Market Review. Results of the Day. Cash for Birthday

April 18, 2018

BTC $8120.88

ETH $515.92

XRP $0.6900

BCH $885.34

LTC $137.69

EOS $8.78

Technical analysis

BCH is the leader of today's growth (13.6%). The trading volume increased by 50%. Yesterday's leaders LTC and EOS has slightly corrected, while their trading volumes fell by 20-30%.

Bitcoin is still trading in the range. Support level is $7,800, resistance level is $8,200.

Forming of a continuation pattern on XRP chart has nearly ended. Support level is $0.66, resistance level is $0.7. The most likely scenario is growing up. A breakout from the resistance level can lead to a growth to $0.9.

BCH has left a continuation pattern and showed a good growth. The target in case of continuation is $1,080.

By the way, April 18 is the birthday of Monero, and XMR grew by 12%.

News background

Localbitcoins has unexpectedly implemented KYC policy. Rumors are spreading that it happened because the government of Finland plans to tighten cryptocurrency regulation. Competitors of Localbitcoins, who let users be anonymous, has increased their daily trading volumes.

Self-regulatory organization of South Korean cryptocurrency exchanges KBA adopted new rules. Now local crypto exchanges must have at least $1.8 million of authorized capital and store information about transactions for five years.

Bithumb stores almost $6 billion in crypto: XRP — $1.6 billion, BTC — $1 billion. ETH, DASH, LTC, ETC, XMR, ZEC, QTUM, BTG, and EOS are following the order.

Telegram CEO Pavel Durov will pay BTC to everyone who help the messenger to avoid ban in Russia.

New York Attorney General Eric Schneiderman sent letters to 13 cryptocurrency exchanges, asking to give information on their operations. Coinbase, Binance, and Bitfinex are the ones who received letters. 

Head of IMF Christine Lagarde believes that cryptocurrency has the potential benefits.


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