I Cover News In The Following Order :
- BTC Price Update
- Crypto News
- Twitter Updates
Bitcoin Price Update:
A possible wedge formation in place, the markets overall have been dormant with sideways price action.
NEWS
1) Bullish Signs Above $8K: Has Bitcoin Turned the Corner?
To start with, the sharp recovery from lows below $6,000 does indicate a short-term bottom is in place. However, BTC is still down 39 percent on a year-to-date basis. Further, the series of lower highs as represented by the falling trendline is still intact.
While, BTC has a history of rallying to fresh record highs after the relative strength index (RSI) has bottomed out at, or below, 30.00 (oversold region), the daily chart throws some doubt on that pattern today.
Source: https://www.coindesk.com/bullish-signals-above-8k-but-has-bitcoin-turned-the-corner/
2) Cryptocurrency speculation could ‘destroy’ innovation, Singapore central bank exec says:
Sopnendu Mohanty, chief fintech officer of the Monetary Authority of Singapore (MAS), told CNBC that he did not want speculative investing in the digital currency space to
"destroy the experimental value of cryptocurrency."
Mohanty said:
"That's a key part because we are going to continue to experiment on this fabulous technology and find the use case, hopefully, in the long run.
A number of established banking giants, including Bank of America Merrill Lynch, Citi and Credit Suisse, are involved in MAS' blockchain project.
Concerns over speculative trading, extreme volatility and illicit activities in the cryptocurrency space have led regulators to step up pressure on the market.
IMO: The last 2 sentences bring me pure joy as a long term HODLer
3) Abu Dhabi Markets Watchdog Mulls Crypto Exchange Regulations:
Abu Dhabi's markets regulator is considering drawing up a supervisory framework for cryptocurrency exchange operations.
In an announcement Sunday, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market said it is "reviewing and considering the development of a robust, risk-appropriate regulatory framework to regulate and supervise activities of virtual currency exchanges and intermediaries."
The FSRA said the move would be an addition to guidance it issued in October 2017 regarding a regulatory approach toward token-based fundraising activities such as initial coin offerings.
Given the rising popularity of cryptocurrencies in the region, the FSRA said then that it would apply existing anti-money laundering and know-your-customer (KYC) rules to token sales, classifying some as securities and others as commodities.
Source: https://www.coindesk.com/abu-dhabi-markets-watchdog-mulls-cryptocurrency-exchange-regulations/'
IMO: Personally I'm very happy this is happening as a lot of people from India are using it as a means for money laundering ( why India because Bitcoin prices are traded at a premium over here)
4)T-Mobile's Blockchain Work Is Quietly Coming Together:
T-Mobile has been quietly toiling away on an enterprise blockchain solution for months, and it looks primed to make a big reveal soon.
The telecom giant's interest in blockchain was most recently advanced after the company was prominently mentioned for its role in helping develop Hyperledger Sawtooth's 1.0 version. Yet, its overarching blockchain work is not widely known.
And while details are still being kept under lock and key, Chris Spanton, the senior architect of T-Mobile's Hyper Directory, a blockchain proof-of-concept (PoC) that was quietly unveiled in November
In interview with CoinDesk, he added:
"Creating Hyper Directory solved core IAM use cases we had in our cloud infrastructure, and building it as a blockchain solution provided unique opportunities to push forward our deep technical expertise."
Source: https://www.coindesk.com/t-mobiles-stealth-blockchain-work-quietly-coming-together/
IMO: I absolutely had no Idea that this was even happening, looks like everyone has climbed aboard the Blockchain bandwagon, all jokes aside why did it take a decade for people to catch up on the Blockchain technology ??? Comment Below
5) ‘Fraudulent’ Bitstrade Platform Gets Cease And Desist Order From New Jersey Regulators:
Local US regulators of the state of New Jersey announced they had sent a cease and desist order to cryptocurrency investment platform Bitstrade Feb. 9, describing the business as “fraudulent.”
A press release accompanying the “emergency order” warns that Bitstrade was not licensed to offer securities in the state of New Jersey, and that it was “violating the law” by not disclosing key information about its operations.
The enforcement came courtesy of New Jersey Attorney General Gurbir S. Grewal, as well as its Division of Consumer Affairs, Bureau of Securities and Division of Law.
The release states:
“...[T]he Bureau found that Bitstrade is violating the State’s Uniform Securities Law by offering investors an unregistered security in the form of an investment pool that purportedly guarantees up to 10 percent returns which accrue daily on investor funds. Bitstrade is not registered to sell securities in New Jersey,”
TWITTER UPDATES
Waltonchain : Partnership
Binance : Can't believe people even fall for this
Electroneum : Buy Qash already
Thankyou
I post daily content, so here's yesterdays news update if you missed that :
I would like to thank Matt of Altcoinbuzz for the continued support, I cannot begin to express how grateful I am to you
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Sorry for the delay I finished this post many hours ago.. I still have this bloody bandwidth limit problem
Cheers :)