Consolidation moves still dominate Bitcoin trading over the past week

Consolidated movements dominated the bitcoin and other digital currencies during the last week’s trading, as the bitcoin remained sitting slightly above the $3,500 level, in light of the continued relative weakness of the demand for buying digital currencies, amid investors’ anticipation for new evidence regarding important events expected to occur for For the digital market during this year, which will push more liquidity to the market and attract new investors.

Over the past two weeks, the Bitcoin transactions were limited to certain limits to trade in a narrow range, and the majority of cryptocurrencies remained stuck in a specific range near the falling levels recorded at the end of 2018, despite the many attempts that were made to support prices.

Company experts expect Q8trade That this year the market will see more regulation of cryptocurrencies and that price increases will be slow compared to what happened previously.



The Organization for Economic Cooperation and Development said it called on global regulators to jointly cooperate to create a regulatory framework for cryptocurrency trading, oversee initial coin offering offices and work to adequately protect investors.

The Bank of England's chief adviser, Ho Van Steins, criticized cryptocurrencies, saying that they do not top the list of concerns as they fail basic tests for financial services, and they are not a good exchange unit because they do not have value.

Contrary to the criticism of the British central bank’s chief adviser, Nasdaq CEO Adina Friedman said that the cryptocurrency deserves a better chance to find a sustainable future for it. The field of crypto to gain the trust of its investors as it sees that digital currencies will have a place in the future.

The CBOE has announced that it has withdrawn its plans to list bitcoin in exchange-traded funds (ETFs), attributing the decision to the partial shutdown of the US government. The funds are backed by investment firm VanEck and financial services firm SolidX.

VanEck CEO Jan van Eyck stated that the partial US government shutdown affected the work of the US Securities and Exchange Commission, and that the company withdrew its application for approval to list bitcoin in exchange-traded funds, and added that we will return to the discussions again when The committee is back in business.

This week, the New York Financial Services Authority granted a license to Robinhood to trade stocks and cryptocurrency, which includes seven cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash and Litecoin, and granted a license to the digital currency LibertyX, which allows its users to use debit cards to buy Bitcoin from ATMs. traditional automation.

Mohamed Abdel Khaleq

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