With BTC crashing through multiple support levels today, it's easy to get swept up in the downward trajectory of sadness. A number of catalysts caused the last week of fairy tail gains to quickly erase, including:
- Morgan Stanley's claim that Bitcoin is in need of regulation
- BitMain's news of their bitcoin fork plans
- A bill introduced in the USA about visitors to the State's needing to declare cryptocurrency's
- Australian politicians calling for regulation of Bitcoin as it is a tool for terror
BUT - a number of positive developments came out today too. As Bitcoin and cryptos gain a wider audience, we're starting to see interested parties from a number of different venues appear. Below the doom and gloom / negative headlines today, there was also the following stories of interest:
- Illinois Eases Burden for Cryptocurrency Startups with New Guidance - http://www.coindesk.com/illinois-eases-burden-cryptocurrency-startups-new-guidance/
- FINRA to Host Blockchain Event in New York Next Month - http://www.coindesk.com/finra-host-blockchain-event-new-york-next-month/
- US, Kenya, Singapore: AIG Completes Multinational Blockchain Insurance Test - http://www.coindesk.com/aig-launches-blockchain-pilot-multinational-insurance/
- Bitcoin’s Price Continues to Rise – Analyst Says it’ll Reach $100,000 in Next 10 Years - https://themerkle.com/bitcoin-price-continues-to-rise/
- And many other articles highlighting the acceptance of the blockchain into the main stream...
In summary, the price swings/regulatory/dark aspects of the crypto world can be daunting, but progress has been made and will continue to be made. Keep your heads up people!