#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

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

Read other editions of the 
Crypto Corner

Get the Crypto Corner News by email Get Crypto Corner News

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

Please read Investorideas.com privacy policy: http://www.investorideas.com/About/Private_Policy.asp

Contact Investorideas.com