After several days of relative inactivity, BTC dropped to a low of $8,800 early this morning and has now remained steady at around $9,000. While key support levels haven't been broken yet, it is a worrying sign for the bulls to have double topped after failing to break the psychological resistance at 10,000. A continued breakdown below 8,600 invalidates bullish scenarios, while a strong bounce back and eventual retest of 10k should set things up for a strong run up.
Global market cap is at $253B, while Bitcoin's market cap is at $167B.
Happy Bitcoin Pizza Day! On this day 10 years ago, Lazlo Haynecz, the first GPU Bitcoin miner, bought 2 pizzas for 10,000 BTC. Those pizzas are now worth $90,000,000, so they better have been good tasting pizzas!
Albania's parliament has passed a bill into law that regulates cryptocurrencies, in what is seen as Europe's most comprehensive crypto law yet. The law, introduced by Albania's Minister of Finance and Economy Anila Denaj, looks to regulate the conditions for licensing all crypto activities in the country. The legal framework serves to make "the best use of the benefits offered by technology," but addresses several risk factors - fraudulent schemes, money laundering, terrorism financing, and market manipulation.
"The draft law aims to regulate the conditions for licensing, exercising the activity of the operators and stock exchanges and supervising them, as well as preventing abusive practices in the market," according to Denaj.
Crypto exchange Bittrex is caught in the middle of the disagreement between those who are pro and against the Tron Foundation's takeover of Steemit. While the anti-Tron faction forked the network to create HIVE - an identical copy of Steem and confiscated tokens linked to Tron founder Justin Sun, the pro-Tron side responded by forking Steem to seize the tokens belonging to 64 of blockchain validators and stakeholders involved in creating the HIVE group.
The exchange is now puzzled with the decision to return the tokens that were sent to a mysterious wallet known as "community321," which were then almost immediately sent to Bittrex's platform with a note attached to the transaction saying "stolen by Steem witnesses," and to "please return to their original owners prior to the fork." As a result, Bittrex will require proof of ownership from the victim as part of their procedure in returning the hacked tokens; this would mean that whoever owns the community321 wallet may have to declare themselves, at least to Bittrex.
The Central Bank of Myanmar announced that it does not recognize cryptocurrencies as official currency and anyone caught trading digital assets can be imprisoned or fined. However, local crypto community refutes the announcement saying that the Central Bank of Myanmar doesn't have mechanisms or legal framework in place to enforce such actions.
In a statement, U Nyein Chan Soe Win, CEO of platform Get Myanmar said: "The CBM has not prohibited the use of cryptocurrencies under the law. It has just issued an announcement. As there is no official law, it can't be said that trading in digital currencies is illegal."
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