18/07/19 07:40 UTC-4

BTC is under pressure from Libra, the course of the coin depends on the hearing of the congress

BTC course depends on Libra
BTC course depends on Libra

Due to the situation surrounding the Libra cryptocurrency and the recent Congress hearing  which was held on July 16th and 17th, Bitcoin was under pressure dropping below $10,000.


Bitcoin under pressure from Libra

The Libra investigation may lead to further loss of Bitcoins, since past data shows that BTC is influenced by congressional hearings related to cryptocurrencies.

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Last year, the BTC fell from $6,820 to $6,070 five days before July 12, and then rose to $7,400 on July 18, when the House Financial Services Committee convened a hearing about how cryptography can become a new currency choice.

In addition to concerns over Libra’s verification, Bitcoin’s downfall also occurs a few days after President Trump criticized cryptocurrencies.

"I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity" – Trump wrote in his tweet

One of the biggest challenges facing cryptocurrency space is that, despite the prominent role of Bitcoins, no digital currency can be considered "widely accepted".

The Bitcoin rate is directly dependent on the Libra hearing. Recall, on July 13, on the eve of the hearing in the Congress of representatives of the Facebook company, a new bill appeared that could presumably prohibit the release of the Libra payment system.

Editor: Yulia Krasnaya

See also: "Libra Project Manager appears before the Senate Banking Committee"

#BTC #cryptocurrency #Bitcoin #Libra #congress



16/08/19 07:00 UTC-4

A Wall Street analyst is confident in the growth of Bitcoin

Yesterday, August 15, a prominent Wall Street analyst and co-founder of Fundstrat Global Advisors financial agency, Tom Lee, said he was confident in the imminent increase in the value of digital gold. According to an interview at Fox Business, by the end of 2019, cryptocurrency could hit a new historic high.

13/08/19 07:49 UTC-4

Ethereum cryptocurrency will be at $1000: survey results

A few days ago, on August 10, Nick Patel, a well-known trader and author of the bestseller about altcoins, conducted a social poll on his Twitter, which concerned the value of the second cryptocurrency by capitalization level – Ethereum. The results showed that more than half of the respondents are sure that the coin rate will be above a thousand US dollars.

31/07/19 05:10 UTC-4

The US Senate held a hearing on regulatory cryptocurrency issues

Following the previous hearings in mid-July, on July 30, the US Senate Banking Committee on the regulatory framework for cryptocurrencies and blockchains held a hearing entitled "Study of the regulatory framework for digital currencies and blockchain."

Fiat money, funds