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[QUOTE="MikhailLF, post: 165261, member: 42242"] Cryptocurrency Market Review 2019-05-31 11:32 (GMT+2) This week, cryptocurrencies showed ambiguous dynamics. The initial price increase is now replaced by a significant correction. Now Bitcoin is trading around 8215.00 (–3.9%), Ethereum — at 250.00 (–4.7%), Ripple — at the level of 0.4160 (+3.2%), Bitcoin Cash — at around 415.00 (–1.4%). EOS took the fifth place in terms of capitalization, displacing Litecoin from this position. Currently, EOS is trading at 7.360 (+5.7%). The total market capitalization during the week decreased from 270 to 261 billion dollars. Bitcoin's market share rose to 56.2%. Despite the downward correction of the market in the second half of this week, most experts are confident that the uptrend will continue. The rise in the value of cryptocurrency assets will continue to be supported by the confrontation between China and the United States. Recently, it has moved from the tariff to the technological sphere, and if the bond market is also affected, this will entail a significant surge in demand for the largest cryptocurrencies. According to CNBC analysts, there is an inverse correlation between the yuan and Bitcoin on the market, with the latter acting as a safe haven. Also, the growth of Bitcoin is supported by the approximation of the date of a two-time reduction in the reward for miners (May 2020), which can provoke a sharp reduction in the supply of coins. Cryptocurrency sites important releases include Coinbase preparation for the launch of margin trading. For now, it is discussed, in what form and how to provide this service to customers. Also, representatives of the exchange announced the addition of the ability to trade EOS coins to the Coinbase application on Android and iOS. Binance Cryptocurrency Exchange is preparing to release a new version of the Binance 2.0 platform, which will also contain the function of margin trading. Now this option is available in test mode. Also, the update will enhance the security of transactions in order to further eliminate the possibility of hacker attacks, such as the one that occurred in early May and cost the company's customers BTC 7000. From other news, it is worth noting the publication of a new cryptocurrency rating from the China Center for Information Industry Development (CCID). It assesses coins in terms of technology base application, innovation and practical benefits. The first three places are occupied by EOS, TRON and Ethereum. Bitcoin takes only 12th place, and Ripple is at the 17th. The US Congressional Research Service published a report this week, in which it called Bitcoin not a payment, but a speculative tool. According to the research, cryptocurrency ultimately will not be able to compete with traditional means for storing capital and paying for goods and services. The ECB Research Group on the Study of Cryptocurrency Assets also released a report according to which cryptocurrencies currently do not pose a threat to the EU financial system, since their capitalization is only about 1% of euro area GDP. However, the group members called for a unified regulation of cryptocurrencies in the EU. Next week, the beginning of a new growth in the cryptocurrency market is possible after the end of the current correction. [/QUOTE]
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