Forex and Crypto News

The cryptocurrency prices can be manipulated

10:21 10 December /2018

Some big participants of the crypto market can manipulate cryptocurrency rates to buy them at a “waste” price. This theory was expressed by the portal Ethereum World News. He also noted that the SEC doesn’t punish speculators.

The activity of Wall Street companies may be associated with the early launch of the services, intended to attract institutional investors.

As the portal notes, one of the first products for whales was offered by the Chicago Stock Exchange Options, which introduced Bitcoin futures at the end of last year. At the same time, we observed the "bull rally", during which the price of BTC rose to around $20000.

Meanwhile, the US SEC has not provided any specific guidance on cryptocurrency regulation and the usage of blockchain technology in the United States. However, the SEC has repeatedly opposed ICO and issued fines to companies.

The lack of regulation can mean that the SEC won’t stop negative statements about cryptocurrency or related topics, which have a bad effect on rates and the market generally.

“If the SEC had also responded quickly to public statements about cryptocurrencies, as they responded to the Elon Mask’s tweet, the crypto market would be a much safer place,” notes EWN.

SEC doesn’t punish those who manipulate the market, and thus creates a situation of the "Wild West" when traders and other participants should adapt to the changing circumstances.

Billionaire and CEO of Galaxy Digital crypto fund Mike Novogratz earlier told the Financial Times that his company faced serious difficulties that usually are not typical for companies in the field of traditional finance. As Novogratz says, the development of a cryptocurrency business is a bad idea in the current environment.

It should be noted that the launch of Bakkt, originally planned for November, was postponed to the beginning of 2019. That's a coincidence?

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ICO projects sold 400,000 ETH during November

During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.

According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov

12:01 17 December /2018