Market review, March 3, 2020

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2020-03-03 16:01:18

Lloyd’s of London, the largest insurance market, together with startup Coincover announced a new solution for cryptocurrency insurance in hot wallets.

According to Lloyd, the decision is aimed at protecting cryptocurrency wallets from hacks and theft of assets stored in them. Atrium insurance syndicate and Coincover cryptocurrency startup participated in the development of the product. TMK and Markel provided insurance guarantees.

Atrium investment analyst Matthew Greaves believes that traders are increasingly in need of insurance for popular cryptocurrencies to be sure of the safety of their funds. According to David Janczewski, Coincover CEO, the cryptocurrency market has been “warming up” since the beginning of the year, so we should expect a “new wave” of traders and investors who were previously afraid to enter the market due to the lack of an adequate level of protection against theft and loss. Janczewski said that the new solution would remove these barriers and expand the scale of cryptocurrency adoption.

Let us recall that in February last year, BitGo crypto assets of $ 100 million were insured through the Lloyd’s of London market.

Technical analysis of Bitcoin (BTC):

Over the past day, the price of bitcoin rose to the resistance level of $8,980, then it fell to the support level of $8,740. Now, the price of bitcoin is $8,840. In the future, we expect the continuation of the upward movement. The nearest resistance levels are $8,880, $9,000, $9,320, $9,470, $9,730, $9,820, $9,900, $10,200. The nearest support levels are $8,750, $8,500, $8,280.

Technical analysis of Ethereum (ETH):

Over the past day, the price of ethereum rose to the resistance level of $234, then it fell to the support level of $225. Now, the price of ethereum is $230. In the future, we expect the continuation of the positive movement. The nearest resistance levels are $234, $236, $244, $257, $263, $273. The nearest support levels are $225, $220, $215, $213, $210, $206.

Technical analysis of Ripple (XRP):

Over the past day, the price of ripple rose to the resistance level of $0.2420, then it fell to the support level of $0.2320. Now, the price of ripple is $0.2360. In the future, we expect the continuation of the uptrend. The nearest resistance levels are $0.2380, $0.2420, $0.2460. The nearest support levels are $0.2350, $0.2320, $0.23, $0.2260, $0.2240.



Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
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