Bitcoin is definitely not improving, but it stopped falling too. In the middle of February’s first week the price is still stuck a bit over $370 and there are some interesting things to mention as well. It’s always better when something is happening, than to witness days in which nothing Bitcoin related happens.
Before we move on to more serious issues that could hurt one of Bitcoin’s main advantages – anonymity – we would like to mention the launch of Xotika.tv. Believe it or not, this is the first Bitcoin adult service where customers have only one payment option. If you want to avoid using credit cards at such platforms, this unique and innovative service is now up and running.
Europe Wants to End Bitcoin Anonymity
Well, aside from the interesting news about the adult platform Bitcoin users can now enjoy, a much more important and worrisome news is the one that Europe wants to end Bitcoin anonymity. The European Commission has prepared and published an Action Plan, which is supposed to strengthen the fight against financing of terrorism.
In that plan the EC wants to bring under the scope Bitcoin exchange platforms and even wallet providers. If this is implemented, Bitcoin companies operating within the EU will have to provide who used their services and when that happened.
Wired, on the other hand, focused on the positive aspects of Bitcoin and prepared an article explaining why the Bitcoin would be warmly welcomed in developing countries. According to the magazine, modern societies have many online payment options and therefore the digital currency doesn’t seem so attractive to the masses. However, developing countries such as Nigeria would benefit a lot if their citizens start using the innovative technology.
As proof, the author provides statistics showing that 17.5 million Nigerians used informal channels to sent money and 26.3 million received money during a 6-month period in 2014. Imagine if they were making Bitcoin transaction instead?
Bitcoin Remained Over $370 Mark
Even though the days of staggering highs seem to be behind the Bitcoin, at least for now, we find it positive that the cryptocurrency found strength to remain over $370. The current trading price of the currency is $372.61, which is slightly lower than Monday’s $375.
The day opened with $374.82 and ever since the price has been moving up and down for two or three points. The sharpest drop was noticed early in the morning, when a single Bitcoin was valued $371.63. For now, the day’s high is $375.27.
The volatility has fallen to 58.08%, while the 24-hour volume dropped at $37,749,900. These might announce another Bitcoin price drop in the days to come. The market cap is fixed at $5.67 billion i.e. this segment noted a decrease too. The change, however, the Bitcoin has made in the past 24 hours is positive, yet minimal, 0.03%.
With constant price drops and almost zero positive news, it’s not surprising to see that both mobbing averages and technical indicators are sending a strong sell signal. A total of 12 moving averages and six indicators recommend traders to sell their coins, while the STOCHRSI and the CCI warn that the cryptocurrency is being oversold.