quora Cryptocurrencies on September 3

Cryptocurrencies on September 3

The cryptocurrency market is developing as it offers a number of advantages which are unavailable to traditional currencies. One of the most significant benefits of digital currencies are not under the control of the central banks. It means that this market is decentralized which makes it more attractive for the investors. Another advantage is that even though it is a relatively new business but Bitcoin and other cryptocurrencies are already widespread across the continents.

Digital currencies on Tuesday

In the modern world, the right to privacy is the cornerstone of every person’s life. The digital currencies such as Bitcoin, Ethereum and others offer the sense of privacy unmatched by currencies regulated by the central banks.

There is another good news for people who own digital currencies or are planning to buy Bitcoin’s price. The price of the number one cryptocurrency increased on Tuesday. Bitcoin’s price surpassed $10,000 level which is often regarded as a key psychological level. It means that when the price is above that level this makes Bitcoin more attractive to the crypto investors.

Bitcoin struggled on Monday as its price was below $10,000. However, Bitcoin was able to break the resistance near this level. The price continued to increase after it crossed the $10,000 level.

At the moment, Bitcoin’s price is $10,301. This digital currency has the potential to achieve $10,500 if this trend is going to continue on Tuesday.

Another digital currency which managed to improve its position is the Ethereum. It also experienced problems on Monday, but Ethereum’s price recovered above $172 and $175 resistance level. Right now, Ethereum’s price is $178. The price might increase further if it is going to break the resistance near the $180 level.

Cryptocurrencies and Bank Secrecy ActDigital currencies and rules

The discussions about the crypto regulations started a long time ago. There are various opinions on how to regulate the cryptocurrency market. For example, The Financial Integrity Network has a plan regarding this topic. Washington D.C.-based advisory firm believes that cryptocurrencies should be regulated under the Bank Secrecy Act.

This firm asked U.S. Congress to use this act to regulate the digital currencies.

The price of two primary cryptocurrencies increased on Tuesday. There is a chance that price of Bitcoin and Ethereum might achieve even better results during the upcoming days.

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