CoinNess.com Market Surveillance July 10: BTC Trading Around $13000 Level
As of 11:00 (UTC) on July 10, the global index of Bitcoin (BTC) price swings around the $13,000 level, marking $12,971.24. It has registered an increase of 4.68% in the past 24 hours. 
The CoinNess.com Bullish vs. Bearish Indicator shows our four-hour technical bias on BTC is "Strong Buy" with three indicators sending out two selling signal, one showing a neutral signal, and 14 indicating a buying signal. 
The broad market shows a downtrend, with 30 out of Top 100 cryptos by market cap rising. 
The global market cap reads $355.05 billion, and the 24-hour trading volume is $78.39 billion.
Major Coins 
1. BTC quotes show 12988.02 USDT on Binance, $13,028 on Bitfinex and $13,012.93 on Coinbase Pro; 
2. CoinNess.com Market Index presents quotes for major cryptocurrencies besides BTC as following:
ETH marks $309.51 (-1.09%);
XRP marks $0.395 (-0.74%);
LTC marks $119.02 (-1.31%);
BCH marks $416.41 (-0.96%);
EOS marks $5.84 (-2.12%);
ETC marks $7.80 (-1.80%). 

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1.  Chinese cryptocurrency miners have officially requested to set up shop in Iran, taking advantage of cheap energy to power and cool their electricity-intensive servers.
According to the managing director of Iran Blockchain Association, a nonprofit community which promotes blockchain technologies, initial discussions have been held with the Chinese about their plans in Iran.
"The Chinese have made requests through official channels for cryptocurrency mining in free zones," Mohammad Sharqi said.

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2. In April, Binance, the world's largest crypto exchange by daily trading volume, soft-launched Binance Singapore, enabling users in Singapore to purchase and sell crypto assets like Bitcoin using the Singaporean dollar (SGD) through FAST, better known as Fast and Secure Transfers electronic funds transfer system.
On July 10, Binance announced the official launch of Binance Singapore in partnership with Vertex Ventures and Vertex Ventures Southeast Asia and India following two months of operation, during which it saw Binance Singapore's user base grow by around 20 percent per week with a substantial increase in daily trading volume.
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3. Russia’s parliament, the State Duma, may defer the adoption of the country’s major crypto bill “On Digital Financial Assets” (DFA) until the autumn session, local news outlet TASS reported on July 9.
The Duma is considering shifting the adoption of the DFA bill to the autumn session, while the representatives have largely agreed on a bill on crowdfunding, according to the chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov.

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1. ZHOU Xiaochuan, former governor of the People's Bank of China (PBoC), stated on July 9 that Libra represented the trend of digital currencies, and China should take precautions. 
According to ZHOU, in future there may emerge a more internationalized, globalized currency, a currency so strong that will cause major currencies to establish exchange relations with it. It may not necessarily be Libra, but there will be more institutions and people try creating it.                                                    

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Question: What Determines the Price of Bitcoin?

Answer: 

• The supply of Bitcoin and market demand for it
• The number of competing cryptocurrencies
• The exchanges it trades on
• Regulations governing its sale
• Its internal governance

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