Does Bitcoin Need More Regulation?

Welcome to your daily Block Explorer roundup. Hope you had a great weekend! Today we’re looking at bitcoin regulation as Coinbase’s UK CEO claims we need more. But first, let’s take a glance at the markets.

All the top 20 coins are in the green today after a fairly quiet weekend.

1. Bitcoin – $6715 (+ 0.7%)
2. Ethereum – $277 (+ 1%)
3. Ripple XRP – $0.33 (+ 1.8%)

Things are strangely calm out there at the moment. In fact, bitcoin is around the least volatile it’s been all year. Historically, a period of calm is usually snapped by a wild swing upward or downward, so don’t be surprised if we see some big price movements this week.

Biggest winner and loser in the top 20

IOTA crypto logo transparent background

Biggest winner: IOTA (+ 15%)
Biggest loser: Zcash (- 0.1%)

IOTA is leading the pack today after Fujitsu said it is “well-equipped to help roll out IOTA as the new protocol standard.” IOTA aims to facilitate the ‘internet-of-things’ using blockchain technology, so a partnership with IT giant, Fujitsu, will open a lot of doors.

Does crypto need more regulation?

“[Regulation] is the best way to provide individuals and institutions a safe environment to invest.”

That’s the verdict from UK Coinbase CEO, Zeeshan Feroz. He told CCN that regulation is a good thing for the cryptocurrency market in 2018, explaining that a lack of regulation leads to risk in the market.

“We see the value in having some form of regulation for crypto exchanges as a means of ensuring due diligence and transparency in the crypto space.”

The issue of regulation in crypto is a controversial one. Many claim it will bring transparency to the market (and allow institutional investors to wade in). Others, however, see it as destroying the values and decentralized ethos on which bitcoin was built.

Where do you stand on bitcoin regulation? Do we need more to help attract  investors? Or should we keep bitcoin as decentralized as possible? Let me know in the comment section below.

Wild bitcoin price predictions 2018: from $3,000 to $20,000 +

Over the weekend we’ve had yet more wild price predictions for bitcoin.

The bull: Tom Lee of Fundstrat Global Advisors doubled down on his previous prediction that bitcoin will rise above $20,000 by the year-end.

He says hedge funds are playing a bigger role in bitcoin behind the scenes which could lead to a surge in prices. He also pointed to the correlation between bitcoin and emerging market stocks.

The bear: Anthony Pompliano had originally predicted a $50,000 price tag by the end of 2018. He now says he was wrong, by about four years.

He sees bitcoin plunging to $3,000 and says the market might not bottom out until late 2019. As for a full recovery, that’s not on the cards until 2023, based on how long it took bitcoin to recover from previous spikes.

With four months left in the year, where do you see the price of bitcoin going? $3,000 or $20,000+?

That’s all for today’s roundup. We’ll see you back here tomorrow.

In case you missed it: Why do Bitcoin ETFs Keep Getting Rejected?

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Ben Brown

Editor, Block Explorer News

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