Market review, June 14, 2019

2019-06-14 15:00:40

Media: Facebook hired an influential banking lobbyist for a cryptocurrency project

Facebook hired the well-known lobbyist Edward Bowles from Standard Chartered, a British banking corporation, to work on an alleged payment network based on GlobalCoin in a project codenamed Libra, the Financial Times reports.

The publication did not disclose the source of information and stressed that at this stage neither Bowles nor Facebook will comment on this news in any way.

Earlier, the media reported that Facebook has already begun preliminary negotiations with the US Commodity Futures Trading Commission (CFTC) to find out whether GlobalCoin is subject to departmental regulation. It was also rumored that similar contacts had been established with the US Treasury Department and Mark Carney, manager of the Bank of England.

The latest data that leaked to the media suggests that Visa, Mastercard, PayPal, Uber and other large corporations could invest in a non-profit organization, the members of which are supposed to be nodes of the new payment network. Estimated entry threshold is $10 million.

It is expected that the white paper of the new project will be published on June 18th.

Now, let's move to the technical analysis of Bitcoin (BTC):

Bitcoin rose to $8,300. We expect a further increase in the price of bitcoin. The resistance levels are $8,500, $8,600, $8,750, $8,900, $9,000. The support levels are $8,100, $8,000, $7,840, $7,730.

Technical analysis of Ethereum (ETH):

Ethereum reached the resistance level of $260. If it goes above the mark of $260, we consider long positions. The resistance levels are $266.4, $272, $280, $286. The support levels are $250, $244, $234, $227.

Technical analysis of Ripple (XRP):

Ripple broke through an important support level of $0.4. If the price consolidates above the level of $0.4, we consider long positions. If the price fixes below $0.3888, we consider short positions. The resistance levels are $0.4, $0.4027, $0.4168, $0.4315. The support levels are $0.3888, $0.3812, $03692.

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.
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