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Bad news about cryptocurrencies this week

July 6, 2020

Maybe it’s time to talk about Bitcoin’s boring price. The price of cryptocurrency has only moved half a percentage point in the past week and remains close to $ 9,200.. Bitcoin holders, however, don’t expect the coin to remain a boring store of value forever. A Bitcoin IRA survey found that the 42 percent of Crypto Custodian’s customers expect the price to reach $ 15,000 by the end of the year. But even that could not increase sales. 57% said they would stay long term.

However, these optimists could be wrong. SteveCrypt0, a popular trader, has suggested that Bitcoin could drop to $ 6,000.… although it would still be bullish.

Of course, SteveCrypt0 could be wrong and you wouldn’t be the only one to make a mistake. A survey found that 55% of respondents made mistakes sending cryptocurrencyand 18% lost money this way. An Israeli blockchain startup has a solution. You have created a kind of “undo” button for transfers in crypto. (It is a confirmation code).

Bad news about cryptocurrencies this week
Bad news about cryptocurrencies this week

An “Undo” button could currently be useful in Russia. A court in this country has ruled that thieves who kidnap someone and force him to send 99.7 BTC do not have to return the bitcoins. According to the judge, digital currency is not property.

However, it is not just Russia that has strange rules. US senators are trying to pass a law that allows law enforcement Access to encrypted data. To do this, manufacturers must install a back door with which they can decrypt the information.

Other countries are doing better. In China, The Beijing city government has launched a 20-point plan to make the Chinese capital a global center for blockchain technologies. In India, a Supreme Court decision to overturn laws that prevent banks from serving cryptocurrency traders and businesses This has led to an increase in the activities of developers of cryptocurrency applications in the country.

But not all is good news. As a pioneer in the development of blockchain technology Estonia is struggling with the effects of the new “Know Your Customer” laws of the European Union. Businesses flee.

Fortunately soon lFlights could be easier to book. Tour operators are conducting more blockchain-based experiments and pilot projects to make travel cheaper and more efficient. These steps come as analysis tools from the “Big Four”. Audit firms promise to make crypto easier for institutional investors.

And finally, if you ever want to see Mati Greenspan in red lycra and white underwear cryptocurrency forecast, this is your chance. Greenspan is Forecaster on the set of Bad Crypto Podcasts “Blockchain Heroes” trading cards. Who said Bitcoin is boring?

Check the audio version here:

Joel CommHe is an internet pioneer, best-selling author of the New York Times, futuristic speaker and co-moderator of the Bad Crypto podcast. It’s a fancy way of saying that spells words, says things, and likes to play with cryptos.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.

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