Cryptocurrency Market into Action – Whether Upward or Downward

By dan saada October 27, 2019 Off
Cryptocurrency Market

Cryptocurrency enthusiasts have been having a great year so far, with all the ups and downs in the cryptocurrency market.  The potential expectation out of the cryptocurrency market is increasing.

The different cryptocurrency conferences held across the world bring in the various constituents of the cryptocurrency market to the table.  Whether the developers, investors, or reporters are contributing to effective events in the industry.

The Vegas Blockchain Week set to happen from October 29 through October 31 is a not to miss conferences for enthusiasts.  The San Francisco Blockchain week is all set to occur from October 28 through November 4.

Between November 14 and November 15, the BlockShow is scheduled to happen in Asia.  The Fintech World Forum is all set to occur in London between November 18 and November 19. So, the cryptocurrency conferences for this year are not over yet.  Those who love discussions would want to ignite up their time, making it to these conferences.

KuCoin, Cryptocurrency Exchange, will soon be launching margin trading for its investors.  The service will be live from October 31, 2019.  There will be a 20% discount at the time of the launch.  Margin trading is popular among swing traders who improve on their gains when there are market swings. However, on the downside, the losses can be amplified if things do not work well.

China is all set to enforce its new cryptography law.  An official report published read thus:  “The cryptography [law] is aimed at standardizing the application and management of passwords, promoting the development of the password business, ensuring network and information security, and improving the scientific, standardized, and legalized level of password management.”

While cryptocurrency continues to be under the ban in China, the Country seems to project a positive stance towards the blockchain technology.  The Country has recently announced that they will be launching a government-backed cryptocurrency during November.

While all this was happening, the price of the Bitcoin went up over 40% in response to news from China that supported the cryptocurrency.

The search volume for blockchain has reportedly increased to 1,200% on We Chat following the recent announcement about the Chinese Cryptocurrency laws.

Chinese President, Xi Jinping, has made the days following his announcement an eventful one for the investors.  The term “blockchain” was searched for nearly 800,000 times, and there were near 600,000 reported searches for the Bitcoin. Being the second-largest economy in the world in terms of GDP, any news from the Country will set the cryptocurrency market into action, whether upward or downward.