THE UMPTEENTH SINK OF BITCOIN AND OTHER CRYPTOCURRENCIES

<p><em>The cryptocurrencies this week have been quite unstable, while a new cryptocurrency enters the<br />
market, the Bitcoin suffered and Microsoft joins the list of companies that banned advertising on<br />
such currencies.</em></p>
<p><strong>BITCOIN UNDER $ 8.000</strong><br />
On Friday, the price of Bitcoin has returned to trade below the threshold of $8.000, before sinking<br />
up to $7.700 and then trying to recover the new lows of the day.<br />
The fall pushed the listing of the BTC / USD even lower and the most famous cryptocurrency in the<br />
world has tried in every way to put a brake on sales.<br />
It seems that long-awaited Coindesk Consensus Conference, an event held this week in<br />
Washington, did not have the expected effect on either the Bitcoin price or the price of other<br />
cryptocurrencies.<br />
At the beginning of the week, blockchain experts, scholars and investors have looked hopefully at<br />
this event because in previous editions the Consensus Conference has always managed to<br />
support the price of Bitcoin, but this time it did not go this way.<br />
Someone attributed the decline of the listing to the different opinions that emerged during the<br />
summit. The opinion of James Bullard, president of the Fed of St. Louis, was the hardest attesting<br />
that the cryptocurrencies will never be &amp;quot;main currencies,” since they are too many and they<br />
exchange on totally different price levels.</p>
<p><strong>MICROSOFT SAY NO</strong><br />
To contribute to the Bitcoin rebates was also the latest decision by Microsoft that announced its<br />
intention to impose a ban on advertising related to cryptocurrencies and ICO, a ban that will affect<br />
its favorite search engine, i.e. Bing. All in the wake of what has already been accomplished by<br />
Google, Facebook and Twitter. The ban will take effect between the end of June and the beginning<br />
of July.<br />
Microsoft has justified its choice by defining the cryptocurrencies tools not yet regulated and<br />
therefore unsafe for users who, in turn, could end up in the sights of unscrupulous people ready to<br />
cheat them.<br />
At the time of writing, the price of Bitcoin was again attempting to recover ground by trading 4%<br />
down on $8.200. The same situation has also arisen for the entire cryptocurrency industry.</p>
<p><strong>A BANK AND HER FIRST TOKEN</strong><br />
According to rumors, Mitsubishi UFJ Financial Group, the fifth largest bank in the world, could soon<br />
bring in the market a new cryptocurrency (MUFG Coin) soon in 2019. The bank had anticipated its<br />
intention to launch a first token in January, a move that would have allowed her immediately to<br />
become the first Japanese credit institution to issue digital assets by diving into the cryptocurrency<br />
industry.<br />
The bank would already be considering the possibility of establishing some partnerships in order to<br />
guarantee an initial basis for testing and subsequent acceptance of cryptocurrency.<br />
In fact, the phase of emission of the cryptocurrency will be preceded by analysis and testing.<br />
Customers who choose to participate will download an application through which convert their<br />
deposits.<br />
The cryptocurrency will allow to make transactions from one account to another, as well as<br />
payments in common places such as restaurants, small shops and all businesses. The value of<br />
each unit of this token will correspond to that of a single yen.<br />
The entry of the new coin, which will be used at the beginning only in some stores and only in<br />
Japan, will probably not shake the trend of the virtual market. Yet the birth of a new cryptocurrency<br />
by the hands of a bank, could turn out to be a fundamental precedent for a broader acceptance of<br />
the virtual phenomenon, even by financial institutions.</p>
<p>&nbsp;</p>