14.12.2017. Results of the Day. Bitcoin: Calm Before the Storm

December 14, 2017

14.12.2017. Results of the Day. Bitcoin: Calm Before the Storm

14.12.2017. Results of the day. Bitcoin - calm before the storm.

BTC $16 575.93 + 0.8%
$13 593 400 000 + 0%

ETH $670.00 + 3.36%
$3 976 440 000 + 18%

Growth leaders:

Bitcoin Cash + 16%

NEO + 11%

Ripple + 79%

Market Overview

  • Deutsche Bank and UBS warn about Bitcoin collapse in 2018. At the same time, Christian Nolting from Deutsche Bank spoke positively about blockchain technology, and according to Peter Stephens, the head of UBS's blockchain research and development efforts, the banks face a common challenge, and Ethereum will help them solve them.
  • Chris Giancarlo, head of the Commodity Futures Trading Commission of the United States (CFTC) said his department was unable to effectively regulate the cryptocurrency. But South Korea radically disagrees with him. Following the results of yesterday's emergency meeting on the issue of trading cryptocurrencies it is preparing to impose a profit tax on trading Bitcoin and other digital currencies.
  • While Bitcoin network is dumped, the exchanges complain about DDoS attacks, and Bittrex users face withdrawal problems, the head of Interactive Brokers Thomas Peterfi said that the company, whose share in the turnover of Bitcoin futures on the CBOE exchange reaches 53%, will allow its customers sell a bear, i.e. open short positions on these contracts.

Technical view

Today Bitcoin's "flat" continued in the range of $16 000 - $17 200. Since December 12, its volatility has been declining, trading volume is at a high level. The "spring" is coiling again. Trade suspension in the range at high volumes can talk about the struggle for the future. The winner will be known very soon. Bitcoin trade in the narrow range from level to level hardly looks attractive, therefore speculators are most likely to be waiting for an exit from the range, then they will start to perform actively.

Ethereum did not show a decent result today either. Bidding runs in a wide range of $660 - $740. Returning the price to the highs tonight, buyers could not gain a foothold above $700 and were forced to retreat under the sellers' pressure. The price approached closely to the level of $650, and in case of its breakdown, we can see a quick move to the level of $580.


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