Bitcoin was facing minor resistance near $50,000 but if this psychological barrier is crossed, a major breakout could occur in select altcoins. Demand and supply metrics determine the price of an asset and data from Glassnode, an on-chain data firm, shows that Bitcoin’s (BTC) liquid supply has been decreasing since June 2020. This signals that traders owning Bitcoin are not selling their holdings.
Privacy coins such as Monero, Dash and Zcash are beginning to show signs of life. The strength of the cryptocurrency market appears to be spreading to privacy-focused coins. The calm price action of Bitcoin (BTC) often sets up an intense period for altcoins to rally, where several groups of coins can start becoming bullish.
The Monero community has raised $150,000 as part of a proposal to add XMR as a payment option on the Tesla website. The Monero community has posted a proposal to add XMR as a payment option on the Tesla website.
A Spanish tax company says it intends to accentuate its scrutiny of cryptocurrencies in 2020. In an professional communiqué launched via the Agencia Estatal de Administración Tributaria (AEAT), the country’s best tax authority, known as tracking cryptocurrencies “one in every of this 12 months’s maximum hard demanding situations.”
Bitcoin (BTC) utilization is emerging on darknet markets, the place it’s ceaselessly used to shop for narcotics and finance different unlawful actions – despite the fact that the darknet nonetheless accounts for not up to 1% of all BTC transactions. Consistent with knowledge from blockchain analytics supplier Chainalysis, over USD 600 million price of bitcoin moved on darknet markets in This autumn of 2019.
The Assistant Commissioner of the City of London Police said the partnership with Komainu would help in “denying criminality the proceeds of crime." Digital asset custodian Komainu is working with authorities in the United Kingdom to store crypto confiscated as part of criminal investigations.
UK financial watchdog and ECB president call for more stringent rules. Regulators are sharpening their focus on bitcoin and its use in the international financial system after the value of the digital currency raced higher in a volatile rally that fed concerns over its lack of robust oversight by financial watchdogs.