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2021-07-10 19:10:07 NEWS ZAP

Paraguayan lawmakers to present Bitcoin bill on July 14


El Salvador’s decision to accept Bitcoin as legal tender in June appears to be influencing lawmakers across the region to begin exploring their own cryptocurrency strategy. Paraguay is next in line to introduce new crypto-focused legislation.

Paraguayan Congressman Carlitos Rejala and Senator Fernando Silva Facetti are planning to introduce a Bitcoin (BTC) bill to Congress on Wednesday, July 14, underscoring the lawmakers’ urgency in formulating a coherent digital asset strategy for their country.

Based on Rejala’s previous statements, the forthcoming bill will introduce measures to make Paraguay a leading center for foreign cryptocurrency investors, businesses and perhaps even Bitcoin miners. Potentially, this will include provisions to accept BTC as legal tender.


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2021-07-10 16:54:06 NEWS ZAP

TikTok Is Banning Influencers From Promoting Cryptocurrencies


While the policy change does have some exemptions, the newly prohibited bucket of content is “Financial Services and Products”. This category includes, but certainly isn’t limited to, topics including crypto, loans and credit cards, trading platforms, forex trading, commemorative coins, investment services, and more.

However, TikTok’s advertising policy remains the same, which currently allows financial services companies to advertise to people over the age of 18. Despite this, ads for cryptos and digital assets specifically are already prohibited on the platform.

Despite any real means of regulation, TikTok has become a rising tool for financial information for young consumers. The financial corner of the platform, dubbed ‘FinTok’ or ‘StockTok’, is a massive blend of speculation, over-exaggeration, and actual financial insights or perspectives. Open / Comment

2021-07-09 20:00:07 NEWS ZAP

Pandemic has accelerated the rollout of CBDCs by 5 years, says blockchain firm


Research from European blockchain company Guardtime suggests that the current pandemic may have accelerated the launch of a major central bank digital currency by up to five years.

“There is an increasing sense of a ‘race to the moon’ regarding central banks launching their own digital currencies, because this could radically enhance their country’s and currency’s positions on the global economic stage,” said Guardtime’s head of strategy Luukas Ilves. “Not only has Coronavirus accelerated the digitisation of society, it has also further transformed how we use money.”

"The development of CBDCs has been accelerated by up to five years. There is also no doubt in our mind that a major central bank will soon launch a digital currency and we expect this to happen within the next three years."


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2021-07-09 11:16:54 NEWS ZAP

UK advertising watchdog flags crypto ads ‘red alert’ priority


The Advertising Standards Authority (ASA), the U.K.’s independent advertising regulator, plans to launch a major effort this month to hunt and shut down misleading crypto adverts, the Financial Times reported Friday.

“We see this as an absolutely crucial and priority area for us. Where we do find problems, we will crack down hard and fast.” Says Miles Lockwood, ASA’s director of complaints.

According to the report, the ASA has renewed its efforts to supervise crypto ads because most crypto investments fall outside the scope of the U.K.’s strict rules for promoting traditional financial products. This year, the authority has been paying much attention to ads in the crypto industry, taking down some adverts by crypto exchanges like Luno and Coinfloor.


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2021-07-08 16:35:02 NEWS ZAP

Bitcoin Poised to Resume Moving to $100,000 in Second Half 2021: Bloomberg’s Mike McGlone


Chief commodity strategist of Bloomberg, Mike McGlone, has taken to Twitter to share his conclusions as to when the Bitcoin bull market is likely to come back and the world’s flagship cryptocurrency to resume its movement towards $100,000.

The economist believes that in the second half of this year, Bitcoin will emerge with a bull market and will resume moving towards the $100,000 price level.

He also pointed out that the main advantages of Bitcoin that are likely to ensure its further growth are advancing technology and deflation that is programmed in BTC.


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2021-07-08 12:24:25 MARKET UPDATE

Bitcoin Price Dumped $2K as Crypto Market Cap Loses $100B


After unsuccessfully trying to break above $35,000, bitcoin reversed its trajectory once more and dumped by over $2,000 in hours. Most alternative coins are also well in red, with the total market cap losing $100 billion since yesterday’s high.

Just a few days ago, during the weekend, the primary cryptocurrency took a swing at $36,000, but it failed and retraced to around $33,000. It went up once more in the following days to approximately $35,000, but more negative information coming from China brought it down by a few thousand dollars again.

The situation with the alternative coins is similar to a large extent. Ethereum was among the best performers lately, especially after confirmation that the London hard fork will occur in early August. The second-largest crypto pumped to a 3-week high at well over $2,300.

Binance Coin has retraced by 5% and is down to $320. Cardano (-4%), Ripple (-5.5%), Polkadot (-5.5%) Bitcoin Cash (-5.5%), and Litecoin (-5.5%) have all gone down by a similar percentage.

Interestingly, Flow (33%), Stacks (19%), and BakeryToken (11%) have charted impressive gains in this bloody day. Most other lower- and mid-cap altcoins are deep in red as well.

KuCoin Token, which was riding high for several consecutive days, is down by 21% since yesterday. SushiSwap (-13%), Compound (-12%), Synthetix (-12%), Avalanche (-11%), Telcoin (-10%), THORChain (-10%), Horizen (-10%), and PancakeSwap (-10%) complete the double digit price dump club. Ultimately, the cumulative market capitalization saw $100 billion evaporated from yesterday’s high at one point.


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2021-07-07 23:59:42 BTC/USDT

Brief update, looks to be as we are rejecting off the top of the local trendline prematurely and may be headed to test the major trendline of support (in blue). Open / Comment

2021-07-07 20:46:49 NEWS ZAP

Argentine Deputy Proposes Bitcoin Salaries in New Bill


José Luis Ramón, Argentine’s national deputy for the Mendoza province, has submitted a new bill that, if passed, would allow workers to collect salaries in Bitcoin and other cryptocurrencies.

Ramón claims that the initiative could preserve the purchasing power of employees while increasing their financial autonomy.

Under the proposed bill, workers could opt to be paid fully or partially in crypto. Those Argentines who work overseas would not have to convert their earnings to the peso after returning home.


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2021-07-07 15:35:20 Bitcoin analyst says ‘supply shock’ underway as BTC withdrawal rate spikes to one-year high!

The supply shock is being unnoticed, similar to Q4 2020 before the price of Bitcoin skyrocketed, says Willy Woo.

As Bitcoin (BTC) continues trading sideways inside the $30,000–$40,000 range, new data is emerging about the potential for a bullish breakout.

The analyst referred to the ratio of Bitcoin held by strong hands versus weak hands — also known as Bitcoin Supply Ratio — noting that the former is actively absorbing selling pressure from whales who have been dumping their crypto holdings since February.

BTC's availability on exchanges is declining with respect to the supply (blue), leading to a supply shock (green). Source: Woobull Open / Comment

2021-07-07 12:54:08 Binance Futures
#BNB/USDT Take-Profit target 1
Profit: 56.6038%
Period: 19 Hours 14 Minutes Open / Comment