Monday passed in an upward manner and brought the tag to the 6730 height, at the end of the day the price settled at the 6660 level. The overall point of view did not change as correction zone extends to the 6800 level and this movement was in the correction bounds. After 6800 level BTCUSD will meet the resistive zone 6800-7000, which also contains 100-days , only after trespassing of this zone any developments should be considered. From below, 6600 level now turned supportive.
Today most probable trading diapason: 6600 - 6800.
- In Europe, ICOs will be regulated till the end of the year
The 2018 Year has become a year of the ICO crashes. As the 2017 year brought huge investments almost to any ICO on the wave of bitcoin popularity, 2018 year got hit by the inability of the major part of ICO project to derive promised results. The fall of confidence in the such projects also had a negative impact on the price of Bitcoin and the main ICO currency Ethereum . For now, it is obvious, that further existence of ICO market will need a much stronger regulation.
European Security commission promise to come out with the regulatory rules for the ICO projects till the end of the year.
European regulators are trying to figure out whether ICO should be regulated as a sale of securities and how to take into account the specifics of each particular case, reports Reuters.
The Chairman of the European Securities and Markets Authority (ESMA), Steven Maijoor, in his speech in front of the Economic Affairs Committee of the European Parliament, said that some ICOs are very similar to financial instruments that are placed within a certain regulatory framework. However, the regulator has yet to determine how to regulate those ICOs to which such rules of law are not applicable.
“The subsequent question is what do we do with those ICOs that are outside the regulatory world. We will assess that as a board. We expect to report by the end of the year.” - Maijoor told the European Parliament’s economic affairs committee.
Recently it was reported that next year ESMA intends to allocate significant funds for monitoring cryptocurrency and Fintech innovations. In addition, the organization is ready to hire additional staff to accomplish the same goals.