• The Financial Stability Board has developed a crypto markets monitoring framework

  • Knowledge of cryptocurrencies and blockchain will be tested during CFA exams

  • BlackRock, an asset management giant, is considering investment in virtual currencies

  • Bitcoin (BITCOIN on xStation5) has risen roughly 5% since yesterday

The cryptocurrencies’ frenzy is going on. Over the past 24 hours major cryptocurrencies were advancing rapidly. Cryptocurrencies prices are slowly climbing back towards July’s highs. The capitalization of the whole market sits a notch above $270 billion while the capitalization excluding Bitcoin stands above $155 billion. Today, the important news come from some reputable institutions. The CFA Institute appreciates cryptocurrencies and blockchain, and BlackRock, a large asset manager, is also exploring benefits they may offer.

Firstly, it is worth noticing that the Financial Stability Board, a G20’s watchdog, announced a new crypto monitoring framework. The new framework highlights risks related to crypto-assets and potential threats for the international financial stability. Currently, FSB supports the view that crypto-assets do not pose a threat to the global financial stability. The Financial Stability Board is an international institution monitoring the global financial stability founded by the G20. 

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BITCOIN has added to recent gains. The most popular cryptocurrency is trading around $6680 handle at press time. After breaking above the 33-period moving average on the H4 interval (purple line) the price action became mixed. Source: xStation5

The CFA Institute, one of the most popular and renowned financial associations, will include the cryptocurrencies-related section in their exam preparation materials. Cryptocurrencies and blockchain among other topics will form the “Fintech in Investment Management” section. The CFA exams are considered to be one of the most difficult in the investment industry. Nevertheless, every year CFA program attracts investment professionals seeking to enhance their analytic and portfolio management skills. The implementation of the cryptocurrency-related topics into the Program curriculum can be viewed as a rise of awareness of this new asset type by investment industry.

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ETHEREUM, just like other major cryptocurrencies, is moving higher today. Ether sits a notch below $470. Following yesterday’s break higher the cryptocurrency with the second largest capitalization is trading above 8- and 33-period moving averages on the H4 interval ( yellow and purple lines on the chart). Will Ethereum bulls manage to test July’s highs at $489?? Source: xStation5

Last but not least, BlackRock, the US-based asset management behemoth, is exploring the potential of the cryptocurrencies. Larry Fink, CEO at BlackRock, claimed that the company has set up a working group to look at blockchain technology and virtual currencies. Nevertheless, the executive stated that he does not see a massive interest in such assets from the company’s clients and investment industry as a whole. 

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LITECOIN has broken out of its downward channel. The coin smoothly moved above the upper bound of the downward channel yesterday. The virtual currency is trading around $80 handle at press time. The increases may encourage investors to pay bigger attention to this altcoin. Source: xStation5