Marios Athinodorou
K-DNA Financial services Ltd
Based on the latest report the major fail in the crypto market had some serious drawback for the Coinbase App.
Coinbase CEO and founder Brian Armstrong is not disappointed and stated
“After many years of this, I’ve come to enjoy the down cycles in crypto prices more. It gets rid of the people who are in it for the wrong reasons, and it gives us an opportunity to keep making progress while everyone else gets distracted,” Armstrong posted. “We use the down cycles to build a strong foundation so we can thrive in the next growth cycle.”
Also, the cryptocurrency has been disappointing this past year. But Coinbase is still expanding its business with new services and working towards to bring institutional customers in the cryptosystem by creating the infrastructure to accept them in.
Before 2 months ago the company announced four new institutional products and they went live the past month.
Now the crypto trading giant wishes to adopt five new cryptocurrencies in its platform Zcash (ZEC), Cardano (ADA), Stellar Lumens (XLM), 0x (ZRX)and Basic Attention Token (BAT).
Coinbase also in June announced that is going to include in its list the Ethereum Classic (ETC).
Ethereum Classic has a similar structure to the original Ethereum (ETH) and it will be available for trading soon.
Having said that, the Crypto Giant stated that even adding these currencies it will require even more intense research by them due to the fact that most of them have different architecture.
The downside of that will be the probable delay of the coin's release.
Now in other news, we can say that the Bitcoin looks bearish but based on the Coin Analyst platform the bitcoin sentiment for the last four weeks has been positive.
The same with Ichimoku system, if we examine its components we can see that we have an early Kumo breakout and we wait for the chikou span to come out of the cloud to confirm the signal.
Coin Analyst Sentiment
Tool BTCUSD 1H Timeframe
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