We need more: regulation, options, solutions...

We need more: regulation, options, solutions...

Trading crypto at Yahoo! Finance, new EU regulations, India's report on trading, DNA-storage for crypto, tightening from Russia, Bitmain adding ETH and ETC

  • Yahoo! Finance users can now trade cryptocurrencies. Definitely bullish news, as Yahoo! Finance is one of the most popular financial observers in the U.S.
  • EU is back at it again with new crypto regulations. Will it affect bitcoin price? We can only speculate.
  • Reserve Bank of India is expecting a shift to P2P trading. This makes sense, for it offers better efficiency, anonymity, cheaper fees, and improved overall convenience.
  • Startup offers storing crypto in DNA. This all looks shady but some people already gave it a try. As a rule, do your own research.
  • Russia will monitor criminal suspects’ crypto wallets. Russia will dedicate over 195M roubles (~$2.8M) of state funding. It is still unknown who will be receiving the funding or whether the agency will track their own wallets.
  • Bitmain’s BTC.com will mine ETH and ETC. They are a bit late to the party but, considering the scale of the company, they have all chances to catch up to competitors. Such news tended to bump up the price in the past.

BTC

8,744 USD
0.38%

ETH

272.72 USD
-0.09%

ETC

8.24 USD
1.31%

DASH

170.40 USD
1.94%

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Bitcoin And Crypto Market Cap Facing Hurdles: BCH, Litecoin, TRX, XLM Analysis

The total crypto market cap corrected a few points, but it faced a strong resistance near $215.0B. Bitcoin price is also correcting higher, but it is likely to struggle to clear the $8,200 resistance. Litecoin (LTC) price is now facing resistance near the $55.50 and $56.50 levels. BCH price is holding the main $215 support area and it is currently rebounding. Tron (TRX) price is climbing higher and it is now placed nicely above the $0.0150 level. Stellar (XLM) price is up more than 2% and it is moving towards the $0.0650 resistance. The crypto market cap and bitcoin (BTC) are facing many hurdles on the upside. Ethereum (ETH), litecoin (LTC), ripple, BCH, tron (TRX), stellar (XLM) and other altcoins could struggle to climb higher. Bitcoin Cash Price Analysis BCH price corrected lower recently and tested the $215 support area against the US Dollar. The price is currently moving higher and is trading near the $220 level. On the upside, there is a major resistance near the $230 level, above which the price could recover towards the $240 level in the near term. On the downside, if there is a bearish break below the $215 support, the price could decline towards the $205 and $200 support levels. Litecoin (LTC), Tron (TRX) and Stellar (XLM) Price Analysis Litecoin price managed to stay above the $51.50 and $50.00 support levels. LTC price is currently recovering and is trading above the $54.00 level. However, there are a few key hurdles near the $55.50 and $56.00 levels, above which the price could revisit the main $60.00 resistance area. Tron price declined recently and tested the $0.0145 support area. TRX price remained well bid and recently started a nice upward move above the $0.0150 resistance area. The price is up more than 3% and it could continue to rise towards the $0.0155 resistance level in the near term. Stellar price also declined recently and tested the $0.0600 support area. XLM price is now climbing higher and is trading above the $0.0625 resistance area. However, there is a major resistance near $0.0650, above which the price could continue to rise towards $0.0682 and $0.0695. Looking at the total cryptocurrency market cap 4-hours chart, there was a decent recovery from the $205.0B support area. However, the market cap struggled to clear a key resistance near the $215.0B level and the 100 SMA. Moreover, there is a connecting bearish trend line forming with resistance near $215.0B. Therefore, a clear break above the $215.0B resistance is needed for a nice rally in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, BNB, TRX, ADA, XMR, and other altcoins in the coming sessions. Bitcoin And Crypto Market Cap Facing Hurdles: BCH, Litecoin, TRX, XLM Analysis was last modified: October 18th, 2019 by Aayush JindalThe post Bitcoin And Crypto Market Cap Facing Hurdles: BCH, Litecoin, TRX, XLM Analysis appeared first on NewsBTC.
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