- FINRA, an American regulator of brokerage firms and exchange markets, encourages brokers to disclose any activities connected with digital assets
- London School of Economics has introduced an online certified crypto course
- Bitcoin displaces a national Nigerian currency
The cryptocurrencies market is going down. Over the past 24 hours a majority of cryptocurrencies experienced further falls. The capitalization of the whole market sits a notch above $250 billion while capitalization excluding Bitcoin stands above $140 billion. Despite of this year’s huge drops cryptocurrencies keep drawing attention from the most prominent institutions around the world for instance from universities. The British LSE wants to introduce virtual currencies on its academic stage.
Firstly, let’s go to America. The Financial Industry Regulatory Authority (FINRA) published a notice on digital assets. The American Authority encourages brokerage firms to disclose any connections with virtual assets. It has been observing a cryptocurrency market with special attention. FINRA is a non-profit organization authorized by the Congress. It takes care of American investors. Notice that in the US there are more authorities keeping an eye on virtual assets. In turn, some countries find them (cryptocurrencies) problematic because of a lack of law regulations.
The most famous cryptocurrency is decreasing this week. Today, BITCOIN sits a notch above $6300. On the chart (a H4 interval) we can see quite a clear break of the 33-period moving average (a purple line). Perhaps, the current price action will lead to a next downtrend. Source: xStation5
London School of Economics, one of the best British universities in economic sciences, introduces new online crypto classes. A course is titled “Cryptocurrency Investment and Disruption”. The London’s educational giant joins an array of universities offering courses related to virtual currencies all over the world. This information shows how much the academic society has already involved in digital currencies. The world’s best universities such as Cambridge, Stanford, Wharton are offering similar crypto courses. One can arrive at a conclusion that one day cryptocurrencies could be a obligatory part in a majority of bachelor or master courses in the world.
ETHEREUM is following Bitcoin and falling back as well. It sits a notch above $430. Like a Bitcoin, Ethereum broke the 33-period moving average on a H4 interval (a purple line on the chart). It seems that a previous trend line was durably damaged. In the next days, a situation may clarify. Source: xStation5
Cryptocurrencies are more and more popular every day. The interesting informations confirming this thesis come for example from Nigeria. In this African country Bitcoin may actually become more popular than official domestic currency, Naira. A major virtual currency fluctuates sometimes less than the Nigerian currency hence local investors are increasingly choosing Bitcoin to run its companies. On Monday, we described the impact of cryptocurrencies for some Japanese regions. Today, we are presenting another tangible reason that cryptocurrencies can affect the real economy. Cryptocurrencies may be a good alternative for regional currencies of poor and unstable countries. Their currencies are often volatile because of irresponsible government’s decisions or local tensions. The digital currencies which are free of authorities decisions may help those regions restore stabilization.
Yesterday, LITECOIN was testing a lower bound of a downward channel (an orange area). Now, the digital currency is returning to a previous channel. It is trading around $75. A channel has yet to be clearly broken thus the virtual currency may continue moving within the previous channel. Source: xStation5
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