Summary:
- Bill Clinton, the former US President, warns lawmakers against overregulating crypto
- Maltese Prime Minister Joseph Muscat names cryptocurrencies as "inevitable future of money"
- Bitcoin (BITCOIN on xStation5) settles down a notch above the $6500 handle
The beginning of Tuesday’s trading saw continuation of the lacklustre movement we saw earlier among major cryptocurrencies. Over the past 24 hours major coins, excluding Ripple as its price slipped nearly 4.5%, have not experienced any bigger price moves. The capitalization of the whole market stands a little above the $220 billion mark whereas the capitalization of the most popular cryptocurrency sits slightly below the $115 billion. In today's news section we will focus on remarks from two important politicians.
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BITCOIN is trading in the vicinity of the $6500 handle and a notch below both 8- and 33-period moving averages on the H4 chart (yellow and purple lines). The most famous cryptocurrency has been swinging in the $6100-$6700 price range for the past month. Source: xStation5
Firstly, let's mention Bill Clinton's speech delivered at Ripple's crypto conference on Monday. Referring to concerns related to technologies like GPS appearing in the past, the former US President Clinton claimed that an old regulatory regime can not be implemented to a new technology. He stated that an intelligent effort should be taken to identify possible downsides. Clinton also encouraged to "end up killing the goose that laid the golden egg" in relation to cryptocurrencies. The crypto-related Ripple's event called Swell is currently taking place in San Francisco.
ETHEREUM, like its crypto peers, did not see any more spectacular movements this week. Nevertheless, Ether has moved around 0.5% lower since yesterday. At press time, the cryptocurrency with the second largest capitalization is trading around $225. Source: xStation5
The second piece of news comes from New York where Maltese Prime Minister, Joseph Muscat, expressed some interesting crypto-related remarks in a speech during the general debate of the 73rd UN General Assembly. Joseph Muscat said that "blockchain makes cryptocurrencies the inevitable future of money". The Prime Minister of Malta also hailed many benefits of the blockchain technology. Let us recall that Malta is one of the most crypto-friendly countries all over the world.
RIPPLE was the only major cryptocurrency to experience a more significant price movement throughout the past 24 hours. Price moved nearly 4.5% lower and the coin is now trading in the vicinity of $0.55 handle. Source: xStation5
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