The main cryptocurrency assets traded with low volatility at the end of last week. The price of Bitcoin remained unchanged at around $ 5,100, Ethereum rose slightly to the level of $ 164, and XRP reached $ 0.3250.
At the end of last week in France, a new law was adopted, which will become a new important stage for the official adoption and regulation of cryptocurrency in the Eurozone. Under the new law, France based insurance institutions in will have the possibility to invest in virtual currencies via specialized professional funds without limitations on the amount of investments. In addition, insurance companies will be able to offer their customers cryptocurrency-based products. Private equity investment funds also fall under this law, and this may mean that institutional investors may be affected.
Major cryptocurrencies on Monday are rising in price amid reports that in France, insurance companies have been allowed to invest in digital assets. The national assembly of the country passed a corresponding bill that does not limit the size of investments by insurers in cryptocurrencies.
Against the background of this news, the bitcoin rate at 9.00 per day, according to Libertex, increased by 1.99% to $ 5167 with a capitalization of 91.4 billion dollars. Ethereum by this time went up by 3.03% - up to 168.5 dollars with a capitalization of 17.8 billion dollars. The important news for this cryptocurrency was a message about the possibility of holding Ethereum hard forks every three months.
The rate of XRP per day increased by 0.92% - to $ 0.327, its capitalization amounted to $ 13.7 billion. Litecoin jumped immediately to 6.11% - to $ 83.4 with a capitalization of $ 5.1 billion on the report that the Litecoin hash rate of the network has updated the record figure for 2018.
The Litecoin network hashrate updated its previous record for the end of May 2018 this month. The record growth of the hashrate has also coincided with the approaching of the absolute price maximum in 2019 at about 99 dollars. Since then, the price of Litecoin, and with it the hashrate have fallen somewhat. Meanwhile, company representatives say that Litecoin’s network has become more resilient to possible attacks. In the first quarter of 2019, the price of Litecoin increased by 100%, which was the best indicator in the history of this cryptocurrency.
The total capitalization of the crypto market has reached $ 176.6 million. According to financial experts, thanks to the positive news, the crypt market in the near future will continue its upward movement. In our forecast for Monday, we assume a slight increase in Bitcoin to the levels of 5120, 5150 and 5170 dollars. Ethereum will rise to the resistances of 165, 167 and 170 dollars, and XRP to the marks of 0.3275, 0.3300 and 0.3350 dollars.
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