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The past week proved highly challenging for the whole market. Bitcoin graphs show that the market withstood this test with forbearance. Even in the absence of positive news, there was a rapid price reversal from key support levels. Everything has gone smoothly this week, and buyers and sellers are now analyzing the situation. Japan’s Financial Services Agency (FSA) gives a bit of positivity to the market as it is considering the possibility of surveying ICOs in Japan. The FSA has played a pivotal role in drawing up rules regarding cryptocurrencies in Japan, despite the fact that the country has officially classified Bitcoin as a payment method.
Ethereum has not stayed long at the local minimums it had reached either.
Litecoin reacted quite dramatic to all the news from China last week. This is due because the cryptocurrency is really popular among Chinese investors.
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