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Microstrategy Received $1.6 Billion in Orders For Their Bitcoin Offering

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Microstrategy has increased its offering to $500 million just a day after it announced a $400 million offering to buy bitcoin. According to Bloomberg citing unnamed people familiar with the…

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Thailand Bans Meme Coins and NFT Trading in New Regulation

The Securities and Exchange Commission (SEC) of Thailand has announced banning meme, exchange-issued, and non-fungible tokens or NFT.

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The Securities and Exchange Commission (SEC) of Thailand and its Board of Directors have approved new rules governing digital asset platforms. From now on, crypto exchanges can no longer trade meme-based tokens, non-fungible tokens (NFTs), and exchange-issued tokens in the country.

Thailand Bans NFT, Digital Exchange, & Meme Tokens Trading

Thailand’s Securities and Exchange Commission (SEC) has announced banning meme tokens, exchange-issued tokens, and non-fungible tokens (NFTs). Last week, crypto exchanges were ordered to delist the coins, along with NFTs, utility tokens, and social tokens, within 30 days.

Per the SEC, “This new regulatory guideline aims to enhance protection of digital asset traders’ interest.”

Even though, the regulatory agency did not specify the exact coins, meme-based cryptocurrencies, like Dogecoin (DOGE) and Shiba Inu coin (SHIB) are likely to be affected.

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The Thai SEC defines meme tokens as those which have “no clear objective or substance or underlying (value),” and whose price relies on social media trends.

According to the SEC, the new rules are aimed at protecting traders from tokens that have “no clear objective or substance” and whose prices are influenced by social media trends and influencers.

The ban also prohibits exchanges from listing non-fungible tokens. Notably, the SEC is not banning the issuance of NFTs but only banning the trading of these digital assets.

In addition, the Thai SEC also announced banning exchange tokens issued by crypto exchanges that cut transaction fees for those who hold them,

Exchanges Have 30 Days to comply With the New Regulation

The exchanges are required to comply and revise their listing rules in accordance with the Notification within 30 days from the effective date thereof.

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The regulators warned that token issuers failing to comply with their white papers and relevant rules risk having their tokens delisted from the exchange, noting that “After publication in the Government Gazette, the Notification has become effective from 11 June 2021 onwards without retrospective effect.”

Earlier this month, the SEC announced its intentions to further regulate crypto by stating  “The issuance of digital tokens must be authorized and overseen by the Securities and Exchange Commission.”

#Cryptocurrency Regulation #MEME Tokens #NFT #Thailand SEC

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/thailand-bans-meme-coins-and-nft-trading-in-new-regulation

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Bitcoin price bottom is in, says Fidelity exec as crypto market exits ‘extreme fear’

Macro comparisons suggest that there’s no more room for dips on BTC/USD, suggests Jurrien Timmer.

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Bitcoin (BTC) has already hit its price bottom, one of the industry’s top executives believes as BTC price action stays above $40,000.

In a tweet on June 14, Jurrien Timmer, director of global macro at U.S. multinational financial services corporation Fidelity Investments, called time on any further Bitcoin price dips.

Bitcoin bulls increase confidence

BTC/USD maintained higher levels overnight on Monday after surging through $40,000 resistance. Despite not yet fulfilling traders’ predictions of a $47,000 push, the mood has become broadly positive on the back of fresh high-profile praise from the likes of Elon Musk and Paul Tudor Jones.

For Timmer, the time has come to look higher, not lower, when it comes to charting Bitcoin’s next move.

“In my view, it looks like the bottom is in,” he summarized.

Timmer uploaded a chart comparing BTC/USD with the GS Retail favorites basket, a relationship which highlights similar local bottom formations.

GS Retail favorites basket vs. BTC/USD chart. Source: Jurrien Timmer/ Twitter

Fidelity has increased its Bitcoin activities in recent times, releasing a dedicated analytics platform and even applying to launch an exchange-traded fund (ETF). U.S. regulators began scrutinizing the application in late May.

Fear & Greed ditches the emotion

Meanwhile, another aspect of cryptocurrency which is back near 40 is the Crypto Fear & Greed Index — a classic sentiment gauge adding to the bullish mood.

Related: A Bitcoin indicator with a ‘perfect’ history just told you to buy the dip

After hitting its lowest in more than a year in recent week, Fear & Greed has rebounded to 38/100 — approaching neutral territory.

The Index uses a basket of sentiment measures to determine whether traders are overly bullish or bearish at a certain price, and therefore whether tokens are oversold or conversely due for a sell-off.

Crypto Fear & Greed Index as of June 15. Source: Alternative.me

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/bitcoin-price-bottom-is-in-says-fidelity-exec-as-crypto-market-exits-extreme-fear

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Cryptocurrency Market Drops 4% in 7 Days as Bitcoin Surges 8%

In the past 7 days, the entire digital currency market managed to dip from $1.662 trillion to $1.603T, indicating a sharp fall of about 4.06%. The 7d prices of all the top 5 out of 50 tokens in the world are trading in the red. Nevertheless, the largest coin by market cap managed to surge by about 8% in one week.

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Jun 15, 2021 at 08:28 // News

Some coins faced the roughness of the market

In the past 7 days, the entire digital currency market managed to dip from $1.662 trillion to $1.603T, indicating a sharp fall of about 4.06%. The 7d prices of all the top 5 out of 50 tokens in the world are trading in the red. Nevertheless, the largest coin by market cap managed to surge by about 8% in one week.

In the last month (since May 12), the entire cryptocurrency market capitalisation has lost by over $943 billion, representing a decline of over 37%, meaning that the market needs to multiply by about 1.6 times if it is to match the figures it recorded 30 days ago. According to the data by TradingView, the entire market cap is standing at about $1.599T, which simply shows that the crypto market is in complete turmoil.

Screenshot_2021-06-14_at_14-01-38_TOTAL_Index_Charts_and_Quotes_—_TradingView.png

For the last 7 days, some upcoming coins faced the roughness of the market. For example, the price of FinNexus (FNX, price of $0.06964, 24h volume of $655,535) dropped by over 93%, Kingdom Game 4.0 (KDG, $0.002982, $313,922) touched the ground by 90%, TriumphX (TRIX, $0.009026, $293,076) plummeted by about 79.3%, Crypto Village Accelerator (CVA, $0.0000001056, $85,755) declined by over 70.84% and LunaDoge (LOGE, <$0.00000001, $64,543) dived by over 65%, and many others.

Screenshot_2021-06-14_at_14-03-04_FinNexus_price_today,_FNX_live_marketcap,_chart,_and_info_CoinMarketCap.png

However, not all tokens performed bearishly in the market. We have seen cryptocurrencies that have gained dramatically. For instance, Amun Ether 3x Daily Short (ETH3S, price of $0.1142, 24h volume of $7,903,489) surged by over 532%, Litecash (CASH, $0.01684, $128,576) gained by over 214%, Save Planet Earth (SPE, $0.0000000684, $1,352,242) soared by over 212%, Aerdrop (AER, $0.000003795, $72,223) increased by over 202% and Streamr (DATA, $0.1905, $216,110,546) gained by more than 144%.

Screenshot_2021-06-14_at_13-57-49_Amun_Ether_3x_Daily_Short_price_today,_ETH3S_live_marketcap,_chart,_and_info_CoinMarketCap.png

Among the top 50 cryptocurrencies by market cap, it’s only the 7-day prices of Bitcoin (BTC), Wrapped Bitcoin (WBTC), Amp (AMP), Theta Fuel (TFUEL), UNUS SED LEO (LEO) and TerraUSD (UST) that are trading in green. The rest are facing it hot.

Screenshot_2021-06-14_at_13-54-47_Cryptocurrency_Prices,_Charts_And_Market_Capitalizations_CoinMarketCap.png

Top gainers and losers of the week

The 7d biggest gainer and loser among the top 50 coins is Amp and Bitcoin BEP2, respectively.

At press time, the price of Amp (AMP), the crypto in Rank #39 by MC, is sitting at about $0.06561 with a 7d gain of 41.47%, with a market cap of 2.77B and 24h volume of $43,431,341.

Screenshot_2021-06-14_at_13-52-54_Amp_price_today,_AMP_live_marketcap,_chart,_and_info_CoinMarketCap.png

Also, the current price of Bitcoin BEP2 (BTCB), the crypto in Rank #38 by MC, is sitting at nearly $0.1501 with a 7d drop of 100%, with a market cap of $10,977 and 24h volume of $5,772,632 (-19.27%).

Screenshot_2021-06-14_at_13-50-30_Bitcoin_BEP2_price_today,_BTCB_live_marketcap,_chart,_and_info_CoinMarketCap.png

The major reason why the prices of cryptocurrencies including Bitcoin are turbulently falling is because of the decision by social media platforms, China and Iran to ban cryptocurrency ads, mining and trading, and to no longer accept BTC as payment for its e-cars. Following the shock statement from Elon Musk, CEO of Tesla saying that Bitcoin and crypto mining is not environmentally friendly, there was an immediate visible impact on BTC’s value where it shrank by $6B and sent agitating shockwaves throughout the entire crypto asset market, and since then the market has never stabilized again. 

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinidol.com/cryptocurrency-market-lost-4/

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Ripple price analysis: Ripple rejects $0.90 resistance, prepares to move lower?

TL;DR Breakdown XRP rejected further upside overnight. $0.90 resistance still holds. Next support at $0.80. Ripple price analysis is bearish for today as a strong rejection for further upside was seen overnight. Therefore, we expect XRP/USD to move lower later today and try to retest the $0.80 support later this week. The overall market traded […]

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TL;DR Breakdown

  • XRP rejected further upside overnight.
  • $0.90 resistance still holds.
  • Next support at $0.80.

Ripple price analysis is bearish for today as a strong rejection for further upside was seen overnight. Therefore, we expect XRP/USD to move lower later today and try to retest the $0.80 support later this week.

Ripple price analysis: Ripple rejects $0.90 resistance, prepares to move lower? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with a bullish momentum over the last 24 hours. Bitcoin has increased by 3.46 percent, while Ethereum by 5.7 percent. Polkadot (DOT) is among the best performers with a gain of 16.5 percent.

Ripple price movement in the last 24 hours

XRP/USD trades with a market capitalization of $41.3 billion, ranking the cryptocurrency in 7th place overall. 24 hour trading volume has increased by almost 17 percent and totals $3.55 billion.

XRP/USD 4-hour chart – XRP retests the $0.90 mark

On the 4-hour chart, we can see the Ripple price rejecting further upside around $0.90 mark overnight as bears prepare for another push lower.

Ripple price analysis: Ripple rejects $0.90 resistance, prepares to move lower?
XRP/USD 4-hour chart. Source: TradingView

The overall Ripple price action sentiment is still bearish as a significant retracement was set over the past weeks from the last swing high of $1.10. After a brief retest of the $1.10 resistance on the 3rd of June, XRP/USD retraced 25 percent to the $0.80 support.

Over the weekend, the $0.80 mark was retested for the third time, indicating that bears have lost their momentum and we could see reversal this week. However, the $0.90 resistance was tested with a rejection overnight, indicating that the market is essentially trading sideways right now.

Therefore, before the trend direction for the remainder of the month can be set, Ripple has to break either above the $0.90 resistance or $0.80 support. Overnight we saw the $0.90 resistance tested again with a rejection, meaning that bears will take over later today and poush the market towards the $0.80 support again.

If the $0.80 support breaks, we can expect XRP/USD to move much lower later this week, with the next support located at the $0.64 mark. This would mean that the Ripple price action will continue being bearish over the next weeks.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bearish as further upside was rejected around the $0.90 mark overnight. This should lead to another retest of the $0.80 support later this week. If the $0.80 support breaks, the overall price action structure will turn even more bearish.

While waiting for further Ripple price action development, read our guides on Cardano staking, how to cash out Bitcoin, as well as how to buy Bitcoin stock.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/ripple-price-analysis-2021-06-15/

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