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Bitcoin {BTC} legalization remains a topic of discussion for Ukranian legislators; LedgerX takes aim at Christopher Giancarlo

Bitcoin

According to the candlestick chart linked to the BTC/USD pair on tradingview [based on data derived from the Bitstamp exchange], sellers are refusing to let go and are effectively dominating the performance of the king coin. The daily RSI [for 14 periods] is at 23.05, which points to Bitcoin being an oversold entity. Post 20th-September, the MACD line sunk below the signal line, causing the histogram to go red. Support lies adjacent to the $7752.73 mark, and resistance may be felt near the $8749 level.

The final few peaks tied to the Awesome Oscillator were all created underneath the zero line. Their brown shade depicts the presence of bearish momentum. Bitcoin is priced at $8157.8 as of this instant. The total market cap associated with the king coin is $146.544 billion.

Under the leadership of Volodymyr Zelensky, the Ministry of Digital Transformation aims to bring in a resolution supporting the trading and HODLing of virtual currencies. This landmark ruling may influence Russia, where Bitcoin and other projects aren’t recognized as legal tender yet.

Blockchain technology has the potential to transform the entire world. The introduction of pro-bitcoin regulations is bound to garner the attention of the public and foster hope in the hearts of crypto-evangelists scattered across the nation.

J. Christopher Giancarlo served as the Chairman of the Commodity Futures Trading Commission till April 2019. LedgerX has made some startling allegations surrounding Mr. Giancarlo and his bias towards corporations like Bakkt. Giancarlo had apparently tried to revoke LedgerX’s license.

CoinDesk put in an FOIA request and as a result of such efforts, two letters were unearthed. One of them contains this passage, “…the Commission is in clear violation of the Commodity Exchange Act enacted December 18, 2015…” The ones in-charge should extend a formal apology to the CEO of Ledger X Paul Chou.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.