Ripple and SWIFT are unable to agree
The world’s attention focused on the mid-term elections in the United States who had surprised the experts, a fully matching the expectations – the party of leading Democrats, Republicans lose their majority in the House of representatives.
The traditional financial markets reacted to the preliminary results of the midterm elections is ambiguous – the dollar traded very volatile, the stock market of America will be held in the area reached highs.
And the cryptocurrency market, traditionally remain aloof from classic instruments. Capitalization rose slightly, reaching $220 billion in the aggregate. In this case, leading cryptocurrency of the TOP 10 Coinmarketcap are in the green zone – the price of Bitcoin rose by +1,59% in the last 24 hours, reaching $6522.
Puncture resistance local resistance at $6448 growth rates above, from the point of view of technical analysis, suggests that the next upside target tools BTC/USD will be around $6800.
It is important to note that, contrary to the hopes of many traders at the beginning of the long awaited reversal rates of cryptocurrencies for the global reversal is premature. Even in the case of reaching the level of $6800 it will be only a movement to the upper boundary of the sideways movement, formed in early September.
That is, the first step on the path to growth (assuming that it ever takes place), should be a break of the resistance side of the corridor is $6800, after which a further object and an important milestone towards the formation of a new trend will be around $7400. And soon after BTC will surely fixate above this zone, we can talk about long-term growth prospects.
The news of the cryptocurrency industry is relatively scarce. Of particular interest are reports refuting the rumors about cooperation Ripple and SWIFT, and there is no intention of the latter to be part of RippleNet. The news had little impact on quotes of the XRP, which are held at the level of the maximum values for the month. Coin added to 1.33% for the day and week but growth was +21,73%. The price of XRP/USD at the time of preparation of the review is $0,5380.
In General, the cryptocurrency market has remained stable and is still waiting for a technological breakthrough that will accelerate the implementation of underlying assets or derivatives. The correlation of bitcoin with other cryptocurrency remains high, because the news about the launch of ETF funds with underlying assets in BTC will be able to revive the entire market. Have to wait start Bakkt and decisions of the SEC. And if the first we need to see more this year, for the second perhaps you should be patient at least until spring of next year.
“International Financial Center”