| Bitcoin just made up its way above $10,000 but the regulatory sector continues to heat up. After the FATF recommendations, congressional hearings, and high-profile tweets about the future of digital currencies, the IRS issued 10,000 love letters to cryptocurrency users demanding that they report their activity or correct previously filed reports. The move followed requests from Congress that the IRS clarify various taxation issues. The letters were sent even before the agency had issued its clarifications, and some interpreted them as a statement by the authority that reporting obligations were preceded by all and that corrective reports could be filed if necessary. Despite the clarification issued by the IRS, we are still likely to see the regulatory octopus deployed to the entire industry. At the time of this writing, congressional hearings continue and the market is still interpreting the implications and waiting to see regulatory activity and results in the field. Following Bitcoin's price increase, altcoins have suffered a serious loss in value against BTC. It seems that after the recent correction, this trend has halted, at least for the time being. However, despite the relative stability, we did not see any alts manage to lift their heads above water, indicating a lack of confidence in the altcoin market and perhaps even a bullish outlook for Bitcoin in the short term. | 
BTC: $10,030
ETH: $216
XRP: $0.318
Bitcoin (Again) Above $10,000 - Crypto Weekly Market Report