Bitcoin Today: US Exchanges could get in trouble?

Sep 19, 2018

Price
The price gradually climbs to the another-one Bearish Trend Line, drawn through the overall peak (20000) and recent turnaround point on September 18. Meeting with this line could add volatility to the market and possibly bring the price to new levels. The price still reacts on the support zone below 6250, so proceeds lateral movement in 6250 – 6100 channel. As said higher, in the absence of strong fundamental drivers we expect such manner of movement until the meeting with the Bearish Trend Line, which should be seen during the next days. Boundaries stay the same today, 6100 from below and 6600 from above.

Today forecast
Trading in the 6100 - 6600 zone. Breakthrough below 6100 will target the 5750 support.

Latest news

• The Attorney General of New York declares: Three crypto-exchanges can work illegally in the state
  On September 18, a 42-page report of the Attorney General of New York, Barbara Underwood, about the work of crypto-exchange exchanges was published.
  According to the New York Times and Bloomberg, the report says that several crypto exchanges are subject to conflicts of interest, and their clients have lower guarantees than traditional financial markets and may be victims of market manipulation.
  "As our report details, many virtual currency platforms lack the necessary policies and procedures to ensure the fairness, integrity, and security of their exchanges," Attorney General Barbara Underwood said in a statement.
  In this regard, the Attorney General asked the New York City Financial Services Department (NYDFS) to check whether there could be cases if illegal activities in case of three crypto exchanges.
  In April 2018, the Prosecutor General's Office sent 13 crypto-exchange platforms notifications, in which they asked them to voluntarily provide information on their activities. Then four addressees refused to cooperate, saying that they do not work in New York. The names of three of them are known: Binance, Kraken, and Gate.io. Apparently, this is the ones that the Prosecutor General's Office notified NYDFS.
  The study also found that "trading platforms lack a consistent and transparent approach to independently auditing the virtual currency purportedly in their possession", making it "difficult or impossible" to confirm that the exchanges are responsibly holding customer accounts.
  The attorney general's report detailed how some of these platforms conduct overlapping lines of business that present "serious conflicts of interest", including trading for their own account on their own venues. Some platforms also issue their own virtual currencies or charge companies to list their tokens.
  For now, none of the exchanges commented on the report.