More Turmoil for Bitcoin As Merkel and Macron Propose Regulation

merkel and macron bitcoin regulation

In another moment of noted reaction in the world of the crypto-craze, the advocates of cryptocurrency have expressed fear upon the announcement of possible crypto regulation by Angela Merkel, German Chancellor and her counterpart, Emmanuel Macron, President of France.

The pair met January 19 2018, to discuss what many governments are coming to view as an unavoidably thorny issue. The decentralized nature of Bitcoin and other cryptocurrencies, especially when coupled with the inherent volatility of market sentiment and potentially delusional public enthusiasm for crypto, has finally made it to the agenda of world leaders.

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Wall Street Strategist Tom Lee “Aggressive Buyer” during Bitcoin Major Low

bitcoin trading

On January 9, 2018, Tom Lee spoke optimistically of Bitcoin in an interview with CNBC, expressing his opinion that the digital currency could “easily double” in value over the course of the year.

At the time of the interview, Bitcoin was down 25 percent since its highest point near $19,800 in December 2017. It has since dropped a further 25 percent, reaching a low under $10,000. The price of Bitcoin has since recovered reasonably and is trading at $11,680 at the time of writing.

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South Korea’s Government Switches To A Softer Stand On Cryptocurrency Ban

south korea crypto regulation

If you’re a crypto investor currently residing in South Korea, the past few days must have been quite a turmoil. Especially after the senior minister in the federal government went on record saying that an outright ban approach on cryptocurrency trading was still very much a “live option.”

Expectedly, the minister’s comment created panic among a sizeable chunk of the investor community who then went on selling off their crypto holdings in anticipation of an imminent crackdown. However, now it turns it out that the panic was probably more of an overreaction as the government has since virtually ruled out an outright ban in the immediate future.

The South Korean Office for Government Policy Coordination issued a statement on Monday hinting that the crackdown on crypto assets won’t necessarily come imminently.

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What Will Be the Impact of Putin’s Proposed Multinational Cryptocurrency?

russian ruble cryptocurrency

Vladimir Putin has shaken up the status quo with a unique and undoubtedly brilliant take on things, in this case, the cryptocurrency market.

The president of the Russian Federation has proposed nothing less than a multinational cryptocurrency, with the express purpose of forging a connection between the world’s emerging economies.

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2017 in Bitcoin’s Terms: A Year Like No Other

bitcoin 2017

As far as Bitcoin is concerned, 2017 was a year for the dreamers, the believers and the overachievers. 

A combination of unbounded optimism with sheer dumb luck saw the first Bitcoin billionaires, a title proudly held by none other than the Winklevoss brothers. Bitcoin outranked entire countries in terms of energy consumption and market cap against GDP, and somewhere in a Newport landfill site lies an infamous $100 million hard drive, containing 7,500 discarded Bitcoins. 

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