All ICOICO statsRatingReviewsBlogNews Wallets Mining Exchanges Chart Events

Bitcoin News and Price Overview: Bitcoin Yet to Break A Key Resistance Point. Wednesday, July 11

11 july 2018, 20:10 by Jofor Humani

Important Bitcoin News

Binance CEO Says Bitcoin Still In Good Position

The CEO of the Binance, the largest cryptocurrency exchange, Changpeng Zhao said Bitcoin has not performed badly in comparison to last year. According to Zhao, the coin which has lost 70 percent of its December value still has great outlook.

In an interview with Bianca Chen, a Zug based cryptocurrency research institute, Zhao said that the cryptocurrency space is better positioned in terms of infrastructure, volume, price and the interest people have in the sector. He said, “Just checked, btc price was $2500 a year ago, today $6800. Trading volume for btc was 780m a year ago, today is 3.4b. There you go,”

Peoples Bank of China Says Yuan-Bitcoin Trade Now Less Than 1 percent

The ban placed on cryptocurrencies by the Chinese government has had the desired effect. The People’s bank of China released a report saying that the Chinese yuan now accounts for less than 1 percent of global bitcoin trade. The report showed that the yuan which once was the dominant currency of the cryptocurrency trade has whittled down its position due to the ban.

Guo Dazghi, who is the research director, spoke with Asia Times saying,  “The new figures indicate that the policy has been very successful. It is within expectations that the yuan’s share in global Bitcoin transactions would drop after China announced the ban.”

Before the ban in 2017, the yuan-bitcoin trading constituted 90 percent of all bitcoin trades at the exchanges.

BTC Price

Bitcoin Yet to Break A Key Resistance Point

Bitcoin is still trading at less than $6,800, which most analysts have predicted is a key resistance needed to surmount for the coin to hit the much awaited $7000 mark. The coin has failed in three attempts in the past 7 days to make gains above $6,754.

BTC/USD Price Chart, Wednesday July 11th:

Follow TokenTops on Twitter to stay notified about new articles, cryptocurrency news, ICO announcements and price predictions and analysis.

Please remember that investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops.We do not encourage our readers to any kind of behaviour or financial decisions. We believe that everyone should make their own and in depth research on the particulat topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, other experts and community discussions, yet they cannot be considered any type of financial advise. 

You may also like


Write comment 0 comments

You need to login to create comments.

Get the week’s best ICO right in your inbox