Crypto Update: Telegram Cancels its Own Initial Coin Offering

Uncertainty Increasing for Speculators as Ethereum Awaits SEC Decision

Cryptocurrency traders and observers are anxiously awaiting a decision from the SEC regarding Ethereum. Ether could be labeled a token by the SEC which would mean it would be supervised as a security. This would increase Ether’s regulatory threshold immensely and likely weigh upon its value. There is no definite timetable for a decision from the SEC, which is adding to speculative uncertainty.  However, it may be wise to remember the SEC will likely base its decision on the implications it will have on other blockchains which generate associated cryptocurrencies. Meaning there is a definite chance the agency could label Ether as a token and the asset will need to be supervised as a security.

Bitcoin Consolidation Creating Opportunities for Speculators

The words Bitcoin and consolidation are not often heard together, but trading the past week has produced a compelling short-term perspective for the cryptocurrency. Bitcoin is near 9200.00 U.S Dollars per coin today. Resistance proved tough around the 9800.00 juncture early last week. Support remains at the 8200.00 Dollar level but has not been approached for nearly two weeks. The relative stability in Bitcoin is creating a window of opportunity for speculators who may have a strong viewpoint regarding its trend.

Telegram Cancels its Own Initial Coin Offering

Telegram, which is acts as a service for Initial Coin Offerings to investors via a social messenger app, has announced it will not go ahead with its own ICO. The company has raised over one billion U.S Dollars from private investors, and it claims it no longer needs the money an ICO would have raised. And while Telegram, in fact, may not need the money, it does raise the thought Telegram wanted to avoid scrutiny and serves as a reminder that clouds continue to hover over the ICO landscape.

Blockchain & Healthcare Industry Event in London

A blockchain healthcare event will be held in London today and tomorrow, and will focus on the impact the technology can have on the medical industry.

• May 3^rd – 4th, U.K, Blockchain in Healthcare Congress

Yaron Mazor is a senior analyst at SuperTraderTV.

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