Crypto Technicals Remain Gloomy While Fundamentals Make Headways: What’s Next?

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Bitcoin and other altcoins in top 100 saw a bit of a relief on
Wednesday and Thursday, but our technical indicators suggest the
bottom is yet to arrive. Taking Ripple’s XRP as an example, versus
the USD, the price action on the daily chart shows the Double Top
bearish reversal pattern is not yet completed. The pair has also
broken below the Ichimoku cloud . The combination indicates we
may see further drops towards the next key support level at
0.2636.

Floyd Mayweather & DJ Khaled Settle with the SEC

In other news, professional boxer, Floyd Mayweather and music
producer, DJ Khaled have got into trouble as the SEC has charged
them for promoting ICOs without disclosing payments. They both
pumped up Centra’s Initial Coin Offerings on Twitter, but they
didn’t disclose that they received promotional payments to do so. I
guess now that cryptocurrencies are making headways with
regulators, we can expect to hear more stories like this, which will
probably be good for the industry as a whole anyway because
people will start to trust it more.

Fidelity to Expand its Institutional Crypto Asset to Top Five-Seven
Cryptocurrencies

Talking about progress, Fidelity investment is reportedly looking
to expand its institutional crypto asset platform beyond its current
Bitcoin and Ethereum. On Thursday, they revealed at Block FS
conference in New York in response to a question from CoinDesk,
that they’re looking to add trading services for the top five to
seven cryptocurrencies by market capitalization.

You Can Now Pay Your Taxes in Crypto in Ohio

All this good news are on top of the fact that you can now pay
your taxes using crypto in the state of Ohio in the U.S. So there we
have it, a gloomy technical projection on the cryptocurrencies
price action, paired with positive fundamentals.

Source : https://m.nasdaq.com