The 'altcoins' pull the car of the 'crypts' and drive the bitcoin to $ 8,500
The increases of the last two days in the cryptocurrency market have been driven by the 'altcoins'. The boom that began on Thursday in the ripple and bitcoin cash, and that led both assets to show a double-digit advance, continues this Friday, while "positive sentiment and confidence grows in the market," says Naeem Aslam, analyst at Think Markets. The escalation has raised the total market to a six-week milestone and the capitalization of the more than 1,500 tokens and existing assets exceeds 375,000 million dollars.
Again, they are the spin-off of bitcoin and the unit of the Ripple Network who lead, by far, the increases. The ripple skyrockets to highs not seen since the beginning of March, at $ 0.87, with a rise of 20% and the bitcoin cash recovers $ 1,000, after catapulting almost 19%, according to data from CoinMarketCap.
The bitcoin is heading above the resistance of $ 8,400 that, once exceeded, could leave the doors open to Satoshi Nakamoto to "star in another boom of 15%", as experienced last week, says José María Rodríguez, analyst at Bolsamania. For now, its increase is 3.5% and exceeds $ 8,500.
The ether, meanwhile, shoots up 10% to $ 591, after it has transpired that the investment fund Ether Capital in the unit of the network of smart contracts has begun trading on the Canadian stock exchange NEO.
WALL STREET INVESTORS PRESS THE SEC
Following in the cryptosphere, the regulation of the initial emissions of digital currencies (ICOs) in the US and the vigilance that the Securities Exchange Commission (SEC) exercises over them refocuses attention, after a lobby of Silicon Valley venture capital investors have asked the regulator to loosen its grip on this form of startup financing. Specifically, they have insisted that the tokens should not be limited to the rules of the regulator of the US markets on securities, since they are a mechanism through which investors can access services from companies.
Representatives of the venture capital firms met with senior officials of the SEC's Corporate Finance Division, which regulates the Initial Currency Offers (ICO), to debate against the strict cryptocurrency regulations that, according to them, would harm the development of this young industry in expansion.
Explains the 'Wall Street Journal' that the group of investors defended that the tokens that are launched in the ICOs should not be considered as investments, but as products that can be used to access services of companies, which is known as' tokens utilities ' If the regulator accepted that startups made these token sales without observing formalities such as business reviews and financial reports, the pressure that the supervisor has been exercising lately would be lifted. The group assured the SEC that the issuers of ICOs would have to render accounts, also, in cases of fraud.
The SEC has expressed its skepticism in private in the face of a broad exemption from its supervision, and is more likely to opt for a "limited exemption" from it, in which each investor will acquire investment limits, and the purchased tokens will not be resold to third parties with profit motive.
