Market Review. Results of the Day. 06/18/2018

June 18, 2018

Technical analysis

Today, main cryptocurrencies grew. Bitcoin broke out from the triangle and entered a short-term growing trend with a target of $6,900.

BTC $6752.00. Support level is $6,400.

ETH $524.00. Support level is $490.

XRP $0.5475. Support level is $0.51.

EOS $10.80. Support level is $10.20.

BCH $895.00. Support level is $830.


News review

John McAfee advertised the Docademic (MTC) cryptocurrency. After that its price grew by more than 40%.

Bank for International Settlements published a 24-page article about cryptocurrency as a part of its annual economic report. The bank claims, that digital currencies cannot act as money, as they have problems with price stability and scalability.

Recently, a so-called report was published about the global energy consumption on the cryptocurrency mining. The report referred to a research, the result of which showed, that the energy consumption of cryptocurrencies is larger, that the energy consumption of whole countries, for example Ireland. Later it has turned out, that no research has been conducted and the real energy consumption can be 2 or 3 times less.

A UK-based startup called 50cycles builds bicycles, that can mine cryptocurrency.

Managing director of the International Monetary Fund Christine Lagarde said that the global financial system still has not recovered from the Financial Crisis of 2007-2008 and there are still no solution for existing global problems. Along with this, she once again expressed her optimism towards cryptocurrency.

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