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Latest Crypto Market Volatility Pushes Bitcoin’s Price to a Tight Trading Range Tipping Point

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Even with the volatility of Bitcoin continuing to decrease, the flagship crypto-asset has been trading sideways around the $3,900 mark for more than a few weeks now. While this relative stability might be welcomed by some, there are those who believe that the digital asset will face negative price action sometime in the near future.

In this regard, a couple of analysts believe that if Bitcoin is not able to break past its key $4k resistance threshold, it might drop to around the mid-$2,000 region soon.

A Closer Look at the Matter

At press time, Bitcoin is trading for a price point of around $3,844. However, what has been alarming for a fair few crypto experts is the fact that the currency has been caught in this price region for more than 15 days.

Additionally, SFOX’s Danny Kim, recently spoke with Forbes about the premier alt-currency’s declining volatility rates. Kim stated that prior to mid-November 2018, BTC had not witnessed such low volatility since May 2017.

He then went on to add:

“Over the past months, we’ve generally observed tight range-bound trading with very short spikes in both volatility and price to both the upside and downside… While crypto-asset prices remain, as a whole, highly volatile and difficult to predict, the BTC/USD pair’s volatility is currently at its lowest point since mid-November 2018… Before that time, its volatility hadn’t been this low since mid-May 2017,”

At this point in the article, it is also worth adding that after an extended period of sideways trading during November last year, Bitcoin plummeted from $6,400 to an annual low of $3,200.

Also, in regards to BTC’s current support levels, Kim as well as many other experts are of the opinion that $3,800 is not a reliable support zone. They also believe that the currency’s key support levels currently lie around $3,500 and $3,000 respectively.

Bitcoin Plunge Seems Inevitable

As mentioned earlier, Bitcoin’s ongoing stability is quite deceptive since many crypto analysts believe that if the altcoin is not able to break past the $4k mark soon, it will most likely dop to around the upper-$2,000 region.

In regards to the subject, a crypto analyst by the name of SalsaTekila recently stated that BTC was bound to slide in the near future. However, in his opinion the “the mid-to-upper $2,000 range” is a great place for investors to once again start buying BTC.

Final Take

In closing out this piece, it is worth remembering that as and when the crypto marketbegins to witness an increasing level of volatility once again, traders and analysts will be able to gain better insights as to which direction the industry seems to be heading in.

Source.bitcoinexchangeguide

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Mainstream Giant AT&T To Allow Bill Payment In Crypto

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Colossal mainstream telecom provider AT&T announced it now accepts Bitcoin payments for bills, via BitPay.

AT&T Now Accepts Crypto

According to a May 23 statement on att.com, “AT&T* will now accept online bill payments through BitPay, a respected cryptocurrency payment processor. AT&T becomes the first major U.S. mobile carrier to provide a cryptocurrency payment option to customers.” BitPay will now appear as a payment choice when clients pay online or through myAT&T app usage, the statement noted.

AT&T Communications Finance Business Operations vice-president Kevin McDorman said in the statement:“We’re always looking for ways to improve and expand our services […] We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.”

In the fall of 2018, the crypto space also saw Ohio take a shine to Bitcoin, allowing residents to pay their taxes in the asset, via BitPay.

Conceived in 2011, the crypto payment operation BitPay Inc. is “the largest bitcoin payment processor in the world, serving industry-leading merchants on six continents,” according to BitPay’s website.

Adoption In The Works

Mainstream adoption for cryptocurrencies is at the doorstep of the industry, with big businesses utilizing blockchain, mainstream entities looking to trade crypto and new entities, such as AT&T, now allowing bitcoin as a payment method.

Source:cryptopotato

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Japan Scrutinizing Crypto Exchanges Ahead of G20 Summit

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Japan’s Financial Services Agency (FSA) is said to be scrutinizing cryptocurrency exchanges in the country to ensure anti-money laundering (AML) processes are in place.

A report from the Nikkei Asian Review on Wednesday, citing an unnamed FSA official, said that inspections are being carried out ahead of the G20 summit next month. The G20 – the international forum of which Japan holds the presidency for 2019 – is planning measures to crack down on money laundering using cryptocurrency and, hence, the country aims to ensure that it has its financial house in order, they said.

Adding to the pressure, global money-laundering watchdog, the Financial Action Task Force (FATF), will review Japan’s domestic money laundering laws this autumn – an investigation that will include cryptocurrency platforms.

Cryptocurrency exchanges are, therefore, being asked by the FSA to clearly explain what measures they are taking to prevent money laundering, such as verifying user IDs to prevent anonymous transactions.

Last month, cryptocurrency exchanges Huobi Japan and Fisco were reportedly investigated by the FSA to assess their customer protection and AML provisions.

The FSA official said in today’s report:

“We’ll continue with the on-site inspections, and we’ll make sure everything is sound.”

Japan is also trying to make improvements after receiving the FATF’s lowest rating for customer identification processes at financial institutions in 2008, the official added.

The FATF published a draft document earlier this year, proposing a number of measures that national governments should adopt to more effectively supervise cryptocurrency transactions, and therefore lower money laundering risks.

Japan has already been making moves to tighten up the crypto industry. The nation passed a law in April 2017 that brought cryptocurrency exchanges under AML/know-your-customer (KYC) rules and mandated that such platforms must be licensed. The law also notably recognizes bitcoin as a legal method of payment.

 

source:coindesk

 

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Finnovating to Host Startup Competition at Barcelona Trading Conference

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The global innovation consultancy is just one of the event’s local partners.

Finance Magnates and Ultimate Fintech are joining together to create the largest event dedicated to the crypto trading community, the Barcelona Trading Conference 2019 on July 1o1th to July 11th. Several regional partners, including Finnovating, an advisory group focused on promoting collaboration between startups, tech providers, and financial services experts will demonstrate why Barcelona is quickly transforming into one of Europe’s hottest spots for digital assets.

Finnovating Co-Founder Jésus Pérez Sánchez stressed how the Barcelona Trading Conference highlights “the progress in the Spanish crypto ecosystem, where we have worked in the first STO.”

He noted that companies like Finnovating can “analyze key tech sectors in Spain and Latin America, which helps big corporations adapting to new market requirements through collaborations.”

BTC 2019 expects to draw 200+ fintech professionals, 60+ exhibitors, and 70+ of the top crypto speakers for dozens of panels and workshops covering the latest developments and market trends. The sessions will be held on a single floor of the Barcelona CCIB, Southern Europe’s largest convention center.

Other local partners include the Generalitat de Catalunya, Lawyer, and VC Investments Advisor Vicente Ortiz Alonso, and Jesus Rodriguez, CTO at IntoTheBlock. Public blockchain platform NEO Global Development will also be hosting a Spanish language workshop for programmers.

BTC 2019 will feature a number of workshops offering insider perspectives on the evolving cryptocurrency marketplace, including key topics such as stablecoins, tokenized CFDs, and is expected to become the preeminent Crypto trade conference, with thousands of attendees and dozens of speakers.

Ultimate Fintech and Finance Magnates have already earned a reputation for running the financial services industry’s premier events, including the London Summit, the iFX EXPO International and the iFX EXPO Asia conferences.

The Barcelona Trading Conference takes place July 10-11th, 2019, and promises Crypto enthusiasts interested in regulation, technology, and asset management exceptional networking opportunities. Visit our website for more information and to register for tickets.

Source/ambcrypto

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