BTC/USD exhibited a resistancelevel at $10,575 and $10,700 respectively; however, confluences have not beendetected. The 100-day simple movingaverage (SMA 100) shows a support level at $10,500.

The recently conducted G-20summit took place in Osaka, Japan, and they will be adopting the standard setby the Financial Action Task Force (FATF). When discussing this issue, Flex Yang, CEO of Babel Finance, stated:

"When these standards areinto effect, interexchange transactions will require transparency regardingsenders and receivers of cryptocurrency.”

This will lead to a lot ofscrutinies from the regulators eventually warranting a need to probe differentledgers to identify illicit participants from crypto exchanges, hacks,etc. Bitcoin continues to be interestingto institutional investors; however, the risk threshold is lower, andtherefore, traditional investors are working with a lot of caution.

Yang further stated, “It’s liketrying to deposit money in a bank that is from a drug cartel or criminalenterprise; banks will refuse to process transactions.”

China prefers virgin Bitcoin, andthe mining industry in China is thriving well. Yang further stated that the actual buyers are from the US and otherregulated areas. Miners in China aremostly sellers.

Buyers buy these coins inapproval of its novelty and by perceiving the ease-of-compliance associatedwith the token in a situation involving regulatory uncertainty.

In reality, virgin Bitcoin willnot help family funds or individuals making the buy, but there is moreconfidence in virgin coins, and therefore, this coin fetches high premiums.

The transaction history of theBitcoin might reveal whether it has passed through a host of illegal pathwaysor money laundering attempts. Badhistory might be a reason for why some Bitcoin has low value. Just a few bad tokens might render a symbolto be unclean.

CEO of CipherTrace stated, “Whilethis is less likely to affect those holding small amounts, larger traders couldpotentially, and unwittingly, hold larger amounts of stolen assets, loweringthe value of their investment pool through association.”

This is noteworthy because even asingle shady transaction might render the coins from an entire cryptocurrencyexchange to appear shady.

The new question doing the roundsnow in the market is on whether Donald Trump can ban the Bitcoin? Severalinvestors have a knee jerk on listening to this proposition. Will a ban onBitcoin be unconstitutional? Some believethat a bill to ban Bitcoin will be invalid even if it is passed.