Bitcoin, cryptocurrency market’s main asset, achieved the first growth goal of over $7500 and interrupted last week’s correction. But unfortunately, it failed its first attempt to grow and consolidate above $7800. And sadly, we don’t expect it to grow further. A slight correction is possible.
As far as figures are concerned, crypto assets capitalization restored from $312 billion to $344 billion. Bitcoin is now trading in the range of $7600–7700 (it’s +5% in a week). Ethereum demonstrated a little growth as well, it increased from $540 to $605, which is 3.5%. IOTA, ADA, and EOS (that launched its net successfully) demonstrated the best growth rate among top10 cryptocurrencies having increased by 32%, 18%, and 18% respectively. TRON demonstrated negative dynamics (-14%) last week. This asset is going to experience its mainnet launch between June 21–24 when users have to bring their ERC-20 tokens to crypto exchanges and get the same amount of TRX tokens on a new blockchain. The transition will be over by June 25. Developers called this day the Independence day.
In general, we can expect the main cryptocurrency to grow and reach the $8540 mark point in the near future, followed by a short correction and then experiencing a new growth wave to the $8780 level. The next market growth wave should happen right now as there are several major reasons for it.
The launch of the centralized crypto exchange dr.exchange, based on the famous American NASDAQ exchange, is scheduled for this month. Crypto exchange customers will be able to buy cryptocurrencies for fiat, perform trading between tokens and convert coins into fiat and move them out. This very infrastructure is essential for growth. Gibraltar is also launching a new crypto exchange for institutional investors. It should become the first licensed trading platform for digital assets managed by the EU controlled fund exchange. The world’s largest crypto exchange Binance announced the launch of the $1 billion investment fund.
It’s worth mentioning that on June 5, 2018 Moscow is hosting an important cryptocurrency market event — ICO Summit Moscow. Renowned speakers will discuss in details the upcoming era of ICO 2.0 and will share the strategies for successful projects search.
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