Bitcoin, Ripple, Ethereum, Bitcoin Cash, Stellar, EOS, Litecoin, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 21

Making correct predictions is a difficult skill, even more so when it comes to cryptocurrencies. Many analysts were caught on the wrong foot with their overly bullish projections for 2018.

One of the most popular analysts, co-founder of Fundstrat Global Advisors, Tom Lee, has said that in a note to clients he “will cease to provide any timeframes for the realization of fair value.”

However, another popular crypto name, Galaxy Digital’s Mike Novogratz, believes that the current short rallies might lead up to a bigger one later. The crypto investment bank is pinning its hopes on the upcoming launches of Fidelity’s crypto custodial and trading services, as well as that of the digital assets trading platform Bakkt, to attract institutional investors.

On the other hand, United States bank JPMorgan Chase has said that the involvement of the institutional investors in the market was dwindling.

After the massive bear market, one would expect cryptocurrencies to take a back seat to fiat money. However, in a recent survey by the United Kingdom’s central bank — conducted on Twitter — about 70 percent of the respondents favored receiving gifts in cryptocurrencies over cash, bank transfer or gift voucher.

Various crypto projects continue to receive funding, which shows that investors are still interested in this space. But what should the traders do, after the recent upswing? Let’s find out.

Readmore: https://cointelegraph.com/news/bitcoin-ripple-ethereum-bitcoin-cash-stellar-eos-litecoin-bitcoin-sv-tron-cardano-price-analysis-dec-21

Facebook is reportedly making a cryptocurrency for users of the messaging service WhatsApp, Bloomberg reports on Dec. 20. The token will purportedly be used for money transfers made within the app, and will focus on the remittances market in India.

Citing sources familiar with the matter, Bloomberg states that Facebook is developing a stablecoin. The sources further stated that the coin will not be released anytime soon, as Facebook is still working on a strategy for custody assets i.e. the asset to which the stablecoin will be tied.

The Indian remittances market is significant. According to data from the World Bank, the country received nearly $69 billion dollars in foreign remittances in 2017, or 2.8 percent of the country’s GDP.

Readmore: https://cointelegraph.com/news/bloomberg-facebook-is-developing-a-cryptocurrency-for-transfers-in-whatsapp

Thursday, Dec. 20 — crypto markets are seeing their fifth day of green, with virtually all of the top 20 cryptocurrencies showing a strong burst of growth, as data from Coin360 shows.



Market visualization by Coin360

In terms of 24-hour growth, fourth-largest cryptocurrency Bitcoin Cash (BCH) has soared ahead of other assets, seeing an astonishing 36 percent spike to hit $165 as of press time. Today marks the coin’s third day of double-digit growth, and fifth day in the green. With 7-day growth over 80 percent, the coin still remains close to 50 percent down on its monthly chart.

Readmore: https://cointelegraph.com/news/bitcoin-back-over-4k-as-crypto-markets-see-fifth-day-of-green

The United Kingdom tax collection service published its first detailed tax legislation for private cryptocurrency holders Dec. 19 following a lengthy consultation period.
Its new policy paper, “Cryptoassets for Individuals,” sets out likely tax obligations for private investors who buy, sell, get paid in and even lose cryptocurrency.

Capping months of uncertainty among U.K. taxpayers over what they need and need not report to authorities about their holdings, the latest information is officially endorsed by tax collection agency HM Revenue & Customs (HMRC).

Specifically, individuals will be liable to pay either Capital Gains Tax (CGT) or Income Tax (IT) depending on the type of cryptocurrency transactions they are involved in.

In the case of receiving payment from an employer in cryptocurrency, employees would also have to pay social security contributions known as National Insurance (NI).

Readmore: https://cointelegraph.com/news/united-kingdom-releases-tax-advice-for-cryptocurrency-investors

US Dept. of Homeland Security Calls on Blockchain Startups for Anti-Forgery Solutions

The United States Department of Homeland Security (DHS) is seeking blockchain-based solutions from startups to prevent the forgery and counterfeiting of digital documents, according to a press release published Dec. 4.

According to the release, the request has been published under the aegis of DHS’ Science and Technology Directorate (S&T)’s Silicon Valley Innovation Program (SVIP). The call is open to startups or small enterprises that have not had a government contract in the past 12 months (totalling $1 million or more) and that have a workforce of under 200 employees. The release links to a detailed solicitation, entitled “Preventing Forgery and Counterfeiting of Certificates and Licenses.”

Readmore: https://cointelegraph.com/news/us-dept-homeland-security-calls-on-blockchain-startups-for-anti-forgery-solution

The president of the World Bank Group Jim Yong Kim has stated that distributed ledger technology (DLT) has “huge potential” and that the bank should keep pace with innovative technologies. Kim spoke at the International Monetary Fund (IMF) and the World Banks’ Annual Meeting in Bali, Indonesia Oct. 11.

Kim addressed the importance of fighting poverty while boosting prosperity, pointing out that “there are innovations in the technological world that can help us leapfrog generations of bad practice, generations that would take forever in terms of reducing corruption.” Kim said:

Readmore: https://cointelegraph.com/news/world-bank-president-distributed-ledger-technology-has-huge-potential

I am going to be very honest here with you guys. I know some of you may antagonise or kick against my view. But I will still speak the truth as it is.

My major reason centered on the fact that there is no regulation for cryptocurrencies.
How can someone somewhere in the name of ICO project team, whom you don't even know, some without a verifiable office address, whose presence is just online and the internet, demand your sensitive information including your international passport, government issued ID, proof of your residential address, and other personal information or documents?
What if this person is just a scammer? What if this person works for maybe a terrorist organization who is just looking for real biodata or identities? What if this person is just a criminal looking for ways to fake his own identity and take upon yours or anyone else? What if your verified photograph (face) matching your identity is used in pornography or nudity? What if the data is accidentally leaked? My questions go on and on.

Remember, the cryptocurrency as it is currently has no regulation, as such there is no regulatory body or authority you can petition your grievances or seek redress should any of the aforementioned incidences happens to you as a result of the information you have forwarded. The ICO project team whom you sent your details can as well disappear without trace.

Therefore, as long as there is no Cryptocurrency Regulation, then there should be NO KYC.