TGIF! We will end the week with really BIG NEWS: Technology meant to make Bitcoin money again just went live. First Bitcoin main net Lightning Network (LN) product launches as developers net $2.5 Mln from big backers: Jack Dorsey and Charlie Lee! There are 5 reasons Bitcoin is fundamentally stronger than ever:
- More people are using it
- Nodes are more numerous (and more widely distributed) than ever
- Bitcoin is scaling
- Hash rate is at record highs
- It’s still here
So have no fear and do not listen to the noise, stay focused on the fundamentals because things are moving forward faster. That said…
Bitcoin’s horrid week made headlines all over the world, but is there hope for a rebound? If you are familiar with charts, Bitcoin’s “Death Cross” looms as strategist, Paul Day, eyes $2,800 level. Bitcoin may see a relief rally, but the bottom is still elusive. New investors discovering they have hefty tax bills to pay may be contributing to Bitcoin’s fall. Visa’s finance chief attacks Bitcoin by saying it’s a bubble – as if we have not heard that before?
Peter Thiel still a stern believer of Bitcoin triumph compares it to gold. Bitcoin has no value, says Allianz Global executive. Bankers criticize crypto, always goes back to the same argument: Intrinsic Value. Weiss rates weakest cryptos, says now could be a good time to build your portfolio. Especially with Abra adding 18 more cryptos for mobile investing – one of which is Litecoin, chosen over Bitcoin Cash. Also, Ethereum’s first production scaling project is here, but with a catch.
Ripple loses a lawsuit against R3 in San Francisco Court and it appears Tencent’s $2 Billion investment in Ripple (XRP) news might not be true after all. Guess who is leading the Blockchain patents race? Goldman Sachs. American Express patent filing touts Blockchain for faster payments.
Plattsburgh, NY just passed the first Bitcoin mining ban in the US and at the same time, there is a bill in the state’s assembly that promises to rid New York of Bitlicense fees. Puerto Rico aims to attract Blockchain startups with a new council. Bitcoin courses are popular with Illinois students and are on the rise across the nation.
Telegram(TON) ICO refusing investments from sanctioned persons and countries; might not have a public sale after all. So long ICOs, hello Airdrops. The free token giveaway craze is here – so don’t miss out. Whatever you do remember, Bitcoin thieves are no longer just an online threat.
Globally, Australian government concerned about scammers asking for cryptocurrencies as tax payment, French regulator blacklist 15 crypto investment websites, the Crown Prince of Liechtenstein wants to invest in crypto, Singapore Central Bank touts Blockchain for Cross-Border payments, crypto escapes scruntiny at China‘s annual consumer protection TV show, Cryptocurrency more of a commodity than a payments tool, says Taiwancentral bank governor, India‘s HDFC joins list of banks banning crypto purchases via card, Gibraltar plans to regulate ICO tokens as commercial products, Thailand delivers first draft of “Digital Asset” regulations, and soon there will be more Bitcoin investors than stock traders in Indonesia. Go down the rabbit hole click HERE for all the articles from the past 24 hours.
Happy Investing and Trading!