Top Cryptocurrencies of the Week – As at Sept 26, 2018
- Bitcoin (BTC) – Bitcoin didn’t experience any major movement following (SEC)’s announcement on Thursday 20th that it has begun a formal review process for the physically backed bitcoin ETF proposed by VanEck and SolidX.
Many analysts speculated that the order DOES DELAY the ruling, but it moves the timetable up a bit since it came prior to the Sept. 30 deadline.
Short volume on BTC have fallen 20% since the announcement. so it looks like the market has is feeling a more positive sentiment.
Without any major catalysts in the near horizon, we anticipate a potential for slow upside in quarter 4 with the next milestone resistance at $7400
Caleb and Brown’s Spotlight Cryptocurrencies of the Week:
- MakerDAO (Maker) – A Platform generating stablecoins collateralised through smart contracts – Has just received a $15m investment from Venture fund Andreeson Horowitz into the governance token. As stablecoins will play a vital role in the market, our team holds Maker in high regard, as it offers a solution that does not rely on human audit, but provable smart contracts.
- Litecoin (LTC) – Litecoin, reached a significant support level of $50, tested multiple times since October 2017. Speculators looking to re-enter their Litecoin position may start to do so over the coming weeks, as we could be nearing the price bottom.
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