Crypto Diaries: IMF & World Bank cozying up to Blockchain & Cryptocurrencies

Learning Coin by the Global Monetary Authorities & Exploration of Bitcoin Bonds by different Countries

It has been an important week for the Cryptocurrencies as they have continued to build on the gains that kicked off at the start of the month. There has been some important news from the Cryptoverse as well which I will discuss in this edition of my Crypto Diaries. First things first, let’s review some of the price action in the digital assets — last few days have seen a divergence between the gains of Crypto kingpin Bitcoin and the Alt. coins.

As BTC has continued its upward trajectory making new highs, Alt.coins dropped off towards bearish consolidation, accounting for the spike in BTC dominance — obviously with the kind of co-relation most of the Alt. coins have with BTC, it seemed a little out of line.

And indeed as I was writing this, Bitcoin fell sharply towards the support region of $5200 which it had held for the past 7 days or so. Although BTC has retraced to the $5400 region, the gains still seem capped by the bearish trend line in the hourly chart. Having said that, only a convincing break of $5200 support extends this correction further. BTC dominance stands @ 54.7% with the total…