No Xmas for Crypto Market, But It Started To Grow

Last week was not saturated with high-profile events that could unroll the course of events of the entire market.

The good news goes first; French authorities approved the initial coin offering (ICO). Such a step will have a good effect on the future and will help attract additional investors to the market. If most countries in the Eurozone take same steps, then we will see the attraction of new capital and a market capitalization increase.

It should also be noted that the head of MoneyGram noted that Ripple can transform the global payment system and put blockchain technology on a par with global payment systems.

In general, last week we saw a local bottom in the BTC/USDT pair at 6435 according to the Binance exchange. But by the end of the week, the bulls became active and returned the advantage to their hands, adding 1000 USDT to the course.

The situation remains tense, as it isn’t clear what will happen to that huge amount of long positions gained on the Bitfinex exchange. This situation goes into manual control mode. Players may collapse below 6000 at one point, which will negatively affect the mood of the entire market.