Retracements, Rallies, Critical and Psychological Levels are here to Stay

By Steven Anderson July 7, 2019 Off
Cryptocurrency Market

The coming of the Libra, according to specialists, has gained considerable global attention, and it is likely to affect use cases and several regulatory treatments.  Going forward, Libra is going to change the way the investors will be looking at stable coins and the blockchain-based securities.

Libra is set to be a digital representation of a set of fiat currencies and other securities.  The cryptocurrency market is very young and is transforming dynamically.

Valerie Szczepanik, in a recent hearing in the past week, confirmed, “it does not matter that the stable coin does not have an expectation of profits (with the usual caveat of “facts and circumstances”).

There have been currencies which were asset-backed representatives in the past, particularly the gold standard.

The basket value of Libra will vary depending upon the currency in to which the Libra coin should be converted.  Currency issuers face currency risk.  There might be custom-made securities, which hedge currency risk. A pre-hedged token is something that corporates and investors will love.

There are going to be surprising developments in the industry, and these developments will be seen in every kind of token whether the Bitcoin or the TCAT token.

Altcoins just like the Bitcoin do struggle to gather sufficient strength to test the different price ranges, trying to close with gains fluctuating in tight fields daily, and sometimes staying unchanged for long periods of time, etc.  Retracements, rallies, critical and psychological levels are here to stay.

Traditional investors and economists continue to warn about Bitcoin and its instability over others. Many people think that crypto-assets will be just a flash in the pan.  Christine Lagarde warned that cryptocurrencies have been “shaking the system.”

“I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is shaking the system.” This according to some signal a probable inclination towards adoption.

Mati Greenspan, recently stated, “Indeed, Christine Lagarde, who is set to replace Mario Draghi on 1 November is extremely pro digital assets.”

Lagarde further stated that cryptocurrencies are not currencies; however, are “highly risky” assets.  This has been one of the reasons why the ECB and several other central banks into crypto experimentation with the responsibility of regulating cryptocurrencies distanced themselves from cryptocurrencies.

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