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THE UMPTEENTH SINK OF BITCOIN AND OTHER CRYPTOCURRENCIES THE UMPTEENTH SINK OF BITCOIN AND OTHER CRYPTOCURRENCIES
The cryptocurrencies this week have been quite unstable, while a new cryptocurrency enters the market, the Bitcoin suffered and Microsoft joins the list of... THE UMPTEENTH SINK OF BITCOIN AND OTHER CRYPTOCURRENCIES

The cryptocurrencies this week have been quite unstable, while a new cryptocurrency enters the
market, the Bitcoin suffered and Microsoft joins the list of companies that banned advertising on
such currencies.

BITCOIN UNDER $ 8.000
On Friday, the price of Bitcoin has returned to trade below the threshold of $8.000, before sinking
up to $7.700 and then trying to recover the new lows of the day.
The fall pushed the listing of the BTC / USD even lower and the most famous cryptocurrency in the
world has tried in every way to put a brake on sales.
It seems that long-awaited Coindesk Consensus Conference, an event held this week in
Washington, did not have the expected effect on either the Bitcoin price or the price of other
cryptocurrencies.
At the beginning of the week, blockchain experts, scholars and investors have looked hopefully at
this event because in previous editions the Consensus Conference has always managed to
support the price of Bitcoin, but this time it did not go this way.
Someone attributed the decline of the listing to the different opinions that emerged during the
summit. The opinion of James Bullard, president of the Fed of St. Louis, was the hardest attesting
that the cryptocurrencies will never be "main currencies,” since they are too many and they
exchange on totally different price levels.

MICROSOFT SAY NO
To contribute to the Bitcoin rebates was also the latest decision by Microsoft that announced its
intention to impose a ban on advertising related to cryptocurrencies and ICO, a ban that will affect
its favorite search engine, i.e. Bing. All in the wake of what has already been accomplished by
Google, Facebook and Twitter. The ban will take effect between the end of June and the beginning
of July.
Microsoft has justified its choice by defining the cryptocurrencies tools not yet regulated and
therefore unsafe for users who, in turn, could end up in the sights of unscrupulous people ready to
cheat them.
At the time of writing, the price of Bitcoin was again attempting to recover ground by trading 4%
down on $8.200. The same situation has also arisen for the entire cryptocurrency industry.

A BANK AND HER FIRST TOKEN
According to rumors, Mitsubishi UFJ Financial Group, the fifth largest bank in the world, could soon
bring in the market a new cryptocurrency (MUFG Coin) soon in 2019. The bank had anticipated its
intention to launch a first token in January, a move that would have allowed her immediately to
become the first Japanese credit institution to issue digital assets by diving into the cryptocurrency
industry.
The bank would already be considering the possibility of establishing some partnerships in order to
guarantee an initial basis for testing and subsequent acceptance of cryptocurrency.
In fact, the phase of emission of the cryptocurrency will be preceded by analysis and testing.
Customers who choose to participate will download an application through which convert their
deposits.
The cryptocurrency will allow to make transactions from one account to another, as well as
payments in common places such as restaurants, small shops and all businesses. The value of
each unit of this token will correspond to that of a single yen.
The entry of the new coin, which will be used at the beginning only in some stores and only in
Japan, will probably not shake the trend of the virtual market. Yet the birth of a new cryptocurrency
by the hands of a bank, could turn out to be a fundamental precedent for a broader acceptance of
the virtual phenomenon, even by financial institutions.

 

 

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