Apple cofounder remains confident in Bitcoin. Daily analysis

Summary:

-Steve Wozniak hopes Bitcoin to become the currency of the internet

-Bitcoin is heading for a short-term support

-US universities are investing part of the budget in virtual money investment funds

Yesterday was a good day for scholarships, especially for European actions. However, we can not say the same about virtual coins. According to CoinMarketCap, the total capitalization of virtual coins lost about $ 20 billion in 24 hours, with the most significant currencies registering depreciation. The US Securities and Exchange Commission has recently appointed the new head of the virtual currency department. Valerie A. Szczepanik is at the forefront of the department dealing with studying how securities legislation can also apply to digital assets.

Szczepanik is not new to the SEC, being among the first officials of the institution to have made public comments on ICO projects. Its approach is favorable to investors, advising start-ups of ICOs to put more emphasis on protecting investors in order to develop the industry. The SEC pays much attention to virtual coins, wanting to create the right legislation. We need to recall that ESA chairman Jay Clayton said in the past that this area needs to be regulated carefully so as not to destroy the potential and slow the pace of innovation.

BITCOIN broke the downward trend line, but failed to overtake Fibonacci 61.8%. Instead, the price has depreciated and seems to be moving towards testing a short-term support area ($ 7240-7340).

Steve Wozniak, one of Apple's founders, has expressed optimism about the most popular virtual currency, Bitcoin. Wozniak responded to the comments made by Twitter CEO Jack Dorsey. He thinks Bitcoin will become the currency of the internet. The founder of Apple said he was not sure that this would happen, saying it was "a thought." In his opinion, being the first virtual currency to be the best variant of this instrument, being the only "pure" coin. The other coins are derived from Bitcoin, some of which derailed from the central principle of virtual coins, decentralization. All these aspects give Bitcoin the best chance of resisting and developing. Wozniak owned Bitcoin and Ethereum, but, according to him, only to test the payment methods. He sold the virtual coins held, keeping only one Bitcoin unit and two Ethereum units.

Ripple encountered difficulties near the $ 0.65 threshold. On chart H4 it can be seen that the 33-year moving average stopped the downward movement twice (the orange surface). Traders should therefore pay more attention to this level once the price returns to this area.

John Lore, the founder of the Capital Fund Law Group, gave an interview to Business Insider, during which he provided interesting insights about the type of investor choosing virtual currency investment funds. The company provides legal services for investment funds, helping last year over 30 funds investing in virtual currencies. Most of the capital earned from such funds comes from people with high incomes and, to a lesser extent, from family businesses. He said these investments are not popular, nor do they think they will be in the near future among institutional investors due to uncertainty about the regulatory framework. A surprising but also interesting aspect is that universities are becoming more and more interested in this type of investment. The amounts come from development budgets, therefore they are relatively low.