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Cryptocurrency and Blockchain News
“I think it has already hit the bottom, and the bear market is over… For this year, I think Bitcoin will fluctuate between $3,000 and $5,000. The opportunities for market breakthroughs this year include the explosion of the DApp ecosystem, the large-scale application of the Lightning Network, and the three major opportunities for BitTorrent’s 100 million users to enter the cryptocurrency market.
The digital market seems to be attractive to millennials. According to a survey by eToro, in which 1,000 online traders from ages 20 to 65 participated, shows that approximately two-thirds of Millennials participate in online cryptocurrency trading and that they have more faith in such trading than stocks.
Russia’s stance on cryptocurrency remains unclear after the Minister of Justice this week announced that there is still no need to formalize crypto-related legislation. This is because digital assets cannot be used as a means of payment, it asserts because the constitution forbids it.
Bitcoin price corrected lower recently below the $3,640 and $3,580 supports against the US Dollar. There is a contracting triangle forming with resistance near $3,625 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could either climb above the $3,625 resistance or extend the correction below $3,560
IBM has released its blockchain main net out of its data center located in Melbourne, Australia. This will purportedly allow their customers to run their applications on the company's cloud, according to an article published on news outlet ZDNet on Feb 11.
Platforms providing traders with the opportunity to exchange cryptocurrencies have increasingly started to apply registration requirements. In many cases, these are justified on the basis of newly introduced KYC and AML regulations. Thankfully, there are still exchanges that allow users to swap digital coins without requiring a verified account.