Bitcoin: This week another new all-time high record had been reached where on BitStamp we hit $2933 for 1 BTC. After a small 300$ correction, currently looks like stabilization around 2700-2800 levels. Support at 2600 seems to be holding. The price at China is again following the west exchanges as Chinese government approved the withdrawals and deposits from major Chinese exchanges such as OKcoin and Houbi. At the beginning of the year, bitcoin suffered a tremendous correction from 1200 all-time high to 800 as Chinese government suddenly disapproved deposits and withdrawals to and from Chinese exchanges.
There is always action around the crypto world. The political argument seems to end up with soft fork in order to adopt Segwait technology by users. This act, known as BIP 148, will take place 1st of August. In our future report we will discuss this issue.
The Crypto Market: The press reports about bitcoin on daily basis, new money enters the maket and for the first time the Crypto market cap crosses the $ 100 billion line. Where do we go from here? According to what appears now there are no limits. Even AMD and NVIDIA have annouced they will produce series of graphic cards for mining, in addition to existing mining hardware such as motherboards.
Etherium: As reported in our previous weekly update, it appears that we are now under correction to the long term rise, and now been stabilizing around 0.09BTC. The dollar value of ETH is mainly affected by bitcoin.
MAIDSAFE: Unlike most of the altcoins during last month rally, Maidsafe seems like left behind and waits for its moment. Maidsafe is developing decentralized storage of information and internet, read more about MAID on our featured article. Since the run at the beginning of 2017, it is continually trying to break resistance at level of 0.00023BTC. If we do break, there is good chance that next resistance at all-time high of 0.00029 BTC will be reached shortly. Maid’s team is constantly working and developing, just released a project update couple of hours ago.
As of this writing this report, MAID’s market cap is $ 240 million.
Orange represent Bitcoin – Maid price. Green: USD – Maid. Notice also the recent increase of trading volume.
Since our last Market Update: In the latest update we reviewed Iconomy (ICN) platform, by the time of our report each ICN was 0.0005 BTC. Yesterday a new all-time high captured on Liqui exchange at 0.00086 level. STEEM was mentioned in the same last week update, see attached graph, more than 100. As well as VRM with very low market cap last week, VRM change since last week – 30% gain. Have a great Crypto weekend!
