Monday, November 27, 2017

CryptoCurrency News: Ex-State Streeters Raise $5 Million for Crypto Asset Platform

Three former State Streeters have raised $5 million to build a platform for the next wave of institutional investors wanting access to crypto assets.

via CoinDesk

CryptoCurrency News: Crying Wolf? Why You Can't Ignore Crypto 'Scam' Accusations

Sorting the signal from the noise may be harder in the cryptocurrency space than almost anywhere else.

via CoinDesk

Crypto Market Surges Past $300 Billion, Sights Set on JPMorgan Chase

300 Billion Market Cap Cryptocurrency
The rise of the digital currency market is continuing its upward trajectory, with the combined market value setting a new record of over $300 billion during trading Monday.
Figures from CoinMarketCap show that the total value reached $305.3 billion at 07:47 UTC on the 27th November.
As a result of this rise in value, the combined market cap is now more valuable than Visa ($255 billion), Wells Fargo ($267 billion) and the Bank of America ($279 billion), according to Google Finance.

The combined market rise comes at a time when the value of digital currencies are experiencing a surge in price. Bitcoin saw its value pass $9,700, at $9,790, for the first time, pushing its market cap value up to $163.5 billion, during Monday morning trading. Second-place ethereum, which has been flirting with the $300 mark for some time, saw its price rise to within touching distance of $500 for the first time, at $493.

With unprecedented heights being reached, can the combined cryptocurrency market surpass that of JPMorgan Chase, currently valued at $343 billion?

Jamie Dimon, CEO at JPMorgan Chase, has been vocal about his feelings toward the digital currency market, in particular, bitcoin. In September, he famously called the cryptocurrency ‘a fraud’, which was later followed up with the claim that it was ‘worth nothing.’ No doubt if the combined market cap were to pass JPMorgan’s Dimon would have something to say.

Nevertheless, despite Dimon’s negativity toward bitcoin that isn’t preventing the Wall Street bank from considering helping its clients trade bitcoin futures. Once the CME Group launches its bitcoin derivatives contracts next month, JPMorgan may provide its clients access to it.

Last week, The Wall Street Journal cited someone familiar with the matter as saying:
“JPMorgan is considering whether to provide its clients access to CME’s new bitcoin product through its futures-brokerage unit.”
Some feel that bitcoin will continue to rise even higher. Ronnie Moas, founder of Standpoint Research, believes that it will reach $14,000 in 2018. This is a revised price target from his earlier $11,000.

In a note to clients last week, he said:
“There have been many positive developments during the last five months and a few of the obstacles that were in bitcoin’s way have been knocked down.”
However, while confidence appears to be gaining within the market, according to Frank Holmes, the chief executive officer at U.S. Global Investors, it’s not possible to know which digital currency will survive, reports CNBC.
“What bitcoin has done, it has woken up everyone to the power of the blockchain technology, like emails woke everyone up to the Internet,” he added. “At the beginning, people didn’t trust the Internet. So we don’t know who’s going to survive.”
Since the beginning of 2017, bitcoin’s value has increased by over 870 percent. At the start of January it was trading at $1,000 and now it’s worth $9,728, according to CoinMarketCap.

CryptoCurrency News: As Price Eyes $10,000, Bitcoin Faces 'Mainstream' Moment

As bitcoin nears $10,000, CoinDesk compiles perspectives on the technology and where its insiders think the market's headed.

via CoinDesk

CryptoCurrency News: Bitcoin Price Rally Has Been 'Amazing' Says Nuveen's Bob Doll

Bitcoin "feels speculative," according to the chief equity strategist for Nuveen Asset Management. 

via CoinDesk

CryptoCurrency News: Short-Lived Shine? Bitcoin Gold Could Revisit Sub-$300 Levels

Bitcoin gold may have leapt up in the token rankings, but its gleam may soon dull, the price charts indicate.

via CoinDesk

CryptoCurrency News: Bitcoin Price Tops $10,000 on Korean Exchanges

The price of bitcoin is trading above $10,000 at several South Korea-based bitcoin exchanges, market data reveals.

via CoinDesk

[FOREX NEWS] US new home sales leap to 685K – USD sell-off stalls

The US dollar started the week on the back foot, extending some of the losses it suffered from last week. Yet with the highest level of new home sales in a decade, the greenback did not remain unfazed. A leap to 685K annualized sales of new units in October certainly beat expectations of only 627K. [...]

The post US new home sales leap to 685K – USD sell-off stalls appeared first on Forex Crunch.

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CryptoCurrency News: A Crypto Crystal Ball? What If Traders Settled Bitcoin Forks

Researchers are trying to improve prediction markets as potentially valuable tools for measuring community support or opposition to protocol changes.

via CoinDesk

CryptoCurrency News: $10,000 Today? Bitcoin Price Primed to Break Psychological Barrier

With sentiment more bullish than ever, bitcoin prices look likely to test $10,000 levels – and perhaps beyond.

via CoinDesk

CryptoCurrency News: Cryptocurrency Price Surge Could Boost GPU Sales, Says Wall Street Analyst

Prices increases in ethereum, monero and other cryptocurrencies could spark a sales boost for makers of graphics cards (GPUs).

via CoinDesk

CryptoCurrency News: Iran's Cyberspace Authority Says It Welcomes Bitcoin, If Regulated

The secretary of Iran's High Council of Cyberspace has said the agency "welcomes" bitcoin, with the caveat that there must be regulation.

via CoinDesk

CryptoCurrency News: Samsung Inks Deal with Seoul Government for Blockchain Platform

Samsung SDS announced yesterday that it has signed an agreement with the Seoul Metropolitan Government to build out blockchain services.

via CoinDesk

[FOREX NEWS] FX Week Ahead: Inflation, GDP and OPEC meetings

Economic data from the week ahead is relatively quiet. Dominating the news wires will, of course, be the OPEC meetings scheduled this week. The OPEC member nations and Russia are expected to further extend the production cuts in a bid to send oil prices higher. On the economic front, the data ahead will focus on [...]

The post FX Week Ahead: Inflation, GDP and OPEC meetings appeared first on Forex Crunch.

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[FOREX NEWS] German gyrations + nature and natural gas – MM #166

The euro is on the rise thanks to an upbeat situation in its largest economy. We start a tour from Germany and continue to talk about how nature moves the prices of natural gas. You are welcome to listen, subscribe, provide feedback and pledge support on Patreon. German euro: A failure to cobble one German coalition [...]

The post German gyrations + nature and natural gas – MM #166 appeared first on Forex Crunch.

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