As Bitcoin price continues to lower, a bear market is expected to return. The cryptocurrency has dropped below eight thousand dollars ($8,000). Optimists believe that the variable trends are good for the market.
However, other currencies are doing better like Chainlink has seen a price surge of around thirty percent (30%) while the XRP has moved up by seven percent (7%) in terms of its value in the crypto market.
Whereas, various altcoins moved towards bottoming, which is why it can be stated that the year has not been too good for the altcoin market, while the Bitcoin price story isn’t much different.
Telegram’s Gram cryptocurrency is about to launch, and it may attract new hype in the crypto market.
Decentralized Finance (Defi) is gaining attention, as fundraising in cryptocurrencies is expected to grow as a new model.
Although the crypto market has started slowly in October, the crypto assets may draw a new picture for the end of the year.
Where is the Bitcoin price movement headed?
Bitcoin trading has tremendously increased in Hong Kong. Despite the current state of disturbance in the region, the trading volumes have been recorded at their all-time-high while the protests are still ongoing.
The United States Securities and Exchange Commission has fined Block.one with twenty-four million dollars ($24mil) as the organization has violated security offering regulations. The EOS.IO was able to raise over four billion dollars ($4bil) in the Initial Coin Offerings (ICOs).
John McAfee has recently introduced the McAfeeDEX, which is a no-restrictions, decentralized exchange. The platform is currently live in its beta release.
The ongoing protests in Hong Kong have led to the destruction of three hundred Automated Teller Machines (ATMs) in the region, while Bitcoin has seen a tremendous increase in its trading volumes.
Bayerische Landesbank, a publicly regulated bank based in Germany, has reported that Bitcoin (BTC) is expected to reach ninety thousand dollars ($90,000) in terms of its market price by 2020.
Fees charged by the Coinbase Pro platform have increased by a whopping two hundred and thirty-three percent (233%). The Coinbase exchange has announced the new rates recently, and the surge is for the maker trading fees for trades and transactions below ten thousand dollars ($10,000).
A Germany company is being investigated by authorities based in Florida. The company was advertising a token that is tied to a cryptocurrency bank based in Miami, while it had no license for banking in the state. The company sold gold products before it entered the crypto space.
PayPal has pulled out from the list of companies that are included in Facebook’s Libra Association. The said list of companies is nominated for the upcoming cryptocurrency’s governance. Mastercard and Visa are also expected to back-out from the Libra project.