Market review, November 14, 2019

2019-14-11 13:19:12

Global banking giant HSBC will explore the use of blockchain for the issuance of fixed income securities in a joint trial with Singapore Exchange (SGX) and investment firm Temasek.

Financial institutions will test the benefits of distributed ledger technology for issuing and servicing fixed income securities, taking into account the characteristics of Asian bond markets.

HSBC noted that bond markets in Asia are growing rapidly, but their effectiveness is poor since there is no single platform for issuing securities and exchanging data between different organizations.

As part of the testing, it is planned to launch a private decentralized network for tokenizing bonds using smart contracts. It should significantly speed up the process, reduce the number of errors and costs for all parties involved.

Tony Cripps, CEO of the Singapore branch of HSBC Bank, said:
“Only by collaborating with market participants will we fully understand its actual viability.”

Technical analysis of Bitcoin (BTC):

Market review, November 14, 2019

Over the past day, the price of bitcoin broke through the support level of $8,600 and dropped to the mark of $8,550. Now, the price of bitcoin is $8,603. We expect the continuation of the negative movements. The nearest resistance levels are $8,630, $8,750, $8,900. The nearest support levels are $8,550, $8,500, $8,400.

Technical analysis of Ethereum (ETH):

Market review, November 14, 2019

Over the past day, the price of ethereum was in the flat between $183-187. Now, the price of ethereum is $184.5. We expect the continuation of the downtrend. The nearest resistance levels are $187, $190, $192, $194, $197, $200. The nearest support levels are $185, $183, $181, $178, $173.

Technical analysis of Ripple (XRP):

Market review, November 14, 2019

Over the past day, the price of ripple dropped to the support level of $0.2640. Now, the price is $0.2637. In the future, we expect the continuation of the downward movement to the support level of $0.2590 and then, a technical rebound upwards. The nearest resistance levels are $0.2690, $0.2760, $0.28. The nearest support levels are $0.2640, $0.2590.

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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