On Monday Morning, during the London Open, we saw bitcoin hit $7,800 USD, as previously stated by Nouvive, a move would happen to the previous resistance, before being rejected to retest the previous support of $6,900.
This volatility caused all other of the top 5 coins to see a 4% move with all of the smaller alternative Crypto Assets have a 10% move.
Crypto Assets in the World
On Friday, we saw India continue its policy of banning crypto assets, this was on the basis as they admitted in the supreme court, that the Central Bank, responsible for making monetary decisions, they had not yet conducted any research or consultation before enforcing any policy.
As a result of this statement, the working group established in April has come to the conclusion with sources close to the Supreme court that they will look to regulate Crypto Assets as a commodity – with regulation similar to traditional finance.
Nouvive Calls Upon the World:
Venture Capitalist firms have been investing in DLT or distributed ledger technology for the past 3 years. VC’s understand crypto assets are unregulated, this is a cause of concern for Nouvive.
When a VC takes a large position in a coin, they control both liquidity and volume in the market. As a result, when the coin gets to a favourable position, they start to liquidate some of their holdings, causing a large spike to the coin.
Nouvive calls upon ALL VC’s to disclose token exits and whether they have taken a position in a coin or not.
Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.
Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.