Bitcoin Trading Remains in Consolidated Range

Kraken Bitcoin Exchange has relaunched after a shutdown last week for a software upgrade.

Government Whispers Curbing Euphoria, SEC, and ICO Concerns

News continues to circulate regarding efforts by the South Korean government to ban cryptocurrency exchanges, but no final decisions have yet been formally announced. And whispers have grown the Security Exchange Commission in the U.S is taking a harder look at cryptocurrencies – and in particular Initial Coin Offerings – which they view suspiciously. Government whispers against cryptocurrency have possibly curbed some of the trading euphorias which reached an apex in December.

Bitcoin Gripped in a Consolidated Battle, Regulation Concerns Toll

Bitcoin has remained in a consolidated fight the past week. Its value remains within the 13,400 to 13,600 U.S Dollar range in this morning. Since the advent of Futures Trading in Chicago, Bitcoin has achieved record heights in mid-December with values that approached the 20,000 juncture – only to be pushed downward as sentiment shifts in the meantime regarding the prospects of greater regulation taking a toll.

Kraken Exchange Up Again and in Business

One of the more high profile Bitcoin exchanges known as Kraken, which is based in San Francisco closed last Wednesday for a software upgrade and re-opened for business again on Saturday. However, while it was closed nervous traders bombarded social media sites with concerns that Kraken may have suffered a catastrophic business end. Kraken is viewed as a respected exchange and its re-launch this weekend eased fears of another spectacular exchange implosion.

Cryptocurrency and ICO Gathering in Miami

The U.S will see a three-day event for Bitcoin, Blockchain and Initial Coin Offerings held in Miami starting on Wednesday and lasting until Friday.

• 17-19, U.S, North American Bitcoin Conference in Miami

Yaron Mazor is a senior analyst at SuperTraderTV.

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