Summary:

• Czech investment bank is going to run a blockchain fund
• Billionaire and co-founder of Google is positively oriented for a cryptocurrencies
• One of the biggest Chinese banks thinks over use of a blockchain system

The end of the previous week ended optimistically, but the beginning of next one could bring a reversal. Over the past 24 hours the major virtual currencies went down and lost their recent gains. The capitalization of the whole market sits a notch below $265 billion while excluding Bitcoin this figure stands at $150 billion. The next positive messages about cryptocurrencies and blockchain come from important people and companies.

The investment bank, called Benson Oak and located in Prague, claimed that it was going to run a new blockchain fund. The new project will especially directed for an Israel’s market and its startups connected with blockchain technology. Israel has a very dynamic startups’ arena. There are not only local small companies interested in blockchain, but also big financial institutions seem to discern value there. Nevertheless, Benson Oak concentrates on startups and wants to use their potential. The financial institution is going to focus on enterprises producing consumer goods. The bank plans to raise $100 million to run a new idea.

BITCOIN saw a significant decrease. It broke its 33-period moving average on a H4 interval (a purple line on the chart). Currently, the most famous cryptocurrency sits a notch below $6550. Source: xStation5

Sergey Brin, co-founder of well-known IT giant, appreciates virtual currencies. A creator of Google appeared on the Blockchain Summit in Morocco. Brin admitted that he is mining the cryptocurrency with his young son. More precisely, he meant Ethereum. He also alluded to mechanisms related to virtual currencies. Brin is next person in connection with enormous IT companies who is interested in the cryptocurrencies’ world.

ETHEREUM also experienced a large fall. Like a Bitcoin, it broke 33-period moving average on a H4 interval (a purple line), but more clearly. Now, Ethereum is trading around $450. This week’s falls may suggest that a new downtrend could unfold. Source: xStation5

Yesterday, we wrote about Walmart’s plans connected to use of blockchain technology to increase efficiency of deliveries. Today, we describe the next company which wants to create a similar project. ISBC (The Industrial and Commercial Bank of China), one of the four largest Chinese banks, is interested in solutions based on blockchain. The new banks’ idea is to ameliorate the exchange of financial assets. One of the results may be an improvement of liquidity of these assets. ISBC, like a Walmart, is a company with an enormous impact on the global economy. This information can be a next sign from the “big finance” that a blockchain is becoming more and more important technology all over the world.

LITECOIN sits a notch above $75. The cryptocurrency is looming its support (a lower bound of a downward channel). A possible breakdown could signal a change of a trend. Source: xStation5