Cryptocurrency Brief: Bitcoin recovers after Google plans to allow certain crypto ads, SC to hear final petitions against RBI’s crypto exchange ban today – Wednesday, September 26th, 2018
Wed, 26 Sep 2018, 12:00 pm UTC
BTC/USD: Bitcoin prices returned to its green trading zone during late European session Wednesday, amid an increased level of regulations from various global financial authorities. The cryptocurrency broke below the 6,500 mark yesterday and is once again hovering around that mark at the time of writing. The slight recovery also comes after global search engine giant Google seems to take off some of the bans it imposed on cryptocurrency advertisements, albeit under the banner of certain regulations, CryptoDaily reported. At the time of writing, BTC/USD gained nearly 1 percent to $6,503.00. Meanwhile, the near-term support is seen at $6,300.00 and resistance at $6,700.00.
Market Update: According to a report from CryptoGlobe, the Supreme Court of India is most expected to be able to hear today the final arguments from those opposing the ban imposed on cryptocurrency exchanges by the Reserve Bank of India (RBI).
According to an exclusive news from Financial Times, reported by CryptoGlobe, a spokesperson of the Winklevoss Twins’ regulated cryptocurrency exchange "Gemini" released a statement, in response to rumors of a possible expansion into the UK, saying, "Gemini continues to explore potential jurisdictions around the globe to provide a best-in-class digital asset exchange and custodian which will enable growth and infrastructure to the entire digital asset community. Although we have no immediate plans, we will always evaluate opportunities that allow the global economy to buy, sell and store digital assets in a regulated, secure, and compliant manner".
ETH/USD: Contrary to Bitcoin prices, Ethereum suffered, albeit proportionately lower than that yesterday, but marking the third consecutive day of fall, tracking bearishness from the increased means of regulations and monitoring from financial authorities. At the time of writing, ETH/USD fell 1.35 percent to $216.31; the day’s high was seen at $219.80 and low at $207.31. Meanwhile, the near-term support is seen at $200.00 and resistance at $230.00.
XRP/USD: Ripple, surged during Wednesday’s afternoon session, following Coinbase’s announcement that it will list a number of new assets on the exchange, citing a chief request from one of its customers, a report from CCN stated. Further, the firm said, "Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner. With this shift in process, our customers can expect us to list most assets over time that meet our standards". At the time of writing, XRP/USD surged 5.30 percent to $0.55119. Meanwhile, the near-term support is seen at $0.4300 and resistance at $0.6300.
BCH/USD: Bitcoin Cash, remained flat during late afternoon trade Wednesday amid a slew of negative news crept into the cryptocurrency market off late. At the time of writing, BCH/USD hovered around $447.00. Meanwhile, the near-term support is seen at $420.00 and resistance at $460.00.
EOS/USD: The EOS, suffered, albeit only slightly, tracking bearish sentiments that lead to a massive sell-off through yesterday, following a range of crypto regulations around the globe. At the time of writing, EOS/USD lost 0.37 percent to $5.4008. Meanwhile, the near-term support is seen at $5.00 and resistance at $5.67.
LTC/USD: Litecoin, remained stuck in a tight trading range, in the aftermath of the panic sell-off seen yesterday after financial authorities decided to gear up their degree of regulations for a better trading and investment experience. At the time of writing, LTC/USD lost barely 0.05 percent to $57.457. Meanwhile, the near-term support is seen at $50.00 and resistance at $61.00.
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