Bitcoin price has somehow managed to remain in the green over the past 7 days despite a string of unfavourable events. Regulators remain hawkish, tax authorities are tightening their grip and Facebook’s Libra is back under scrutiny again.
Bitcoin Holds Fast as Regulators Swoop In on Libra, Telegram
Just ahead of the weekend, the market was in for several surprises. The Telegram ICO, which was slated to launch its Gram tokens on October 31, was suddenly deemed illegal by the US Securities and Exchange Commission. But that was not the end of mostly negative news that BTC had to absorb.
Libra, Telegram, Bitcoin ETF, IRS update – a lot to process for crypto markets in the recent days
Bitcoin still up a few % on the week despite the challenging backdrop pic.twitter.com/W7xUbFpCi7
— skew (@skew_markets) October 12, 2019
The other negative news included a loss of trust in Facebook’s Libra, after eBay, VISA, MasterCard and others abandoned the Libra Association. Facebook’s Libra was a source of optimism for crypto coins in June and…