The cryptocurrency market went up for most of the week before giving up some of the gain towards the end of the week. The overall cryptocurrency market cap rose by 1% to $438 billion. Bitcoin remained flat at $9,300 while ether price increased by 10% to $750.
According to The Wall Street Journal, the SEC and CTFC will discuss whether ether is considered a security on May 7. We believe that the dip towards the end of the week is due to some investors reducing their exposure until the meeting is over, in case any bad news come out.
As stated before, we prefer to see the market consolidates for a while before having another leg up, rather than having the market swing wildly in one direction or another. With that said, the market is definitely at a risk-on sentiment and are looking to increase exposure.
Telegram Cancels Public ICO: https://cryptoslate.com/telegram-cancels-public-ico/
South Korea Bill Pushes Legalization of New ICOs after 2017 Ban: https://www.ccn.com/south-korea-bill-pushes-legalization-of-new-icos-after-ban/
Hong Kong Gov’t Report Says Bitcoin Poses ‘Medium-Low’ Risk In Financial Crime: https://cointelegraph.com/news/hong-kong-govt-report-says-bitcoin-poses-medium-low-risk-in-financial-crime
Reddit Plans to Take Bitcoin Once Again—Along With Litecoin and Ethereum: http://fortune.com/2018/05/03/reddit-accepting-bitcoin-litecoin-ethereum/
Japanese Regulators Discussed Restricting Trade Of Privacy-Focused Altcoins, Report Says: https://cointelegraph.com/news/japanese-regulators-discussed-restricting-trade-of-privacy-focused-altcoins-report-says
Goldman Sachs Is Said to Add Cryptocurrency Trading Desk: http://fortune.com/2018/05/02/goldman-sachs-cryptocurrency-trading-desk/
Morgan Stanley Wants To Beat Goldman Sachs To Crypto Trading Riches: https://theicojournal.com/source-morgan-stanley-wants-to-beat-goldman-to-crypto-trading-riches/
RightMesh ICO Review: https://crushcrypto.com/rightmesh-ico-review/
Crush Crypto Core April 2018 Report: https://crushcrypto.com/ccc-april-2018/
Atonomi ICO Review: https://crushcrypto.com/atonomi-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.