Zerticuz Daily Bitcoin Spy Track : Quality Raise
Bitcoin will rise for now
Risk aversion persisted as an overall bearish market and more news of regulations on ICOs and exchanges over the past week, keep investors from buying. While selling has been broad based, a flight to quality is being seen in the market has bitcoin increased its percentage share in the market cap despite the downturn.
image in coindesk shows that it supports is at $5,900 while resistance is at $8,600.
The five biggest cryptocurrencies comprise around 77% of the market cap with Bitcoin accounting for about 45% of total market cap. Bitcoin dipped to as low as $7,325 over the weekend before rebounding, and is currently trading at around $8,200 as of this writing.
BTCPHP: 448,510 / 416,650
USDPHP: 51.982
BTC market cap: $139B
Crypto market cap: $311B
Bitcoin In Supported News:
1) Paypal co-founder Peter Thiel looks to gamble on Bitcoin
Believing it's like Gold in the Future, Peter Thiel seek it was “hedge of sorts against the whole world going falling apart.” While Thiel is bullish on bitcoin, he’s skeptical on the altcoins, saying “I’m not sure I would encourage people to run out right now and buy these cryptocurrencies,”. Thiel’s Founders Fund is invested in bitcoin, buying about $15–20 million worth last January.
2) The US Congress’ 2018 Joint Economic Report included for the 1st time cryptocurrencies and blockchain technology.
The annual economic report is an assessment of the nation’s economic status and recommendations for the upcoming year. The report noted the cryptocurrencies’ rise to prominence last year as well as recommendations to lawmakers and the public to become more familiar with cryptocurrencies and blockchain due to its “wide range of applications in the future.”
3) The US SEC Enforcement Division working on dozens of cases in the cryptocurrency world
The US SEC Enforcement Division Co-Director, Stephanie Avakian said that they are active and that they would expect to see more and more cases. The commission has brought more than a half-dozen cryptocurrency-related actions against companies since September 2017, according to Bloomberg Law’s ICO Developments Tracker.
Notes and Disclaimer:
If you like what you read here, please consider follow me.
Invest in bitcoins (or in any altcoins) only the amount you can afford to lose!
Don’t put all your eggs in one basket. Spread your bitcoin and cryptocurrency investment.
Before investing in any cryptocurrency, check the people behind it, its mission, and other details to ensure that they are worth investing for. Don’t invest in something you don’t know.
This article is for informational purposes only and does not constitute an investment advice. Your actions are solely your own responsibility. There is no substitute for doing your own research.
For future viewers: price of bitcoin at the moment of posting is 8300.30USD
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