“The U.S. Commodities Futures Trading Commission, or CFTC, will soon provide tighter guidance on the digital currency market,” according to MarketWatch. “Speaking at the North American Securities Administrators Association Conference in Washington, Chairman Christopher Giancarlo said the agency will publish a staff advisory that will provide guidance to both exchanges and clearinghouses when listing derivative contracts based on virtual currencies.”
There is significant room for growth in the cryptocurrency universe. Recent data suggest a small amount of American investors own any digital currencies and, after bitcoin, the numbers of crypto ownership dwindle.
“If bulls are able to stay in control, they could push bitcoin price up to the next potential resistance at the 38.2% extension or $9279,” reports NewBTC. “The 50% extension is near the $9700 major psychological level while the 61.8% extension lines up with the swing high around $10,000. Stronger bullish pressure could take it up to fresh highs at the 76.4% extension or $10,705 level or the full extension at $11,461.”
For more information on the cryptocurrency market, visit our Bitcoin category.