Issue 10 – 2023 Crypto Live Casino News – Crypto continues to climb!

The bears say crypto will come tumbling down after a false breakout, while the bulls are poised for huge gains – especially in the wake of spot BTC and ETH SEC approval looking promising. (Photo by Kylie Anderson on Unsplash)

Cryptocurrency is one of the most innovative industries to emerge from the twenty-first century.

There has been debate on where the home of cryptocurrencies and blockchain technology originated, and many believe it was the U.S. The belief that the innovation and future of crypto will continue to be U.S.-based has shifted towards Asia because of the friendly regulatory frameworks that have enabled crypto to expand.

In light of the industry’s rapid technical advancements, governments and regulators must expedite the creation of frameworks that will support the sector’s growth. Asia is now known as a global hotspot for blockchain due to recent legal reforms, particularly in Hong Kong and Singapore, where developer talent and investment are abundant.

Clear guidance on cryptocurrency regulation is required across the industry, largely because major stakeholders are constantly uncertain. US government officials cannot determine how the industry should be governed.

Developers are puzzled about what to anticipate from authorities due to the dynamic regulatory environment surrounding cryptocurrencies. A centralized record of all off-chain cryptocurrency transactions, accessible to regulators, is the end goal of the US House of Representatives. The principles upon which cryptocurrency was founded may be jeopardized by this legislation. The US government is restricting the creative ecosystem the Web3 space needs to thrive by sending these contradictory and occasionally hostile signals.

Asia has moved to create their framework as the United States has increased its regulatory attention to the cryptocurrency industry. Asia’s rich Web3 talent pool will only grow as more developers leave the US for safety. In the last five years, the US has lost 2% of the global market for blockchain developers annually, market analysts have stated.

Capital and inclination to invest shows data that indicates that seed-stage investments were a focus for investors as last year’s total tech investment in China, India, and Southeast Asia reached US$103.9 billion. In Southeast Asia, seed-stage investments rose 73% in the previous year. According to other reports, the Web3 industry in Asia is worth trillions of dollars.

Blockchain developers are choosing the Asia-Pacific region to relocate their operations as the US keeps sending signals to the cryptocurrency community that it is closed for business. Asian economies are now world leaders in the blockchain industry thanks to their progressive outlook, which has helped the region become one of the Web3 innovation hubs with the fastest growth rate.

This week, the crypto report will examine the price movements of Bitcoin, Bitcoin Cash, Litecoin, Tron, Ripple and Ethereum for the last couple of weeks.

Last Month’s Report: For the previous version of this report in October, take a look back at the prices in Issue 9 – 2023 Crypto Live Casino News.

Crypto Price Watch

(Issue 10 – November 2023 Crypto Price Update News for Live Casino Players)

• Bitcoin (BTC) – The recent spike of Bitcoin to over $37K USD has sparked a conversation as to why the current bull run? Market analysts believe that the BTC spot ETF confirmations by the SEC will come to fruition in the coming weeks. BTC has jumped 25% in the last month and is close to breaking through $40K USD. Another factor pushing up BTC 3.5% in the last 24 hours is the election of Javier Milei in Argentina. The far-right pro-private sector statesman has been a supporter of Bitcoin and he wants to eliminate the country’s central bank (Argentinian Peso), which is pegged to the American dollar. The country’s inflation rate hit 142% in October and Milei has expressed interest in returning money to the private sector through BTC. The coming weeks will definitely be volatile for BTC which is currently trading at $37, 482 USD.
• Bitcoin Cash (BCH) – Bitcoin cash has dropped almost 7% in the last month and appears to be in a bearish trend. The coin is currently trading at $226 USD as it declined below the $230 USD support level. The volatile altcoin is still popular with investors/merchants as their expansion has increased with the support of companies such as BitPay. BCH also upgraded their network last September with new add-ons, faster transaction times and enhanced block size.
• Litecoin (LTC) – Litecoin price has declined after hitting a monthly high of $75 USD last week. It appears that large investors have taken some of their profits in the last month. Whale investors have significantly influenced the price as their large transactions have caused substantial price swings in the bearish direction. The peer-to-peer network had a record 1m transactions on November 14^th, the highest amount since 2011. LTC is currently trading at $69.67 USD with resistance at $69.94 USD and weak support at $69.41 USD.
• Tron (TRX) – TRON has creeped up incrementally over the last year, up 85% since January. TRX has expanded daily users to 1.5m with over 194m accounts. Daily trading volumes have increased to a massive $270m USD, pushing the price to $0.11 USD last week. The altcoin has since come off and is currently trading at $0.10 USD.
• Ripple (XRP) – The Ripple/SEC saga continues to make the news as favorable expectations for XRP grow. Ripple has won two recent court cases but the SEC can still appeal the Programmatic Sales case, which may be affecting the current price of XRP (buyer demand). Market analysts are confident that Ripple will finish strong by the end of 2023 and a solid performance in the coming weeks. XRP is testing a crucial resistance point $0.63 USD and support of $0.59 USD and is currently trading at $0.61 USD.
• Ethereum (ETH) – Ethereum has enjoyed an increase of price in 2023 of 68% and a 23% increase in the last month. The coin broke through the $2000 USD dollar barrier last week and hit a yearly high of $2,121 USD. The coin is riding the wave of the weakening U.S. dollar and optimism of the possible adoption of crypto as the currency in Argentina. Another factor is the prospect of the listing of spot ETH ETF’s. The leader in blockchain DeFi is currently trading at $2,015 USD.

Disclaimer: We are not crypto experts. All we do here is report the price action on the crypto market to keep our crypto casino players updates as many of them play at the casino listed on our Bitcoin casino page!