After waiting for Bitcoin ETF, the companies of Wall Street finally bring the products to adopt cryptocurrecnies and bitcoins. The Winklevoss twins launch the Gemini dollar, "the first regulated stablecoin in the world". Research suggests that Millenials love blockchain. The Blockchain association arrives in the United States to work on crypto-favorable policies. The US regulator states that the cryptocurrency regulation requires a "Do No Harm" approach. Between Coinbase exchanges, BitGo to focus on service institutions. Globally, the Indian court to hear RBI-Crypto Case next week. In the mining sector, another research suggests that Gold Mining consumes more energy than Bitcoin Mining.
Wall Street's patience seems to have paid off for the ETF. Finally, after the entry of Goldman Sachs into criptos, 3 other Wallstreet companies entered the cryptography sector with their own set of derivative products. Last week, a Digital Asset Receipt from Citigroup, a Price Swaps from Morgan Stanley and a Non-Deliverable Forward from Bank of America and Merrill Lynch were introduced to meet the demand for institutional investors.
This week, the dynamic duo, Winklevoss Brothers, launched the creative Gemini Dollar, "the first regulated stablecoin in the world." Stablecoin (GUSD) is an ERC20 token pegged to the US dollar 1: 1 with oversight by the New York State Department of Financial Services. As Tether, an independent auditor will confirm each that the USD reserves are equivalent to those of GUSD.
Unlike Tether, the accounting firm probably exists. In the recently conducted research it was concluded that Millenials (or Generation Z, now?) Are on board the blockchain train. Even with the market downturn, collegial blockchain courses are as popular as ever. The Blockchain student organizations of Penn, Berkely and Cornell boast over 100 strong members and blockchain courses are in high demand. This continued interest in even the weakest markets is a strong sign of future adoption.
In the United States, key players Coinbase, Protocol Labs and Circle have partnered with investors such as Polychain Capital to form the Blockchain Association. The trade association will act as liaison with policy makers on the capital hill, working to ensure that crypto-favorable policies continue. This seems to be a positive step to remove the haze from the current regulatory landscape of the blockchain while (hopefully) not stifle innovation. US regulatory authorities chairman, J. Christopher Giancarlo, said that when it comes to cryptocurrency supervision, regulators should avoid inhibiting innovation, but be careful about handling. Speaking to CNBC, Giancarlo said: "How the government has previously adopted a" non-malicious "approach to the Internet that has helped to blow up what it is today, I am supporting the same approach to cryptocurrencies and everything related to this new digital revolution of markets, currencies and asset classes ".
Coinbase and BitGo have stated that they will continue to facilitate the growing demand for Bitcoin from institutional investors by acting as reliable custodians. The idea is to encourage new capital in Bitcoin and institutional demand could do it. Globally, the Indian Apex court has heard the case on the Indian central banks that blocked the cryptos and decided the future of cryptocurrencies in the country.
BTC this week relied heavily on the sentiment of the news stream. The Top coin was even better positioned in terms of volatility than other altcoins. Prices hit the highest point of USD 6,596.10 and the lowest point of USD 6,260.21 during the week. In addition to the anomalous values of BitMEX and BitForex which had volumes of 18.55% and 30.79% respectively, the most active exchanges, in volumes, with BTC on various pairs this week were, Bithumb (2.73%), Binance (2.29%) and DOBI Trade (2.15%),
In a bearish statement on Bitcoin, an author and contrarian Geoffrey Caveney offered an answer to this question, saying that bitcoin is headed towards a trend towards much worse downside, perhaps from the rest of 2018 to the next two at least years. An author and contrarian Geoffrey Caveney has offered an answer to this question, saying that bitcoin is heading towards a much worse downtrend, probably from the rest of 2018 to the next two years.
In addition, read: Bitcoin skips $ 6,500 and Altcoins Hike, Venture Capitalist predicts how Internet Evolution Crypto for Hit Trillion Dollar
Ethereum had a weeklong swing and eventually concluded the 9.75%. The mid-week Ethereum was aimed at 170 USD just to claim land and recover to exceed 200 USD. The top prices this week were at USD 226.60 and were at USD 170.26 lows creating a bearish sentiment for most of the week. The markets that were most active, in volumes, with ETH on various pairs this week were DOBI Trade (5.18%), Huobi (4.22%) and Bitfinex (4.21%) still BitForex being an anomalous value of 27 , 06%
As per article by Olga Kharif and Kenneth Saxton, via Bloomberg, technical indicators are reporting that Bitcoin and Ethereum may be ready to fund and subsequently see an upside reversal. As the two say, "an indicator of market inversion that recognizes the turning points states that the selloff is exaggerated."
XRP remained flat this week without major movements and news like all eyes on Ethereum. At the top, this week XRP prices were $ 0.284941 and down they traded 0.255756 USD. A pair of exchanges that exchanged XRPs were unusually active, in volumes. The first 3 were in various pairs this week: ZB.com (26.82%) Huobi (11.91%) and Bitbank (8.82%). It was a whale movement on ZB.com this week is not yet clear.
This week, XRP had excellent news when Ripple entered the Middle East market to hire Stellar in the iSlamic banking sector with a partnership with the NCB of Saudi Arabia.
The other promoters and agitators
The other coins that have reached the top and the bottom this week according to Coin Market Cap (accessible on September 16th at 11:30 pm IST) have been
Movers  FUTURAX – Showing an increase of 398.70%
- Token PKG – Showing a decline of 71.29%
- Namecoin – Showing a decrease of 47.53%
- eosBlack – Showing a decrease of 47.53%
What do you think would be the sentiment of the crypto markets next week? Let us know your opinions on the same