Dear Teroxx Community,

This week we saw a digital asset market that held further price setbacks.

Weekly overview

As usual, we are also providing detailed videos for those who want to delve deeper into the subject.

Latest crypto news

Three Ethereum testnets now have a launch date for the London upgrade. In a corresponding blog post by the Ethereum Foundation, core developer Tim Beiko writes that three blockpoints have been set for the Ropsten, Goerli and Rinkeby testnets, at which London will go live respectively. Thus, Ropsten is scheduled to launch at block 10,499,401, or on June 24, while Goerli is targeted for around June 30 and Rinkeby will follow on July 7. The London hardfork includes five so-called “Ethereum Improvement Proposals” (EIP), or “improvements,” for the Ethereum blockchain. Of particular note is EIP-1559, which aims to fundamentally overhaul Ethereum’s transaction fees. Although the developers emphasize that the EIP is not intended to reduce transaction fees in general, experts assume that it could reduce fees by more than 50%.

Mayor Francis Suarez wants to make Miami the mining capital of the U.S. by offering cheap, clean nuclear power. More and more Bitcoin (BTC) mining power is spreading across North America, which is why the mayor of the U.S. metropolis of Miami is now working to make his city the go-to place for the mining industry. In order to attract foreign mining companies in particular to Miami, Suarez promises that the city government will work with regional energy providers to ensure that electricity costs are as low as possible. Minimal regulation and tax incentives are also on his mind.

Cheap and clean electricity combined with conducive regulation could thus make Miami an interesting location for the mining industry. So far, the American states of Texas and Wyoming had emerged as the most important locations in the USA.

Danske Bank isn’t completely sold on cryptocurrency but said it won’t stop its customers from using its services in connection with crypto platforms. “Customers depositing funds from investments in cryptocurrencies are treated by us in exactly the same way as customers depositing funds from other forms of investments,” as the bank clarifies to that effect.
The financial institution is also not bothered by the fact that their bank cards and credit cards are used on crypto trading platforms to purchase cryptocurrencies, as long as the platforms in question comply with applicable anti-money laundering regulations.
“Furthermore, we do not prevent the use of Dansken Bank credit cards for cryptocurrency trading. However, as with all other credit card payments, our customers must comply with applicable anti-money laundering regulations,” the bank said.

Technical term of the week

Trading Service: A service that undertakes trading to increase capital from an investor.

Crypto Market

Last week we saw market moves that pushed bitcoin and almost all other digital assets back towards support levels. The resistances could not be broken and thus there were subsequent sell-offs as the markets continue to be buffeted by “Fear and Gread” and no long-term positive trend could be established yet. Thus, Bitcoin remains in the trend channel between $30,000-$40,000 and continues to wait for a clear price breakout. However, the strong short-term buybacks also show that positive accumulation is taking place.

BTC/USDT, 60

Bullish Outlook: A calming in the market and a bounce from support zones could establish bitcoin above $36,000 to subsequently attack resistance at $40,000.

Bearish outlook: $30,000 should serve as support. Long-term loss of these levels could lead to further sell-offs and bearish market situations.