Market Review. Results of the Day. The Growth Continues

May 5, 2018


BTC $9659.65

ETH $776.44

XRP $0.8887

BCH $1501.42

LTC $163.18

EOS $16.83


Technical analysis

Main cryptocurrencies corrected today. EOS is worst than the market (-2.90%)/

In general, the growing trend is continuing, and the most likely scenario that is will keep on.

Bitcoin support level $9,000, resistance $9,750.

Ethereum support level is $680, resistance is $800.

Ripple support level is $0.80, resistance level is $0.95.


News review

On May 7, SEC and CFTC will first discuss whether Ethereum can be classified as security. The future of the platform and many tokens largely depends on the decision of the officials. The mood of the community is quite positive. It is one of the reasons of the current growth of ETH.

Results of the survey showed that 77% of companies does not want to implement blockchain. Only 1% of respondents said that their companies already use the technology, while 8% said that it will be implemented in the near future and 14% told, that the implementation of blockchain is in medium-term plans of their companies.

Social platform Reddit to reinstate cryptocurrency payments. It is planned, that not only bitcoin, but some other cryptocurrencies will be accepted by the platform.

Christine Smith, a content strategist with Federal Reserve Bank of St. Louis says that bitcoin is like ‘regular money’.

South Korea is likely to lift ICO ban. An according bill is currently being drafted by a group of legislators, led by a politician from the ruling party of the country.

Two bitcoin and one monero forks are coming in the near future. Holders of XMR will receive 10 XMV tokens for 1 XMR.

In the first 4 months of 2018 only 17% of all tokens, issued through ICOs, are trading above the presale price. Moreover, nearly half of projects still has not presented anything, but an idea.

Tangem released cold bitcoin wallets with a strict amount of cryptocurrency: 0.05 and 0.01 BTC. Wallets are made in the form of banknotes, and the NFC technology is used for payments.

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