Ripple (XRP) Gains Regulatory Clarity in the UK: What’s Next?

Ripple

While cryptocurrencies may have initially started with a revolutionary idea about decentralized financial systems, most cryptos are now looking for ways to enter the mainstream. However, for that to happen, there needs to be regulatory clarity, and once it is achieved, then regulated cryptocurrencies can manage to attract investments from institutional investors.

Over the past months, the regulatory bodies in the United States have expressed skepticism towards cryptocurrencies at large and even the President urged Facebook to apply for a bank if it wanted to launch its cryptocurrency Libra.

Bullish for

However, …

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Source: cryptocurrencynews
Ripple (XRP) Gains Regulatory Clarity in the UK: What’s Next?

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Tezos (XTZ) Gains 200% YTD As Buyers Get Excited

Tezos

() is making solid this year amid continuous buying activities on multiple developments.

Key Developments

For as long as the crypto sphere has existed, has been synonymous with it, and this is only natural, considering the fact that it is the cryptocurrency with the highest market cap. Moreover, ’s rise has been nothing but spectacular, and any fluctuation in the price of the token can result in similar effects on all other tokens. In other words, remains the most powerful cryptocurrency in the world, and it is not only because of the …

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Source: cryptocurrencynews
Tezos (XTZ) Gains 200% YTD As Buyers Get Excited

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Litecoin (LTC) Gains Momentum Post Halving, Jumps 7%

Litecoin

() has been one of the more popular altcoins in the crypto space for some years now, and during that time, it managed to become one of the biggest cryptocurrencies by market cap.

LTC Jumps 6%

This year, the developers of the blockchain made a momentous decision after it announced that the rewards for Litecoin miners were going to be halved. This created a lot of speculation as to the effect it would have on the token’s price. The event that was being called “the halvening” created a lot of discussions in the crypto space, …

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Litecoin (LTC) Gains Momentum Post Halving, Jumps 7%

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Bitcoin Gains as Trump Threatens $300B Tariffs on Chinese Goods

The bitcoin price soared higher on Friday after US President Donald announced $300 billion tariffs on Chinese goods.

The world’s largest cryptocurrency touched the $10,527-high ahead of the European market open, posting up to 2.47 percent intraday . The upside action brought its weekly profit closer to 11 percent, accompanied by a decent rise in volume on spot exchanges. The move further influenced the rest of the cryptocurrency market to follow suit, with the combined altcoin market capitalization surging from $91.149 billion on July 29 to as high as $97.697 billion today.

bitcoin, bitcoin price

Up by 11% This Week | Image Credits: TradingView.com, Coinbase

Meanwhile, global markets felt the pressure of Trump’s announcement. The Asian equity markets posted more than 1.4 percent losses, while their European counterparts opened 1 percent lower on Friday morning. US Futures, at the time of this writing, were also erasing their Fed rate cut gains, indicating a weaker session for the Dow Jones Index, Nasdaq Composite Index, and S&P 500 Index this Friday.

The US Dollar Index also felt the heat of an escalating US-China trade war as it gave up its overnight gains to Trump’s tweets. It fell 0.14 percent to 98.23.

For Haven Sake

Analysts have been digging a possible correlation between the ongoing US-China trade dispute and bitcoin price. They believe the rising tensions between the two superpowers weaken their national currencies, especially the Chinese Yuan, which remains under a strict capital control imposed by the Chinese government.

Between May 5 – the day Trump announced that he would increase tariffs on Chinese imports – and June 26, the bitcoin price surged by more than 142 percent. The period also saw yuan tumbling to its six-month low after Beijing counterattacked Trump’s tariffs with its own.

The fundamentals are very same even today. Soon after Trump’s tweet yesterday, yuan took a beating and fell up to 0.83 percent against the dollar.

yuan, bitcoin

Chinese Yuan Slips against US Dollar following Trump’s Tariff Threat | Image Credits: TradingView.com, ICE

The correlation is not entirely accurate, believes Garrick Hileman, head of research at Blockchain.com. The London School of Economics researcher told SCMP in May that bitcoin price moves uniquely alongside yuan concerns.

“We can’t be 100 percent certain that bitcoin’s recent price increase is being driven by concerns over the trade tensions and declines in the RMB’s exchange rate as correlation does not necessarily equal causation,” Hileman said.

But Brian Kelly of CNBC believes the correlation cannot be a coincidence. He tweeted shortly after Trump’s tariff threat an image showing very correlated price movements of yuan and bitcoin.

“Offshore Yuan and bitcoin moving together after additional tariff announcement. [It] does not appear to be [a] coincidence,” he stated.

It is possible, if not entirely correct, that investors in China hedge into bitcoin as if its a haven asset. That could also be due to the cryptocurrency’s growing popularity as “digital gold.”

 

The post Bitcoin Gains as Trump Threatens $300B Tariffs on Chinese Goods appeared first on NewsBTC.


Source: newsbtc
Bitcoin Gains as Trump Threatens 0B Tariffs on Chinese Goods

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Quedex Gains Gibraltar License to Start Crypto Derivatives Platform

The exchange had to comply with 9 regulatory principles to receive the .
Source: financemagnates
Quedex Gains Gibraltar License to Start Crypto Derivatives Platform

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Rain Gains License to Operate Crypto Exchange in Bahrain

The exchange also closed a $2.5 million funding round.
Source: financemagnates
Rain Gains License to Operate Crypto Exchange in Bahrain

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Huobi Gains License in Thailand to Start Crypto Trading Platform

The exchange is planning to launch the platform in Q3 2019.
Source: financemagnates
Huobi Gains License in Thailand to Start Crypto Trading Platform

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Ripple (XRP) Gains After Bank of America Includes Ripple Ledger

Ripple

() has turned bullish as the number of banks leveraging its decentralized network for cross border payments continues to rise. Reports that Bank of America has filed a patent for a settlement system citing ledger is one of the catalysts fuelling XRP price action right now.

Ripple Price Catalysts

The patent describes a system that utilizes a distributed ledger technology to facilitate interbank communication. With the proposed system, BAC seeks to enable real-time settlements through a decentralized ledger.

The filing of the patent is of great importance as it comes at a …

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Ripple (XRP) Gains After Bank of America Includes Ripple Ledger

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Bitcoin Gains Another New Supporter In The Government: House GOP Leader Kevin McCarthy

The blockchain technology and the crypto market have plenty of supporters, no one can deny that. However, some people still believe that only some economists, young investors and tech-related people like the token, but the truth could not be more different. Kevin McCarthy, the House leader of the Republicans, has recently joined the crypto club. […]
Source: bitcoinexchangeguide
Bitcoin Gains Another New Supporter In The Government: House GOP Leader Kevin McCarthy

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Bitcoin YTD Gains Make Traditional Markets Look Stagnant; Will This Trend Continue?

and the aggregated crypto markets have been experiencing incredibly bullish buying pressure over the past several months, with BTC surging from year-to-date lows of below $4,000 to recently established highs around $13,800.

The traditional equities markets are currently hovering right around their all-time-highs, and they have been having a very positive 2019 in spite of some fears regarding global economic instability. Despite this, the Grayscale Bitcoin Trust (GBTC) is currently the best performing publicly traded index fund, and the large traditional index’s pale in comparison.

Bitcoin Surges Over 260% in 2019 While S&P 500 Climbs Over 25% 

At the time of writing, Bitcoin is trading up over 4% at its current price of $12,400, which is up significantly from its 24-hour lows of $11,800 that were set yesterday.

Meanwhile, the S&P 500 has also posted decent gains over the course of 2019, surging significantly from lows of $2,500 to recent highs of nearly $3,000. Although this surge is nothing from the perspective of the crypto markets, it is largely considered to be very positive in the traditional equities markets.

While moving away from the realm of the digital asset markets and looking solely at the stock market, the most popular exchange traded fund in the markets that allows investors to gain exposure to Bitcoin is the Grayscale Bitcoin Trust (GBTC), which is currently up over 230% year-to-date.

Bitcoin BTC

This price surge has allowed GBTC to be the best performing index fund in the traditional equities market so far this year, and its shockingly large gains may inspire some traditional investors to gain exposure to BTC through this fund.

Will BTC Continue to Outperform the Traditional Markets?

Although it would now require a significant drop for Bitcoin to underperform the traditional indexes, most prominent analysts do believe that BTC will continue to surge higher as the year continues on.

Galaxy, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that he believes Bitcoin first began its journey towards the six-figure price range when it broke above $10,000.

“The $BTC Bull Run barely even started. According to 2015 fractal, the road to #6digits was confirmed when we broke $10K. It will be a journey packed with FUD, bans, hacks and all sorts of manipulations. But nothing worth having comes easy, especially financial freedom,” he said.

Assuming that his assessment is correct, and Bitcoin does in fact surge towards $100k in the coming months and years, it would mark a 2,840% surge from its 2019 lows of $3,400.

This type of surge would allow GBTC to be the best performing index fund in the history of the stock market in a relatively short time frame and would signal that BTC has incurred significant institutional and mainstream adoption.

Featured image from Shutterstock.

The post Bitcoin YTD Gains Make Traditional Markets Look Stagnant; Will This Trend Continue? appeared first on NewsBTC.


Source: newsbtc
Bitcoin YTD Gains Make Traditional Markets Look Stagnant; Will This Trend Continue?

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