Crypto newsletter: Major coins try to recover yesterday losses

 

We could observe some strong bullish moves on the cryptocurrncy markets during this week. Bitcoin managed to break above $ 7,550 and surged around 20% and surpassed many key technical levels such as $ 8,000, $ 8,500, and $ 9,000. Yesterday Bitcoin reached new monthly high close to $9,500 hower price pulled back from this level.

Other major altcoins, including ethereum, ripple, litecoin followed Bitcoin's footsteps.  Ethereum managed to deal with the USD 220 level and jumped close  to the $230 resistance. XRP/USD also surged more than 10% and tested the USD 223 resistance level. During yesterday's session, Cryptocurrencies have experienced a much-needed correction. Crypto trader and strategist Tone Vays says he’s expecting a healthy correction  after BTC’s big rally:
“Now, because we made it all the way to $9,500, there is a chance that we’re only going to fall to $8,000. However, we will probably fall lower than that…
This is just a bit of resistance and now we’re going to be pulling back. The weekly chart is still strong, but the weekly chart has plenty of room to the downside without breaking the weekly bullish trend.”

 

 

Crypto news:

 

The Brazilian government has taken a step towards further legitimizing the role of cryptocurrency in the country’s economy. Government officials announced that  cryptocurrency exchanges based in this country will operate under the designated code, which refers to "brokering and possession of crypto assets".

KFC announced that will implement an innovative blockchain platform for its digital advertising and media buying. Company expects that thanks to this move their advertisements will have greater transparency which will increase the brand’s visibility and penetration.  According to Ozge Zoralioglu, Chief Marketing Officer, KFC, Yum! Brands:

“Historically, marketers have collected data from various different sources and run a campaign pegged on these mismatched insights. Today, marketers must get to the original source of the data: the consumer. Blockchain technologies ensure that they get first-hand information from the target audience themselves.
By innovating with a sophisticated blockchain solution, KFC can now benefit from enhanced visibility of real-time data and the most updated insights – all with full confidence that information is authenticated, tamper-proof and hence credible. Leveraging blockchain technology’s immutability means that together, we are able to improve trust, transparency and efficiency in our supply chain.”