Crypto Update: Cryptocurrencies Rebound Ahead of G20, AML and Transparency in Focus

G20 meetings will get underway in Argentina today and one of the big talking points will be AML and transparency for cryptocurrency transactions.

Government Concerns Regarding Cryptos a Focus at G20

Cryptocurrencies will take center stage at the G20 meetings which will get underway today in Buenos Aires. Digital assets remain under a sea of pressure as they seemingly take hits from a variety of directions. Governments will be talking about concerns they have regarding money laundering and transparency of payments at the G20 summit. And while this discussion is certain to get loud, there has also been a barrage of anti-crypto rhetoric recently from the International Monetary Fund and Bank of International Settlements.

Ethereum Unable to Escape Slings and Arrows, Key Price Ratio Tested

While many people talk about the crater that has taken hold of Bitcoin, Ethereum has not been able to escape a siege mentality either which has taken hold of sentiment in the cryptocurrencies. Ether remains under attack and has lost value in a rather steady trend since late February. Ethereum is near 540.00 U.S Dollars per coin and is testing price ratios not seen since early December of 2017. If Ether should continue to wither, a test of support may occur around the 463.00 mark. And traders who are looking for upside potential short-term may find resistance near 600.00 U.S Dollars.

Increased Scrutiny May Help Cryptocurrencies in Time

Cryptocurrencies have taken a beating since mid-January and most of the major digital assets have not been able to sustain buying trends upwards. Speculative appetite remains flustered within the sector as a barrage of hacks, regulatory talk from governments and scrutiny of Initial Coin Offerings has taken hold. The question for speculators is whether or not this spate of bad news will eventually be a good thing for the cryptocurrency industry as transparency increases for digital assets.

AML Meeting in Buenos Aires to Make Cryptos a Talking Point Today

A G20 meeting focusing on Cryptocurrencies and Anti Money Laundering will take place later today and could impact the marketplace.

• March 19th, Argentina, G20 Meeting regarding Cryptocurrencies

Yaron Mazor is a senior analyst at SuperTraderTV.

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