Let's Talk: Bitcoin (BTC). Litecoin (LTC). Ripple (XRP). Russia. EU. IMF.
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Transcript:
Hello guys. I hope everyone had a good weekend. I am going to jump into the news real quickly by taken a look at current headlines.
Bitcoin just continues to aim higher, and I want to say I am not a financial advisor. Please talk to a financial advisor when investing in crypto currencies. Okay after getting that out of the way, I just want to say that I expect to see this market go higher. Why you may ask? My reason is that there is positive news everywhere you go after Bitcoin hit somewhere at its low bottom of $6k. The bears in the market seem to have gone away, but this is also not the time to get complacent because anything can happen in this crazy market. So let's start to look at the overall cryptocurrency market. Let's start with Bitcoin. This crypto is going up after bottoming at 6k. Some people in the market are estimating about $50-100k Bitcoin by the end of the year. I am in the camp that thinks we could reach $100k but that is my personal opinion. Please do your own homework and research.
Ethereum is currently hovering around $900.00. Even with the bloodbath that surrounded Bitcoin just a week ago, Ethereum stayed pretty stable.
Other cryptos that are interesting include Ripple. Yes Ripple. Ripple experienced a very spectacular pump and dump falling more than 70% of its value at the high. If any of you guys bought at that price, I am sorry for your lose. I personally think that Ripple is going to come back bigger and stronger this year especially if it gets added into Coinbase. And keep in mind that last year Ripple was the most boring crypto, but soon started to peak later at the end of the year. So if you held at that time and still now, you are either out of your mind or a very patient individual or you know something that other people do not know about. I tend to stay in touch with Ripple by just following what they are doing in the news. Some people in the crypto currency community might call their token XRP a joke of a token, but their platform is supposedly state of the art and taking a liking from the banking community.
As for Litecoin, it is another boring crypto as well but with huge potential. The founder Charlie Lee has some interesting things going on with Monero, the Lightening Network, and some interesting partnerships that will take place this year. I definitely and won't be surprised to see the price of Litecoin move higher as we move through the rest of the year.
As for other news, I could not find real interesting news going on in the South Hemisphere, so I will just stick with what I know. Let me know start with Russia. The Russian government has come up with policies to help regulate their own start up ICOs and blockchain companies. This will include giving companies a 5 year license to basically come up with something interesting.
Russia’s Ministry of Communications and Mass Media (Minkomsvyaz) has published a document establishing the licensing rules for ICO projects, Forklog news outlet reported Monday, Feb. 12.
Some of the other key requirements presented to digital token issuers require nominal capital of about 100 mln rubles - approximately equal to $1.7 mln - and a license for the development, production, and issuance of tokens. Additionally, token issuers are obligated to possess a licensed bank account. I think this is really good for Russia, because it will at least filter out people trying to scam or trying to get a free lunch basically.
As for as other places in the world, you have the EU giving stern warning about the volatility of investing in the cryptocurrency market. And this is the second time that they have given this warning. And even with this warning, no one in the market was really surprised or from what I can see even care anymore.
As for other centralized government agencies, Chief Christine Lagarde of the IMF says International Crypto Regulation Is ‘Inevitable’ And Necessary. Personally and me talking, I think that is pretty obvious as well given how cryptos is global. Trading is pretty much decentralized. You can buy and sell crypto assets with people across different continents. Her stance is one of really making sure money laundering, KYC/AML policies are followed and people do not get hurt. And I think at the end and this is just my opinion is that governments want a piece of that pie in the form of tax money. Lagarde is quoted by saying from Cointelegraph that "It's clearly a domain where we need international regulation and proper supervision.” So to you kids out there, big daddy will be involved even if you don't like it or not. But it should help keep the bad kids off the playground.
Alright guys that is it for today. Thank you for listening to Bitcoin Flash - The Quick News Bits channel of everything related to the other parts of the world.
Nick is a content creator for Sobuka with a background in programming, information technology, finance and digital forensics. He shares interest in cryptocurrencies by reporting on International Affairs. You can find myself, B, and Laura here from time to time.
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The information on this blog is not financial advice. Before you invest in cryptocurrencies, please speak to a financial advisor.
