SCI Daily: Stable condition.
September 4, 2018
Bitcoin continues to hold on to its gains that it made over the past weekend, hovering steadily above the major resistance point of 7,200. The rest of the cryptocurrency market has followed the same trend, with the market cap still at $237 billion.
Support levels are at $7,200 and $6,800 while resistance levels are at $7,600 and $7,800.
BTC/PHP: 403,680 / 358,520
USD/PHP: 53.80
BTC Market Cap: $125B
Crypto Market Cap: $237B
News:
* The Philippine Securities and Exchange Commission (SEC) will be releasing a draft of new guidelines on virtual currency exchanges (VCE) ‘within the first half of September’. The release of draft rules this month will also allow the SEC to come out with final regulations by the end of the year. These new guidelines will aim to promote investor protection, and enable small to medium enterprises (SMEs) to implement alternative ways of raising capital, such as crowdfunding for example.
* Tsukuba is the first Japanese city in the country to complete the testing of a blockchain based system, which allows citizens to vote for citywide development programs. The system utilizes an identity verification device on a decentralized network which encrypts the data of the users and results over the distributed network.
* In a recent report ranking the global entities that have filed for patents tied to blockchain technology, Alibaba, IBM, and Mastercard, were found at the very top of the list. Alibaba, China’s tech giant, leads the pack with an impressive 90 patents, IBM follows with 89, and Mastercard tags along with 80 patents filed to date.
SCI | buybitcoin.ph | Bitbit | Keza | Rebit.ph