#CryptoCorner: #Crypto Market Loses $10 Billion in 24 Hours, US Govt Establishes Task Force to Combat Digital Currency Fraud etc. and India May Not Ban Crypto After All
#CryptoCorner: #Crypto
Market Loses $10 Billion in 24 Hours, US Govt Establishes Task Force to Combat
Digital Currency Fraud etc. and India May Not Ban Crypto After All
July 12th
#CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay
($NXTD)
Point Roberts, WA, Delta BC – July 12, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner.
Listen to the Crypto Corner Podcast:
Crypto
Corner – July 12, 2018
Read this in full at http://www.investorideas.com/news/2018/crypto-corner/07121USGovt-India.asp
Crypto Market Loses $10 Billion in 24 Hours, US Govt Establishes Task
Force to Combat Digital Currency Fraud etc.. and India May Not Ban Crypto After
All
The crypto market has fallen even further, losing
$10 billion USD in the last 24 hours for a total market cap of $245 billion USD
at press time. Data from CoinMarketCap shows that virtually every one of the top 100
coins are in the red with Bitcoin (BTC) trading at just $6200 USD. Is this Q2
price decline a vindication of crypto critics, or is simply time to stock up on
discounted coins? A report from CCN by writer Joseph Young argues that low volumes are
driving the drop in prices.
“The low volume and lack of demand from bulls have
reduced the probability of a corrective rally occurring in the next 24 to 48
hours. If bitcoin can recover back to $6,300 and stabilize in that region, it
could eye a move towards $6,400. However, if BTC fails to find any momentum at
this price range, a further drop is inevitable.”
But where does that leave the widely-reported predictions for Bitcoin (BTC) hitting $50,000 USD
by the end of this year or even Fundstrat co-founder Tom Lee’s comparatively
modest $25,000 USD projection? CCN’s Joseph Young says:
“In essence,
$50,000 and $60,000 BTC price targets by the end of 2018 are based on an
assumption that a significant change can be made on the regulatory side of the
cryptocurrency sector that can enable various publicly tradable instruments
like bitcoin exchange-traded funds (ETFs).”
President
Trump signed an executive order yesterday which establishes a task force devoted to
securing market integrity and combating consumer fraud. Comprising the Deputy
Attorney General as chair, the task force’s function is outlined as “providing
guidance for the investigation and prosecution of cases” which includes digital
currency fraud.
Contrary to
expectations, India’s government may opt to treat cryptocurrencies as
commodities as opposed to imposing a blanket ban, according to a report from Quartz yesterday. A senior government official who requested
anonymity told Quartz that the government was more concerned with regulation
and classification than a ban.
“I don’t think anyone is really thinking of banning
it (cryptocurrencies) altogether. The issue here is about regulating the trade
and we need to know where the money is coming from. Allowing it as (a)
commodity may let us better regulate trade and so that is being looked at.”
Sam Mowers, Investorideas
Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of
cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD).
By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders
to seamlessly exchange their cryptocurrency for US dollars and store that value
on a contactless payment device that can be used to make purchases at millions
of retail locations. https://www.fliptopay.com/
Investorideas.com is a leader in Blockchain content
with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com
Join our LinkedIn Group Blockchain
and Digital Currency Stocks and ICO's - Latest News and Commentary https://www.linkedin.com/groups/13560073
About Investorideas.com - News that Inspires Big Ideas
www.Investorideas.com is a meeting place for global
investors, featuring news, stock directories, video, podcasts, company
profiles, interviews and more in leading sectors. Sectors we cover include tech
(AI, drones, internet of things) , payments, crypto and blockchain, biotech,
mining, energy, renewable energy, water , marijuana and hemp stocks, food and
beverage, defense and security (biometrics/cyber) ,Latin America, sports,
entertainment, luxury brands and gaming.
The
Investorideas.com podcasts are also available on iTunes, Tunein, Sticher.
Spreaker.com, iHeart.com and Google Play Music.
Visit
the Podcast page at Investorideas.com: http://www.investorideas.com/Audio/
Disclaimer/Disclosure: Investorideas.com is a digital
publisher of third party sourced news, articles and equity research as well as
creates original content, including video, interviews and articles. Original
content created by investorideas is protected by copyright laws other than
syndication rights. Our site does not make recommendations for purchases or
sale of stocks, services or products. Nothing on our sites should be construed
as an offer or solicitation to buy or sell products or securities. All
investment involves risk and possible loss of investment. This site is
currently compensated for news publication and distribution, social media and
marketing, content creation and more. Contact each company directly regarding
content and press release questions. Disclosure is posted for each compensated
news release, content published /created if required but otherwise the news was
not compensated for and was published for the sole interest of our readers and
followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: this newsletter is sponsored content by
featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip More info: http://www.investorideas.com/About/News/Clientspecifics.asp
Cryptocurrency Disclaimer
Investorideas.com news content is not
meant to be a solicitation to buy or sell cryptocurrencies and
Investorideas.com does not directly sell cryptocurrencies; but acts as a news
and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto
Corner is an Investorideas.com content brand
Contact Investorideas.com
800-665-0411
Comments
Post a Comment