The fear and build up towards Aug. 1, 2017, and the creation of Bitcoin Cash which forked off the original chain was monumental. However, it was a damp squib for the future of Bitcoin as it actually spiked in value.
Since then, forks on Bitcoin have become almost as common as ICOs, and in fact, forks on the Bitcoin chain look to be the latest trend for 2018 as new companies look to cash in on the familiar Bitcoin name.
Calls for cryptocurrency regulation were a resounding theme at the World Economic Forum in Davos last week.The world’s most prominent financial institutions remain wary of going all in on cryptocurrencies, amid fears of future regulation leading the market to tank.
Governments around the world have signaled their ongoing or imminent intent to legislate and regulate cryptocurrencies around the world, and it seems the largest banking and financial firms are waiting for more clarity before they forge ahead with plans to enter the market.
The Eastman Kodak Company announced Jan. 30 that the launch of their cryptocurrency KODAKCoin would be delayed in order to evaluate the status of potential investors. The delay was announced the day before the Initial Coin Offering (ICO) was set to start, according to the project’s Jan. 9 press release.
As explained in on the company’s website, Kodak intends to run an ICO that offers security tokens as an ‘exempt offering’ — this means the company does not have to register their security with the US Securities and Exchange Commission (SEC), but only “accredited investors” can participate in the ICO.
According to Catalini, it is because of the hype and excitement around the cryptomarket through the end of last year, a correction was bound to happen. He concluded. “The space was ripe for a correction after the craziness of the end of 2017.”
Bitcoin continues to slide, now into February, and it seems to be borne on the back of a lot of negative press – some real, and some less than convincing. As several countries, notably China and South Korea, target a crackdown, Neil Wilson, analyst for ETX Capital, said: “Explaining moves in Bitcoin is always tricky but this plunge … may well be a result of recent signs that regulatory pressures are building.”
The Korean crackdown was a paper tiger and debunked by the countries highest authority, but bad news leaves its mark on such a speculative market. Regardless, today’s price proves that negative press has a big role to play in the way the market moves. And the flipside of that is so does positive news.
At GameCredits Inc., we are first and foremost gamers. Gaming is what got us into computers early on. It gave birth to a passion for programming that—decades later—led us into the exciting world of blockchain and digital currencies. It is our belief that this industry can be vastly improved and made better for all—publishers, game developers, casual gamers, e-sport professionals—through the use of cryptocurrency.
Current Price: $2.82 USD
Market Cap: $181,644,268 USD
Circulating Supply: 64,355,352 GAME
Total Supply: 64,355,352 GAME