The halving event nears and the Bitcoin isn’t really acting as it should. In about four days the supply of the world’s most popular cryptocurrency will be decreased and that’s a reason for its value to grow. However, the Bitcoin is constantly moving up and down the $670 mark, without showing any apparent intention to maybe breach the $700 threshold and even head towards the long-awaited $1,000.
There aren’t even enough Bitcoin-related events and it seems that the cryptoccurency is on a vacation. Two articles that caught our attention, however, involve fighting against using Bitcoin in online child pornography and tighter controls for the currency in EU.
Elliptic and Internet Watch Foundation Partner to Clamp Down Bitcoin Use in Child Pornography
So, we all know that aside from being used for positive things such as making Bitcoin donations, the cryptocurrency is also used for money laundering, funding terrorist groups and ransom money. Unfortunately, controlling and stopping this from happening is pretty hard and still moves slowly; therefore, it’s always good news when someone decides to prevent such things from happening. The latest partnership between London-based Bitcoin start-up Elliptic and the Internet Watch Foundation was founded in order to clamp down Bitcoin use in child pornography.
In a separate event, the European Commission has proposed expanding its anti-money-laundering rules so they cover virtual currencies and prepaid cards. According to information provided yesterday, the Paris attacks and the Panama Papers revealed the need of tighter controls that will help authorities to track down people who try to commit crimes or hide their finances. These changes shouldn’t worry regular users of the Bitcoin, but they should make it, at least, harder for criminals to misuse and ruin the reputation of the cryptocurrency.
Future Price Movement is a Mystery
There are times when it’s more than obvious where the Bitcoin will head next. Similarly, there are times, like today, when the future price movement of the cryptocurrency is a real mystery. This time we would like to start with the indicators’ signal, which suggests the value per coin will drop. Nonetheless, if you pay closer attention you’ll notice that only three indicators are sending a sell signal, whereas seven are neural and one is pro-buy. Therefore, this signal can’t be really taken into account. Additionally, seven out of 12 moving averages predict the price will grow.
Generally speaking, the price has improved for 0.08% in the past 24 hours, but on the long run (since 3rd of July) it noted a drastic drop. The current trading price on our chart is $671.63, whereas three days ago the value per coin was much higher $697.09. The day’s high is $673.59 and the day’s low is $659.55.
Other relevant information, as usual, includes the market cap and the volume. The first one succeeds to remain over the $10 billion threshold ($10.62 billion) for quite some time now, whereas the latter constantly moves around $132,531,000. Neither of them gives a clear indication whether the price will grow or fall; hence, all we can do is wait and see what will 10th of July bring us.