Happy Monday! If you are like me, your brackets are busted so bad that it’s comical. Thanks to UMBC and Texas A&M the entire left side is REKT. Meanwhile, Bitcoin is trying to pull a Tiger Woods and make a comeback. Carney at the G20 put some fire back under Cryptocurrency by saying it doesn’t pose a risk. Bitcoin returns above $8K, but sell-off risk remains. No, the Mt. Gox sell-off is not to blame for the recent dip in the market; as many were lead to believe. Ethereum Co-Founder says, Cryptocurrency is a burst bubble is “shortsighted.”
Tom Lee predicts Bitcoin to reach $91,000 by March 2020, based on performances after past dips. Bitcoin mid-term target is at $28,000 according to an analyst. Cryptocurrencies have a future, but which coins will succeed is anyone’s guess. There are 5 mistakes to avoid when buying Bitcoin:
- Inserting the wrong address
- Not waiting for enough confirmations
- Buying from services that have an exchange
- Paying via PayPal or credit card
- Buying due to FOMO (Fear Of Missing Out)
Jimmy Song a Bitcoin Core contributor says, programming Blockchain will change how you see Bitcioin. Mingo adopts the next generation of Blockchain technology for its three-in-one app using Hedera’s Hashgraph technology; this could be a game changer; although Jimmy is not a fan. Only 7.95% of American adults are into Crypto, Finder.com reports and it appears women are gradually catching the Cryptocurrency fever.
The adoption of Blockchain technology continues to gain steam. Intel thinks Blockchain could power a Next-Gen media rights manager and Blockpix is easing the Burden of image copyrights with the Blockchain. The hotel and travel property industry are being disrupted by Lockchain, which allows you to book hotels on the Blockchain. Parkgene makes peer-to-peer car parking a reality with Blockchain Technology and US Political group wants Blockchain for election transparency, people empowerment.
As use cases grow, the regulation does too; but in a good way. Cryptos don’t pose risk to financial stability says Carney on eve of G20. Arizona’s Blockchain “Node Rights” law is nearing passage. Banks are still nervous about Crypto and are talking about it in their filings. Mastercard is open to Cryptocurrency but only if it’s Nation State-backed. One day you ban the next day you don’t. Plattsburgh’s Crypto mining ban could end earlier than expected.
ICOs are getting iced. A 12-month freeze on US token trading is just beginning. Twitter is following Facebook and Google in banning Crypto-related ads. Federal Trade Commission files lawsuit, targeting deceptive Cryptocurrency schemes. Beware of the Fake PayPal Cryptocurrency email. PayPal is not asking people to cease any activity around trading Crypto.
Globally, Demand for Bitcoin hardware wallets rises in South Korea, as users develop awareness, Can Bitcoin thrive under China‘s new central bank chief? How Bitcoin brought the “Wild Wild West” to Iceland, Russian Cryptocurrency miners set to turn off all equipment in “Crypto Hour,” Blockchain Technology takes hold in Israel, Venezuela in store for more U.S. Sanction following the launch of the Petro, Czech based Crypto-fiat financial platform Saifu to make using Cryptocurrency as easy as using traditional online bank account, British IT Hardware supplier to build largest Bitcoin farm in the UK, and British Chancellor to turbocharge fintech by launching a new Crypto taskforce. Go down the rabbit hole click HERE for all the articles from the past 24 hours.
Happy Investing and Trading!