Bitcoin Course: Tracking the Bulls – The situation on Wednesday

Criptomonedas e ICOs | Bitcoin Course: Tracking the Bulls - The situation on Wednesday

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Looking at the Bitcoin course, not much has happened since last Wednesday. The price trend of the largest cryptocurrency by market capitalization is still in the fragile lateral position – from the moon trip the crypto market seems still far away. The question is: where are the cops lurking?

Germany: Planil hope

As before, the promise to be a safe harbor for the Blockchain scene over the Federal Republic and its Kryptonauts hovers over the coming year. The lifting of the separation bid, which will come into force in January 2020, will eventually allow banks to retain Bitcoin. In addition, the crypto-custodian business will fall under the supervision of the Federal Financial Supervisory Authority (BaFin) from next year.

The legal cornerstones for a bitcoin adaptation are already set. However, the willingness of the banks is limited: whether Deutsche Bank, ING, DZ Bank or Berliner Sparkasse: Everyone is watching the situation. That it actually comes to action, is not to wait for now. Rather, German banks are practicing refusal of innovation here.

The Federal Government's blockchain strategy is also making slow progress. As can be seen from a response by the German Federal Government to a written question by Frank Schäffler, aspirations are indeed there. Accordingly, Germany wants to expand the innovation in the areas of quantum computing, robotics, autonomous systems, augmented reality, blockchain and other buzzwords. But it will not be more concrete:

The Federal Government has no specific programs to promote application-oriented research by Blockchain,

it is said by the government. The sobering conclusion that can be drawn from the German blockchain situation: big goals, a lot of promise, little content and no plans. It is still a long way to the Blockchain Republic of Germany.

Bitcoin Lightning: Adaptation with pitfalls

The fact that the Bitcoin Blockchain has a scaling problem has never been a secret in the scene. Due to the amount of work it takes to add and validate transactions in the blocks of the blockchain, the network as a whole has to cope with speed losses. Quickly send countless transfers around the globe? Not so fast.

But the Bitcoin Community would not be itself if it had not found an alternative way to solve this problem. The Bitcoin Lightning network operates outside the blockchain, providing the ability to send BTC at lightning speed. But here, too, there are currently still problems. Ease of use is another point that not only separates the Lightning network from the "big crowd". If you want to pay fast, it is still best to consult a card on the reader or simply to put coins on the table.

But slowly but surely the Lightning network is moving into the scene – Bitfinex has recently announced that traders can now send on the Krypto Exchange via the Lightning network BTC. Disregarding all legitimate criticism of the scandal market, the company is thus making an important contribution to the ecosystem.

Denmark: Restrictive Bitcoin regulation slows down innovation

Meanwhile, Denmark tends to be restrictive in terms of cryptocurrency. A Danish court ruled that Nordea Bank was allowed to prohibit its employees from investing in Bitcoin & Co. The rationale: The Bank's fears that it could throw a bad light on the company if its employees were exposed to the dangers of cryptocurrencies. A restriction on the freedom of choice that slows down innovation in the Scandinavian country.

Bitmain: Mining giant is bullish

Mining giant Bitmain is meanwhile bullish. So the company offers miners and those who want to be, the opportunity to enter the business at a discount. Preliminary discounts on mining equipment or the ability to shorten Bitcoin should provide incentives to grow their own businesses. In the process, which pushes for a closer look, Bitmain relies on the upcoming Halving in the year 2020. Finally, the scene expects an increase in the Bitcoin price.

Where are the Bitcoin bulls?

The examples of Germany and lighting integration have potential. If German companies succeed in exploiting legal security and expanding the blockchain ecosystem, the Federal Republic of Germany could get a considerable boost in adaptation. The spread of the Lightning network can ultimately lead to a spread of the crypto-ecosystem. If this happens, then one may expect bullish tendencies – garnished with the upcoming Halving and the bullish prognosis of the German bank, excellent bullfed will be spread here. But this requires active cooperation: Germany, which at times appears to be frightened of innovation, needs strong hands that provide a fertile ground for the technology landscape. Then it works with the Bitcoin course.

What else was important

In the meantime, the US company Crusoe Energy Systems announced that it wants to work indirectly on the energy efficiency bitcoins in the future – they want to mine new BTC with the help of surplus natural gas. China is currently working tirelessly on the state-owned cryptocurrency. First tests are scheduled for the end of this year. There is also news on the second largest cryptocurrency by market capitalization. So the ethereum network finally managed to carry out the Istanbul update.

The Privacy Browser and Google Schreck Brave is on the road to success. The project around the cryptocurrency Basic Attention Token (BAT) with more than 10 million users was able to set new records. Meanwhile, the Austrian Financial Market Authority is preparing itself for the year 2020 – here, too, one recognizes the opportunities and risks of digitization.

By the way: For fans of the technical chart analysis and data freaks we have a special delicacy this week: Our chief analyst can be seen in this article in the maps.

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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO , and should not be attributed to, CriptomonedaseICO .

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