Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano: Price Analysis, Jan. 04
While China banned initial coin offering (ICO) back in September 2017, it has not prevented the Chinese social network Renren from seeking an ICO. The company’s stock, which is listed on the New York Stock Exchange climbed 47.39 percent to $18.32 a share following the news.
Similarly, Israeli trading company Plus500 saw its stock price spike 20 percent as it reported that cryptocurrency trading had boosted its profits.
This shows that the markets are excited about the companies getting involved with the Blockchain technology or cryptocurrencies.
But not regulators, apparently. The Israel Securities Authority, for example, is not in favor of stocks, whose main business is linked to cryptocurrencies. The regulator plans to prohibit the listing of shares of such companies. Will other stock markets regulators also follow? Difficult to say.
As the cryptocurrencies market cap has crossed over the $760 bln point with altcoins outperforming Bitcoin, let’s see if we can identify any buy or sell patterns today.
