Daily Crypto NewsEDITION #35, 25 September 2020

Europe welcomes crypto

Hey #Moni Maker 🤙

Today, in 1926, Anthony Stafford Beer, a bright figure in cybernetics was born. And even though the creation of the Internet, and even more so of Bitcoin was out of the picture that time, his contribution to the emergence of cryptocurrencies is undeniable. You see, crypto is incredibly complex and is based on the whole range of exact and even human sciences. Everything from physics to sociology is involved here, and cybernetics is quite high up this list. Moreover, each of us daily contributes to the development of the crypto! Keep it up, develop yourself and grow with us, let's leave our footprint in history! Maybe a century from now we'll be mentioned in some cool digest too 😎.

Let’s go!

Can you smell this?... This is what mass adoption smells like:)

The European Commission in cooperation with the European Blockchain Partnership (EBP) organization plans to launch a pan-European regulatory "sandbox" in the field of blockchain by 2022.

The document came out massive, as big as 168 pages. The authors advocate a "sound legal framework" that would define the regulation of cryptographic currencies.

“This proposal, which covers crypto-assets falling outside existing EU financial services legislation, as well as e-money tokens, has four general and related objectives. The first objective is one of legal certainty. For crypto-asset markets to develop within the EU, there is a need for a sound legal framework, clearly defining the regulatory treatment of all crypto-assets that are not covered by existing financial services legislation. The second objective is to support innovation.” – the quote from the doc.

So what?

The only surprise here is that it took Europe so long to roll out some legislative docs. Even Iran is already looking at Bitcoin with eyes filled with love.

Don't worry about your country if crypto is banned in your jurisdiction. Sooner or later this wave will spread out all over the world, we just need to wait a little.

If you're sad about the market painted red, we'll cheer you up.

Guys from @Mirai_team (🇷🇺) shared their opinion on BTC/USDT pair:

"It's not that bad.I remember during the downtrend we were expecting to break through the global triangle upwards and hike to at least $12k-$14k. Well, the break through happened and what do you guys think, the price must surge without ever correcting? The market is breathing, the market is rising and falling.What I see more when I take a step back now: a break through the global dynamic resistance, its retest and a rebound. Now the price is dancing around the horizontal support (green). If the bulls are strong, the price will hold on to this support. If there is some uncertainty, we can slowly slide down towards the blue dynamic support.We can talk about the bears' victory, global downtrend and full reversal only when the price dives back below the blue dynamics.”

You can see all the details and the chart by following this link.

So what?

Rises and falls are the breath of the market, try only exhaling or only inhaling. It’s crazy, isn’t it?

Of course, it's a pity that I (you) didn't have time to sell a couple of hundreds of bitcoins high up, but profit will come to the patient ones!

Our lovely dear BTC is growing. And if in 2017 its realized capitalization was $43 billion, now it is $115 billion!

Glossary time

Realized capitalization is a variation of market capitalization which values each UTXO based on the price when it was last moved, as opposed to its current value. As such, it represents the realized value of all the coins in the network, as opposed to their market value.

So what?

Roughly speaking, the higher the realized capitalization is, the higher the demand for Bitcoin and the bigger (expensive) it get.