Cryptocurrency market news on October 22

The price of cryptocurrencies such as Bitcoin, Ethereum, and others changed several times during the last 24 hours. There are thousands of digital currencies. However, only several digital currencies are well-known around the world. The cryptocurrency markets are continuously developing, and each year many exciting projects connected to this market are created around the globe.

The largest cryptocurrency in terms of market capitalization is Bitcoin. At the same time, one of the widely known digital currencies. It means that investors, crypto enthusiasts are constantly monitoring the situation to learn more about the latest trends. The memory is still fresh as in December 2017 its price was close to reaching $20,000.

Recently, Bitcoin was able to break the resistance level above $8,100 and $8,200 against the U.S. dollar. As a result, it had a chance to surpass $8,300. However, Bitcoin was unable to strengthen its position.

Right now, Bitcoin’s price is $8,222. However, we should take into consideration that Bitcoin is facing an immediate resistance above $8,260 and $8,280 levels. The main resistance is above $8,300. In case of success Bitcoin’s price may even come close to resistance level above $8,500.

The second-largest cryptocurrency is struggling to break the resistance above $178 and $180 levels. On October 21, Ethereum was able to surpass the resistance above $175 as well as $178. However, this was not enough to achieve further gains, and the price fell below $175.

At the moment, Etherum’s price is $174.

Cryptocurrency and Russian ruble

The CEO of Binance, Changpeng Zhao, attended the annual Open Innovations conference in Moscow, Russian Federation. It is an interesting fact that Malta-based Binance is the largest cryptocurrency exchange by volume.

The Open Innovations conference dates back to 2012 when it was first held in Moscow. This forum attracts famous people from private as well as governmental organizations.

The CEO of Binance made an important announcement during this conference. He confirmed that fiat options would become available soon. According to Changpeng Zhao, the first fiat currency to receive support will the Russian Ruble.

In several weeks, people will have the opportunity to start trading. Until now, binance.com only supported crypto-to-crypto trading.