• Cryptocurrency market is confined to tight ranges with no escape in sight.
  • Positive fundamental developments leave traders indifferent.

There is nothing much going on on the cryptocurrency market.  Bitcoin and all major altcoins are dozing in the ranges ahead of the end of the working week. 

Bitcoin is changing hands at $3,635, mostly unchanged both since the beginning of Friday and on a day-over-day basis. The first digital coin has been sitting in a tight range, limited by $3,580 on the downside and $3,700 on the upside. A decisive breakthrough in either direction will define the short-term trend.

Ethereum has crept towards $123.00 handle. However, the coin is also inert. ETH now takes the third place in global cryptocurrency rating compiled by CoinMarketCap. Its market value is registered at $12.8B, while an average daily trading volume has settled at $2.4B.

IOTA is the growth leader with over 6% gains on a day-over-day basis. The coin is changing hands at $0.3159.

Among the latest developments, the central bank of South Africa develops a set of rules for blockchain and cryptocurrency related companies. The proposed regulation aims to protect investors and consumers engaged in crypto industry.

Read the full coverage here

Also, Grayscale Investments announced the launch of Stellar-focused investment trust. The new trust will deal solely with XML coin, providing customers with a way to gain on the price fluctuations via traditional investment instruments.

Read more about new Grayscale’s trust here

Also, a group of American scientists has taken on a mission to create a cryptocurrency free from the drawbacks inherent to Bitcoin.

Read the story here

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Bitcoin will surpass gold by market value and cost over $500 000 in 9 years - Bobby Lee

One bitcoin will half a million dollars by 2028, according to Bobby Lee, the co-founder and the former CEO of China's lowest cryptocurrency exchange BTCC.

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Stellar (XLM) retreats from weekend high, stays in green on a day-to-day basis

Stellar (XLM) recovered from the recent low of $0.0683 to trade at $0.0815 on Sunday. By the time of writing, the coin has partially reversed the gains and settled act $0.0778; however, it still enjoys 3% of gains on a day-to-day basis. 

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Ethereum price analysis: ETH/USD sits in a long-term range

ETH/USD is trading at $186.57 at the time of writing, having retreated from the intraday high of $190.28. The second-largest digital asset with the current market value of $20.3 billion has lost 1.34% of its value since the beginning of Monday and stayed mostly unchanged on a day-to-day basis. 

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Ripple price update: Reignited bearish momentum targets $0.27

Ripple continues to be depressed towards $0.27 (recent support). It is clear recovery towards $0.30 is nothing but a mirage based on the current technical picture.

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Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast