welcome back as and in this video we're
going to be going over today's
cryptocurrency news as well as some
stories that I wanted to cover regarding
a US leadership in regulation of the
cryptocurrency markets
so getting into today's video want to
start off as we normally do with the
overall market movements so as we can
see here on corn market cap overall a
bit of a read day not too bad though
just a bit of a trace mint from some of
the growth that we've been seeing over
the past week or two we can see Bitcoin
stabilizing around 6600 aetherium around
20 230 and x RP ripple for those of you
guys who don't know at a bit of a surge
last week up to about 75 cents and is
now resting at about 52 cents so the
rest of the market not too bad either of
course everything correlates mostly
Bitcoin as all you guys know so across
the market mostly red figures but
overall doing pretty well starting to
see some nice slow and steady growth
which is what we've been looking for
over the past few months from
cryptocurrency that we really haven't
seen times before this so as you can see
we can really see that slow and steady
growth that we've been seeing over the
past few months that we really have not
seen in cryptocurrency before this you
guys have been you know everybody's been
used to this exponential growth or
exponential decline and I think it's a
good thing that we're starting to see
slow and steady which I think long term
will be healthy for this market so
looking at the current fundamentals and
technicals of this market Bitcoin is
currently doing a lot better than I
would have expected it to do for those
of you guys who don't know the etf
decision that was supposed to be on
september 30th
actually got delayed until december so
we have some waiting to do for that but
that did get postponed pretty recently
and we did not have the price drop that
I was expecting we dropped from about
6500 down to 6,000 and then continued to
grow over the past few days up to about
6,800 topped out at about that level and
have since then retraced to about 6,600
where we're currently trading at 66 28
so
what do I see currently with the
technical side of Bitcoin well as you
can see here from the daily we are
getting some momentum on the top side of
the MACD as you can see here but what I
will say is that we are starting to see
some sort of resistance at about sixty
seven sixty eight hundred that we have
fallen back from currently we are
bouncing off of the twenty five day
moving average on the daily as we can
see right here that that dark blue line
that we're starting to bounce off at but
what I'm expecting to happen is if we
can bounce off there and push even
higher and break the overall resistance
that we've had from this long term wedge
from Bitcoin I do believe we can start
to get more of a longer-term growth
perspective from Bitcoin rather than
just dropping through the floor however
I will say on both the for our the for
our does not look too good for Bitcoin
however it doesn't look as bad as it did
actually a little bit a little bit ago
when I checked this morning but the
daily overall does look a little bit in
no-man's land so currently I'm mostly
focused on waiting for a larger move
from Bitcoin and what I would recommend
to everybody else before you make any
decisions on trading so that is the
overall analysis for Bitcoin today
regarding aetherium this is a coin that
I've been watching a ton but aetherium
is currently at the top of its overall
downtrend right now as we can see here
as well as there is still some volume on
the daily like we just talked about with
Bitcoin but we will have to see like I
said for a larger move from some of the
top players in the market before I can
be clear on what is going to happen but
jumping into some of the stories I
wanted to talk about today I wanted to
talk about US regulation in crypto
currency markets so this little story
here says the US should take a
leadership role on blockchain IBM report
argues so developers and companies
researching blockchain technology are
looking to the US government to help
spur adoption written by Thomas Hardy
jono director of MIT trust Data
consortium the report summarizes the
results of a series of roundtable
meetings held by the congressional block
shink
Congress a group of lawmakers in the US
Congress who advocate for the tech in
2017 and 2018 the meetings were
spearheaded by representatives David
Schwartz where Kurt and jared Polis if
you guys are watching this video I'm
sorry from his parents he names and
aimed to understand potential use cases
for blockchain as well as accelerate use
cases of the tech according to the
report specifically the three meetings
each had a different focus digital
identity payments and supply chain and
provenance the report explained that
strong industry consensus exists around
the belief that blockchain technology
will be the leading edge of next
internet economy so I think overall
we're really starting to see it it
really affirmed in just in general that
this technology is agreed upon as being
some sort of the future for the Internet
okay I think it's overall we're really
starting to see more of an agreement
from not only regulators but people in
general that this technology is here to
stay it's not like in the internet
bubble where people were saying oh this
internet thing's a fad I think this is
starting to really set into people's
minds that this technology is here to
stay so what can we do to make sure that
you know we integrate when it's ready to
be integrated and that everything goes
smoothly and we don't have something
happen like the internet you know the
internet bubble as well as what happened
when that crash did happen although we
have kind of already had a pretty big
pretty bad crash similar to the internet
bubble but continuing on it is
imperative that government and industry
work together to continue in strength
and technological and market leadership
in this new era area and to address
potential policy and regulatory
incompatibility that may constrain
growth of emerging digital blockchain
economy so as as such each meetings
goals were to better explain use cases
find common interests speed up the
deployment of technology established
what might prevent adoption and five
components which may be used across
businesses or industries so I really
love this article I would ask you guys
to all go and check it out over on coin
desk I'm not going to read
the whole thing just because I don't
want to you know that's not really what
we do usually here but basically just
goes a little bit more into how the
meeting went at the u.s. congressional
hearing for the blocks and I forgot what
the what was called in of the
Congressional blockchain Congress this
meeting that how it went a little bit
more how when so if you guys are
interested in that and go ahead and
check that out but what I really wanted
to focus on in this video is this right
here
US congressman to introduce bill
supporting blockchain technology and
crypto currencies so US Rep Tom Emmer is
planning to introduce three bills to
support blockchain technology in crypto
currencies according to a press release
published September 21st the three
upcoming bills are entitled the
resolution supporting digital currencies
and blockchain technology the blockchain
regulatory certainty Act in the safe
harbor for taxpayers with forked assets
Act so the legislation is focused on the
support and development of blockchain
technology as well as the establishment
of a safe harbor for taxpayers with
forked digital assets so this part right
here I'm very excited for looks like
it's getting a little bit more into the
taxes on cryptocurrency but overall just
seeing regulation in general people
actually working towards regulating this
market instead of just avoiding it and
delaying it as we saw with the ETF I
think is more healthy alternative
instead of just saying you know we're
not ready yet at least giving it a go
pushing some regulation out there coming
up with some ideas is good to see that
clearly the government is working
towards some type of regulation with
this space the bills would prompt the
federal government to provide a simple
legal environment and restrict fines
against individuals who report Forked as
digital assets until the internal
revenue service presents formal guidance
on the appropriate means of reporting
according to Emmer
taxpayers can only comply with the law
when the law is clear the representative
further commented on the initiative the
United States should prioritize
accelerating the development of
blockchain technology and create an
environment that enables the American
private sector to lead an innovation and
further growth which is why I'm
introducing these bills so again you
guys can get in
to be a little bit more of the detail in
this article but basically coming out
and saying that he does feel we need to
accelerate the development of this space
and also the big thing with taxes for me
is get the law you know allow the law to
be clear before we find people or ask
people to you know pay taxes in a
certain way if the law is not clear then
you know how are we going to comply with
the law is something that I really like
from that little blurb there so that is
all those are all the stories that I
have today I wanted to get from you guys
what do you guys think about US
regulation do you think it's a good
thing do you think it's a bad thing
because of course this is the whole idea
of cryptocurrency is decentralisation
how do you guys think the government
should get involved how do you think
they should get involved and what do you
guys think specifically about the you
know these two stories right here but
mostly about these bills about the taxes
or as well as the development of
blockchain technologies so leave all
your thoughts and in the comment section
below and we can host a little bit of a
discussion on these but besides that for
those of you guys who are not already
make sure to click that subscribe button
as we put out videos every single day on
cryptocurrency and trading as well so if
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go ahead and subscribe and I will see
you guys tomorrow
for another video happy going guys
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