July 2018 has seen Bitcoin and other cryptocurrencies continue to make small gains. Investors seem to be measuring these gains with a mixture of patience and optimism as overall trading declined over the 4th of July holiday in the US. For the week ending July 7th, Bitcoin was holding steady to preserve the 4% gain it achieved during the week. There was little movement of the coin as the week came to a close. $6,635 emerged as a minor point of resistance for the world's most recognized crypto token. Ethereum also held steady. The coin ranged in the area of $467, trending upwards about 5% from July 1st to July 7th. Market capitalization holds near $266 billion across all cryptocurrency tokens. There has been little volatility in the market cap since the beginning of the week when trading showed a sharp uptick. The market statistics seem to reflect indecision on the part of many investors. Some could be waiting for Bitcoin to signal another bull run similar to the one it experienced in late 2017. Market news this week has been a mixed bag. In France, Jean-Pierre Landau advised the French government to steer clear of regulating Bitcoin. Landau is one of France's high-ranking government officials and a staunch supporter of blockchain technology and cryptocurrencies. Germany, on the other hand, repeated calls for caution. The country's Minister of Finance stated that the risks surrounding digital assets were not clear. In other news, professionals in various fields continue to migrate to the blockchain arena. Facebook announced that its Director of Engineering, Evan Cheng, would be taking on the same position in a new blockchain team that has been created by the social media giant. The Gemini cryptocurrency exchange also hired Robert Cornish, a long-time Wall Street professional who previously served as the CIO for the New York Stock Exchange.
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