Bitcoin and Ethereum: new heights

BTC and ETH showed new price heights on the background of upcoming big events
13 October 2017   3418

Bitcoin price

Today, October 13, the rate of the Bitcoin confidently surpassed the level of $ 5500 and fixed a historic high at the mark of $ 5920 (Bitfinex exchange):

Bitfinex
Bitfinex Bitcoin Chart

On the hourly chart, a correction of the price with consolidation around $ 5550 is clearly visible.

As for other popular stock exchanges, such as Poloniex and Bitstamp, then on these trading floors the price did not reach such high values. The maximum bitcoin was slightly lower, near $ 5,800.

Thus, the price set the resistance level at $ 5800-5900. A strong support level is in the region of $ 4800-5200.

The current rise in the price of the first crypto currency is largely due to the approaching probable hardfoot Segwit2x. It is possible that investors are buying bitcoin in the hope of obtaining an equivalent amount of "alternative bitcoin," as it was in August this year.

Another important factor in price growth is the gradual growth of SegWit-transactions in the bitcoin network:

SegWit Charts
SegWit Charts

The graph shows that the share of SegWit-transactions in the bitcoin network already exceeds 10%.

According to the Coinmarketcap service, the current value of bitcoin capitalization is $ 95B. The aggregate capitalization of the crypto-currency market is $ 169.8 billion.

Ethereum price

Etherum gained more than 6% in last 24 hours, showing the rapid price rise. 

Ethereum Charts
Ethereum Charts

At the moment, average Ethereum price is $325.48 with historic maximum at $386.83 (was reached at Aug 31 2017). Market cap is more than $30B and 24h trading volume is almost $1B. 

Main reason of Ethereum price rise can be upcoming hardfork called Byzantium. At the moment, Byzantium launch is planned on the October 16, 2017. 

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   308

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.

 

People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.