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Bitcoin begins the week with a steady increase in the rate, analyst forecasts

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The new week began with an increase in the value of digital currencies , Bitcoin was able to gain a foothold at a level above $ 10,000 and gradually begins to regain previously lost positions.

The BTC rate on Monday, August 19, rose to $ 10,426, the market capitalization of the cryptocurrency reached $ 186.152 billion.

Bitcoin has created the conditions for the resumption of growth of most altcoins . For example, ether (ETH) came close to $ 200, although only recently many analysts expected it to drop to $ 170-180.

The growth leader among the top ten altcoins was the XRP token, which has risen in price over the past 24 hours by almost 10% to $ 0.286. Litecoin has updated its fundamental position and is now trading just above $ 76.

The value of all cryptocurrencies at the time of publication of this review exceeded $ 271.928 billion, the Bitcoin dominance index fell to 68.3%. BTC began to gain in value last Sunday. After a little consolidation, the coin added 3% and reached $ 10,390.

CNBC analyst and crypto trader Big Cheds believes that BTC will grow moderately, and testing the $ 10,500 mark will be a new stage in strengthening the asset. After taking the milestone of $ 10,500, Bitcoin will be able to update its fundamental positions and head to the $ 11,000 mark.

The prerequisites for strengthening the cryptocurrency market have already been fixed – investors will most likely refuse to buy the dollar and the euro by the next Thursday. On August 22, a speech by Jerome Powell, the head of the US Federal Reserve, is planned at a conference on economic policy.

According to observers, Powell will announce the inevitability of another decline in the yield of US government securities, this will force many players to switch to alternative assets, in particular Bitcoin.

Publication date 08/19/2019
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Wells Fargo Banking Holding creates stablecoin pegged to US dollar

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U.S. financial giant Wells Fargo is working on a cryptocurrency pegged to the dollar. The company announced this in its press release .

According to the company, the future stablecoin will be used as part of its own blockchain platform. Its main focus will be cross-border payments between the company and its partners around the world. Moreover, other companies outside the US will be able to use cryptocurrency to complete transactions between themselves.

The decision to issue cryptocurrency in the company is explained by the need to reduce the cost of payments between different countries, as well as the acceleration of this process. The current mechanisms cannot be called bad, but they are already outdated: high commissions, terms of several days per transaction – all this cryptocurrency can leave in the past.

Wells Fargo assures that their stablecoin will provide almost instant payments, and the process of their implementation will become much simpler. Next year, the company will begin a pilot project during which the cryptocurrency will be tested in test mode. Initially, only dollars will be available for transfers, but in the future it is planned to add support for many other currencies.

Wells Fargo is not the first bank that intends to launch its cryptocurrency, but it is not only one of the largest banks in the world and in the USA, but also one of the most expensive companies in the world. The arrival of such a player will show other companies that without their own digital currencies and blockchain ecosystems, they will have nothing to do in this market.

Publication date 09/19/2019
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North Korea plans to launch its own cryptocurrency

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North Korea is creating a cryptocurrency with which the country will be able to avoid international sanctions.

It is assumed that the cryptocurrency development project is at an early stage. Its goal is the same as that of the Venezuelan project – last year the topic of developing the state’s national digital currency, Petro, was actively discussed. A cryptocurrency that does not yet have a name will be similar to the technology used by BTC or altoins. Currently, the team that is working on the project is studying products that could be tied to cryptocurrency. It is known that the payment instrument will not be exactly supported by the national currency of North Korea.

Experts believe that North Korea has enough opportunities and developments to present a good cryptocurrency. So, we can assume that the state will be able to improve its position in this way.

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The head of the SEC said when Bitcoin will appear on large traditional exchanges

Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC. “If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure […]

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Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC .

“If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure that trade is regulated correctly , ”he stressed.

We are talking about listing conditions for bitcoin itself, and not derivatives, such as CME futures.

Recall, Clayton said earlier that some progress on Bitcoin ETFs has been achieved. VanEck and SolidX have withdrawn their application.

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Name Price24H (%)
Bitcoin (BTC)
$10,217.63
0.36%
Ethereum (ETH)
$219.82
3.91%
XRP (XRP)
$0.301520
-4.44%
Bitcoin Cash (BCH)
$319.54
-2.05%
EOS (EOS)
$3.95
-3.98%
Stellar (XLM)
$0.080968
-0.71%
Litecoin (LTC)
$76.31
-3.37%
Cardano (ADA)
$0.052595
-1.72%
Tether (USDT)
$1.00
0.11%
Monero (XMR)
$75.49
-5.66%
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