Crypto News – 24 July – More trouble for Facebook’s Libra, Bitcoin falls below key indicator and more
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Crypto News – 24 July
Bitcoin has evolved from the dark web and the silk road, to become an asset around the world
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With the previous hearing focusing on Libra in specific, the lack of a firm understanding of digital assets and their effect on monetary policy was quite evident.
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Bitcoin dropped to its four-figure mark for the second time in a week, with the collective market struggling.
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According to the project’s tweet, users can upload data of any size to the blockchain, data that would “exist forever to be downloaded.”
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This massive price fluctuation has resulted in the coin not only going back to a four-figure valuation, but also slip past a key indicator.
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In times of global instability, the demand for alternative assets, including Bitcoin, is speculated to go up drastically.
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However, over the last few months, the cryptospace has grown in terms of receiving validation from major officials.
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However, people are stuck debating if Bitcoin is a store of value or a medium of transfer.
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Soon after the trading volume report came out, crypto-exchanges came under extensive scrutiny.
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Dash will launch an Evolution project later this year, a project through which the company will look into Bitcoin and cryptocurrencies’ adoption deficiencies.
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However, considering the amount of progress that has been accomplished right now versus 2016, ETH doesn’t quantify the price.
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The Libra hearing and the involvement of U.S. government officials did not play particularly well in favor of Bitcoin.
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Source: ambcrypto.com
