Bitcoin’s Growth in the U.K. Continues to Be Stifled by Banks
Banks in the United Kingdom are turning a deaf ear to bitcoin exchanges, despite the government’s pro-blockchain position, according to financial writer Roger Aitken, writing in Forbes. Unless the situation changes, the banks will undermine bitcoin’s progress and drive cryptocurrency entrepreneurs out of the banking system. Cryptopay, a bitcoin brokerage, recently informed customers that it will no longer support British Pound deposits and withdrawals on account of new bank policies. Such incidents have increased as bitcoin has gained popularity. Cancellation of GBP deposit and withdrawal....
Related News
Bitcoin’s first decade was marked by considerable growth. The advent of decentralized finance (DeFI) could do the same for its next ten years. The post Following One Decade Of Growth, DeFi Could Guide Bitcoin’s Next appeared first on Bitcoin Magazine.
Bitcoin continues to slowly push to the upside reaching new yearly highs once again over the weekend, defying the logic of many traders. The bears simply cannot get their claws into the market for the time being, despite severely overbought technicals in what is still a heavy resistance zone. Bitcoin remains embroiled in political infighting over block size, as has become the norm for Bitcoin over the past few years, and the current state of the shorter term technicals do not instill all that much bullish confidence at this time. Having said that, we think the main reason that the market....
Bitcoin doesn’t care. It continues to develop a monetary, financial, economic, intellectual, and social ecosystem around itself. But a pair of reports in the mainstream media makes Bitcoin look broken. Arguing with the messenger is an option. But the better path is to get on with the hard work of fixing up Bitcoin in perception and reality. Unfair? Perhaps. A Planet Money podcast finding that Bitcoin wouldn’t relay a simple transaction appears to have been conducted on software that didn’t supply the fee required under current conditions. In light of such reports, new users may hesitate to....
Bitcoin’s upward trend continues. Will this movement reach the $450 mark and set a new maximum? Will the price reach 450? Bitcoin’s price failed to fortify at the key level of $417.5, hence the upward trend continues. After a failed fortification and absence of a turn to decline, there is only one option, and that is for the trend to keep going up. If Bitcoin’s price continues following its current trend, the next target will be at $445-50. The critical rebound line is at $422, where the largest trading volume has accumulated. The $422 mark is the probable peak of a rebound. But if....
The upward dynamic continues on Bitcoin. If the structure of that movement isn’t disrupted, it is likely to grow into a medium-term upward trend. Where might the structure of the upward trend be disrupted? After fortifying at a medium-term resistance line, Bitcoin’s price has undergone a turn to growth. The level of $450.5 could’ve become the peak of a correction preceding a downward trend, but the bears were a minority. Bitcoin’s price is now close to a significant resistance line, where long-term bears could activate and win the advantage. That’s why it’s important to monitor the....