Hello steemians,
Last week end for a change we had some deep correction for Alts and Bitcoin.
Are crypto done?
Some traders are scared of a 2013 scenario where all crypto could enter in a bear trend for severals months, i don't believe it is happening now.
If you read my last blog posts you know adoption and news users are pouring into crypto world, the trend is too strong to be stopped for long.
Today's news confort my read:
.Japan's Bitpoint could add up to 400k+ stores as payment solution for Bitcoin users.
. Australian gambling market could integrate Bitcoin. European regulators are looking into opening up the gambling market for bitcoin casinos if they obtain a local license.
As Australian government plans to remove double taxation in july, trading activity and use of Bitcoin in gambling industry will probably explode.
.Last week local Bitcoin volume surge again with new high ,"street" demands keep rising.
.China's new Bitcoin regulations expected in June.
On site inspections on bitcoin exchange OKcoin, BTCChina and Huobi are close to completion.
Even with suspension of withdrawal and strict AML policies , bitcoin demand keep rising in China, new regulation might open the road for a new era of bitcoin adoption in China.
.Majors exchanges are saturated by a large influx of new customers and dramatic increases in traffic and trading volume.
Coinbase, Kraken, Poloniex and Bitstamp have issued statements explaining why delay are expected regarding support, KYC and trading activities...
Coinbase has been registering 100 00 news users per week and currently services 7.2 millions customers.
.Segwit could be activated by 1 august 2017 followed 6 months later by HF with a 2MB block size increase.
I hope community will accept the proposal and pass segwit + 2MB. Cost per transactions are so high and adoption keep rising , network need to scale.
.Russians bankers push for cryptocurrency legalization in a statement May 26. Russia is preparing ammendments regarding crypto and it may become "Digital Product" in Russia.
.Huobi will launch Etherum trading on May 31 and released a list of altcoins that will be listed soon.
Steem will be the 10th alts listed to Huobi according to the list below:
.Bitcoin ATM provider Bitlish plan to open 5000 BTC ATMs in Europe in 2017
Today's news clearly demonstrate how strong is the adoption trend this year.
It's totally normal and healthy for the market to breathe a bit after such exuberant price increase.
We could revisit lower price (1500/1700$ range) but In contrary to December 2013, price should moove on again as fundamentals are very strong this time.
Have a great day!
Links:
https://news.bitcoin.com/japan-bitpoint-bitcoin-payments-stores/
https://thebitcoinnews.com/australian-legislations-increase-demand-bitcoins/
https://coin.dance/volume/localbitcoins
http://www.altcointoday.com/chinas-new-bitcoin-regulations-to-be-implemented-by-june/
http://www.altcointoday.com/increased-bitcoin-demand-puts-strain-global-exchanges/
http://www.newsbtc.com/2017/05/29/new-bip-aims-implement-uasf-followed-2mb-hard-fork/
https://news.bitcoin.com/russian-bankers-push-to-legalize-cryptocurrency/
http://bitcoinist.com/china-big-exchange-ethereum-altcoins/
https://www.huobi.com/topic/index.php?a=eth_report
https://cointelegraph.com/news/we-plan-to-open-5000-bitcoin-atms-in-europe-in-2017-bitlish