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Regulators step up as Bitcoin losses $ 10,000: Weekly Crypto Market Update



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After a few quite turbulent months, the cryptocurrency market slowed down. However, the volatility of bitcoin fails to do any grace with the mind of investors. Meanwhile, we can't seem to see new money in the market, and many investors are sitting on the sidelines to try out the wind direction.

At the same time, it is important to note that the trading volume has grown steadily since April.

Chart (1) -minq1
Source: coingekko

Although it should be noted that the volume is not under full control and often some exchanges do not reflect real activity, but an attempt to manipulate investors. Cryptocurrency market is still relatively young and small, hence strong players are able to move the market. We can see the distribution of cryptocurrency in the domestic market today, by domineering:

CHAINALS minq1

Regulation is here and there is no way for legislators to ignore the crypto phenomenon that continues to gain momentum. Facebook's Libra raised the issue of digital currencies at the top of the agenda, and many global economic system executives have already expressed their positions on this issue, including the US. There. President Donald Trump. Despite the many anxieties surrounding the Libra project, there is no doubt that the regulatory debate on the subject will be promoted. We expect to see more and more regulators look closely at the industry and publish their guidelines and clarifications, as well as strict enforcement over exchanges, fundraising, etc.

In spite of the attempts by some Altcone to break through, it seems that it is still early for another old-time, especially because most of them have experienced massive losses in recent months. In addition, the volatility of bitcoin does not contribute to currency trading and traders wait for signs of stability that will give them some confidence.

In addition to the colorful Altcone market, we are hearing more and more about companies such as Telegram, Facebook and other giants, seeking to publish their own Cryptocurrency, along with many countries and banks that are testing the new technology in an attempt to benefit from it. . At the same time, there are such such as the Palestinian Authority which consider replacing their own currency with digital currencies to eliminate the dependence of the Israeli economy.

In conclusion, it is probably safe to say that Cryptocurrency is here to stay and it's hard to remain indifferent to the events of late and the Ivory Towers already realize that this potential needs to be exhausted.

Market data

Market drop: $ 272.4 m

24 Hours Part: $ 56.5 m

Btc Dominance: 65.2%

BTC Shorts (BFX): 6.6 K BTC

BTC Longs (BFX): 22.4 K BTC

IMG_1381 minq1

Increasingly serious about Crypto regulation: FCA looks to hire industry specialists. The financial authority (FCA) of the UK, which is responsible for controlling the country's financial markets, is taking steps to increase its involvement in the Crypto site. The regulator seeks to hire specialists to connect two of his specific divisions.

You cannot kill Bitcoin, Rep. Patrick Makhenry. The US There. Congressman Patrick Henry, serving the 10th District of North Carolina, said even though the Chinese could not kill Bitcoin. He also said there are many other projects that attempt to mimic him, but that they are not distributed and are not entirely public.

Accident? CFTC Zones Bitmx after the Robbini debate. Bitmex, the most popular exchange trading for Bitcoin boundary, has been reported to be investigated for allowing American-based traders to use its platform. Interestingly enough, this is coming shortly after the heated debate between Bitmex CEO Arthur Hayes and Nouriel “Dr. Doom ”Roubini.

Bitcoin holdings of bitcoin surpass their gold reserves. It appears that the small country of Bulgaria has possession of bitcoin which is worth more than the entire gold reserve. Supposedly, the country holds more than 200,000 Btc, which is now around $ 2 billion while the gold reserves are around $ 1.8 billion.

China Ruling Bitcoin Is Again Property Is "Major Milestone" says Investor. In what seems to be a major bitcoin bitcoin, a second Chinese court ruled that attributed property status to Cryptocurrency. Industry experts consider this to be a significant step forward for the site in the country.

Backup begins without testing Bitcoin Futures platform after hype and delays. The highly anticipated launch of backed-up user acceptance testing (UAT) kicked off. The platform is starting to accept users for trading its Bitcoin daily and monthly future contracts from all over the world.

Charts

The week we have analyzed bitcoin, Ethereum, Ripple, Binance coin and Hobby Token; Click here for the full price analysis.

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