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

July 9, 2018

Technical analysis

Main cryptocurrencies continued to move within a short-term growing trend. BTC is trading just below a resistance level of $6,700-$6,800. EOS is trying to break through a support level of $8.50.

BTC $6,707.31. Support level is $6,500.

ETH $478.07. Support level is $460.

XRP $0.47678. Support level is $0.475.

EOS $8.4802. Support level is $8.50.

BCH $744.40. Support level is $725.


News review

Fundstrat analyst Tom Lee said, that he overestimated Bitcoin and lowered his forecast from $25,000 to $22,000. He noted, that the price of the cryptocurrency must be at least twice as high as the cost of mining.

YouTube is now a defendant in a class action suit against Bitconnect.

One of the largest European cryptocurrency exchanges SIX Swiss Exchange announced the start of the development of a blockchain platform, that would allow to tokenize financial assets.

Facebook's Director of Engineering Evan Cheng moved to a new position within a company. He has become a Director of Engineering, Blockchain. Cheng will consult on several blockchain projects, such as Zilliqa or ChainLink.

Dash announced, that it shortly will launch a new version of the network, that includes many updates. Version 12.3 includes Dash Evolution, Private-, and InstantSend, and Dashnetwork. The main goal of the update is to reduce the number of enters into the wallet and to increase the level of privacy of users.

CBOE wants to launch a Bitcoin ETF.

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