So what happened this past week in crypto?
G20 Financial Stability Board Rejected Calls for Cryptocurrency Regulations
According to Reuters, on March 18th, the FSB rejected calls for cryptocurrency regulations from several countries who want to regulate bitcoin and other digital assets. The FSB also stated that there was need for greater international coordination in monitoring these evolving technologies.
UK’s Barclays Enters Partnership with Coinbase
On the 13th of March, the cryptocurrency exchange Coinbase signed an agreement with Barclays. The partnership between Coinbase and Barclays aims to simplify the process of deposits and withdrawals for Coinbase’s UK clients.
Big day for Bitcoin. Lightning goes live on mainnet!
The Bitcoin lightning network went live on Mainnet starting 15th of March, announcing the release of 1nd 0.4-beta. The lightning network will help speed up transaction times on the bitcoin network and lower network fees.
Ripple XRP To Invest In Startups
Ripple invested $25 million into San Francisco storage firm Omni. In return for these funds, Omni will integrate the Ripple platform for use with its own business, and will start accepting cryptocurrency transactions.
Wall Street Starts Trading Bitcoin
Jane Street Capital, an investment house on Wall Street, has started trading digital currencies. Jane Street claims that they trade $13 billion every day across EFTs, equities, futures, bonds, and now bitcoin.
Paypal co-founder calls Bitcoin Gold
Peter Thiel, who is the co-founder of Paypal, is betting on Bitcoin to become a new standard of digital gold, as recorded by his statements made in a fireside chat at Economic Club of New York.
Twitter prepares ban on cryptocurrency ads
Twitter is preparing to stop advertisements for ICOs, token sales, and cryptocurrency wallets thanks to its new advertising guidelines published on the 18th of March. Twitter may also impose bans for cryptocurrency exchanges.
Playboy TV – Now Accepting Cryptocurrency Payments
The adult content network, PlayboyTV announced that by the end of the year, the company will launch a cryptocurrency wallet. Users can view, vote, or comment on their channels using Vice Industry Tokens (VITs).
Morgan Stanley: Bitcoin’s Price Story Is ‘Nasdaq 15 Times Faster’
In a note posted by Morgan Stanley on March 19th, Sheena Shah stated that the Bitcoin prices are behaving in a “surprisingly similar” way to the Nasdaq in 2000, and that the events were unfolding at “around fifteen times the speed.”
Hong Kong Securities Regulator Shuts Down ICO, Makes Company Issue Refunds
In Hong Kong, the Securities and Futures Commission (SFC) stopped Black Cell Technology’s Initial Coin Offering (ICO) on the basis that the offering was an unregistered Collective Investment Scheme (CIS), according to a SFC website bulletin posted on March 19.
In the past week the price has lost support level around $ 8,500 where lies the resistance from previous market update at the end of the triangle, the price dropped to a low of $7325 (Bitstamp) but did not stay there much time. The support is built around $ 7,700 (marked with a yellow line). In this range, it appears that resistance lies at $ 8500 – where we are at now. The next resistance areas are around $9300, this in case support holds above $ 8K.
Against the dollar, it was not an easy week for ETH holders. The price continues to dive. Support around $ 680 also did not hold much and the value had plunged to a low of $ 454 (Poloniex), from there it quickly returned back to support at $ 500. If the price will not hold on $500 support level, $400 looks like the next target. Resistance lies around $ 560.
Against bitcoin, Ethereum suffers a free fall. All support levels have been broken. If the value does not hold around 0.06BTC, the price will continue to levels marked in red. Resistance in this range lies around 0.066BTC.
Against the dollar, support at around $ 950 got broken. After dropping to $850 low, it seems demands came in quickly and BCH seems to be returning up to $1000 area. Resistance lies at $ 1100.
Against Bitcoin, traded safely around 0.115BTC. Resistance lies at 0.125 and support at 0.11BTC in this range.
Against the dollar, the coin is traded around $ 8.8. Support lies at $ 7.5, resistance at $ 10 in this range. We see an increase in volume and it seems that a rising trend is developing.
Against Bitcoin, BNB had increased last week from 0.00087 BTC to 0.0012 BTC. Now traded around 0.001BTC, seems to get nice demands around these areas.
Against the dollar we seem to have reached a low. On the daily chart, support at around $ 3 is no longer there… and the price is around $ 2 with support in the range around $ 1.5 and resistance at $ 2.5.
Against Bitcoin, we are at an interesting point on the weekly chart. The first green candle appeared after two months of decreasing low volume of declines. Support is not far from where we are – around 0.00024BTC. Resistance in this range 0.00026 BTC strong support at 0.0002 BTC.
Source: Crypto Potato