BTC exchanges in Hong Kong are having quite the trouble complying with the new regulations from the Securities Futures Commission that demands compulsory insurance coverage against crypto theft. Let’s find out more about the insurance policies in the coming altcoin news below. The Securities and Futures Commissions is another one of the regulatory bodies that joined in the prescription of a detailed governance framework for the virtual currency market. However, the nature of the industry brought up to the many factors which lead the platforms facing significant difficulties while trying to abide by the laws. The financial regulator of Hong Kong wants the local bitcoin exchanges to provide full coverage for the customers’ funds. The new law is a part of the regulations which are expected to come since the regulators are aiming to regulate the entire Hong Kong Crypto scene. The SFC published a document offering a general overview of the insurance framework for the BTC exchanges which needs to be followed. An excerpt from the reports reads:

 ‘’The SFC generally expects that the insurance policy would provide full coverage for virtual assets held by a platform operator in hot storage and a substantial coverage for those held in cold storage (for instance, 95 percent).’’

As previously reported in the DC Forecasts latest cryptocurrency news, the Hong Kong regulators choose a different governing option from the other countries including China and Mainland. They did not ban cryptocurrency trading or ICOs but the SFC prefers to make a more robust framework which will allow the crypto commerce to thrive. For the BTC exchanges, however, getting insurance coverage is a major issue. Insurers are not willing to create policies that will provide coverage for an industry like virtual currencies since they are not common. One of the biggest issues comes with the ongoing cyber attacks which harm the BTC exchanges the most. These attacks cost about $2billion in 2018 and some of the major exchanges were contributing with more than 50 percent of the total amount. The Insurance companies will provide only coverage for crypto exchanges and will charge a premium because of the high risks related to the digital assets. The Insurance giant Aon’s Murray Wood noted:

 ‘’The number of insurers and reinsurers that are willing to underwrite cryptocurrency cybersecurity risk is extremely narrow. The amount of available coverage capacity today is under US$1 billion per transaction.’’

The Bitcoin mining hardware giant Bitmain Technologies is in the latest cryptocurrency news today. Even though many traders and analysts were writing it off, Bitmain is ready to resurrect its initial public offering (IPO) plans - hours after Bitcoin has gone crazy and surged to new highs of $11,300. The move comes amid a bullish recovery of the BTC price which surged by more than 150% since the start of this year. Given the increase in hash rate and the mining difficulty, it seems like Bitcoin miners are once again enjoying significant profits - and this is why Bitmain is ready to revive its aborted IPO. As Bloomberg and many best cryptocurrency news sites recently reported, the IPO listing is another attempt for the company to apply for a stock sale in the United States. It is already liaising with experts on how to go about filing with the Securities and Exchange Commission (SEC). There are even some reports stating that the IPO filing could happen as early as July 2019, while other sources are saying that the company is keen on riding the current wave of positive sentiments in the crypto market. Bitcoin's reported target from the IPO, is however, materially smaller than the previous attempt at the Hong Kong Stock Exchange (HKEX). The Bitcoin and altcoin news have confirmed that this move is planned - but is not yet official. Still, insiders from the company say that Bitmain is ready and targeting total share sale in the $300 million to $500 million region. For reference, the 2018 Bitmain IPO filing with the HKEX had a $3 billion share sale target. For those of you who have not been following the Bitmain news, in March 2018 the company's HKEX IPO elapsed, putting an end to the company's efforts and attempts to go public. The result was not surprising given the troubles that Bitmain faced in 2018. Aside from Bitmain, there were other companies seeing their IPOs elapsing - Canaan Creative (another mining firm) was also one of them. All in all, 2018 was a year to forget for Bitmain. Now, Bitmain is ready to turn the page and along with Bitcoin's resurrection - file its IPO and once again present good times for its miners.

The Bitcoin price is all over the news and many best cryptocurrency news sites are already predicting another bullish outbreak. Since BTC visited $11,300 yesterday, there have been talks about the cryptocurrency propelling further, with some stating that Bitcoin to $60k is definitely one of the possibilities. The flgaship cryptocurrency is in an ever-growing chorus and is flying higher. According to one trader named Josh Rager, the bullish situation calls for a prediction. Rager has made a really bold prediction about BTC and said that Bitcoin to $60k is definitely how this nice journey may continue in the coming months. In a series of tweets, Rager noted that the price of Bitcoin goes past the $11,700 mark soon, it will find little resistance and eventually break through to new highs that we have never seen before. https://twitter.com/Josh_Rager/status/1142094183106318337 His 43,000 followers were excited following the Bitcoin to $60k price prediction. Following the latest cryptocurrency news, we can certainly say that Rager is a well-followed Bitcoin trader who never lacks technical data. Late last month, for example, he pointed out that every Bitcoin bull cycle has been longer than the preceding one. https://twitter.com/Josh_Rager/status/1134458358814203904 Given that Rager thinks that Bitcoin to $60k is a possibility and that the current bull cycle will definitely give us new yearly highs, the cryptocurrency still has a lot of room for growth. Hence, the thinks that there will be a resistance at $11,700 as the price of Bitcoin tends to rally for five weeks before hitting the breaks. https://twitter.com/Josh_Rager/status/1142395864452931584 Knowing that the last pullback was just a couple of weeks ago, Bitcoin should keep running higher despite the recent correction. As Rager's technical analysis notes, if that happens, we could see Bitcoin breaking out past the $11,700 resistance and zooming further. A lot of altcoin news sites featured other traders who are setting 'Bitcoin to $60k' targets. One of them is Galaxy, who recently painted a $62,000 price target on Bitcoin based on all the past trends and technicals. He further noted that the cryptocurrency could hit these levels by the end of October this year. https://twitter.com/galaxyBTC/status/1140576413180997632 Meawhile, Fundstrat's Thomas Lee was also in the news with his big price target on Bitcoin. He expected the cryptocurrency to quadruple once it is past the $10,000 FOMO level.

The growing influx of optimism and the next wave of newcomers in the crypto economy have made markets around cryptocurrencies heat up. The coming altcoin news show that besides Bitcoin, Ethereum has also smashed the highest price this year. The bullish crypto situation ignited this week, seeing Bitcoin go higher than $11,300 and Ethereum trade at more than $317. On Friday, the BTC price ended the week by bursting through $10,000 which was seen as a major psychological level. It rose by $700 intraday as many best cryptocurrency news sites showed - settling above $10,150 for the evening. Ever since then, BTC has gone on to reach highs of $10,800 and then $11,300. The June 21st spike made bullish crypto all over the news and powered BTC to its best price so far in 2019, putting the "digital gold" up by 60% since this point last year. The cryptocurrency is now 155% over the last three months and 1,593% over the last five years. At any level above $10,000 - Bitcoin is halfway to its December 2017 all-time high of $20,000. The bullish crypto situation has been likely driven by Libra - the cryptocurrency that the social media network and giant Facebook announced earlier this week. A debate has exploded around it in both crypto and mainstream circles. As the latest cryptocurrency news show, Bitcoin has been brought to the fore as the biggest blockchain with the biggest native cryptocurrency. The founder of the exchange Gemini, Tyler Winklevoss, was bullish on crypto and identified a lot of opportunities if Bitcoin goes above $10k. As he said in a tweet: https://twitter.com/tylerwinklevoss/status/1141387824379441152 This is definitely a very optimistic projection even with the bullish crypto situation right now. However, such a rapid movement would not be unexpected. When Bitcoin hit $10,000 in November 2017, it took less than two weeks for FOMO to nudge the cryptocurrency and make it rocket past $15,000. So, there is no telling if the same trajectory will play itself out once more this year for BTC and ETH. However, the bullish crypto phase is here and we may be days away from a new all time high on the markets. The coming altcoin news have shown that despite BTC and ETH, there is a real growth on the altcoin markets and it seems that institutional investors as well as FOMO (fear of missing out) by individuals are driving it.