Price analysis of cryptocurrency for the week from December 10th to December 16th

Members of Congress present invoices against the manipulation of cryptographic prices

Republican Ted Budd and Democrat Darren Soto have joined hands along the corridor to end the manipulation of cryptocurrency prices. The two men introduced a couple of invoices that "direct the CFTC and other financial regulators to make critical recommendations on how to improve the regulatory environment for both consumers and business development." The first law, The Virtual Currency Consumer Protection Act, asks the CFTC to analyze the current price manipulation and propose regulatory changes to prevent it in the future. The second, The US Virtual Currency Market and Regulatory Competitiveness Act, wants the organization to conduct a study of the laws of other countries to find "alternatives to current burdensome regulations that could inhibit innovation". The new bill seems a victory for all the parties involved.

CFTC In search of Ethereum know-how

The Commodity Futures Trading Commission (CFTC) is looking for your Ethereum expertise. This week, the organization has issued an information request (RFI) to learn more about the supernetwork of the smart contract. The RFI includes surprisingly relevant questions such as: "Does the Ethereum network face scale challenges? In that case, describe these challenges and any potential solutions." E "A test of the stake consensus mechanism has been tested or validated on ladder? "Maybe these government officials know a bit about blockchain after all

Coinbase donates cryptocurrencies to the Venezuelans

Needless to say, Venezuela is going through one of its worst times in a nation. And President Nicolás Maduro aggravated the situation by increasing the price of PTA cryptocurrency Petro from 3.6K Bolivar to 9K Bolivar. This too at a time when there are very few portfolios offering conversion.
Now, the main exchange of Coinbase cryptocurrencies has come to the rescue of the Venezuelans. The cryptocurrency exchange has announced that it will donate Zcash ($ ZEC) worth $ 10K to Venezuela as part of the GiveCrypto.org exchange project.

Zebpay goes live in Europe

After the biggest cryptocurrency exchange in India, Zebpay, after exiting the Indian market this September, citing unfavorable and unclear regulations, has now started its operations in the European markets. Based on Malta, the exchange is active in 21 EU countries. In its official statement, the company stated: "We live with deposits / withdrawals in euros and trading in 21 countries (Malta, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary , Ireland, Italy, Latvia, the Netherlands, Poland, Portugal, Slovenia, Sweden, Austria) in Europe. "

ICD Bank of Saudi Arabia announces isotonic blockchain banking solutions

Internationally, the Saudi media have reported that the Islamic private sector development corporation (ICD) is planning to develop sharia-compliant blockchain products. The ICD plan to roll out blockchain-based financial products is to allow Islamic banks to manage their liquidity needs. With the proposed plan for the development of blockchain solutions for an Islamic bank, ICD has already incorporated an agreement with I-FinTech Solutions (IFTS), a company based in Tunis. The ICD is a branch of the Islamic Development Bank group which states that the product signed with IFTS is designed exclusively to attempt liquidity management problems.

Bitcoin (BTC)

Also this week Bitcoin has continued its collapse. Prices hit the highest point of USD 3647.33 and the lowest point of USD 3,191.30 during the week. The most active trades, in volumes, with BTC on several pairs this week were, BitMex (20.02%), CoinBene (3.85%) and OEX (3.19%)

Among the important news on Bitcoin, Tom Lee has updated his estimate for what should be a fair price for bitcoins: between $ 13,800 and $ 14,800.

Ripple (XRP)

The XRP is still in second place while Ethereum continues to beat. At the top, this week XRP prices were $ 0.316210 and downward they traded 0.282523 USD. The most active trades, in volumes, with XRP on several pairs this week were Bitbank (11.58%), ZB.COM (10.61%) and ZBG (5.73%)

For XRP this week, Ripple added to its network the largest Israeli financial services company GMT

Ethereum (ETH)

Ether, like BTC, is hit hard and sits below USD 100 levels. The top ethereum this week stood at 96.26 USD and hit USD 82.83 lows. The markets that were most active, in volumes, with ETH on various pairs this week were OEX (8.71%), DOBI exchanges (7.71%) and RightBTC (6.62%)

Ethereum's creator, Vitalik Buterin, has just received an honorary degree from the University of Basel.

The Other Movers and Shakers

The other coins that arrived at the top and bottom this week according to the Coin Market Cap (accessible December 16 at 3:35 pm IST) were

Movers

• Veros – Shows an increase of 395.05%
• Swarm: shows an increase of 141.85%
• ARBITRAGE: shows an increase of 126.75%

Shakers

• KWHCOin – Showing a fall of 93.20%
• HyperQuant – Showing a decrease of 70.64%
• Octcoin Coin – Showing a 62.32% loss

What do you think the feeling of the cryptic markets would be like next week? Let us know your opinions on the same