Over the week, the coin has lost 8.21%. Regardless of such a feeble and dull decline, in the medium run, the BTC still has good chances for recovery. An eye should be kept on the support area between 26,500 and 27,000 USD. Active buying might start from there. With current intraday trade volumes, the crypto market has become low-liquid again. This means that any active move of major players can reverse the trend.
For the BTC to start growing again, it needs to secure above 28,900 USD.
The capitalisation of the crypto market keeps falling and currently amounts to 1.157 trillion USD. The BTC share has risen to 45.9%, and the ETH share has dropped to 19.1%.
Gemini will start a platform for derivatives
The Gemini Foundation platform has announced a soon launch of a platform for operation with crypto derivatives. This mechanism will let investors work with instruments meant for digital currencies. However, all of them must be out of the US legislation.
Zimbabwe authorities plan to introduce a digital currency backed by gold in the nearest future. This measure is meant to stabilise the national currency after a lengthy devaluation against the USD.
EU accepted crypto regulations
On 20 April, the European Parliament voted positively for a draft bill on complex regulations of the crypto industry. The main measures will be taken 12 months after the draft bill gets published in the official EU journal.
