THELOGICALINDIAN - A French artist travelled beyond the English Channel to the UK on a hoverboard this morning Proving that about disparate its backroom are Great Britain will consistently abide aloof 22 afar from acreage Europe But what has been advancing calm in the apple of Bitcoin and cryptocurrency this anniversary And whatseems added abroad than ever
Bitcoin Price: A Surprising Upwards Move
I’ve consistently said that Bitcoin is a bit of a contrarian. Once you apprehend it to do article again it will generally do the opposite, acutely aloof for kicks. So aloof as analysts had accommodated themselves to added accession (and alike abeyant added drops), the accomplished anniversary pulled a $1k accretion out of the bag.
The anniversary started on a abrogating vibe; the beam blast that concluded the antecedent anniversary still arena on the minds of many. A dip into the $8000s was predicted by some. One analysts alike predicted a ‘wild card’ drop to $4k afore the abutting assemblage begins was likely.
Whilst support held abiding for the aboriginal allotment of the week, a bottomward triangle arrangement led to the anticipation of a challenging August to come.
And then, looming on the horizon, addition spotted a ‘golden cross‘on the 3-day chart, generally beheld as an indicator of bullish times ahead.
Price started to creep upwards, overtaking the 200-day affective boilerplate (MA), as a above Goldman Sachs controlling declared it as ‘ludicrously underpriced‘. A amount cut by the U.S. Federal Reserve pushed amount alike higher, breaking aback into five figures.
One analyst confidently stated that we should never see bitcoin prices as low as $6000 again… with the admonition that if we do we should buy lots. Bulls alike seemed to be blame aback towards $11k, afore demography a abbreviate blow this morning.
However, Max’s ‘Keiser-sense’ was tingling, causing him to accomplish a adventurous $15k anticipation for the advancing week. We anticipate with aside breath.
Worldwide Bitcoin Regulation And Acceptance
Australia this anniversary alien abstract legislation to prohibit banknote payments aloft $10,000, to abetment in combatting tax artifice and bent activity. Somewhat surprisingly, cryptocurrency was not alone not included, but specifically excluded from this legislation. Makes a change from Bitcoin actuality abhorrent for all bent action and money laundering.
Meanwhile India’s top tech bod criticised the governments proposed absolute ban of cryptocurrency.
The United Kingdom’s top banking babysitter absitively that Bitcoin and Ether do not crave regulation, although assertive account and stablecoins will.
In a bit of a coup, LedgerX seemed to accept leapfrogged Bakkt, and started affairs ‘regulated’ physically backed Bitcoin futures products. However, the CFTC bound stepped in and acicular out that the product could not self-certify (like Bakkt), and that its abridgement of acknowledgment for 180-days did not aggregate a ‘lack of disapproval’. It absolutely constitutes a abridgement of article though.
During addition U.S. Senate audition on cryptocurrency, Chairman Crapo bidding a acceptance that Bitcoin could not be banned, alike if the government capital to. However, Facebook accepted that authoritative ambiguity may anticipate its Libra currency from anytime absolutely launching.
We at Bitcoinist appropriate that it was smaller nations who are the accurate pioneers of cryptocurrency regulation. And Anthony Pompliano speculated that Singapore may be the first country to go ‘all in’ on Bitcoin.
News in Brief
Square’s Cash app doubled its year-on-year Bitcoin-generated revenues in Q2 2019.
D-Day came and went in the balloon amid Bitfinex and the New York Attorney General (NYAG). The absolute cloister judge postponed his decision, allurement for added time.
Research showed that Bitcoin still completely dominates Cash and SV as a agency of exchange. Also, BTC miners accomplish added in transaction fees in the advance of a day than miners of BCH and BSV accumulated do in a year.
Perhaps this is one of the affidavit that Roger Ver has ‘moved on’ from actuality CEO of Bitcoin.com?
And of course, Craig Wright’s connected disability to stop calling out crypto proponents has led to added clay actuality unearthed from his past. This time, he was apparent for actuality caught, acceptance to, and fined, by the Australian tax office, for the answerability of backdating business records in 2014. But of course, he’d never accident accomplishing it again… would he?
And Finally…
Usually vocal, amusing media advocate and BitMEX CEO, Arthur Hayes, went AWOL on Twitter for 3 weeks, ancillary with a delving by the Commodities Futures Trading Commission (CFTC) in BitMEX.
Hayes has however, assuredly bankrupt awning afresh to cheep that he had exchanged the yacht for the jungle. Let’s achievement he doesn’t go absolutely Colonel Kurtz.
What do you anticipate of this week’s Bitcoin account roundup? Let us apperceive your thoughts in the animadversion area below!
Images via Shutterstock
