Bitcoin and other Cryptocurrencies

A new law has been proposed in Germany that would allow banks in the country to act as intermediaries in the sale and custody of digital currencies such as Bitcoin. The proposal is part of a bill that would implement the fourth EU Money Laundering Directive.

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XRP fell to a more-than two-year low today. Will the digital asset recover soon?

XRP fell sharply today, suffering greater losses than other major digital currencies and hitting its lowest in more than two years. The digital token, which is used by the Ripple payment system, reached as little as $0.1826 at roughly 03:00 p.m. EST, CoinMarketCap figures show. At this point, the digital asset was down more than 12% over the last 24 hours and was trading at its lowest since late 2017, additional CoinMarketCap data reveals.

"Now, with Bitcoin's price also experiencing downward pressure, we expect XRP to slide further due to this news."

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Momentum could be building for digital currencies in 2020, driven by the prospects of sound regulation of virtual asset service providers and Bitcoin halving.

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Bitcoin prices moved below crucial support today. Is this part of a broader, downward movement, or will the cryptocurrency continue to rally in 2020?

Bitcoin fell below crucial support today, a move that could trigger additional downside and also threaten the bullish momentum the digital currency has enjoyed in recent weeks. The cryptocurrency dropped to as little as $8,290.24 around 8:45 a.m. EST, CoinDesk data shows. At this point, the digital asset had fallen roughly 3.6% in less than six hours, declining from its intra-day high of $8,597.33, additional CoinDesk figures reveal.

While the cryptocurrency might face additional losses in the short-term, Tim Enneking, managing director of Digital Capital Management, said that in the long-term, he is looking for the digital asset to bounce back.

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After last month, the UK's financial regulator, the Financial Conduct Authority (FCA) assumed its new roles to supervise the crypto currency sector in an attempt to curb money laundering and terrorism financing, the regulator now introduces a two tire registration fee system for all crypto businesses.

Companies that annually make less than 250 000 GBP will pay a 2000 GBP registration fee, while companies with an income exceeding 250 000 GBP will have to pay 10 000 GBP.

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Bitcoin exceeded the $10,000 price level today. Will it head toward $11,000 next?

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Bitcoin markets have been trading between $9,400 and $9,800 after their recent drop. Where will the cryptocurrency head next?

Bitcoin markets have been relatively calm since yesterday afternoon, when the digital currency fell more than 8% in a matter of hours.

The cryptocurrency declined to as little as $9,410.92 yesterday, down from an intra-day high of nearly $10,300, and has since been trading between $9,400 and $9,800, CoinDesk price data shows.

Going forward, bitcoin may benefit from strong support in the short-term and a bullish trend in the long-term, said analysts.

Kiana Danial, CEO of Invest Diva, also weighed in, noting that yesterday’s pullback certainly did not come as a surprise to her, as she was expecting such retracements. In spite of this recent decline, she believes that bitcoin is experiencing “a longer-term uptrend.” When asked what, in particular, made her think the digital currency was following this positive, upward movement, she pointed to the Ichimoku Cloud, a group of technical indicators that analysts use to get a better sense of what an asset will do in the future.

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The Financial Conduct Authority in the UK blacklisted crypto-exchange Kraken for providing financial services or products in the UK without their authorization.

The UK regulator’s warning is in fact quite standard, including the domain, some email addresses and phone numbers allegedly belonging to the unauthorized financial services provider. While the domain undoubtedly belongs to the major crypto exchange Kraken, the latter denied having any affiliation with the email addresses and phone numbers mentioned in FCA’s notice.

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Bitcoin has enjoyed some compelling gains lately, rising in value as the global asset markets respond to concerns surrounding the coronavirus. The digital currency’s strong, upward movement has stalled in the last few days, facing significant resistance, technical analysts claimed. However, this relative malaise will probably pass soon enough, according to several market observers.

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Bitcoin prices plummeted today, shedding approximately half of their value as global markets were afflicted by widespread panic and liquidity problems. The digital currency fell to as little as $3,867.09, CoinDesk figures show. At this point, the cryptocurrency had plunged 49.6% from its price of more than $7,600 at the start of the day, and was trading at its lowest in almost a year, additional CoinDesk data reveals.

When explaining bitcoin’s extreme price decline, analysts emphasized concerns surrounding the coronavirus and a global liquidity crunch.

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