Regulated Crypto –Good or Bad? – The UK’s
Parliament and British Lawmakers get together today in order to discuss what regulations might need to be put in place for Crypto-currencies. So far the UK’s view has been rather muted, taking a watchful approach and choosing to sit on the sidelines. “People are becoming increasingly aware of cryptocurrencies such as Bitcoin, but they may not be aware that they are currently unregulated in the U.K.,” said Nicky Morgan, a Conservative lawmaker and the committee’s chairwoman. “Striking the right balance between regulating digital currencies to provide adequate protection for consumers and businesses, while not stifling innovation, is crucial.” No evidence sessions have been announced as of yet.
- My own belief is that regulation is inevitable and needs to be faced head on. Regulation does go against the ethos of what Crypto-currency is. But, for it to enter the mainstream and be embraced by the masses it will need to undergo an delicate ‘reconstructive surgery’ to enhance its image for all. Regulation in this context is the Scalpel. Let’s hope no arteries get nicked!
Bitcoin Battle Ground Day 6 – Bitcoin is now in its 6th day of consolidation. It appears that $11,100 is proving to be a tough resistance to crack. – Bitcoin’s Segwit has now been implemented across a number of Platforms/Exchanges helping to reduce Bitcoin Tx Fees and Increase the speed of Tx’s. You would expect that would be enough to push the price higher…? The market thinks otherwise.
- If we look back at when we were last at these levels it was early December. Early December is also when trading volumes started increasing and a small portion of the mass market retail investors entered the space. I personally suspect that many that bought Bitcoin in early to mid December and felt the rise to $20,000. They then “Hodled” thinking the fall would bounce. It didn’t. We are now back to square one with those that bought back in early December deliberating selling now and breaking even and at the same time new investors entering the market at this stage seeing the bounce from $6,000. The end of this consolidation is in sight – the question is who runs out of steam first – buyers or sellers?