Market Review. Results of the Day. 07/04/2018

July 5, 2018

Technical analysis

Main cryptocurrencies continued to grow today. A continuation pattern has formed on the Bitcoin chart. If the price breaks out the level of $6,800, the target is $7,800.

BTC $6,672. Support level is $6,400.

ETH $473.89. Support level is $450.

XRP $0.496 $. Support level is $0.475.

EOS $9.056 $. Support level is $8.50.

BCH $766.90 $. Support level is $725.


News review

Based on BTC price trends, Bitcoin is experiencing the same correction as it experienced in 2014, but shorter. 2014 correction and 2018 correction have the same drops and corrections. Now Bitcoin is on its way down to another support level.

Binance recapped an incident happened on July 3. The price of Syscoin grew by 2,400,000 times: from 0.00004 BTC to 96 BTC. Binance temporarily suspended trading, deposits and withdrawals. The cryptocurrency exchange will compensate the customers, who suffered from the incident. Victims are freed from any fees for 10 days. Other users will receive a 70% discount for paying fees with BNB.

The launch of Russian crypto cities has been postponed until better times.

QIWI Blockchain Technologies (QBT), a subsidiary of QIWI, launched the cryptocurrency investment project HASH. HASH is based on a classic model of investment banking. The project provides a platform for ICO. HASH plans to cooperate with international cryptocurrency investment funds. HASH will start offering cryptocurrency trading services next year.

Russian Association of Cryptocurrency and Blockchain (RACIB) named Krasnoyarsk Krai as the best place in Russia for cryptocurrency mining. Other attractive places for mining are Murmansk oblast and Tyumen.

Iran started censoring cryptocurrency exchanges.

Bill Gates Foundation teamed up with Ripple Labs to develop technology for unbanked people.

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