Several Cryptocurrency Exchanges Have Placed Limitations on US TradersJune 15, 2019
Why the market is moving in a certain direction is essential information which every cryptocurrency investor will need to know before they put their money in there. The Bitcoin gains value, and suddenly it loses value and users are not sure of how the heck it has been happening.
At the current price point, the price of Bitcoin went high up to 170% ever since December. At a point, people can lose everything or a major percentage of their investment.
Charles Hayter, Cofounder, and CEO at Crypto compare stated, “The market is seeing new entrants and excitement on several fronts.”
Those who are looking to trade actively and those investors who prefer to buy and hold are entering into space.
Hayter further stated, “The rise itself attracts new entrants, but many new developments are underpinning the fundamentals.”
Mati Greenspan recently opined, “It seems we have a few milestones to look forward to.”
The white paper for Facebook’s Coin is scheduled to be released in the forthcoming week, and Greenspan spoke about that as well.
When Facebook announces its coin, it will likely have a positive effect on the market trends and the attitude of the investors towards the cryptocurrency.
It is only with continued interest that futures coin will be able to succeed, David Martin recently stated, “There has been a substantial 165% month-over-month increase in open interest in CME and CBOE futures contracts.”
Martin further stated, while the trading volume health is essential, the digital asset should be sustained with open interest from long-term holders. This is also applicable to new entrants if they should deal with a sustainable, and increased adoption for the asset. This is particularly true when the asset will trend out in it’s speculative faze.
The environment for the cryptocurrency exchanges is changing. Several exchanges have limited US traders.
DiPasquale stated that the regulatory environment is gaining more clarity, and several exchanges are restricting access to US traders, and eventually, several compliant solutions are cropping up. Binance has decided to launch a transfer specifically for the US. He further claimed: “Overall, these developments are poised to bring transparency to the market and promote the influx of new retail and institutional investors.”
JP Morgan has recently sought a job candidate who has Bitcoin scaling technology-related knowledge. However, they continue to state that they are not doing anything with the actual Bitcoin.