The market is waiting for news
Bitcoin (BTC) continues to be in the “red zone.” At the end of the business week, market participants do not yet risk buying the popular cryptocurrency. You can also see the presence of “digital gold” within the trading range of $3,740 – $ 3,575. Thus, the waiting position of market participants is emphasized.
Other cryptocurrencies showed uncertain trading dynamics. The growth leader for yesterday was the EOS coin – it is trading at around $2.82 with a change of + 0.52%. The worst trading dynamics was shown by Lightcoin (LTC) – it stopped near the mark in the range of $42.68 with a change of -0.24%.
The level of capitalization of the cryptocurrency market has not yet declined; the figure stays at $120 billion. It should be noted that market participants are not going to leave the previously purchased coins.
Luxembourg passes the Blockchain Law
From the news, we would like to point out the fact that the Luxembourg Parliament has approved the bill that regulates the use of the blockchain. The matter affects the financial and banking sectors in particular. The document was focused on the transparency and convenience for market participants to minimize the role of intermediaries.
Bitcoin continues to trade timidly. The price chart failed to reach the important support at around $3,575 but did not even try to reach the resistance at $ 3,740. If there is a confident passage of the key level, the prospect of achieving resistance in the range of $3881 will arise.
There is uncertainty in the cryptocurrency market, despite the growth of the fundamental component. Another piece of positive news can strengthen the Bitcoin’s position.