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Bitcoin The ETF waits only a little more time when SEC deferes the decision of the VanEck Solid X ETF. The Bitcoin mining company , based in Beijing, Bitmain Technologies, plans to submit an IPO application. Drafts of South Africa Proposal to tax cryptocurrency. The percentage of Bitcoin Dominance rises to 50% for the first time in 2018. People in Turkey download Lira for bitcoins with the worsening economic conditions
Another week waiting for a decision on the VanEck Solid X ETF the SEC was postponed to September 30, 2018. As the SEC had previously clarified that it requires a regulated bitcoin market and the price guarantee that the price of the digital asset is not manipulated, the Intercontinental Exchange announcement that offers a regulated federal market for Bitcoin could be a response to SEC requests. Even if the scheduled date for the launch of the new ICE exchange is nearing the end of the year, by September 30, the SEC may have a clear idea of how things could disentangle. Bitman Technologies. The cryptocurrency mining unicorn has announced it is depositing for a potentially high initial public offering (IPO) of $ 18 billion in September with a market capitalization of $ 40 to $ 50 billion. This would be one of the biggest IPOs ever archived, even surpassing Facebook as Facebook. It will be underwritten by China International Capital Corporation and listed on the Hong Kong Stock Exchange in the fourth quarter of 2018 or in the first quarter of 2019. The South Africa Revenue Service (SARS) has now proposed draft regulations that deal with how cryptocurrencies would be treated in the country . In the proposed regulations, cryptocurrencies will continue to be treated as intangible assets and will therefore continue to be subject to income tax. The Turkish lira (TRY) declined by weakening the value of the currency held by the Turks, thus deepening the crises in the country after President Donald Trump announced that he was doubling metal prices. To find shelter in the midst of this downpour, Turkish citizens started buying bitcoins by downloading the Turkish Lira lira.
Bitcoin [BTC]
The collapse was imminent if there was a refusal of Solid X VanEck BTC ETF. But even a postponement was ruthless as the rejection would have done. The prices of BTC have collapsed and so does the sentiment in the street crypt almost every coin and token that hit. The only positive thing here was that BTC still held $ 6,000 of the eminent level of support that many people talked about. The prices hit the highest point of USD 7,166.55 and the lowest point of USD 6,109.03 during the week. In addition to the anomalous values of BitMEX and BitForex which had volumes exceeding 25%, the most active exchanges, in volumes, with BTC on various pairs this week were Fcoin (2.68%), Binance (2.27%) and OKEx ( 2.05%)).
As prices fall, the first comments on the umbrella have begun to appear on the screen with Mike McGlone, a Bloomberg analyst said that Bitcoin is in landfill mode, following the pump price increase on the potential of an ETF US. It may not subside until you see good support near $ 4000 – the average of last year. To bring a little positively Thomas Jack Williams, co-founder, B4U Global, stated that Bitcoin is the future of global payments
Ethereum [ETH]
Ethereum, all the brilliance that has been gathered seems to be looking for the second big boy. Its congestions and blockchain problems are causing the loss of the battle to Stellar, Tron and EOS. It's not just technology, but slowly the Ehtereum is not considered economically efficient. His smaller compatriots are gathering the tide slowly approaching the Ethereum standards. A point of concern, but still Ethereum can not be deleted. Prices at the top this week were at USD 414.54 and remained at USD 308.49 lows being practically in this range. The markets that were most active, in volumes, with ETH on various pairs this week were DOBI Trade (5.07%), EXX (3.47%) and Binance (3.36%) again BitForex which was an outer 26.58%
In the news that surrounded Ethereum was that Olivier Alirol, CEO of Connecty chose Stellar technology on Ehtereums because he believes that it is 100k times cheaper than Ethereum plus has no congestion. In another loss of battle. Everipedia, the decentralized version of Wikipedia, has dropped Ethereum's blockchain for launching on EOS. The Everipedia developers believe that building the platform on Ethereum is "hardly sustainable" because of its existing scalability problems.
In addition, read: Binance Use of XRP as base currency Makes only: Siss Weiss Ratings
Ripple [XRP]
XRP & # 39; s The phantom of being defined as security is not ready to leave the XRP on the trading screen, but in real-world usage cases, there is no other currency that moves as fast as Ripple. The price may not be a true indicator of the basic work that Ripple is doing, but the ghost is a security or not it is much bigger. At the top, this week XRP prices were $ 0.435794 and downward they traded 0.291582 USD. The most active exchanges, in terms of volumes, with XRP on several pairs this week were Bitbank (17.29%), Huobi (8.76%) and Binance (6.70%).
Despite not having had a large price movement, XRP managed to collect some news as Weiss XRP ratings "is the fastest digital asset to transfer funds between an exchange and a service platform Philippine-based financial system called Coins.ph ", which reported 5 million userbase, has just added XRP-based payments to its platform and provided traces to some of its users.
The other promoters and shakers
The other coins that have reached the top and the bottom this week according to Coin Market Cap (access on August 12th at 10:15 pm IST) were
Movers
- Touristic Token – Showing a 139.83% increase
- Global Currency Reserve – Showing a 130.63% increase
- Webcoin – Showing an increase of 85.16%
Agitators [19659019] RealChain – Showing a fall of 61.32%
What to do you think would be the feeling of the cryptic markets next week? Let us know your opinions on the same
Summary
Article
Bitcoin [BTC] Ethereum [ETH] Ripple [XRP] Analysis of prices for the week 6-12 August
Description
Bitcoin's ETF waits only a little bit more when SEC deferes the decision of the ETF to VanEck Solid X. Bitcoin mining company, based in Beijing, Bitmain Technologies, plans to submit an IPO application. Drafts of South Africa Proposal to tax cryptocurrency. The percentage of Bitcoin Dominance rises to 50% for the first time in 2018. People in Turkey download Lira for bitcoin when economic conditions worsen.
Author
NILESH MAURYA
Name publisher
COINGAPE
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