Crypto Update: Cryptocurrencies Rise Again as G20 Calls for RegulationCryptocurrencies and Bitcoin have risen in value the past two days as the main catalyst behind it is the call of world leaders to regulate cryptocurrencies by July 2018.
The G20 meetings in Argentina have finished and did not produce a unified mandate regarding cryptocurrencies which may have helped nervous sentiment in the market calm. Twitter has announced a ban of crypto adverts which will start in two weeks.
Cryptocurrencies Escape Sharp Claws of Governments at G20
While governments participating in the G20 meetings certainly spoke about the need to create recommendations to monitor criminal activity in cryptocurrencies, the lack of a call for unified action helped nervous speculators rest easier. Bank of England Governor Mark Carney also was quoted as saying cryptocurrencies do not pose a serious threat to the broad financial markets. However, Carney’s comments may prove to be a backhanded compliment, because while he has said Blockchain offers an interesting technology for transactions, he has been critical of cryptocurrency values in the past.
Bitcoin Rallies from Lows with Solid Climb, More Turbulence Will Develop
Bitcoin has climbed from its lows made early this week and is trading close to 9000.00 U.S Dollars per coin. The G20 meetings appear to have helped Bitcoin short term. Important support looks to be around 7500.00, while key resistance resides near 9800.00 Dollars for Bitcoin. Volatility is a constant companion for cryptocurrencies, and Bitcoin’s ability to gain momentum the past two days is an indicator more turbulence will develop near term.
Twitter Joins Ban of Cryptocurrency Adverts on Social Media
Twitter is reportedly set to follow in the footsteps of Facebook and Google and ban cryptocurrency and Initial Coin Offering advertisements. Social media’s impact on the popularity of cryptocurrencies and its related businesses have helped create a dynamic environment for digital assets. The announcement from Twitter will reportedly take effect in two weeks.
Blockchain Conference in Kiev on Friday
A Blockchain conference will take place in Kiev on Friday, and participants are been promised a good educational and networking event.
- March 23rd, Ukraine, International Blockchain UA Conference in Kiev
Yaron Mazor is a senior analyst at SuperTraderTV.
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