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While good news seem unlikely to move the market with significant force, the pressure is indicative of the state of the BTC/USD currently. Bitcoin price dynamics show a downtrend that is prevalent from $6,660 – $6,380 – $6,340, testing support levels at $6,220 and $6,290. An uptrend is also visible, providing support from $6,185 – $6,220 – $6,340. Resistances are visible at the $6,410, $6,480 and $6,660 marks. The is denoting a crossover downwards and the is flashing a sign. (Source: https://ambcrypto.com/bitcoin-btc-usd-te...)
In an official statement, the Ukranian government confirmed its plans to establish regulatory frameworks to legalize crypto in the region. As a part of an initiative to consider and acknowledge cryptocurrency as an emerging technology, the Economic Development and Trade Ministry in Ukraine released a new state policy to oversee various cryptocurrency-related sectors which will be put in full effect by the end of 2021. Throughout 2018 and 2019, the government of Ukraine will integrate regulatory frameworks to strictly govern the local cryptocurrency exchange market. Crypto trading platforms will be required to implement Know Your Customer and Anti-Money Laundering systems to help local authorities monitor the market. By 2020, the government plans to delve into the cryptocurrency mining industry, smart contract protocols, and taxation, as the second part of the initiative to recognize cryptocurrencies as an asset class and an established industry. (Source: https://www.ccn.com/ukraines-new-policy-...)
Last September saw the Korean government ban ICOs in the Asian country. This decision was reached as the government saw this form of crowdfunding as gambling, fraud, and speculation. It’s something that was greeted with strong backlash from many domestic blockchain startups. The government has been under constant pressure especially from the opposition party as some members have started to advocate for the legalization of ICOs. With the incumbent government struggling with economic issues including skyrocketing housing prices and a decline in employment, now members of the opposition have spotted an opportunity that allows them to paint themselves in a good light. However, in a recent interview with CoinDesk Korea, Min Byung-doo, a member of the ruling party, has spoken out in favor of ICOs. He is also the chairman of the National Policy Committee an agency that is considered as the first hurdle to be cleared by those that hope to enact legislation of crypto exchanges or ICOs. (Source: https://usethebitcoin.com/korean-chairma...)
Ripple, the company behind XRP, the third largest crypto currency in the world, is reportedly planning to open a new office in Dubai. Dilip Rao, Ripple’s global head of infrastructure innovation, has been widely quoted as saying Ripple is "seriously planning to enter the Middle East market", with a Dubai office opening by the end of this year. His comments were taken from a speech at the Global Islamic Economic Summit 2018 last week. Dubai would join Ripple's network of offices in San Francisco, New , London, Sydney, India, Singapore and Luxembourg. According to reports, Rao highlighted the importance of the Middle East as a new market for the company. (Source: https://www.arabianbusiness.com/banking-...)
The following is a scheduled notification from the Osiris team. Our models have been working hard and smart on forecasting the market, and here are the most up-to-date predictions for the next 3 hours:
As usual, red, green and blue rectangles demonstrate predicted values of low, high and close, respectively, with corresponding confidence intervals, and the black arrow illustrates our trades.
According to our machine learning models, the system has recommended to buy and hold within this three-hour period.
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