Breaking News from Crypto Business World (CBW) – June 6, 2020
Cryptocurrency News for Today June 6
Bitcoin May Accelerate Decline To $ 6,000
IOTA updated protocol and accelerated performance 20x
Bitcoin companies develop social initiatives
The bitcoin rate has hardly changed since Friday. The first cryptocurrency still sits in a range limited by the $ 9400- $ 9800 levels amid low trading activity. Meanwhile, some technical analysts say that BTC is more likely to test $ 6,000 rather than return to $ 10,000. In addition to technical factors, fundamental ones also interfere. For example, according to the head of the American division of Binance, regulation hinders the spread of digital currencies. Interesting events are also taking place in the world of altcoins. For example, IOTA released an update, however, unlike Cardano, this news could not accelerate it..
Read about the situation in the cryptocurrency market, as well as about the key events that have occurred in the cryptocurrency industry over the past day, in our daily digest..
Bitcoin for good deeds: more and more companies support social initiatives
Most recently, the founder of the social networking site FacebookIn June 2019, Facebook announced preparations for the release of the digital currency Libra. The social networking project immediately attracted the attention of … More and the stablecoin LibraIn June 2019, Facebook announced preparations for the release of the Libra digital currency. The social networking project immediately attracted attention … More Mark Zuckerberg announced that he is ready to donate $ 10 million to organizations that fight against racial discrimination. This step was prompted by the recent events in Minnesota, where an African American George Floyd was killed by police officers. Other crypto companies supported the social initiative and spoke out against racism. BeInCrypto has collected the top 5 social projects that crypto companies implement. More details
SEC froze assets of Modern Money Team for $ 12 million
The US Securities Commission announced that the assets of a multi-tiered marketing company that provided services for trading in the FOREX markets, as well as cryptocurrency mining, were frozen. Officials accuse organizers of money laundering and misuse of investments. More details
The IOTA network has an update, now transactions are processed 20 times faster
The team released the first Hornet Node software update as part of a massive program to improve performance and user experience. The IOTA Foundation, a not-for-profit organization specializing in distributed ledger technology (DLT), Distributed Ledger Technology (DLT) is an electronic database system distributed across multiple network nodes or … More) and open source application development, together with the IOTA community announced the release of Hornet, a new version of the node software. More details
Bitcoin: Wyckoff Method Promises Price Fall Towards $ 6,000
The bearish Wyckoff pattern that we are likely seeing on the chart could be constrained by resistance and support at $ 10,000 and $ 8,500, respectively. This pattern initially began with the Buying Climax phase, when Bitcoin peaked at $ 10,074 on May 7th. This was followed by aggressive selling under the Automatic Response. The price dropped to a low of $ 8109, but then began to rise rapidly again and recovered above $ 8500. More details
Regulations Hinder Mass Adoption of Cryptocurrencies – Binance CEO Says
Overregulation and imposed methods restrict equitable use and hinder the mass adoption of cryptocurrencies, according to Binance. The issue of user identification and the introduction of control over the circulation of cryptocurrencies at the protocol level may threaten the freedoms and equality in the crypto community. More details
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