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Since its inception, Bitcoin has exhibited a highly volatile nature. However, during the past few days, Bitcoin’s price volatility has fallen to the lowest level of 2018. The U.S. Securities and Exchange Commission (SEC) will most likely view Bitcoin’s calmer price oscillations favorably.
Low Volatility Signals That Investors Are Now Holding to Bitcoin
Bitcoin’s (BTC) 00 volatility has been decreasing recently. According to data provided by Highcharts, the Bitcoin volatility index for the latest 30-day estimate is 1.73 percent, and for the most recent 60-day estimate is 2.58 percent.
At press time, the father of cryptocurrency is back up to $ 6,700. This is about $ 100 higher than where it was yesterday, and about $ 300 higher than where it’s stood all week.
Bitcoin has allegedly been on the brink of recovery. Following the news that the Securities and Exchange Commission (SEC) had rejected nine separate bitcoin ETF proposals, many thought the currency would react negatively to the news and tank like it usually does. Thankfully, bitcoin was largely unresponsive to the news, and remained in the $ 6,400 range throughout the week, giving many people hope that the market was beginning to mature.
Ethereum has just announced its Ethereum Community Fund (ECF) grant program, an initiative launched by a collection of major players in the Ethereum world that is designed to accelerate the development of blockchain infrastructure apps and services. The stated aim of the ECF is to bring about “an environment where teams and ideas can thrive, grow, and collaborate to become essential and functioning pieces of the broader Ethereum ecosystem.”
All of this raises the question of what exactly we mean when we talk about “blockchain ecosystems” and how they are built. Well, here’s an analogy for you: blockchains are like roads.
The crypto-sphere is full of hearsay and rumor. If nothing else it keeps hopes high in times of adversity, such as right now. Altcoins can go up on a shill or a pump from a whale, and back down on the spread of FUD across social media. It is unlike any other market and is driven largely on impulse at times. Because it is still an embryonic industry, connections can be drawn between large established companies, cryptocurrencies, and potential blockchain adoption.
After much “will they or won’t they”, the South Korean government has finally implemented cryptocurrency trading regulations. What will that mean for the crypto market? Let’s find out.
The big news in the cryptocurrency space today is that the long-awaited South Korean regulations have come into effect. This is a topic that made headlines earlier this month when rumors that the South Korean government would implement an outright ban on cryptocurrency hit the press. These rumors subsequently turned out to be false, but not before kicking off a strongly bearish trend in the price of bitcoin and much of the wider cryptocurrency space.
Blockchains and cryptocurrencies are here to stay, and banks and governments are concerned. With the momentum that the budding markets have built in recent months, digital assets like Bitcoin, Ethereum, Litecoin, and Ripple have become household names. However, crypto regulation does not necessarily have to mean prevention if it can be approached in the right way.
In recent weeks, news has emerged of steps concerning crypto regulation taking place across the world, most significantly in Asia where the lion’s share of crypto trading occurs. Fake news and fearmongering of a complete crackdown in South Korea washed across the internet last week, causing a mass selloff and slumping markets.
Bitcoin.com owner and pro-Bitcoin Cash figure Roger Ver has highlighted interview tips as apparent proof that Bitcoin Cash is “working well.”
Currency-Focused Ver Continues Bitcoin Crusade
Linking to his appearance on a November episode of online political talk show The Rubin Report, Ver said that Bitcoin Cash wallet tips outnumbering Bitcoin tips 76-1 afterwards showed Bitcoin itself was “committing suicide.”
After @RubinReport had me on, they received:
76 Tips via Bitcoin Cash
1 Tip via Bitcoin Core
Bitcoin Cash is working well.
Bitcoin Core is committing suicide.https://t.co/a0C2BFFfuw
— Roger Ver (@rogerkver) December 30, 2017
**On today’s episode of The Cryptoverse:**
We’ll check in on the progress towards Segwit lock in, and if you are still sat on the sidelines when it comes to cryptocurrency, the European Union explores a plan to freeze customers accounts at failing banks.
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