Russian Prime Minister wants to „civilize“ Bitcoin and cryptocurrencies – Outlaws in dungeon

No one is supposed to ignore the law – Russia is one of the countries that does not joke about cryptocurrency regulations, to the point of being already one of the most restrictive. The future that is reserved for Profit Secret and cryptos risks being in the same line of this strict framework, if we are to believe the last words of the Russian Prime Minister.

Cryptocurrencies, yes … but within the framework of the laws

At a recent meeting of the Russian Federation, Prime Minister Mikhail Mishustin spoke on the hot topic of crypto-assets , and especially their regulation .

Even if it is, for him, out of the question to leave cryptocurrencies in a „wild west“ mode without framing, the Russian Prime Minister at least has the merit of wanting their recognition as full assets:

“[Cryptocurrencies] are a relatively new tool, the interest of which continues to grow, and the government plans to guide the development of this market in a civilized manner, so that the owners of these assets can protect their rights and interests ( …) “

A change in taxation to integrate cryptos into the Russian economy

Mikhail Mishustin is keen to avoid the creation of outlawed “parallel systems” that could harm Russia’s economic ecosystem at all costs .

However, the politician confirms the desire to consider crypto-assets as goods , with the legal protections that this brings, but also the resulting tax obligations :

“We should make a number of changes to our tax code. Digital financial assets will be recognized as property there, and their owners will be able to count on legal protection in the event of illegal acts, as well as defend their property rights in court. “

In short, as long as crypto owners stick to the nails – tight and straight – of the law, they can enjoy their assets. On the other hand, for those who would try to get out of the traced path, a new law in preparation provides for fines and even prison terms . This can go up to 3 years of imprisonment if large sums of cryptocurrency are not declared to the Russian tax authorities.

Even if Russia does not want to miss out on the revolution that Bitcoin and cryptocurrency brings, it will not make any concessions. Things will be done properly, and too bad if it greatly damages decentralization and privacy, which were just among the main benefits of cryptoassets.

Bitcoin can face a major correction up to $13,000

Bitcoin suffered from one big correction and could have others. Bexplus offers you the opportunity to benefit from the ups and downs.

The price of Bitcoin has plummeted in the last few hours. After briefly touching $19,500, just a small step from its record, Bitcoin crashed to $16,350, a decrease of about 15%. Also, Bitcoin’s sudden correction wiped out long positions worth nearly $2 bullion-worth in three major crypto exchanges.

In fact, the overheated market cooled down quickly after it collapsed. The Bitcoin traders‘ fear & greed index stood at 93 yesterday, now it’s down to 86.
The crypto market saw it coming, and now what?

Last week, several analysts warned about the possibility of significant corrections for Bitcoin when the market was up.

There are two main reasons for the drop. The first is the selling pressure of $19,000, as the whales considered it a good place to make a profit.

BTC breaks 18K, what do you have to do to join the crypto party?

What caused the correction?

The second is the excess of leveraged positions in the main crypto exchanges. In recent weeks, the funding rate for holding long positions has been exceptionally high, with a multi-month high of 0.098%, indicating that the market was overleveraged and buyers were facing increasing pressure to maintain their long positions.

In addition, unfavorable news is worrying some investors. It is rumored that U.S. Treasury Secretary Steven Mnuchin plans to introduce stricter rules for private wallets, requiring users to go through the KYC process.

Ray Dalio, founder and co-chairman of Bridgewater Associates, expressed concern about the limited number of Bitcoin users and the continued volatility. He also commented that the government may one day ban it.

While the market has cooled somewhat, many remain positive that the largest crypt currency by market value could touch $20K in the coming months, or even weeks. In fact, analysts argue that investors continue to buy bitcoins to protect against inflation, while the 2017 rally was initiated by retail investors.

Joel Kruger, currency strategist at LMAX Exchange, shares his views: „We don’t think the Bitcoin reversal is a reflection of any worrying fundamentals?we see the move as a long overdue correction after an explosive run.

Before reaching $20K, there are still some obstacles that Bitcoin must cross. According to Philip Swift, the creator of Lookintobitcoin.com, the Golden Ratio Multiplier indicator indicates that $16,000 and $13,000 are the key support levels. If Bitcoin doesn’t break cleanly out of $16K, it could revisit $13K and start the whole climb again.

Bitcoinhvaleklynger viser at ‚institusjonell FOMO‘ står bak BTC-rallyet

Data viser at Bitcoin-hvaler og institusjoner står bak det nåværende rallyet, et signal om at neste oksemarked kan være sterkere enn det som ble sett i 2017.

Data viser at institusjoner sterkt akkumulerte Bitcoin i området $ 12 000 – $ 15 000, og ifølge analytikere på Whalemap er dette en positiv trend fordi institusjoner og hvaler vanligvis akkumulerer eiendeler med en langsiktig investeringsstrategi i tankene.

Det faktum at større hender akkumulerer BTC i stedet for detaljinvestorer, forklarer også den noe undertrykt mainstream-interessen for Bitcoin, som Cointelegraph tidligere rapporterte. Ulike beregninger, inkludert Google Trends, har vist en svak mainstream etterspørsel etter BTC til tross for parabolsk rally de siste månedene.

Institusjonell „FOMO“ gjør dagens BTC-rally sterkere enn tidligere sykluser
Hvalkartanalytikere beskrev den nylige økningen i etterspørsel etter Bitcoin fra hval som „institusjonell FOMO.“

FOMO, forkortelse for „frykt for å gå glipp av“, refererer til en trend der investorer i økende grad kjøper inn en eiendel som frykter at den kontinuerlig vil øke. Med henvisning til et diagram som viser hvalklynger og tilstrømning i hvalpunge, sa analytikerne:

„Dette er nivåene, og slik ser institusjonell fomo ut.“

Bitcoin hvalklynger gjennom hele 2020. Kilde: Whalemap
Hvalklynger dukker opp når hvaladresser – adresser som har over 10.000 BTC – kjøp Bitcoin og ikke flytt den over lengre perioder.

Dette viser at hval planlegger å holde sine siste BTC-kjøp i sine personlige lommebøker. Hvalkartanalytikere sa:

„Bobler indikerer prisene hvalene har kjøpt BTC de holder for øyeblikket.“
Den aggressive akkumuleringen av Bitcoin fra hvaler skjedde sannsynligvis basert på to viktige trender som har vært til stede i kryptovalutamarkedet siden oktober.

For det første har det vært en kraftig reduksjon i avvikling av kortkontrakter gjennom det siste rallyet. I tidligere samlinger, da BTC brøt ut, ble kontrakter til en verdi av 100 millioner dollar avviklet på større børser. Dette viser at rallyet ikke var en kort klemme, men en faktisk akkumuleringsfase.

For det andre har spotmarkedet ledet derivatmarkedet, ikke omvendt. Når prisen på BTC økte, var finansieringsgraden til BTC sjelden over gjennomsnittet 0,01%.

Den lave finansieringsgraden viser at futuresmarkedet ikke har vært flertallslangt, noe som viser at etterspørselen kom fra andre steder.

Dette oksemarkedet vil være mer stabilt enn 2017

På toppen av den økte involveringen av hvaler og institusjoner har det totale handelsvolumet økt betydelig den siste tiden.

Data fra Santiment, et markedsanalysefirma på kjeden, viser også Bitcoin-volum på rundt 31 milliarder dollar, og dette er mye høyere enn 6. januar 2018. På den tiden var BTC-prisen også på rundt $ 16350.

Santiment-analytikere fant at den pågående rallyen har mer volum bak seg enn 2017-rallyet. Analytikerne skrev:

“Med Bitcoin som slo $ 16350 på CoinbasePro for en time siden, er vi nå på det høyeste prisnivået på 34 måneder (6. jan 2018). Gj.sn. daglig handelsvolum denne uken er $ 31,0 milliarder dollar mot $ 18,5 milliarder da. ”
Som Cointelegraph rapporterte, forblir veisperringen på kort sikt for Bitcoin om hval vil selge mot $ 17.000 motstand. Noen analytikere sier at det ikke er noen klar motstand før området $ 18 500– $ 20 000, noe som betyr at en heltidshøyde kan være mye nærmere enn de fleste forventer.

Bitcoin-Trendanalyse – Der 16.000-Dollar-Berg erwartet zunächst einen gesunden Rückzug

Der Bitcoin-Trend befindet sich derzeit weder im zinsbullischen noch im bärischen Bereich, da die Händler nach genauen Richtungen suchen. Obwohl der BTC-Preis in Richtung des oberen Endes des aufsteigenden Preiskanals drängt, sind die Händler optimistisch vorsichtig in Bezug auf die überlastete zinsbullische Rally auf dem Tages-Chart.

Da sich BTC / USD über 15.750 USD hinausbewegt, sind Pro-Trader besorgt über die Dynamik, da ein abnehmendes Volumen das Kartenhaus stürzen kann

In den letzten Wochen stieg der Bitcoin Code Preis spektakulär von 11.950 USD auf ein Hoch von 15.950 USD. Nach einer starken Leistung ist es ganz natürlich zu erwarten, dass sich der Chart vor Beginn der nächsten Rallye abkühlt. Das BTC / USD-Diagramm zeigt einen Anstieg von 35 Prozent allein in den letzten 30 Tagen, und professionelle Händler glauben, dass der Preis jetzt einen anständigen Rückgang benötigt.

An der Makrofront gab es keine offensichtlich negativen Nachrichten, die die Alarmglocken läuten ließen. Da der Bitcoin-Trend zwischen 15.000 und 16.000 US-Dollar schwankt, wird es für die Anleger schwierig, eine Anlageentscheidung zu treffen. Die überlasteten technischen Indikatoren erschweren die Sache weiter.

Crypto Fear and Greed Index – Extreme Gier erfordert eine Abklingzeit

Gegenwärtig zeigt der ‚Crypto Fear and Greed Index‘ einen Wert von 90 an, was einem Grad extremer Gier entspricht. Wenn die Messwerte hoch sind, erwarten die Händler, dass der Markt korrigiert und in der Regel zu kurz kommt oder Gewinne mitnimmt.

Eine Mischung aus Daten aus On-Chain-Quellen und Krypto-Austausch zeigt, dass es nicht zu einem bevorstehenden Abblasen kommt. Willy woo, ein berühmter Krypto-Analyst, sagt, dass Händler nicht sofort zu kurz kommen werden und es eine geringfügige Korrektur im BTC / USD-Chart geben würde. Das ‚Long-to-Short‘-Verhältnis erklärt weiter, wie sich die Bitcoin-Trendsituation in den nächsten Tagen entwickeln könnte.