Market review, August 20, 2019

0
2019-08-20 14:01:14

Silvergate, an American bank known for its friendly attitude to cryptocurrencies, has announced plans to launch a new product — loans issued against cryptocurrencies.

The bank submitted the S1 / A form to the US Securities and Exchange Commission (SEC), in which it noted the attractiveness of loans for companies that can provide collateral in cryptocurrencies.

We believe that the possibility of issuing a loan in digital currencies will make us even more attractive and improve relations with our customers,” Silvergate representatives said.

The company emphasizes that the bank's customers express significant interest in obtaining loans secured by cryptocurrencies. At the same time, the bank plans to conduct a risk assessment in order to offer a product adequate to the market.

Last fall, it was reported that more than 500 companies operating in the cryptocurrency industry have already become Silvergate's customers.

Technical analysis of Bitcoin (BTC):

Over the past day, bitcoin rose the mark of $10,925. This movement of bitcoin fully coincided with our previous forecast. Now, the price of bitcoin is $10,600. We expect bitcoin to fall to the support level of $10,360. The nearest resistance levels are $11,000, $11,500. The nearest support levels are $10,360, $10,000.

Technical analysis of Ethereum (ETH):

Over the past day, ethereum rose slightly to the resistance level of $201. But now, the price of ethereum is $196. According to the technical analysis, ethereum will continue the negative movement, since there are no buyers. The nearest resistance levels are $201, $206, $214. The nearest support levels are $192, $185.

Technical analysis of Ripple (XRP):

Over the past day, ripple turned out to be weaker than bitcoin and ethereum, it dropped in price and reached the mark of $0.2660. Now, the price of ripple is $0.2710. We tend to expect the flat with a range of $0.2660- $0.28. The nearest resistance levels are $0.28, $0.2910. The nearest support levels are $0.2670, $0.26.

Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
Something went wrong
Message: