crypto washington

Crypto Update: Surprising Sounds of Support in Washington

CFTC Chairman Giancarlo pointed out Blockchain transactions have a future in global transactions and cryptocurrencies would be part of the equation.

CFTC Chairman Christopher Giancarlo Highlights Use of Blockchain, Cryptocurrencies Stabilize

Yesterday’s Congressional hearing in Washington focusing on cryptocurrencies and Initial Coin Offerings gave hope to traders. CFTC Chairman Christopher Giancarlo essentially said that the U.S government has a responsibility to allow Blockchain and cryptocurrencies to function, but that careful supervision and vigilance are needed. He highlighted a recent grain deal which was conducted by the company, Dreyfus, and China which used Blockchain to complete the transaction. Cryptocurrency prices have stabilized and seen some upwards movement short term.

Ethereum Recovers from Lows and Bounces Higher on Hearing Outcome

After testing important support yesterday, Ethereum has bounced higher and is trading near the 800.00 U.S Dollars per coin level. Ether dropped to approximately 575.00 yesterday, but like other cryptocurrencies saw its value rise upon the outcome of the Congressional hearings in Washington. Resistance appears to be near 975.00 U.S Dollars for Ethereum.

ETH 4H Chart
ETH 4H Chart

Augustin Carstens Says Cryptocurrencies are Vulnerable

Augustin Carstens, the head of the Bank of International Settlements, said Bitcoin and other cryptocurrencies pose a threat to finance yesterday because of their vulnerability. He outlined in a speech given in Frankfurt that the lack of institutional infrastructure surrounding digital currencies and their payment systems, need to be safeguarded from criminals.

Gibraltar Get Together for FinTech Enthusiasts

A get together in Gibraltar will take place on February the 8th for Bitcoin and Blockchain enthusiasts.

  • 8th, Gibraltar, Blockchain & Bitcoin Conference

Yaron Mazor is a senior analyst at SuperTraderTV.

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Yaron Mazor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology and education. Ten years ago, Yaron sold all of his businesses and became a trader. Yaron started an education provider that taught thousands of people worldwide how to trade. Since then, he has traded every single day across every imaginable financial instrument Organic Trading System (OTS) is an unprecedented, new paradigm of trading technique, developed by Yaron Mazor. The trading system utilizes a combination of essential resources of market data (Fundamental, market participant sentiment and the basic concepts of trends), which are harmonically coordinated, in order to enable a relatively fast, simple and easy way to decide which side of the market to be trading from – the Buy side or the Sell side.