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Feb 12, 2021

Can Regulating Cryptocurrency Be a Good Thing?

Can Regulating Cryptocurrency Be a Good Thing?

As cryptocurrency has grown in prominence, acceptance, functionality, and value, public figures have grappled with ways to regulate it. There are a myriad of logistical challenges in overseeing a new financial system predicated on anonymity, and that’s before taking into account crypto investors’ concerns that regulation would cripple, or even destroy, vital elements of the currency and impede its ability to grow.

Nevertheless, talks broaching the regulatory subject have heated up. The US Treasury held a hearing on Tuesday to discuss the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission’s (CFTC) roles in overseeing cryptocurrency markets in the US, and prominent international figures, including US Treasury Secretary Steven Mnuchin and French Finance Minister Bruno Le Maire, have called for talks about cryptocurrency regulation during March’s G20 summit in Argentina.

Mnuchin and Le Maire have different, but standard, fears about cryptocurrencies. Mnuchin’s main concern is the potential for them to be misused or abused, particularly through illegal activity, like money laundering. Critically, however, he has stated that he does not believe they threaten financial market stability. Le Maire, on the other hand, is mainly worried about the risks associated with market speculation.

These are not the first conversations regarding concerns and potential cryptocurrency regulations in the US or at a global conference, but they are surely a sign of cryptocurrency’s burgeoning importance on an international level. With regulation looking like an inevitability, it is worth asking – what would cryptocurrency regulation look like? And, is there a chance regulation could actually be a good thing?

 


 

The Significance and Takeaways of the Senate Hearings (February 6, 2018)

On February 6, the Senate Banking Committee saw SEC Chairman Jay Clayton and CFTC Chairman Christopher Giancarlo expound on near-term cryptocurrency regulation plans in the US. The two offered testimony on what can and should be regulated, as well as the logistics of doing so, and presented their thoughts on the future of blockchain and cryptocurrency markets. 

The conversation outlined three main pillars of the cryptocurrency economy – cryptocurrencies as “a replacement for dollars;” ICOs (Initial Coin Offering) as “like a stock offering;” and distributed ledger technologies, or blockchain. Giancarlo expressed curiosity and enthusiasm about the potential of the emerging market, while Clayton’s tone was more solemn as he detailed his concerns about ICO fraud and protecting ‘Main Street’ investors.

Conversations are far from finished, but these initial talks should assuage fears that future regulation efforts will seek to impede growth. Both chairmen expressed their desire to regulate cryptocurrency exchanges as part of a broader effort focused on protecting and educating investors, who may assume cryptocurrency markets are regulated like traditional ones. Clayton proposed an interagency plan between the SEC, CFTC, states, and federal regulators to teach consumers about unregulated trading platforms. Giancarlo clarified that the CFTC cannot require protections that consumers would expect from customary securities exchanges, but that Bitcoin futures markets now allow the CFTC to analyze trading data for fraud and manipulation. And even Senator Mark Warner, whose calls for better-coordinated regulation efforts were met with agreement from both chairmen, expressed a positive vision for the future: “The potential writ large amongst crypto assets and the underlying blockchain could be as transformational as wireless was years ago,” said Warner.

The emphasis on protecting consumers from fraudulent and dangerous activity, as well as the generally positive tone of the meetings, should be music to the ears of cryptocurrency investors, who were largely expecting more bad news in a difficult week. Signs appear positive for the ongoing viability of virtual currencies in a regulated world.

Related Ticker: BTC.X

BTC.X's RSI Indicator leaves overbought zone

The 10-day RSI Oscillator for BTC.X moved out of overbought territory on May 21, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 58 instances where the indicator moved out of the overbought zone. In of the 58 cases the stock moved lower in the days that followed. This puts the odds of a move down at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on June 13, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BTC.X as a result. In of 140 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for BTC.X turned negative on June 08, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 57 similar instances when the indicator turned negative. In of the 57 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BTC.X broke above its upper Bollinger Band on June 04, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Bullish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

BTC.X moved above its 50-day moving average on June 15, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for BTC.X crossed bullishly above the 50-day moving average on May 20, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 19 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BTC.X advanced for three days, in of 436 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 426 cases where BTC.X Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

Market Cap

The average market capitalization across the group is 1.31T. The market cap for tickers in the group ranges from 1.31T to 1.31T. BTC.X holds the highest valuation in this group at 1.31T. The lowest valued company is BTC.X at 1.31T.

High and low price notable news

The average weekly price growth across all stocks in the group was -4%. For the same group, the average monthly price growth was 1%, and the average quarterly price growth was 55%. BTC.X experienced the highest price growth at -4%, while BTC.X experienced the biggest fall at -4%.

Volume

The average weekly volume growth across all stocks in the group was -24%. For the same stocks of the group, the average monthly volume growth was -31% and the average quarterly volume growth was 64%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating:
P/E Growth Rating:
Price Growth Rating:
SMR Rating:
Profit Risk Rating:
Seasonality Score: (-100 ... +100)
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BTC.XDaily Signal changed days agoGain/Loss if shorted
 
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