- Australian Bitcoin adoption increases after some regulatory amendments
- A possible trade opportunity may occur on Dash (DSHUSD)
- RBC’s CEO has “real concerns” about Bitcoin (BTCUSD on xStation5) but he abstains from calling the cryptocurrency a fraud
The beginning of the week has been remarkably benign in terms of the cryptocurrency market as all the most important digital currencies have been on the sidelines so far. Irrespective of that calm we’ve gotten some promising reports from Australia where the local government has sought recently to amend its Bitcoin regulations which were previously notoriously unfavorable to businesses and individuals. That a move could be seen as a sign that the Australian authorities are still interested in using and adopting the most famous virtual currency.
Let us recall that Australia ended its notorious double taxation regime for Bitcoin in July ushering in new legislation recognizing Bitcoin as a legitimate means of payment. Furthermore, it’s worth underlining that Bitcoin’s usage in Australia has been in a continued uptrend. According to the chief executive of Sydney based Bitcoin exchange his exchange is getting between 100 and 200 new users every day and the company is now handling up to 4 million AUD daily.
Technically Dash could constitute an interesting trade opportunity once the price manages to stay above $280 which seems to be an important level to watch. If so, we could anticipate a bounce towards a descending trend line or even higher, anyway $350 may be a hard hurdle to jump over.
Otherwise, CEO of Royal Bank of Canada David McKay has shared his view regarding Bitcoin expressing some “real concerns” which it could bring about but he has been far from hard critics unlike JP Morgan’s Jamie Dimon who called Bitcoin “a fraud”. McKay added that he would never call it a fraud because it’s not misrepresenting what it is. He also referred to some real concerns about how Bitcoin is being used and those concerns have to be resolved.
Other new related to cryptocurrencies:
- Wikileaks founder Julian Assange claims his organization has made a 50,000% return on Bitcoin after investing in 2010 as the US government pushed companies like MasterCard to block payments.