Crypto news update: week 35 2019

For everyone who hasn’t been able to follow the news from the world of blockchain and cryptocurrency, we have listed the highlights once again!

At the beginning of last week the price of bitcoin (BTC) managed to rise above $10,500, but unfortunately the price then fell below an important resistance area. On Tuesday bitcoin traded close to a support, within a rising trend channel, which would mean a possible, significant price drop. That expectation seemed to be off the table again on Wednesday. However, at the end of the day, bitcoin started a decline, the price dropped back to a price level of around $9,500. After a few days of little action, bitcoin started to rise again yesterday, which allowed the price to break through the psychological barrier of $10,000. At the time of writing, bitcoin stood at $10,636.

There is also news about the exchange-traded fund (ETF) application of VanEck and SolidX. The decision regarding the now infamous ETF has not yet been made, but it appears that the two companies are going to offer shares in an ETF via a detour. This would be possible under certain circumstances, as determined by the Securities and Exchange Commission (SEC). At the time of writing, the SEC has not yet approved any bitcoin ETF.

Bakkt, the long-awaited trading platform for physical bitcoin futures, will launch its custody service on Friday 6 September. The company announced this last Wednesday. The service, which will be called Bakkt Warehouse, will be ready for customers who want to deposit bitcoin from 6 September.

Cryptocurrency exchange Binance has launched Binance Lending. This loan service allows Binance customers to earn interest by making cryptocurrency stored on the exchange available to other customers. The service is currently available for Binance coin (BNB), ethereum classic (ETC) and tether (USDT).

As described above, Bakkt Warehouse will see the light at the end of this week. Opinions are divided as to what this development will do with the price of bitcoin.

Price changes over the last 7 days

2019-09-05T19:46:59+00:00

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