BTC to Fall Under $6k, Tom Lee Thinks

Bitcoin’s painful start of the year isn’t over, according to co-founder of Fundstrat Global Advisors
16 March 2018   619

The fall of bitcoin, which began in early 2018, will continue in the near future, says Wall Street analyst and co-founder of Fundstrat Global Advisors Tom Lee. According to him, the coin lost 60% of the price after the historic record in the region of $ 20,000, and continues to show signs of a drop to $ 5873, Bloomberg reports.

As Lee noted, the news about strengthening regulation, as well as the decision of Facebook and Google to ban advertising of crypto-currencies and ICOs significantly affect the digital assets market.

When sentiment is this weak, the market is increasingly ’fire, ready, aim’ - meaning, any headline today is likely to trigger selling. 

Tom Lee

Wall Street analyst; co-founder, Fundstrat Global Advisors

The report notes that the price of bitcoin almost doubled after falling below $ 6,000 in January, but could not overcome the $ 12,000 mark. In addition, over the past eight days, bitcoin first broke the support level at $ 9325, and this Wednesday - and the level of $ 8,370. The next two levels of support - $ 7535 and February $ 5873, the report says.

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   102

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.