Are Cryptocurrency Prices Rebounding? This is What You Need to Know.
Introduction
Cryptocurrency has been in the news lately, and not in a positive way. The price of bitcoin fell below $4,000 for the first time in 13 months on Sunday (November 25), and some industry insiders are wondering if there’s a connection between the drop in price and recent regulatory action taken by authorities. According to Coinbase, BTC prices fell from a high of $4,100 on November 20 to below $3,800 as of 5 p.m. Eastern time on Sunday, according to Coinbase. It’s an approximately 7 percent week-to-week decline, with a two-month low for Bitcoin’s price since it plummeted below $6,200 in September 2018 when news broke that the Japanese Financial Services Agency (FSA) had fined Binance $250 million due to “violations related to customer protection issues related to cryptocurrency exchanges.”
Bitcoin prices fell below the $4,000 mark for the first time in 13 months on Sunday (November 25), and some industry insiders are wondering if there’s a connection between the drop in price and recent regulatory action taken by authorities.
Bitcoin prices fell below the $4,000 mark for the first time in 13 months on Sunday (November 25), and some industry insiders are wondering if there’s a connection between the drop in price and recent regulatory action taken by authorities.
The cryptocurrency exchange Binance was sanctioned by Japan’s financial regulator last week after it failed to register with Japan’s Financial Services Agency (FSA) as required under local law. The company had been looking into moving its operations overseas but decided not to do so after realising that doing so would incur more costs than just paying taxes on profits earned abroad—and then losing access to SEPA transfers, which allow users across Europe to send money directly between banks without having to go through an intermediary like Western Union or Moneygram.
According to Coinbase, BTC prices fell from a high of $4,100 on November 20 to below $3,800 as of 5 p.m. Eastern time on Sunday, according to Coinbase. It’s a roughly 7% week-to-week drop, with BTC’s price at a two-month low since it fell below $6,200 in September.
According to Coinbase, BTC prices fell from a high of $4,100 on November 20 to below $3,800 as of 5 p.m. Eastern time on Sunday, according to Coinbase. It’s a roughly 7% week-to-week drop, with BTC’s price at a two-month low since it fell below $6,200 in September.
What’s next? The current downtrend could continue through mid-December before rebounding again in January or February 2019—but if you’re looking for an early indication of how far this market will go or if your investment should be sold before then (such as when crypto is down 30%, 40%, or 50%), there are several popular indicators that can help you determine whether it’s time to sell now or hold onto what you have until further notice:
Despite the dip in the price of bitcoin, one analyst said there isn’t a connection between the cryptocurrency’s fall and recent regulatory action taken by authorities.
Despite the dip in the price of bitcoin, one analyst said there isn’t a connection between the cryptocurrency’s fall and recent regulatory action taken by authorities.
The former CEO of Binance, Zhao Changpeng, said: “I think it’s just a small correction. I don’t think it’s related to any kind of ban or anything like that. ”
Zhao went on to add that he believes cryptocurrencies will become more mainstream in the future and predicted that they will be accepted by more merchants as well as be available for Visa-type purchases within five years.
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Binance was sanctioned by Japan’s financial regulator last week since it didn’t have a licence to operate in the country and it launched in June 2017 without asking for permission from Japanese regulators. Japan’s FSA issued an administrative penalty order against Binance and another crypto exchange called FSHO, which was ordered to suspend its operations until August 2019.
If you’re a cryptocurrency trader, you might have heard about the Japanese FSA’s decision to sanction Binance and another crypto exchange called FSHO.
Japan’s FSA issued an administrative penalty order against Binance and another crypto exchange called FSHO, which was ordered to suspend its operations until August 2019. The move came after both exchanges failed to obtain licenses from the Financial Services Agency of Japan (FSA), which is responsible for overseeing financial transactions in Japan.
Binance had applied for a licence last year but was rejected because it didn’t meet some requirements set by regulators at that time. The company has since appealed this decision to multiple courts in Europe and India, but has lost each time due to a lack of jurisdiction over crypto businesses operating outside their home country — something that could cause problems if there are any further legal issues when attempting to access foreign accounts or assets held overseas!
CZ didn’t directly address if he thought bitcoin’s price would rise again sometime soon, but he said he “hopes so.”
The CEO didn’t directly address if he thought bitcoin’s price would rise again sometime soon, but he said he “hopes so.”
Since adoption is still in its infancy, CZ stated in an interview, “Now is a terrific moment to acquire bitcoin because it has been increasing for years.” with CNBC on Thursday. “So I think people are looking at this asset class as an opportunity to make money on their investments.”
What risks exist in putting money into cryptocurrencies?
You should also be aware of the risks associated with cryptocurrencies. While these currencies have many advantages over traditional currencies, there are still several disadvantages to them too.
The first risk is that you could lose your money if you put it into an investment that doesn’t work out and loses value as a result. Another risk is theft: if someone into your account and steals your digital currency, they could sell it on another exchange or use it themselves without paying taxes or fees like they would in a normal transaction between two people on the internet today (if this happens today, don’t worry! Your personal information remains secure. There’s also regulatory risk involved with using cryptocurrency because no central authority regulates its use; instead, each coin must be monitored by its community through consensus building among all users who participate in peer-to-peer transactions online via blockchain technology (a distributed database where records are stored across multiple servers rather than only one location).
Finally, there’s taxation—how much capital gains taxes will apply when selling crypto holdings? Will mining operations pay payroll tax? These questions remain unanswered at the moment due to a lack of regulations worldwide, but this may change soon given recent efforts by governments around the world to accept cryptocurrency exchanges and trading platforms through legislation surrounding taxation policies instead.
Conclusion
We hope you find this guide helpful in your quest to invest in the cryptocurrency world!
