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Positive sentiments push bitcoin prices up to 147 million rupees and maybe even higher

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Positive sentiments push bitcoin prices up to 147 million rupees and maybe even higher

Positive sentiments push bitcoin prices up to 147 million rupees and maybe even higher

Another week, the good news for Crypto will begin. Considered the norm, Bitcoin (BTC) has already experienced a drastic drop of 199 million to 131 million rupees.

At the time of the press, the Bitcoin price was $ 10,621. 147 million, up 12.21% in the last 4 days compared to 131 million.

BTC prices are lower than those of the beginning of the month or at the end of June. But this week prices received a lot of positive information - and of course negative information.

On the one hand, a congressman called Bitcoin "an unstoppable force"; In addition, the US Treasury Secretary echoes the concerns of US President Donald Trump, who said that cryptocurrency was widely used for illicit actions, such as money laundering and the illegal sale of narcotics, which had been expressed at an emergency press conference.

Unstoppable

Patrick McHenry, who represents District 10 of North Carolina, told CNBC's Congress and "Squawk Box" this week that he firmly believed that Bitcoin and the cryptocurrency movement are "an unstoppable force" .

Although he did not make clear recommendations, he nonetheless suggested that regulators should encourage innovation by being respectful of the "unstoppable force" to ensure that the United States is not disadvantaged.

Chinese authorities confirm that Bitcoin is a "property"

This week, the Chinese Internet court in Hangzhou has confirmed that bitcoin is a form of virtual property, which means that it is legal to hold a cryptocurrency.

Although this does not confirm that all regulators consider Bitcoin a legal asset across the country, which is full of legal, cultural and social nuances between districts, some see it as an important moment for cryptocurrency in China.

Weibo version of Balance Trends (Chinese Twitter)

On China, reports revealed this week that Libya had become a hot topic on the country's intranet.

On Weibo, the Chinese version of Twitter, "Balance" was the second most important trend earlier this week, while China is relatively more interested in Facebook cryptocurrency than US capitalist Dovey Wan, often based in China. .

This sparked a renewed interest in responding to David Marcus' comments at the congressional hearing this week that Libra would be a competitor to WeChat Pay and Alipay.

BitMEX under investigation by CFTC

According to a Bloomberg report released last Friday, citing people who are familiar with the problem, the US CFTC is currently investigating one of the areas of the bitcoin industry.

According to sources, BitMEX is suspected by financial regulators who deliberately facilitate the transactions of American traders, to whom it is technically forbidden to access platform projects. CFTC and BitMEX did not confirm or refute the report.

Arthur Hayes, the Seychelles-based CEO of BitMEX, said his platform is actively disabling operators who are supposed to be in restricted areas to open accounts.

Binance distributes millions of stellar lumens

This week, Binance, recently turned into two, revealed to have recently discovered that they have been using Stellar Lumens (XLM) for over a year now.

The Stellar protocol allows large holders to risk their cryptocurrency, providing a small return. To commit to transparency and satisfy its users, the famous exchanger has revealed that it would give about $ 1 million in XLM value to holders of cryptocurrency on the stock market. In addition, Binance will now give its users a monthly inflation price.

Jamie Dimon does not care about Libra

JP Morgan's Jamie Dimon is not bothered by Libra - or Bitcoin for that matter. Speaking to analysts at a conference call quoted by CNBC, the bank's tycoon said he did not feel at all threatened by Libra.

Jamie is particularly interested in the fact that blockchain has been a technology trend for "seven years" and that "very little has happened," perhaps suggesting that Libra would be a marketing tactic rather than a viable technology. .

The head of the German central bank supports the Libra

The president of the Bundesbank, the German central bank, recently hailed the Facebook-backed Libra project at the G7 meeting, according to an article received and translated by eToro's Mati Greenspan.

In an approximate translation, Jens Weidmann noted that if Libra was published according to its white paper, the final cryptocurrency could be "attractive to consumers". He added that it may not be wise to remove the innovation before the real problem arises.

Coinberry, a Canadian crypto company, works with Canadian cities

This week, the Canadian city of Richmond Hill, located 200,000 people north of Toronto, revealed that it was negotiating with Coinberry. The City of Richmond Hill wants to allow people under its jurisdiction to pay their property taxes with Bitcoin via Coinberry.

Grayscale sees significant institutional flow in Bitcoin products

As reported in Grayscale Digital's latest digital asset investment report in the second quarter, its encrypted vehicles generated more than $ 84.8 million worth of investments in the last quarter, the largest inflow ever since. the beginning of the bear market in the second quarter of 2018.

In the report, much of the capital received by Grayscale in the second quarter was attributed to Bitcoin Trust, the flagship vehicle of the company trading in the US market. It is also interesting to note that 84% of the $ 84.8 million in inflows come from institutional players, in particular "hedge funds".

Bitcoin ban in India seems to be confirmed by leak of documents

More recently, Varun Sethi, a lawyer who seemed interested in blockchain based in India, published a series of 18 photos for Scribd describing the bill "Cryptocurrency Prohibition and Official Regulation of Digital Currency, 2019". ".

After publishing a number of key definitions, the authors of the paper write that if the bill becomes law, "no one will undermine, produce, hold, sell, process, publish, transfer, dispose or use cryptocurrency ( including Bitcoin) on Indian territory. "

Those who violate this law can be sentenced to ten years in prison and fines, according to documents. If this document is valid, it will confirm a Bloomberg report two months ago that Indian regulators want to ban cryptography.
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