Summary:
- Major cryptocurrencies are slightly going up
- American Express (AXP.US) appreciates a blockchain technology
- Bitcoin (BITCOIN on xStation5) is trading around $6200
Cryptocurrencies are subtly rising. Friday brings calm after yesterday’s falls. Over the past 24 hours major cryptocurrencies were faintly increasing. The capitalization of the whole market sits a notch below $250 billion while the capitalization without the most famous cryptocurrency stands above $140 billion. American Express, the next company we are focusing on this week, considers use of a blockchain technology in its payment solutions.
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Create account Try a demo Download mobile app Download mobile appAmerican Express, a credit card colossus, keeps an eye on blockchain. Company considers using of this system in a proof-of-payment technology. This is not first time when a gigantic company comes up with such an idea related to a blockchain technology. Nevertheless, the move undertaken by the company confirms previous statements released earlier in connection with blockchain. Let us recall that in 2014 the company’s CEO Ken Chenault claimed that Bitcoin might be a competitor to the credit card giant, but its protocol would be important. American Express is another company we are writing about this week with significant plans connected to blockchain. All of these signals may highlight importance of this technology in the nearby future. Given that there have been no too many interesting topics being worth bringing up in today’s post, let’s move through some charts.
BITCOIN has faintly rebounded from this week’s lows. Bitcoin has broken above a $6200 handle for a while during the day. The virtual currency, like other ones, is taking a breath today. Now, the cryptocurrency is trying to jump over the 8-period moving average on a H4 interval (a yellow line on the chart). Source: xStation5
RIPPLE went back to its downward channel after testing its lower bound (an orange area). On the chart (a H4 interval), the cryptocurrency is testing its 8-period moving average (a yellow line). The virtual currency could break this line and if so it could continue moving within the current channel. Source: xStation5
ETHEREUM, the digital currency with second highest capitalization, like all major virtual currencies, is settling down as well. Ethereum sits a notch above $430. The cryptocurrency has been oscillating around a $430 handle since mid-Tuesday. We are waiting for more clear impulses. Source: xStation5
Disclaimer
This article is provided for general information purposes only. Any opinions, analyses, prices or other content is provided for educational purposes and does not constitute investment advice or a recommendation. Any research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Any information provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.
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