Crypto Bullish Market Expectations Signal‌‌

Data from Google Trends shows that there is a large rise in interest in cryptocurrency. In fact, “buy crypto” searches are at their highest level since the ICO boom. At the same time, the amount of BTC held in exchange accounts was at a 2-year low. This indicates that many consumers are withdrawing coins to more secure personal wallets. Both of these events suggest an indication of bullish market expectations.

A newspaper from Blockchain Research Lab provides further evidence for laundry trading. Laundry trades occur when a trader buys or sells to his own account, with no profit or loss but increasing reported volume. This benefits the coins and exchanges by giving a false impression of an activity. The researchers called on popular data metric websites to implement tighter reports on trading volumes.

The former head of Uber’s security team is alleged to have paid $ 100,000 in Bitcoin to cover a piece of the company’s database in 2016. Joseph Sullivan has been charged with obstruction of justice and a felony misstatement for failing to disclose the hack, it is said. to have revealed the data of 57 million users including drivers.

Tahini’s, a Canadian restaurant chain, converts all its cash funds into Bitcoin. Company owner tweets explaining that the pandemic and its financial response have exposed the traditional financial system as “a game of musical chairs.”

Before we close, this week’s “Bitcoin quick question” is whether Bitcoin can be transferred to your bank account?

In most countries, Bitcoin, as it stands, cannot be transferred to your bank account. That is usually due to regulatory and compliance measures that banks deal with, as they are the government’s agent in the prevention of money laundering, terrorist financing, or other criminal activities.

However, recently there have been great developments, and the day you will be able to hold Bitcoin in your bank is looking closer than ever.

Rules passed in Germany will allow local banks to keep cryptocurrencies, and it is safe to assume that other European countries will follow.

In the United States, the currency regulator, also known as OCC, has recently clarified that US Banks are also allowed to hold cryptocurrencies for their customers.

So, it’s a matter of time before the banks step in too. But remember the Bitcoin rule – not your private keys, not your Bitcoin!

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That’s what happened this week in Bitcoin. See you next week.