During the past week, the market was in an upward trend for most of the week. The overall market cap increased 9% to $278 billion. Bitcoin is up 6% to $6,700 and ether price increased 7% to $480.
Volume wise, it was slightly higher than the past couple of weeks but still below the level we saw earlier the year. In terms of search volume on Google for “Bitcoin” (which is an indicator of average Joe’s interest in the space), it has been flat for a couple of months and in fact similar to the level one year ago.
Without new interest (and money) coming in, it is probably difficult for the general market to move up as a whole.
South Korea Legitimizes Blockchain Industry With Major New Classification Standards: https://cointelegraph.com/news/south-korea-legitimizes-blockchain-industry-with-major-new-classification-standards
BIS Chief on Cryptocurrency: “Stop Trying to Create Money”: https://cryptoslate.com/bis-chief-on-cryptocurrency-stop-trying-to-create-money/
Mining Giant Bitmain Valued at $12 Billion in New Funding Round: https://www.coindesk.com/report-mining-giant-bitmain-valued-at-12-billion-in-new-funding-round/
Main Swiss Stock Exchange to Launch Distributed Ledger-Based ‘Digital Asset’ Exchange: https://cointelegraph.com/news/main-swiss-stock-exchange-to-launch-distributed-ledger-based-digital-asset-exchange
Expedia Stops Accepting Bitcoin, Driving Users to Alternative Travel Sites: https://www.ccn.com/expedia-stops-accepting-bitcoin-driving-users-to-alternative-travel-sites/
Winklevoss Twins Hire Former NYSE Tech Executive as CTO of Gemini Exchange: https://cryptoslate.com/winklevoss-twins-hire-former-nyse-tech-executive-as-cto-of-gemini-exchange/
Facebook’s Blockchain Division Has a New Director of Engineering: https://www.ccn.com/facebooks-blockchain-division-has-a-new-director-of-engineering/
Binance ‘Expects’ 2018 Profits up to $1 Billion: https://cointelegraph.com/news/world-s-largest-crypto-exchange-binance-expects-2018-profits-up-to-1-billion
DxChain ICO Review: https://crushcrypto.com/dxchain-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.