BREAKING: AMAZON LAUNCHING OWN CRYPTOCURRENCY!
Cryptocurrency news for today June 23rd
Bitcoin has risen, but bulls still have a long way to go
PayPal has changed its attitude towards cryptocurrencies
Russian depositors will not convert savings into bitcoins
PayPal will add support for direct buying and selling of cryptocurrencies after years of aggressive policy towards a new type of asset. Bitcoin rallied from recent lows, but the outlook remains bleak as long as the price stays below $ 10,000. Meanwhile, experts doubt that the decline in deposit rates will have a positive effect on the interest of Russian users in cryptocurrencies.
“Reducing bank rates will not affect interest in cryptocurrencies” – CEO of Bistox Exchange
The Central Bank of the Russian Federation decided to reduce the interest rate to 4.5%. This means that in the near future the country’s banks should cut interest rates on deposits. Keeping money in banks will become simply unprofitable. Does this mean that Russians will start looking for a safe haven for their assets in cryptocurrencies? Harutyun Nazaryan, CEO of Bistox Exchange, asked BeInCrypto about this.
Bitcoin’s dominance level will fall
Bitcoin’s dominance level has been following the long-term upward support line since February 14. At the time of this writing, BTCD is directly on the support line, where it has remained since the beginning of this month. The fact that the indicator repeatedly touched the support line but was never able to initiate a rebound suggests the risks of a bearish breakout. Moreover, the 50- and 200-day moving averages have formed a bearish crossover, signaling the start of a downtrend. Both moving averages act as resistance.
The crossover occurred after unsuccessful attempts at a bullish crossover, which only adds to the negative in our short-term forecast. More details
“The increased attention to the legal regulation of cryptocurrencies is a good sign,” – OKEx top manager
Almost simultaneously, bills designed to regulate the turnover of cryptocurrency were submitted by deputies of the State Duma and the Verkhovna Rada of Ukraine. But the content of the documents was fundamentally different. If Ukraine follows the path of legalizing cryptocurrencies and cryptocurrency business, then Russia, on the contrary, is trying to ban the circulation of digital payment assets, which include crypto coins. BeInCrypto discussed the possible implications of the adoption of the draft laws for the crypto industry with Ksenia Oshurko, director of business development in Russia at the international cryptocurrency exchange OKEx. More details
Bitcoin needs to climb above $ 10,000 to break a downtrend
Despite some recovery at the beginning of the week, major digital coins failed to make a significant breakthrough and technical analysts fear that cryptocurrency markets will not be able to get out of the depression for some time..
Judging by the DVAN indicator, which reflects bullish / bearish trends, the Bloomberg Galaxy cryptocurrency index is showing negative dynamics and moving away from the 400 level, which previously served as a resistance point. More details
PayPal and Venmo will allow buying and selling cryptocurrencies
Payment services giant PayPal will offer its 325 million users the ability to buy and sell cryptocurrency directly. This is reported by CoinDesk, citing knowledgeable sources. Currently, PayPal can be used as an alternative means of withdrawing funds from exchanges such as Coinbase, however, cryptocurrency trading through the platform is not currently available directly. More details