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How John Mcafee is helping the entire crypto industry.

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John McAfee is undoubtedly the most influential figures in the cryptocurrency industry. Having been in constant fights with a number of financial regulators

Various circumstances which process that McAfee is a great cryptocurrency supporter.

Introduction

John David McAfee is undoubtedly the most influential figures in the cryptocurrency industry. Having been in constant fights with a number of financial regulators around the world. John McAfee has always stood by the cryptocurrencies side and has been constantly supporting them.

 

Founder of McAfee Associates, one of the most popular antivirus software firm, John Mcafee has plunged into the cryptocurrency domain and has constantly been in the Crypto news since his inception in the field. There are a number of instances where he has taken a firm stance, against the financial companies, some of them explained below.

Boycotting of RBI

Back in April 2018, The Reserve Bank of India had issued an official statement, stating a complete ban on the all the Financial Institutions which were related to the cryptocurrency transactions. It had given the companies a 3 month time window to stop all the functions related to the cryptocurrencies.

 

Recently on July 5th, the time window expired, and all the cryptocurrency operations were seized in the country. Many bank accounts were reported to be closed. Commenting on this incident the Crypto supporter John McAfee expressed his anger against the Reserve Bank of India and called for a complete boycott of the RBI. India is a developing country where the virtual currencies are striving hard to sustain in the country’s financial economy. Such decisions from the financial regulator of the country are really disheartening for all the Crypto enthusiasts in the country.

John Mcafee Boycotting HitBTC

HitBTC is one of the largest cryptocurrency trading platforms with more than 700 trading pairs to choose from. The daily trading volume being more than $250 million helps in providing high amounts of liquidity to the cryptocurrency market throughout the world.

 

The cryptocurrency exchange was reportedly held responsible for a delayed settlement of the transactions and sometimes this delay spanned for weeks together. It is even reported that some of the transactions were canceled by the exchange due to some circumstances.

 

The users with their MTC coins on the Crypto exchange were not able to withdraw the coins due to these problems, resulting in the non receival of the Airdrops offered by the Docademic, a cryptocurrency which was initiated by 2 medical students to provide Healthcare and Medical Services to the poverty-stricken people all around the world.  

 

Due to this careless attitude by the crypto exchange, John McAfee retaliated through Twitter and called for a complete boycott, until it promised to change its values and principles.

Differences with SEC

The Crypto Crusader has constantly been in a controversy with the Securities and Exchange Commission where there are claims being made by John McAfee through posting his own videos on the Internet, where he reveals that he was constantly being threatened by the commission for supporting the cryptocurrency space.

 

Specifically the Initial Coin Offerings, he was forced by the SEC to spread a message across his followers to avoid Initial Coin Offerings. But being a strong Crypto supporter he has also assured his followers that he would be coming up with an alternative for the Initial Coin Offerings, where it wouldn’t fall under the jurisdiction of the SEC. He has also claimed that he would be contesting for the post of president in the next US elections to support the Crypto space as much as possible.

 

There has also been contention between them, regarding the consideration of the tokens to be security tokens by the commission. The contention escalated so much that John McAfee called for an open public debate with the chairperson of the SEC, Jay Clayton regarding the issue.

Conclusion

John McAfee has been constantly been predicting the cryptocurrency market prices he once had said that Bitcoin could reach a value of almost $1 million someday. Constant threats from the Securities and Exchange Commission, towards one of the most famous Crypto enthusiast, is really not acceptable, as America is one of the biggest democracies in the world. Conditions where a financial institution is openly frightening a person for his life, the legal authorities of United States can’t shrug their shoulders at the matter.

Altcoins

Cryptocurrency Market Updates: Bitcoin May fall further

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The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400.

The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400. Yesterday the price of bitcoin fell up to $4190. Ethereum is still trading at a year and a half low of $125. Apart from ethereum, most altcoins are showing small corrections. Bitcoin Cash moved 3% upwards while Monero has moved 4% upwards in the last 24 hours. Bitcoin Gold and Bitcoin Diamond have had good gains for the day with 8% and 16% rise. IOTA is trading at around $0.32 which shows a 6% improvement from yesterday’s price. NEO is up by 5%. However, the small gains are nothing in front of the massive downtrend these altcoins went through in the past couple of days.

 

Cryptocurrency Market Capitalization Improved

The total cryptocurrency market cap yesterday came down up to $136 billion which was the lowest of 2018. In the last 24 hours, cryptocurrency market has managed to add $4 billion in the market capitalization adding to $140 billion. Over the last week, the cryptocurrency market had lost over $40 billion and over the last month, around $70 billion have been erased from the cryptocurrency market capitalization which is yet to be recovered.

 

Bearish predictions for bitcoin

While the market cap is trying to recover the price predictions for bitcoin still remain bearish as many cryptocurrency analysts have predicted that the only support after the current significant support of $4000 is at $3000. So if the price drops below $4000, it will definitely reach down to $3000 after which the price is expected to recover.

 

The overall situation of the market is still harsh as there is no major recovery from the massive losses that occurred in the past few days. What do you think about the bitcoin predictions being made by crypto analysts? Tell us in the comments section below.

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#Bitcoin

Bitcoin Cash Hard fork screwed the whole cryptocurrency market

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Whole cryptocurrency market is suffering because of the continues wars going on between ABC and SV which has created a bad reputation of the crypto space.

The original Bitcoin Cash split into Bitcoin ABC and Bitcoin SV during the hard fork but no one is sure to weather BCHSV or BCHABC will survive in the market as the hash wars still continue. The hard fork has lead to an uncertain future of Bitcoin Cash and also screwed the whole cryptocurrency market. The Price of both the new coins is on a continues decrease where Bitcoin Cash ABC values at around $226 and Bitcoin Cash SV values at around $76.

 

Cryptocurrency Market Crash

The whole cryptocurrency market is suffering because of the continues wars going on between the two teams which have created a bad reputation of the crypto space to the newbies. At this time when more and more institutional investors were entering into the cryptocurrency space, the hard fork has created a feeling of Fear, Uncertainty and Doubt amongst them.

 

BTCUSD yearly chart

BTCUSD yearly chart

 

As the hard fork started, the entire cryptocurrency market faced a downfall where all major cryptos are on a 6 month low with bitcoin trading around $5200 that is a yearly low for the most dominant cryptocurrency. The decline is the price has created fear in the minds of investors who are now talking about capitulation.

 

Should Craig Wright be blamed?

Craig Wright who claims to be the real Satoshi Nakamoto and the founder of the original bitcoin has been funding his side of the war using BTC. Cryptocurrency enthusiasts around the world are criticizing Craig Wright and also calling him a lier.

 

 

The local media’s role

The real reason behind the rise of cryptocurrency and blockchain was the mass adoption by people who heard about it through local media. At that time, the local media described bitcoin and other cryptocurrencies as the future of money explaining the decentralized nature of such currencies, but now due to the wars within the cryptocurrency ecosystem, the local media has started to criticize cryptos and people have started to lose faith in the crypto market.

If the amount of money being used in such hash wars would have instead been used for the development of the crypto ecosystem with advancements such as lightning network, the market could still be flourishing rather than being on the verge of getting sunk.

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#Ripple Price Analysis

XRP price analysis and market updates

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XRP has overtaken ETH again by becoming the number 1 altcoin according to market capitalization. Crypto analysts believe that XRP can outrage bitcoin too.

XRP has overtaken ETH again by becoming the number 1 altcoin according to market capitalization. Crypto analysts believe that XRP can soon outrage bitcoin too and take the spot of the number 1 cryptocurrency while bitcoin is still more than 52% dominant. XRP had a downfall last Wednesday when XRP price fell to $0.43, but in the last 24 hours, XRP experienced a good bullish momentum with a 12% rise trading above $0.51. XRP is currently trading at $0.519 (at the time of writing this article).

 

XRPUSD 5 day chart

XRPUSD 5 day chart

 

One of the major reasons for the rise of XRP is the approval of cryptocurrency ETF by the Switzerland authorities and also the adoption of RippleNet by more and more financial institutions worldwide. Many other altcoins apart from XRP also experienced a bullish momentum in the last 24 hours. XRP is on the top of the list for gainers while Stellar and Monero are on the 2nd and 3rd position. The price of bitcoin showed little improvements by remaining above $5600 mark.

Many financial analysts predict a bearish future for cryptocurrencies in 2019, while many other cryptocurrency enthusiasts believe that the following predictions are just to create a feeling of fear amongst the cryptocurrency investors. What do you fell about the same? Tell us in the comments section below.

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