Technical reasons for Bitcoin’s recent price drop, are exchanges ready for new EU regulations? And Fidelity expands crypto business to Europe
We proudly present to you today’s official Crypto2Cash Chronicle
Important and market moving news
18–12–2019
Technical reasons for Bitcoin’s recent price drop
Let’s take a look at several technical reasons why BTC/USD is now eyeing a new 7-month low:
- As mentioned by Cointelegraph, Bitcoin is bearish on multiple timeframes. Moreover, yesterday’s downside move produced a bear cross on the monthly MACD.
- Furthermore, the monthly MACD histogram flipped negative, suggesting that further downside could be in store for Bitcoin.
- Another disconcerting sign is a bearish cross between the 100-day and 200-day moving average:
Are exchanges ready for new EU crypto regulations?
Exchanges must achieve compliance with the rules of AMLD5 by January 10, 2020, but are they ready?
The current outlook is a bit of a mixed bag. U.S.-based exchanges that also operate in Europe, have already done their homework. But, some businesses probably aren’t as prepared as they need to be.
One of the major issues is a lot of divergence from country to country in terms of how they will actually carry out AMLD5 regulation. Accordingly, some businesses may not be prepared to ensure they are compliant in every single country across the EU.
Fidelity to expand crypto business to Europe
One of the world’s largest asset managers, is setting up a new entity to serve European institutional investors in digital assets.
It will now provide European digital assets investors such as hedge funds, family offices and market intermediaries with these services.
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