Analysis of prices BTC, ETH, XRP (30.07.20)


Yesterday, after a brief consolidation in the region 11000.00 USD, the buyers made another attempt to overcome the resistance 50% Fibo (11394.15 USD).

Purchases are only slightly higher than the average level of trading, and the bulls were unable to test the fifty percent Fibonacci level. At the end of the day, the volume started to decline, and over night the price of bitcoin is back eleven thousand dollars.

On the daily time frame indicator line RSI Stoch is still overbought and suggests that soon will roll back to the nearest strong support level. We believe that before the pullback, the market-makers can cause a false bullish breakout in the area of 12000.00 USD, and the depth of the first wave of the pullback may reach the support 10500.00 USD.


Yesterday, the buyers failed to overcome the resistance 330.00 USD, and update the annual maximum. During the day, trading volume dropped below average and the pair consolidated around 320.00 USD.

During the night price slipped, but managed to hold above a two-hour EMA55.

Today is possible to attempt to target a bullish level of 360.00 USD, but if the pressure by the bears will increase, the price will return towards the psychological mark of USD 300.00.


Yesterday the price of XRP could continue growth and to update monthly maximum of around 0.250 USD. It should be noted that Ripple won its rightful third place in terms of capitalization in the rating CoinMarketCap, pushing recently won third place in stabilin Tether.

Last night the pair XRP/USD returned from the zone of maximum in the area of 0.240 USD. If today bulls will not be able to take any active steps to re-test target level of 0.280 USD, the price can slowly roll back to the support 0.230 USD.

* All prices shown are based on data exchange BitStamp


Network Cardano activated update Shelley

The network’s seventh largest cryptocurrency Cardano long-awaited hardwork Shelley.

The update was activated today at 00:44 GMT, and marked the transition Cardano with federated governance mechanisms at the decentralized. With Shelley in the core network Cardano appears the possibility of staking and delegation of assets. Based on a special test network stacking with tangible rewards was available in a few months before.

For staking, you must have a large volume of ADA, as it increases the chances of his selection as the manufacturer of the unit. He also can delegate his or her assets in favor of third-party pool and to earn a proportionate share of ADA. The company estimates IOHK behind the development of Cardano, the number of stacking pools over time, approaching a thousand. At the stage of launching the updates in the network presents over 450 pools. The first distribution of awards will take place on August 18.

«This is a tremendous achievement, but it does not mean that we do nothing. We intend to achieve phases of Voltaire and Goguen road map Cardano, which will allow to implement reliable control schemes and smart contracts,» said Director of product IOHK Aparna Ju.

«By this time next year we can see hundreds of assets and decentralized applications on the blockchain Cardano», – commented on the achievement CEO IOHK Charles Hoskinson.

Price ADA during the last three months rose by 200% and reached a maximum of 2018, a level above us $0.15. Today, holders of ADA, apparently, decided to «sell on the news», with the result that the rate dropped to 4%.


American banks are allowed to store cryptocurrency customers. But will they do it?

On 22 July, the Office of the Comptroller of the currency (OCC), which is part of the U.S. Department of Treasury announced that national banks and Federal savings institutions have the right to remain crypto-currencies to their customers. What this means and how it will affect cryptosphere.

The decision of the U.S. Department of OSS has attracted the attention of the crypto community. So, in the explanatory letter of the Ministry reported that national banks and now Federal savings Association of the United States entitled «the cryptocurrency to provide custodial services for our clients.» Moreover, as noted in the publication American Banker, the decision of the OSS is more of a recommendation, and other U.S. regulators may restrict banks in providing similar services at its sole discretion.

In published OCC document States that:

  •  The credit institution received from the Agency a «green light» to self-provision cryptomaterial services and are not obliged to resort to the services of third parties.
  •  The provision of such services provides that banks «will have access to the unique cryptographic keys that are related to bitcoin storage».
  •  Cryptomaterial to provide services to legal entities only in case when companies are in full compliance with us law.
  •  The banks and savings institutions also must comply with all legislation and conduct an audit of cryptocurrency for their origin. All organizations that decide to provide such services will have to be in constant contact with the OCC and to provide any requested American officials information. Moreover, the legal status of cryptocurrency transactions in the US remains «unclear» on 23 July said in his Twitter veteran wall Street analyst, and Kathleen long.

Interestingly, in the OCC document, special attention is paid to the private keys of customers, it is emphasized that there is a risk that «if a third party will have access to the keys, it will be able to transfer their bitcoin to himself.»

Moreover, the document States that although cryptographicly can be conducted without intermediaries, sales of many coins is carried out through centralized exchanges, some of which are in the US received a banking license to operate as trust banks. This means that in the eyes of the SIS, these centralised financial institutions like national banks are the best entities that the owners of cryptocurrencies can trust the keys to your cryptocurrency. So, the document notes that «the quality cryptomaterial services banks and Federal savings institutions on any asset is a priori better than any of the existing alternatives.»

OSS: banks — best custodians of cryptocurrency

Custodial service for the storage of cryptocurrency is considered OSS as an instrument for enhancing already existing services of financial institutions. Moreover, the Department is confident that the banks can provide secure storage for private keys since there is always the risk that the client will lose access to their cryptocurrency or forever lose it. In fact, this situation in cryptosphere is not uncommon. So, access to about 4 billion of existing bitcoins have been lost forever.

In the end, it is expected that individuals (in particular, the 40 million Americans who already own digital assets), and investment companies that manage cryptocurrency clients can trust private keys from their cryptocell financial structures of the United States. Those, in turn, would ensure their security at the expense of «hot» and «cold» storage.

As a result, expect the representatives of the OSS, US banks will be able to consolidate its position not only on the existing financial market, but also to play an increasingly important role in the cryptocurrency.

Banks and the stock market: what is the world experience?

It should be noted that only U.S. financial regulators are trying to integrate banking institutions in cryptosphere to more rigorous monitoring of the industry.

For example, the German regulator BaFin goes to meet cryptobytes, by 1 January 2020 financial organizations to work with cryptocurrencies and provide cryptomaterial services. And in Switzerland’s fifth largest Bank Julius Baer for the first six months of this year received a record profit due to the launch of services on storage of bitcoin. While Julius Baer is not the only Swiss Bank offering cryptomaterial services. So, since September 2019 in this direction works Arab Bank Switzerland and since June of two banks (Bank Maerki Baumann and Incore Bank) has received permission from the Swiss regulator FINMA on the provision cryptomaterial services.

Congress approved the proposal of OSS

The movement towards the introduction of cryptocurrencies in the classical financial sector finds its support including from the American political establishment.

Welcomed the decision by the OSS congressmen Darren Soto and Tom Emmer, both serve on the Board of the U.S. Congress on the blockchain (the Blockchain Congressional Caucus). In working under government contracts company of new York Chainalysis also responded positively to the changes in order to assist cryptomaterial services, Recalling that the trace cryptocurrency transactions in the public blockchain just so you can more effectively identify suspicious transactions, compared with the analysis of «traditional forms of transmission of values.»

The news about the intention of American financial organizations to provide services to representatives of cryptosphere could not be reflected in the stock market. July 26, bitcoin managed to overcome the psychologically important level of $10,000. Against this background, the dynamic growth demonstrated and the altcoins, with the result that the dominant figure of the first cryptocurrency has gone since the year’s high of 67% to below 60%.

The prospects of the industry

Among the players of the stock market just have a lot of assumptions about what will happen next.

So, the head of the company Three Arrows Capital su Zhu suggested that in the near future in the US, the credit organization will start to turn dollar deposits in stabilini, and then send them to the DeFi to generate income. This is stated in the document the OCC, which States that banks can use cryptocurrency to cryptocurrency staking and credit operations. However, it is also noted that these services will be provided only in case «if necessary to strengthen the traditional financial system».

This indicates that the U.S. government does not expect to start the transformation of the banking sector. And without it, even the «regulatory clarity cryptomaterial services,» which enthusiastically says the managing partner of Morgan Creek Capital Anthony Pompliano will not lead to the recognition of the status of bitcoin as a world reserve currency.

Reaping the «digital disability»

On 23 July, the bitcoin enthusiast Pierre Roshar made a bold prediction: the largest US Bank JPMorgan Chase can acquire Coinbase. In turn, the exchange from August 2019 owns the provider cryptomaterial services company Xapo, which keeps 7% of all outstanding bitcoins, worth about $12.7 billion.

Indeed, buying Coinbase, along with Xapo, would be attractive and logical for JPMorgan Chase. The stock market already has players such as Fidelity Digital Assets and Bakkt that have cryptomaterial services being subsidiaries of classic financial institutions and investment Fund Fidelity Investments (total assets under management were nearly $2.5 trillion) and the Intercontinental Exchange, which manages 12 classic exchanges, including the largest stock markets in the world NYSE.

While Fidelity Digital Assets and Bakkt are on the market cryptomaterial services, along with players such as Gemini, Anchorage and BitGo, which has grown and developed along with cryptosphere. Only one BitGo on terms of storage of bitcoins is on the same level as Haro. While BitGo this year bought two more of cryptomnesia — Harbor and Lumina, as indicated on the plans of cryptococcaceae to build a large ecosystem with a wide range of services. The same way goes on, the company Xapo, which in may announced plans to become «digital Bank».

Thus, the output of American banks on the market cryptomaterial services will be associated with a high level of competition with already existing players. That the US is far behind in this matter compared to other States, said Kathleen long. And the result of this competition is almost guaranteed to be not in favor of the classic US banks.

The integration of classical Finance to cryptosphere

Jake Czerwinski specializing in cryptocurrency matters, the lawyer from Washington, suggests that although banks are «allowed» to go into the world of cryptocurrency, in the near future they do not intend to. A similar statement was made in the Coin Center.

However, all is not hopeless for us banks. Thus, a sufficiently large number of owners of cryptomery may be interested in the fact that the market cryptomaterial services came under the management of classic financial institutions. So, the explosive growth of shopping providers American banks predicts Kathleen long.

While it is doubtful that the classic financial institutions, the U.S. can persist in the same form in which they were presented during the last decades. The fact that the output of American banks on the market cryptomaterial services in most cases will look like an attempt to keep up with the times, however, their success in this field is highly questionable in light of the high competition. Thus, it is likely that cryptosphere will increasingly integrate the classical world of Finance in its structure than Vice versa.


At eToro will have its own debit card

Support trading bitcoin and other cryptocurrencies investment platform eToro plans to start issuing its own debit cards. Their first owners will be members of eToro Club of great Britain, later the order is open to EU residents and, finally, to everyone who is not a member of the club, writes TechCrunch.

The card Issuer will perform the acquired eToro company Marq Millions license of the operator of electronic money and the main membership in Visa. The transaction value was not disclosed. Marq Millions will be known at eToro Money, the current management of the company will retain their positions.

Also under the deal, eToro will inherit the license of EMI [tooltip: organization-Issuer of e-money] the British FCA (FCA) and the full member of Visa payment system.

According to the publication, planned for release, the map will provide an instant receipt and withdrawal of funds. In eToro note that this way the customer platform will be an additional way to withdraw your profit in Fiat.

Representatives of eToro in December hinted at a possible start of card issuance in the second quarter of this year. Despite the postponement, which could affect pandemic COVID-19, the head and co-founder of eToro, Yoni Assia expects huge interest in the new product from the 14 million registered users of the platform.

We will remind, in April to FINTECH-the Visa to issue debit cards with cash back rewards in bitcoins was joined by the developer of the payment application Fold.

In July on the joint Visa plans to release cards for bitcoin payments reported by the company-developer of the popular Lightning-Zap wallet.

Subsequently, the representatives of Visa declared readiness to actively support the development of digital payments space. The company intends to pay special attention to security and privacy, digital payments and cryptocurrency to support projects and solutions based on the blockchain.


The researchers named the country with the largest scale of the hidden mining

Researchers from Microsoft found that the largest scale of the hidden mining originated in India. In this country the speed of the spread of the malware to cryptogamia more than 4.5 times higher than in other States.

In Asia, first place is held by Sri Lanka and India in this region rests on the second line, according to a study on cyber security.

Recall cryptogamia experts call a hidden mining cryptocurrency. The various ways hackers infect computers or other devices of the victim.

The virus begins to consume the processing power of the equipment to get the tokens. Moreover, the device owner doesn’t even know that it is already infected. It can, however, notice a drop in performance of the smartphone or computer.

The analysts of Microsoft have noted that compared with 2018 the scale of the hidden mining software in the world has declined by about 40%. If the increase in value of bitcoin and other cryptocurrencies continues, again hackers intensify attacks on Internet users, so how to get tokens once again become profitable, predict the authors of the study.

Note that in Russia there are also cases where by means of viruses, hackers infect the computers or other devices for the use of their power for mining. The most common malware programme is for covert mining of cryptocurrency Monero.


Arthur Hayes announced the beginning of the bull market cycle of bitcoin

Doubt the necessity of buying bitcoin? Then listen to the words of CEO of the cryptocurrency exchange BitMEX, Arthur Hayes. He said that the cryptocurrency market has officially moved into a bullish cycle, that is, in the foreseeable future, the price of BTC will increase substantially. As well as other coins.

What will happen with cryptocurrencies

Last night the price of Bitcoin got a chance to jump to level 11 $ 300. At the time of this writing BTC is trading in line 11, $ 100. Recall that the price of the home cryptocurrency over a month fluctuated around 9200 dollars. On the market was the record low volatility of an asset for a long time.

That is, the cryptocurrency was too quiet, and the movement of her course was too small.

Note that the last week experts noted decrease in this indicator. Then the 30-day volatility of Bitcoin exchange rate fell below 20 percent. And according to analysts IntoTheBlock in the history of cryptocurrency it happened a second time.

Now the situation has changed. Over the last week the exchange rate of Bitcoin has grown at least 2 thousand dollars. Of course, key industry representatives cryptocurrency could not fail to notice what is happening and not to react to it. Among these people was a co-founder and Director of the popular cryptocurrency exchange BitMEX, Arthur Hayes.

Here the quote and tweet of Hayes, which he is quite eccentric, noted the official beginning of the bullish cycle.

This Wed**th bull market, are you ready or what!!!!!

Message to the CEO of BitMEX attached a frame from the film «the Americans», in which the hero of actor Alec Baldwin explains the brilliant strategy of sale of assets. That is, Arthur has made it clear that soon we can expect an excellent probability to reset the stocks of coins at a great price. At least so interpreted the message.

Then Arthur again commented on the events.

I told you all about my pocket-rockets. I will now include the mode of Scrooge McDuck in this market.

That is Hayes truly believes in a new stage of growth of the cryptocurrency market, and plans to make it. We will remind, the exchange including money in transaction fees to users. Therefore, the more people will rush to exchange, the more will be the income of their leadership — and Arthur in particular.

The parade of tweets Arthur finished not comfortable with voice input. It shows the attitude of the person who does not Longuet Bitcoin — that is, does not believe in its growth.

I pity the fool.

But CEO exchange Binance Chanpen Zhao more restrained in their comments on the market situation. It encourages users to be very careful.

Kryptonim already out, and more and more people get into the industry. Please learn risk management. Do not put all your funds on one transaction or even one asset.

In this case his advice Zhao to follow — yet his situation is very different.

I myself do not follow this advice because 99 percent of my capital are associated with a single asset. But I have a big cushion [security]. And I’m still an entrepreneur. Everyone has different situations. Manage your risk accordingly.

Zhao was voiced by the Golden rule every good trader and investor is «not putting all your eggs in one basket». Risk management is perhaps the only technique that has the highest probability of save your money in cryptocurrencies. So try to allocate your capital on a list of assets and not to invest just one coin.

Whatever it was, the promise of cryptocurrency entrepreneurs, we understand. They feel that the market situation has changed, and now we can all speak louder about the impending Bollene. I hope their predictions and statements are true, and the repetition of 2017 we will see in the next few months.


Cryptocurrency in Russia can withdraw as suspicious savings

The Ministry of Finance of Russia proposed to withdraw the citizens of the funds, the legality of which it is impossible to prove in favor of the Pension Fund (PFR). The relevant amendments to the Budget code submitted to the government.

As found «Izvestia», the Ministry of Finance is preparing amendments to articles 46 and 146 of the Budget code of the Russian Federation in terms of clarifying the list of incomes of the budget of the Pension Fund. We are talking about the fact that the FIU has transferred funds in respect of which in accordance with the legislation on combating corruption is not presented the proofs confirming the legality of their receipt. In a press-service of the Ministry of Finance explained:

«In the Civil code we have made clarifying amendments that confiscated in cases that may not be the only property in respect of which no evidence confirming the acquisition of property on the legitimate income and funds — in the absence of evidence of the legality of their receipt. The bill was submitted to the government.»

The bill provides that the new rules can enter into force in December 2020.

Now in favor of the state is withdrawn, only the property if it is purchased with the income, the validity of which has not been confirmed. Note that at the end of last year, the constitutional court said that it could be confiscated from any person, not only officials and members of their families, are subject to the law on control over expenses of state employees.

It is unclear how to check «suspicious accumulation» of citizens. Unknown and the minimum size of these funds to initiate verification.

What about cryptocurrencies?

For cryptocurrency, which has not yet received official status in Russia, despite the recently adopted law «On digital of financial assets (CFA),» the situation is ambiguous. Co-founder of the international investment company EXANTE Anatoly Knyazev says:

«The question is, what property is considered suspicious, is still open. Probably the official status of the cryptocurrency will not receive, but the possibility of forfeiture will appear after the decision of the court.»

He added that the Tax code was amended on the recognition of cash assets that will allow us to confiscate it under the new bill the Ministry of Finance.

The process of confirming the income received in bitcoin may lead to lots of difficulties. For example, if you bought bitcoin a few years ago and since then has increased its digital capital, you will need to gather documents proving the acquisition of the asset on legal means.

Another possible problem is the confirmation of income from arbitrage trading is when a trader earns on the resale of coins at various venues. In this case, it will not be a single database, which can be used to confirm the capital gains.

Note that the process of confiscation of digital assets — a separate issue. Most investors keep their cryptocurrency trading platforms. But if the company is registered in a foreign jurisdiction, perhaps the authorities will not be able to request withdrawals.

Experts believe that with the adoption of the amendments, the majority of investors will put their money in the cryptocurrency. Therefore, we can assume that the market of digital assets go fresh money those who are completely disappointed in the banking system.


Tether, the company printed another $540 million in USDT

Tether, the company has published three games tablconv USDT for a total amount of up to $540 million this is according to the Whale Alert service.

The issue continued for the last three days. The team included a printing press after bitcoin began to rise in price and broke through the psychological mark of $11 000.

300 million USDT team has released network Tron. Another two batches tablconv 120 USDT million each were issued on the basis of Ethereum.

According to General Director of the Tether Paolo Ardoino, the inclusion of the printing press caused by the necessity to replenish the reserves of the company amid the rising cost of BTC.

Issued coins will help to satisfy investor demand if it will soon grow. However, the use of USDT for $540 melon team plans in the next period, wrote Arduino on Twitter.

At the moment the offer tablconv exceed 10 billion it is believed that the inclusion of the printing press Tether is a positive signal for the bitcoin.

One of the supporters of this view Charles Edwards in January stated that the issue USDT creates conditions for more active penetration of investors in cryptosphere. Using this asset as they come on the market and start buying BTC.


Listing Coinbase: why kryptolebias to go on exchange?


A major American crypto currency exchange Coinbase can go to the US stock market before the end of this year or early next. On 9 July, reported Reuters citing three sources close to the company. While Coinbase will likely refuse to spend IPO and direct listing, instead of assuming the issue of new shares the sale of securities of the original investors. Listing kriptolodzhika still must be approved by the Commission on securities and exchange Commission (SEC), but if successful Coinbase will be the first crypto currency exchange, whose shares are traded on the stock market. As the company is preparing for listing, who else is going to go public and whether to wait for the wave of IPO from CryptoStream, understood DeCenter.

Secret training Coinbase to listing

According to sources Reuters, although preparations for the listing of the Coinbase is in full swing, it is not final decision: plans and timelines of the company on the stock market can change. While the stock exchange has not applied for registration, but is already in talks about bringing investment banks and law firms. The press service Coinbase refused to comment on «rumors or speculation,» the SEC also declined to comment.

But beyond the rumors there’s some circumstantial evidence that Coinbase is preparing for listing. So, in may of this year, J. P. Morgan, one of the largest investment banks in the world, began to provide services Coinbase and Gemini. Then the representatives of the Bank hinted that the organization will be able to benefit from future IPO Coinbase. A July 8 Coinbase in his blog announced the appointment as General counsel former Vice President Facebook Sex Grewal to manage relationships with financial regulators. He should «pave the way for the next stage of making the crypto industry.» Coinbase previously denied preparing for an IPO, but noted that it is working on restructuring income.

Also on 14 August, Coinbase plans to hold its first investor Day meeting of management of the stock exchange with investors during which the company talks about his work and plans, and investors ask questions about the activities of the site. Due to the ongoing pandemic, the event will be held online. Representatives did not specify whether the investor Day with the rumors about the preparation for the listing, noting that the purpose of the meeting is to provide «a broader understanding of cryptocurrencies and blockchain» among the participants. However, usually such meetings are held prior to listing on the stock exchanges.

Instead of direct listing IPO

One of the sources told Reuters that Coinbase is considering a direct listing (Direct Public Offering, DPO) instead of the more traditional initial public offering (IPO).

The main differences between the direct listing from the IPO:

 The company creates new shares and sells securities that are already on the OTC market (OTC) — the initial investors of the company, its employees and top management.

 No new funding — they are involved through private investment in public equity.

 No underwriters, who help in the organization of filing and transactions, as well as the first to buy issued shares. Typically, the underwriters are the investment banks. Their absence means that the Issuer does not need anyone to share the proceeds from listing.

 Lower costs — in preparation for the IPO, the company spends more money on auditing, the drawbacks, the work of consultants, lawyers, preparation of documents, preparation of road show for investors, support of transactions, issuing securities and so on. With the direct allocation of these costs is not. The underwriters charge a Commission per share, which may vary from 2% to 8%. This means that a significant portion of the capital raised through the IPO, is to compensate intermediaries, sometimes reaching hundreds of millions for the IPO.

 There is no lock period (Lock up) — the current investors and employees can immediately put their shares for sale. In the case of IPOs they could bring paper to the market within six months.

Direct listing is a convenient way for investors to withdraw their investments in the money. However, he does not exclude a later public offering of shares. It can also make trades more successful. After all, this is the most economical way to provide users with a Coinbase access to company shares, while retaining its legal structure. This method of going public is becoming more and more popular in recent years, especially among technology companies. For example, recently a direct listing held Spotify and Slack.

Direct listing — predictable choice for Coinbase. Recall that the exchange is one of the largest and oldest cryptoplasm on the market. It was founded in 2012, has more than 35 million users in 32 countries. Also, now Coinbase is one of the most regulated markets in the world that allows her to work legally in the United States. According to Crunchbase, since its founding in 2012, the company raised a total of $547 million from 55 investors.

How big capitalization Coinbase is not clear today. Financial statements of the exchange closed, which is typical for private companies. However, according to media reports, in 2017, its revenue amounted to about $1 billion in 2018 and $520 million in 2019 — $488 million and a profit of $146 million In October 2018 after the next round of funding, Coinbase was valued at $7.7 billion.

No matter which method of listing choose Coinbase, the market is in any case will see its financial statements: information about income, expenses and how the company coped with the UPS and downs of the market. And this is a big step for the industry, not differing financial transparency.

Cryptomeria go public

Coinbase is not the only cryptomnesia, which wanted to enter the stock market. In recent years, this trend is observed more clearly.

Mining company. In 2017 on the Toronto stock exchange released a canadian mining company Hive.

Last October, the Chinese mining giant Bitmain has applied to the SEC with the financial support of Deutsche Bank. However, at the beginning of this year, cryptomeria canceled plans to go public — according to rumors, this is due to inspection of the Ministry of justice of its activities.

In November last year, another mining company and the main competitor Bitmain — Canaan held an IPO on the NASDAQ and raised $90 million At the start of the campaign cost $9–$11, now down below $2.

At the end of this June, Chinese manufacturer of ASIC miners Ebang attracted during the IPO of $101 million at a valuation of $685 million After the listing, the company plans to launch its own stock exchange and mining pools.

The crypto currency exchange. In March this year the Australian crypto currency exchange INX, registered in Gibraltar, after two years of preparation, filed documents with the SEC for the IPO in new York. The company hopes to raise $130 million and is working on getting Regulations from the Department of financial services new York. The money raised from the IPO will be used to Finance new crypto currency exchange INX and the new platform security-token INX Securities.

In the same month, the Swedish stock exchange BTCX announced the IPO in the third quarter of this year. The company was founded in 2012 and is one of the largest cryptoplasm Scandinavia.

At the end of this June of its decision to list announced and a large South Korean Bithumb, selecting Samsung Securities as the underwriter. This will be the second attempt by the exchange to go on exchange in the past year, the site tried to make a listing in the US through a deal a reverse takeover, but this did not happen. The company now hopes to hold its placement in the local market. I heard a rumor Bithumb internal problems and doubts about market attractiveness. Also Bithumb trying to challenge the bill from the National tax service of Korea for $69 million for transactions with foreign customers.

Cryptomeria. In November last year, the California scriptbank Silvergate Capital collected through IPO of $40 million on Nasdaq at a valuation of $229 million and plans to raise $52 million Request for listing, the company filed in November 2018, before submitting the documents also on the Hong Kong stock exchange.

At the beginning of this July, the credit blockchain-service BlockFi also said about preparations for the listing in the second half of 2021. To do this, the company is looking for a person for the post of chief financial officer, had 15 years of experience in the financial and stock markets, as well as negotiating with potential investors about additional funding round.

For several years rumors about listing Ripple and Binance. In January of this year at the summit of the world economic forum in Davos CEO brad Garlinghouse said that soon the IPO will become more common in the crypto industry. He also hinted that Ripple itself will be one of the public companies before the end of the year. «In the next 12 months you will see an IPO in crypto and blockchain space. We are not going to be the first, but do not want to be. So I think we will be in touch with leaders… Is a natural evolution for our company,» he said at the forum. Since 2012, Ripple has raised approximately $300 million investment from a dozen investors. During the last round of investment last year the company was valued at $10 billion.

I think investors look forward to the possible return of their investments. If the company is preparing for listing, it is likely that it expects better market conditions and a new round of bull market for XRP. However, IPO does not guarantee success. For example, IPO is hardly a Ripple broke up the price too long falling tokens of the company.

Stock exchange listings cryptomery will affect the industry

The movement to IPO marks a radical shift in how cryptocurrency companies attract capital. An obvious departure from the primary supply of coins (ICO) and other non-traditional ways to get funding. But a few years ago they seemed to be the main way of collecting capital for bitcoin industry. However, tainted reputation and problems with regulators have forced most companies to abandon them. Now startups that are configured for long legal game, clearly prefer listing on a stock exchange or direct funding.

The trend in the listing of important publicity, not just raising capital. To IPO the company needs to provide public access to financial statements and legal information, as well as regularly report on profits and value assets. Therefore, the public status and trade stocks in the stock market is a way to cause me maximum confidence.

Of course, we should not expect that the listing on the stock exchange will become a widespread standard for cryptomery — it is not for everyone. So, most startups in the industry simply will not be able to fulfill all the requirements of the regulators and to pull the associated listing costs, and decentralized platforms possess the wrong structure. But for mining companies the listing is the only way to access the liquidity of the public market.

If the SEC gives go-ahead for listing Coinbase, a key player in North America, exit exchanges on the stock market will be another step towards legitimizing and acceptance of cryptocurrencies. First of all, it will give a signal to institutionalism that the regulator is «reconciled» with the new asset class. It also drew attention to the industry and would, at least indirectly through shares, the market of new investors (for example, in U.S. unskilled retail investors do not have access to investments in nonpublic companies). Moreover, the market would also receive detailed information about the state of Affairs in one of the main exchanges in the market. And Coinbase listing would influence the influx of new funding, increasing liquidity and opportunities for development.

Given the scale of Coinbase, the company’s entry into the stock exchange could have a positive impact on the market as a whole. I think most of the major cryptomery already ready to rise on the stock markets, but wait until regulators provide more clear requirements for industry. Application Coinbase, is also likely to accelerate the adoption of clear legislation regarding cryptocurrencies.


Bitcoin price is stuck at $11 000, but the fall is not yet in sight

As a result of aggressive rally bitcoin (BTC) reached a high of $11 394. However, further price growth has stalled, and she began a gradual rollback.

Consolidation after growth

Bitcoin has formed on the daily chart bullish candle absorption, reaching up to a high of $11 394 and thereby breaking the previous long-term area of resistance.

After this candle the rate of BTC has formed a small bearish candle with wicks on both sides. This is an indication of market indecision and the inability of prices to continue rising.

Technical indicators demonstrate that, despite the over-aggressiveness of growth, the trend still shows no signs of abating:

  • Bitcoin is trading significantly above its 50-day moving average (MA), made possible by the scale and speed of growth.
  • The RSI is significantly overbought, but shows no bearish divergence.
  • MACD momentum continues to grow.

Thus, the daily trend remains cautiously bullish.

For shorter time frames (6-hour chart) the signals look very contradictory.

The bitcoin exchange rate is reduced after achieving a high of $11 394, leaving on the chart long wicks on both sides of the body of the candle. Yesterday the market formed a bullish inverted hammer followed by a bearish hammer. Accordingly, these two figures are mutually neutralized each other.

Indicators show weakness, but these signs are not yet enough to signal a reversal. MACD has lost strength, but a bear crossing has not yet occurred. The RSI is beginning to signal a bearish divergence, but they have not yet been confirmed.

Where next?

After achieving the above-mentioned maximum rate of BTC is trading within a symmetrical triangle. Due to the long upper wick of this maximum we cannot accurately determine the slope of the downtrend resistance. Possibly, price has already broken this pattern. The same is true for the slope of the line support.

Formation rising high above $11 200 will be an important indication of bullish breakout and will lead to a new phase of growth.

On a long-term chart the price is trading near the important area of long-term resistance at $11 700. Price could not reach that area, nor break it with Jul 2019.

On the other hand, the market has not tested the support area $10 300, bullish breakout which he recently did. It would be more logical if the first price again tested this area, and then made a bullish breakout of the $11 700.

However, note that this weekly chart. Perhaps in the short timeframe, the price will rise to resistance and then gives way to the support.

Thus, despite the extremely aggressive growth rate of BTC, the pair has not yet shown clear signs of weakening, which would indicate a coming pullback in the short term.