Bitcoin has built quite a reputation nowadays but can governments stop it simply enough if they wanted? Let’s find out more about the latest bitcoin news today.
Bitcoin rose to unfavorable conditions and the network itself resisted the censorship of a few governments in the world. Bitcoin could end up getting taken down without even touching the network according to the crypto analyst Alex Kruger. He suggested that the permanently low market price with no chance of a huge rally could put the investors off from the asset. Bitcoin is very attractive in 2019 and it could rally again to an all-time high, spiked by the expected halving event and the scarcity of the new BTC coming in each day.
The crypto market has a small volume compared to mainstream finance. And in theory, the government could use its immense financial power to sway the market in a direction so the observation of direct government influence has been made regarding the launch of the futures market. The analysts commented that the decision to launch the Bitcoin futures on CME and CBOE back in 2017 which was a concerted move that tamed BTC market prices.
At the time of writing, the bitcoin trading this year is happening on largely diverse exchanges and the swaying prices on all markets could be extremely problematic. If one entity acted on the exchanges that base the prices for bitcoin futures, there would be some markets that will continue with a highly independent valuation. It is still unknown can governments stop bitcoin from the US and China among the possible candidates especially after the recent stance of the Chinese president on blockchain technology.
So far, there are only smaller states that tried to ban the usage of bitcoin and the crypto space is not trying to dose the censorship and there is a rather long list of countries where some of the residents don’t have the opportunities to gain access to crypto-assets and the exchanges are able to enforce the ban. The market prices of the leading cryptocurrency are among the top factors that boost the interest in trading and purchasing the coin. BTC shows the high potential to turn bearish and slide to a lower range and there is also a marked withdrawal of the trading volumes as well as to the exchange inflow.
Bitcoin Gold Got 51% Attacked, Now Surges By 19%
“Based on Nicehash market price data for Zhash we estimate the cost of generating each reorg at around 0.2 BTC (~$1,700) and the attacker would have recouped around the same value in block rewards. Therefore, it is possible that the attacks were profitable if the double-spends succeeded at defrauding the attacker’s counterparty, or break-even if the double-spends were unsuccessful. This suggests that a confirmation requirement on the order of tens of blocks for BTG is still far too few to make the budget constraint to launch an attack significant,” the report read.
Key BTC Indicator That Called 2019 Bull Run Flashes Again
BTC/USD gained around 3.8% since Friday, having bounced off the local lows around $8,200. “Nice breakthrough of $8,600 level and we're back in the range. This means that the $8,000-8,100 level has now flipped as support,” he summarized in a tweet on January 27.https://twitter.com/CryptoMichNL/status/1221701112505552897The key BTC indicator which flashed green also led van de Poppe to think that "a retest of $8,500" is possible after which "we can aim for $8,900" as he said.A classic guidance signal for Bitcoin is also the Mayer Multiple, which is firmly supportive of Bitcoin as a buying opportunity this week. Meanwhile, the Bitcoin news now show that the leading cryptocurrency is at $8,643 with a 2.30% increase on the day.
The Mega Rejection At $9,200 Which Worried BTC Bulls
“Overall, Bitcoin is exactly where [I] anticipated; slowly grinding up towards previous resistance… I’m very much of the opinion that Bitcoin will reach to at least $12,500 level before the halving,” he said.Another analyst wich a Twitter nickname Financial Survivalism said that he thinks that BTC is on track to hit $20,000 by July 1st and would likely extend its gains in the news few months.
Bitcoin Needs PR From People Like Peter Schiff: Binance CEO
“I think Peter is doing great to promote bitcoin. He probably does not realize that given his illogical reasoning, most people will do exactly opposite of what he says,” he wrote.https://twitter.com/cz_binance/status/1220978020686548992In the Binance news, CZ concluded saying that “We need more of these types of ‘negative’ voices.”Bitcoin needs PR from people like Schiff and as CZ said, the gold bug was already notorious for his posts attacking Bitcoin which claim that gold is superior to the cryptocurrency. Last week, however, Schiff was undermining his credentials after he blamed the wallet provider blockchain for "losing" his Bitcoin holdings worth 0.21 BTC ($1,750) that he received in the form of donations in 2019. In the event, Schiff had simply confused his pin with his password - something that went viral in the cryptonews all over the world.However, Schiff continued to allege that Bitcoin investors were the true ignorant party for choosing cryptocurrency over the precious metal.
“Bitcoin bugs are saying I'm not qualified to give advice about Bitcoin because I don't know the difference between a pin and a password. I know the difference now and my advice hasn't changed,” the tweet which inspired CZ read.Schiff also added that "Those bitcoin bugs still don't know the difference between #Bitcoin and #gold."Binance CEO thinks that Bitcoin needs PR from people like Schiff and it is clear why he resonated with this. On the other hand, many experts believe that Schiff failed to react to market movements and lost people money.As to what the gold bug claims, the precious metal has failed to deliver for investors in 2020 already, firmly decreasing while Bitcoin boomed this year. Meanwhile, the crypto market is very stable today and Bitcoin seems to have stabilized, potentially leading the market to a new rally.
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