The cryptocurrency market was more or less flat during last week, with the overall market increased by 2.8% to $261 billion. Bitcoin rose 2% to $6,900 while ether price increased 3% to $390.
The biggest news last week was that India’s central bank, Reserve Bank of India (RBI), issued a statement about entities regulated by RBI shall not deal with or provide services around cryptocurrencies. The market dipped briefly following the news but rebounded fairly quickly after a day.
The market has been relatively stable in the past week, which is a positive sign because investors can slowly gain confidence when the market consolidates and stops declining.
Like we said during last week’s commentary, while it is unclear whether we are at the bottom, we believe that right now is a good entry point if you are looking to invest for the long term.
SEC Charges Founders of Centra Tech, Which was Promoted by Floyd Mayweather Jr. and DJ Khaled, with Fraud: https://gizmodo.com/sec-charges-founders-of-cryptocurrency-ico-promoted-by-1824269530
India Bans Bitcoin Wallets, Bank Funding, All Cryptocurrency Services: https://www.zerohedge.com/news/2018-04-05/india-bans-bitcoin-wallets-bank-funding-all-cryptocurrency-services
BitPay Raises $40M in Series B Funding to Expand into Emerging Asian Markets: https://bitcoinmagazine.com/articles/bitpay-raises-40m-series-b-funding-expand-emerging-asian-markets/
Vitalik Buterin and Joseph Poon Call Out Craig Wright at Deconomy 2018: https://bitcoinmagazine.com/articles/vitalik-buterin-and-joseph-poon-call-out-craig-wright-deconomy-2018/
George Soros Prepares to Trade Cryptocurrencies: https://www.bloomberg.com/news/articles/2018-04-06/george-soros-prepares-to-trade-cryptocurrencies-as-prices-plunge
Monero Fork Underway In Bid to Block Big Miners: https://www.coindesk.com/monero-community-holds-breath-as-contentious-hard-fork-activates/
SEC Considers Rule Change to Allow Bitcoin ETFs: https://www.investopedia.com/news/sec-considers-rule-change-allow-bitcoin-etfs/
Articles From Crush Crypto
Sentinel Protocol ICO Review: https://crushcrypto.com/sentinel-protocol-ico-review/
Morpheus Labs ICO Review: https://crushcrypto.com/morpheus-labs-ico-review/
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.