July

Altcoins are now in pent-up demand. The long absence of purchases and a small drop in prices, says that as soon as possible the price growth of the most popular altcoins should start again.

After the slight decrease that we have seen over the past two days, the Bitcoin price returned to a level around $660. At the moment, this level supports the price and doesn’t let it to move down. The lack of sellers in the market, speaks to the imminent resumption of the uptrend.

This week holders of altcoins suffered losses, as all altcoins except Ethereum lost in the price. The more altcoins are produced, the less popular they are.

The growth of the main cryptocurrency, which began recently, did not last long and most of the altcoins moved into a sideways trend again, as traders reduced their activity. How long such passive dynamics last, time will tell.

A month since The DAO exploit, the Ethereum Foundation proposes a hard fork to the Ethereum software that refunds the lost Ether. The decision process of whether to accept or reject the hard fork that is being presented begins on block number 1,920,000 which is at approximately July 20, 12:00pm GMT.  

House of Lords consults the Bank of England on issuing a new cryptocurrency called “Britcoin”. The question will be discussed during the session held on July 19.

Prices for the most popular cryptocurrencies are now in growth again. Continuous price corrections against the US Dollar, which lasted for nearly a month, seem to comes to an end. In the coming days we expect altcoins to reach new support and resistance levels.

Last week the Bitcoin price showed movement. Traders are in no hurry to sell bitcoins and are waiting for the resumption of price growth. Moreover, the unstable situation in the world economy and deferred demand for Bitcoin confirm these expectations.

Blockchain-powered social network Steemit was subjected to a cyber attack on July 14, 2016. Security team is busy working on the investigation and developing an immediate solution to protect users.