Bybit, a prominent cryptocurrency exchange, has announced its decision to cease operations in France due to recent regulatory developments. Effective August 2, 2024, Bybit will restrict all accounts held by French residents to a “Close-Only” mode, preventing new positions from being opened or new funds from being deposited. This move comes in response to the Autorité des Marchés Financiers (AMF), France’s financial regulator, which has been tightening its oversight of cryptocurrency platforms.
The AMF had previously blacklisted Bybit in 2022, citing the exchange’s failure to register as a Digital Asset Services Provider (DASP). This blacklisting has now culminated in Bybit’s decision to exit the French market. The exchange has instructed its French users to close all open positions and withdraw their assets by August 13, 2024, after which any remaining positions will be automatically liquidated.
Bybit’s departure from France highlights the increasing regulatory scrutiny faced by cryptocurrency exchanges in Europe. The AMF’s actions are part of a broader effort to curb illicit activities such as money laundering and to protect retail investors. Bybit has expressed its intention to return to the French market once it secures the necessary regulatory licenses.
This development is a significant blow to Bybit, which had recently surpassed Coinbase to become the world’s second-largest exchange by trading volume. The exchange’s exit from France underscores the challenges that cryptocurrency platforms face in navigating complex regulatory environments. As the industry continues to evolve, exchanges like Bybit will need to adapt to ensure compliance and maintain their market positions.
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BANK OF ENGLAND WILL SCRAMBLE TO BUY BITCOIN BEFORE IT HITS $1 MILLION PER BTC, SAYS MAX KEISER!!
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Bitcoin O.G. Max Keiser has said that the Bank of England (BoE) will scramble to buy Bitcoin before the digital asset trades at $1 million per BTC.
The host of the Keiser Report and Orange Pill Pod, Max Keiser responded to the Bank of England’s deputy governor’s recent warning about cryptocurrencies in a statement to Express.co.uk.
“Bitcoin is designed to trigger a meltdown of the current fiat money banking system. This is a mathematically guaranteed outcome.
The bargaining phase will be their central bank digital currency stage and when that fails comes depression as the price tops $500,000 and then acceptance with the Bank of England scrambling to buy Bitcoin before it tops $ 1million per coin.”
In other trending Bitcoin News today: Grayscale hints at plans to convert Bitcoin trust into BTC-settled ETF!
On Oct. 17, Barry Silbert, the CEO of Grayscale’s parent company Digital Currency Group, hinted that Grayscale is making plans to convert its Bitcoin Trust into a spot-settled Bitcoin fund.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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https://cointelegraph.com/news/all-time-high-weekly-close-5-things-to-watch-in-bitcoin-this-week
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BITCOIN PRICE EXPLODES AS RARE BULL SIGNAL FLASHES!! | BTC Transactions Hit A Major Milestone Today
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The Bitcoin price just crossed the $9,800 resistance and may be well on its way to smash the major $10,000 physiological resistance next.
BTC was trending higher through the early European session on Thursday as a very rare bull signal flashed for the first time in 10 months.
Dubbed as Ichimoku Cloud, the technical indicator turned green to identify a long-term upside trend shortly after bitcoin surged towards $9,769.70 on Wednesday.
It also hinted at the imminent formation of a Golden Cross – a popular candlestick pattern that predicts an upcoming bull market. Analysts at trading signals provider TradingShot called out Ichimoku Cloud for its historical accuracy in the past three years.
They noted that the indicator correctly determined trend directions.
On October 11, 2019, for instance, the Ichimoku Cloud turned red that soon followed the formation of a Death Cross – the opposite of Golden Cross.
The BTC price fell by circa 25 percent shortly after the bearish signal. Similarly, when the Ichimoku Cloud rolled over to green on April 20, 2019, bitcoin soon established a Golden Cross on its daily charts.
The cryptocurrency later swelled by circa 170 percent to mark its year-to-date high towards $13,868.44.
TradingShot explained: “As you can see on the chart, after every bearish Ichimoku roll-over, a Death Cross follows shortly after. Respectively after every bullish Ichimoku roll-over, a Golden Cross follows. Since the new Ichimoku Bullish roll-over just took place, a new Golden Cross in pending (see on the chart how the MA50 and MA200 have already started to converge).”
The Bitcoin prediction came in tandem with similar bullish expectations all across the bitcoin market.
Experts, including billionaire investor Michael Novogratz, the CEO of Galaxy Investment Partners, said the cryptocurrency is eyeing a bull run towards or above $10,000 in the coming sessions.
In what Bitcoin (BTC) supporters are calling “relentless” and “unstoppable”, the BTC network just broke another record today.
For most people, Bitcoin’s success is usually measured in terms of its price.
Even if you’re a long-term HODLer, it’s hard not to get excited by some good old-fashioned volatility and epic 32% monthly hikes.
But while the number one cryptocurrency looks set to break $10,000 very soon, other key metrics are equally as impressive right now.
News has broken that Bitcoin network transactions just surpassed the half a billion mark today!
This number is confirmed by Blockchain.com and comes at a time when the Bitcoin network is hitting new records left and right.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Zoom out and keep it simple.
The $9100 flip was a big deal for #bitcoin. Former support of the ‘descending triangle’ and the China pump.
Ascending triangle forming on RSI with a clear uptrend channel on the daily. pic.twitter.com/h2ZTXdT8uR
— Jacob Canfield (@JacobCanfield) February 5, 2020
Bitcoin Transactions Hit a Major Milestone Today, Find Out Here
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BITCOIN WILL HIT 0K BY 2022 MAY BE ‘TOO CONSERVATIVE’ SAYS BILLIONAIRE TIM DRAPER!!
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Two years ago, venture capitalist and noted Bitcoin investor Tim Draper publicly stated that BTC will hit $250,000 by 2022.
Yet, as Bitcoin continues to gain interest from investors, Draper revealed to Cointelegraph during an interview that a $250,000 price prediction may have been conservative:
“I think it’ll certainly hit that. But a lot of people are thinking that $250,000 was a little too conservative.”
Draper also discussed the impact of the COVID-19 pandemic on the blockchain space, noting that tokenization will play a major role in solving problems related to global shipping and real estate.
Additionally, Draper shared his thoughts on decentralized finance, or DeFi, saying he wants to “‘DeFi’ the venture capitalist business” moving forward.
CT: Right now, the world is in the midst of a crisis. Which technological breakthrough will help humanity come out stronger on the other end?
TD: Tokenization will advance. We’re seeing it in real estate, global shipping and in everything where items of value need to be moved between parties.
Now, these items can be transferred over the internet, which is so useful for industries like real estate and global shipping.
In the case of real estate, you could buy a piece of my house, or you could tokenize my real estate and own a piece of that property without having to buy the whole thing.
Tokenization and shipping is also a great way for people to own containers to keep track of the entire Iot.
I think we’re going to see some extraordinary breakthroughs in shipping and also with any kind of logistic use cases.
CT: And are you still sticking with your prediction that Bitcoin will hit $250,000 by 2022?
TD: Yes, Bitcoin will hit $250,000 by 2022 or the beginning of 2023. That $250,000 is really based on a 5% market share of currencies.
I think that’s easily achievable, especially as more women start using Bitcoin, since they control 80% of retail spending. It’s really interesting that there used to be one in 15 Bitcoin wallets that women held, and now it’s advancing.
As women start using those wallets, they’ll realize this is much easier. I moved as much of my money as I felt fair into Bitcoin. And so, yes, I think it’ll certainly hit that, but a lot of people are thinking that was a little too conservative.
In other trending Bitcoin News today:
Bitcoin Price Hits $14,000 Exactly 12 Years After Whitepaper Released
The price of Bitcoin has surpassed the critical $14,000 mark, the highest level since January 2018.
The price of Bitcoin (BTC) surpassed $14,000 on Oct. 31, the day Satoshi Nakamoto released the Bitcoin whitepaper in 2008.
Since then, the world’s biggest cryptocurrency has seen remarkable and exponential growth across various areas.
Fast forward 12 years, since the October 31, 2008 release of the whitepaper, Bitcoin is in a different growth trajectory.
An institutional craze is leading the BTC rally, major financial institutions are supporting crypto assets, and the market has become increasingly liquid.
The 12-year anniversary of the Bitcoin whitepaper is particularly special for Bitcoin because it marks the third post-halving cycle.
Every four years, Bitcoin undergoes a block reward halving, which cuts the rate at which new BTC is mined by half.
This happens because 21 million BTC can ever exist on the blockchain.
As BTC approaches its fixed supply, the rate of production gets slowed.
A halving historically has had a positive impact on the price of Bitcoin.
It reduces the pace a new BTC supply is introduced to the market.
Consequently, every four years, there is less BTC flowing into the exchange market.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Compared to the past ($1, $10, $100, $1K, $10K), we will see a short insane mania fomo peak above $100K. It’s impossible to say how high exactly. Anything between $120K and $220K I guess, based on these previous tops.https://t.co/LxYLwAJM7o
— Bit Harington (@bitharington) October 31, 2020
$15,000 by Monday #Bitcoin
— Max Keiser (@maxkeiser) October 30, 2020
Tim Draper wants to “DeFi venture capitalism,” also noting that Bitcoin will hit $250 thousand in the coming years thanks to consumer adoption. https://t.co/lrb1zJhM1s
— Cointelegraph (@Cointelegraph) October 30, 2020
https://www.wsj.com/articles/cash-is-trash-so-lets-bet-425-million-on-bitcoin-11604070071
https://cointelegraph.com/news/tim-draper-seeks-to-defi-the-venture-capital-business-with-bitcoin
https://cointelegraph.com/news/bitcoin-price-hits-14-000-exactly-12-years-after-whitepaper-released
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