The dominance of Bitcoin [BTC] over the cryptocurrency market once again breached the 66.5% mark. The altcoins have continued to fall as the traders continue to lose confidence in them. Nevertheless, the bullish momentum in Bitcoin has still kept their hopes.
According to analyst Nick Cote, Bitcoin is nearing the point where it may reenter its “bull run” phase.
In fact, he writes that should Bitcoin turn the $11,100 to $11,300 region into support, meaning a strong close maybe on the daily and weekly, a move higher would totally make sense. He writes, “[a] weekly engulfing for the bulls has usually had a follow through the following week”.
However, after recording a new 14-days high at $10,919 (Bitstamp rate), Bitcoin encountered the long-term ascending trend-line. That line was supporting Bitcoin since the beginning of May, and only recently Bitcoin broke down from it. Yesterday was the first attempt to get back on top of the line, testing it as resistance.
According to a report published by Brazilian newspaper Valor, Schulman noted he believes the Libra will be a stable and inclusive option for the financial system, as blockchain technology can help include more people in it.
Speaking to the news outlet he noted PayPal has to work according to regulators’ demands, and that the firm spend “hundreds of millions of dollars” in compliance and risk management once he took over as president. He added:
Pretty soon, what we are going to get is two separate groups of crypto addresses: clean crypto and black-market crypto. To get into the clean group, you must declare your crypto addresses, account numbers, location information, beneficiary’s name, etc. If you choose not to disclose this information, you will be automatically assigned to the black-market group.
As Bitcoin continues to inch higher in price, optimism for a better market is growing. Keiser Report host Max Keiser has voiced his own optimism, saying Bitcoin could exceed $15,00 this week. Bitcoin is currently trading at well over $10,800 after it started recovering from the short dip that took it down to $9,000.
According to a recent analysis on Google Trends, it is clear that Bitcoin is a more searched term than Stocks. In this era of technological evolution around the world, several people in the financial industry are turning to using cryptocurrencies rather than traditional assets.
Bitcoin Price: A Surprising Upwards Move
Worldwide Bitcoin Regulation And Acceptance
News in Brief
Given the way things are going, we might be in for an even bigger surge in the near future as Bitcoin is forming a bullish pattern called Golden Cross. The last time we formed this gold cross pattern was in 2016 when started our way to a new bull cycle that would take us to the all-time high at $20,000 in December 2017.
As peer-to-peer cash, it only seems logical that cryptocurrency should be deployed for P2P lending. While that application has taken time to materialize, bitcoin and other crypto assets are now increasingly fulfilling that purpose. Across the BTC, BCH and ETH networks, credit is being supplied to ordinary citizens while bypassing its traditional gatekeepers, usurping the authority of banks and credit agencies in the process.
코인데스크코리아와 부산광역시는 오는 9월3일 해운대 파크 하얏트 호텔에서 디지털 자산 거래소 박람회 ‘DAXPO 2019’를 연다. 각 분야 전문가들을 초청해 다양한 관점에서 디지털 자산 생태계가 맞이한 새로운 국면을 진단할 예정이다.
블록체인 기술과 산업에 전문성을 인정받는 미디어 5사가 공동으로 아시아 최대 규모 블록체인 컨퍼런스 ‘코리아블록체인위크 2019(KBW 2019)’를 오는 9월 27일부터 10월 4일까지 개최한다.
9월30일부터 10월1일 양일간 그랜드 인터컨티넨탈 서울 퍄르나스에서 팩트블록의 ‘코리아블록체인위크(KBW) 2019’ 주간(9월27일~10월4일) 중 메인 행사로 열리는 디파인 컨퍼런스에는 국내외 주요 기업들과 블록체인 프로젝트들이 대거 참여할 예정이다.