Cryptocurrency Market Report June 27

The market is red again

The market falls back after two days in green terrain. Bitcoin falls over 2% and approaches $ 6000 again. At the time of writing, the price is $ 6130.

The total market value has fallen about $ 10 billion in the last 24 hours and is currently $ 244 billion.

Bitcoin dominance increases again

Bitcoin’s market share is rising again, as we have previously seen when the market is falling. Today, dominance is close to 43%, as opposed to the transition between April and May when the market was on the rise and dominance was 30%.

Bitcoin is less volatile than the many small currencies and several prefer to own Bitcoin in recession. The road is short back to the other currencies as soon as the market shows signs of turning.

Facebook letter on advertising ban

Facebook has updated its rules and now allows the promotion of cryptocurrency, but maintains the ban on advertising of ICOs.

According to a recent statement from the company, it is stated the following:

“We will allow ads that promote cryptocurrency and related content from pre-approved advertisers, but we will still continue to ban ads that promotes binary options and ICO’s”.

In other words, not everyone who wants to advertise will be allowed to advertise and Facebook will maintain control over what sales content is coming out.

Source: Cointelegraph

People’s Bank of China is applying for a wallet patent

People’s Bank of China has submitted an application for a patent on a digital wallet.

The patents describe how the proposed digital wallet can be used to track / track transaction data in coordination with the issuer of a digital currency.

The wallet will have multi-signature security and will allow users to manage digital assets, such as existing encryption currencies, using private keys.

The patent is part of China’s central bank’s long-term vision of blockchain integration. China maintains its strict attitude to Bitcoin, but at the same time has conducted extensive investigations into the benefits of exploiting the underlying technology for its existing financial system.

Source: Cointelegraph

Bitcoin expert: Hegde funds sells Bitcoin

The Bitcoin expert Spencer Bogart has talked with CNBC and believes the Bitcoin case comes as a result of clients in different hedges wishing to withdraw their funds from the funds.

He says that if we go back to summer 2017, there were as many as 300 new crypto hedge funds that were created. These began to trade Bitcoin and the clients who deposited money had lock-up on their funds for up to 1 year.

Furthermore, he says that he believes the decline is temporary and insists that Bitcoin will increase to over $ 10,000 during the year.

Source: Cointelegraph