Crypto Daily Briefing – 26 March 2018

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“The real vision is that you have a network, much like the internet, that anyone can participate in […] That’s the key thing to make these things successful.”
– Jed McCaleb on the need to be decentralized

Happy Monday! Are we in a “Crypto Winter?” Maybe we could use the CBOE Bitcoin futures to predict underlying Bitcoin price direction. Trapped below $9K, Bitcoin risks downside break, Ethereum falls below $500, Litecoin price approaching key break, Ripple bearish below $.65 and can Stellar break it’s support level?

How big will Bitcoin become is anyone’s guess but Expert David Drake says Cryptocurrency could be valued at $30,000 by end of the year. That said, Sorry Jack, Bitcoin will not become the global currency. However, for the world’s “unbanked” Bitcoin is the future. Bitcoin, Ethereum, and Litecoin are the most popular Cryptocurrency investments among Millennials; a Safe-Haven asset?

Bitcoin will see significant improvements in privacy and scale which could impact the price trend. However, Edward Snowden’s big problem with Bitcoin is privacy, not scalability. Co-Founder of Ripple and Stellar (Jed McCaleb) says Blockchain needs to be decentralized to be successful. Did you know you can now send $10,000 for 1 cent? Bitcoin transaction fees hit “unfairly cheap” levels. Smart contracts are coming to the Litecoin Network soon. NEM opens testing platform to developers and releases new funding guidelines. Token swaps between NEO and Ethereum are now possible.

Blochain adoption continues as TradeWinds Market launch a new platform aimed to give gold a digital edge. XYO Network is taking the Blockchain to the real world by storing and verifying locations of physical items.  Yoo-Mi PHA is personalizing wellness on the Blockchain by offering rewards to motivate. Tennessee passes a bill that recognizes Blockchain, smart contracts for electronic transactions. JP Morgan considers making Blockchain platform Quorum an independent entity and Exec who published first Wall Street BTC price analysis is becoming the Co-Founder of a Blockchain Fund.

Regulation continues to progress around the world. SEC official frets over Crypto market manipulation and if you held Bitcoins in 2017 put your tax return on an extension if you need more time to figure things out. The Axeman cometh because the US Gov’t has cut Bitcoin Futures Watchdog CFTC’s budget.

Bitcoin miners need a BTC price of $2,400 to break even; still got a ways to go before we get there. Also, Monero is going to war against Big Miners with a Crypto Kill Switch. High-profile strategic partnerships are the path to ICO legitimacy according to the experts. Big Banks could eventually warm up to Bitcoin and Ripple and proof of that is Santader. They will launch Int’l payment app with Ripple this spring if no one beats them to it.

These Podcasts Are Essential Listening For Anyone Who Invests In Cryptocurrencies:

Globally, Crypto Taxation In European Union Varies Drastically, France Plans to Support (Regulate) ICO Startups, UK Charity Taps Blockchain Platform to Boost Trust in Donations, UK Government Minister Calls for ‘Proportionate’ Crypto Rules, Russia Drafting Blockchain Legislation to Speed Up Adoption, Russian Official Refutes Country’s Role In Venezuela’s Petro Cryptocurrency, Another Cryptocurrency Firm Moves to Malta Following Binance, Due to Government’s Support, Malta Wants to Become The ‘Blockchain Island’, With World’s Largest Cryptocurrency Exchange, Australia’s Pro-Crypto Stance Continues as Politicians Invest in Bitcoin, Sierra Leone: What We Got Wrong, Paxful Trading Volume Shows Popularity Of Bitcoin In Africa Continues To Grow, Nigerian Regulator Warns Against Crypto Transactions Since They’re ‘Not Insured,’ Uganda‘s bitcoin enthusiasts, Crypto Investors Should Stay Away from Venezuela’s Petro, and China Filed The Most Blockchain Patents In 2017. Go down the rabbit hole click HERE for all the articles from the past 24 hours.

Happy Investing and Trading!

BONUS: Where US Cryptocurrency Regulation is Heading