Market Review. Results of the Day. Medium-term Growth.
April 20, 2018
BCH has been growing for the third straight day (+13.80%). The trading volume has also continued to grow.
Leaders of today's growth are XRP and EOS, their prices increased by 17.80% and 19.10% respectively. Trading volumes grew as well.
EOS broke out from the resistance level of $10. The next significant level is $15, the support level is $8.
XRP has reached the resistance level of $0.9, the support level is $0.65.
Bitcoin support level is $7,800, resistance level is $8,500, target level is $10,000.
The market entered the mid-term growth phase, so one can forget about short-term trends and check daily timeframes to determine trends, support and resistance levels and start to do more significant moves. Growing trading volumes add more confidence.
The amount of funds raised through ICOs in first three months of 2018 is more than in 2017. A total of $6.3 billion has already been risen, which is 118% of the amount of raised through ICO funds in 2017.
Bloomberg reports that Bitfury and Bitmain drive out small companies from the cryptocurrency mining market. This can lead to the consolidation of the market and increasing of market shares and profits of giant companies.
CEO of Monex, an online brokerage company, that recently bought the Coincheck cryptocurrency exchange, says that cryptocurrency regulation should and will become stricter, as cryptocurrency exchanges are similar to banks, therefore the regulation of them must be as tough, as the regulation of banks.
Korean Customs Service toughened the import of cryptocurrency mining chips.
South Korean court fined two men for the creation of cryptocurrency pyramid scheme. They stole $20 million from citizens.
Bithumb plans to issue its own cryptocurrency, Bithumb Coin. The trend of cryptocurrency exchange tokens, that was set by Binance, is going mainstream.
Speaking about Binance, according to some reports, the exchange refused to add fiat currencies.