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Good news is the UK is opening up, allowing businesses to explore a nascent but rapidly expanding asset class in cryptocurrencies. And this was expected. After all, the UK and London to be exact are a financial epicenter laden with banks and all kinds of brokerage firms.

Read: CoinBase Announces Crypto Earning Opportunity Via Invitation To “Coinbase Earn BAT”

By allowing B2C2 to offer crypto derivatives in a contract for differences (CFDs) to potential institutional customers, the FCA is effectively allowing willing funds and other institutional grade customers to make leveraged bets on future prices of supported digital assets. This is beneficial and while it not only increases liquidity as the different type of traders are drawn into the market but businesses stand to reap big benefits from betting on further prices under a regulated environment.

Besides, these traders would get in and out of trades without the need of holding storing a wide variety of these tokens. The move comes days after the FCA released a Consultation paper on Crypto assets Guidance as the regulator provides additional guidance to the existing “regulatory parameter.”

Also Read: New Zealand’s Cryptopia Hack Sees $3.2 Million Liquidated Via These Crypto Exchanges

Christopher Woolard, executive director of Strategy and Competition said this about this:

“This is a small but growing market and we want both industry and consumers to be clear what is regulated, and what isn’t. This is vital if consumers are to know what protections they’ll benefit from and in ensuring we have a market functioning as it should.”

Meanwhile, BCH prices are steady and up 3.5 percent in the last day meaning it is the third highest performer after Binance Coin—pumped by BTT listing and Litecoin gearing for privacy features. All the same, there is demand for BCH and unlike BTC which is literally struggling and on the brink of a total meltdown; there are hints of increasing demand especially in lower time frames.

Moving on, we shall take a neutral stand and until all the trade conditions laid out in previous BCH/USD trade conditions are met, BCH is temporarily bearish in a trend whose short-term trajectory points to bulls. As we can see from the chart, prices are finding support from around 61.8 percent and 78.6 percent Fibonacci retracement levels.

However, until after there are convincing, the high-volumes break above $135 minor resistance level, sellers are in control and we shall adopt a neutral stand as laid out in a previous analysis. It is easy to see why this is valid.

Gains above $135 validate gains of late Dec—early Jan 2019 gains and if typical retracement rules apply as Fibonacci dictates, then odds are BCH prices will retest $230—Dec 2018 highs from where the tool is anchored on. But there would be no better confirmation of this shift if prices don’t print above $135 minor, buy trigger line.

All Charts Courtesy of Trading View–CoinBase

Disclaimer: Opinions are those of the author. Do your Research.

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