Market Review. Results of the Day. No Changes
April 11, 2018
Nothing has changed from the technical point of view on the cryptocurrency market. Prices grew slightly and moved in narrow ranges. The trading volume and volatility decreased.
A pattern called triangle has formed on XRP chart. An exit from the triangle will be a signal for the beginning of a new trend. The support level is $0.47, the resistance level is $0.52.
South Africa imposed a tax on cryptocurrency, although the legal status of digital currencies has not yet been determined.
Despite China's aggressive attitude toward cryptocurrency, the country is very interested in the underpinning technology blockchain.
The People's Republic of China will help to create the largest blockchain fund with $1.6 billion of assets.
As a result of the controversial Monero hard fork, 4 'useless' cryptocurrencies emerged, while the hashrate of the network crashed by 82%. The community is furious. However, this has not affected XMR price much.
Another Asian country, Singapore, is also planning a large-scale implementation of blockchain in fintech in order to make financial services in ASEAN countries more accessible.
According to official data, 3% (3.5 million) of all Japanese residents trade cryptocurrency.
Famous investor Tim Draper turned to Prime Minister of India Narendra Modi, saying that the restriction of crypto currency is a huge mistake.
Draper stated that not considering the cryptocurrency as the legal tender is "the stupidest thing".
"Bitcoin and blockchain are the best things to have happened for business."