference Rate and Real-Time Index […] and the CME CF Ether-Dollar rates will provide a standardized reference rate and spot price index to bring confidence to any trading strategy. Major cryptocurrency exchanges Bitstamp and Kraken provide the pricing data to bring our dependable rate to the market.”
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