Bitcoin has broken the $6,700 mark after a few days of hovering above the $6,500 mark.
This price level is particularly significant given that it was the first drop level after the 10% dip in mid-June 2018. Many analysts had identified $6,700 and $6,900 as crucial resistance points in the march towards $7,000. The big question now is whether the recent gains in the cryptocurrency market signal the start of a sustained bull run or whether it is only a relief rally as some analysts have claimed. The cryptocurrency market has endured a tough 2018 declining by more than 50% of its all-time high set in the last days of 2017.
Help for small businesses
A new £8m Business Basics Fund was announced in a speech to the CBI at the end of June. The Business Basics Fund aims to boost the productivity and performance of small businesses in England. Run by BEIS in partnership with Innovate UK, the Business Basics Fund will help businesses, charities, trade organisations and public sector organisations support small businesses in adopting tried and tested technologies and management techniques. Once the projects are launched, the Government will then work with leading experts to evaluate the effectiveness of each project in boosting productivity, helping to inform future policies.
The beginning of the end for buy-to-let tax breaks?
Private landlords are putting home ownership beyond the reach of at least 2 million families, that’s the conclusion of a radical new report from a new Conservative think tank “Onward”. The Conservatives are concerned about the “unbalanced” nature of the housing market and how it may affect future voting patterns. With now approximately one-fifth of voters – predominantly young voters – living in rented accommodation, and likely to vote for an alternative government, the Conservatives see an urgent need for rebalancing! The report published by the Onward group recommends ending, or severely curtailing, all tax breaks for buy-to-let and private landlords.
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