Daily Crypto Briefing – 03 April 2018

539

“To the people who say bitcoin’s a bubble,
I would say bitcoin is the pin that’s going to pop the bubble.”
– Jon Matonis, Cointelegraph

Another Happy Tuesday! Bitcoin price surges 6% to $7,350 as Cryptocurrency market gains $10 Billion; of course, once you read this it could be $7,500 or $7,000. This has led to Bitcoin dominance rising in the Crypto universe. Maybe things will begin to look up from here? What’s causing the rise? Could be a result of the Blockchain strategist Jeremy Gardner tweeting out this message:

“OTC market demand for bitcoin right now
is unlike anything I’ve ever witnessed.
Several asks for multi-billion dollar blocks…”

That said, Bitcoin must break $7,800 for bull reversal in order to pass the Acid Test. So, Bitcoin remains safe after “Death Cross” but a study finds crash cannot be averted. There are some Swiss researchers who say Bitcoin’s market value should fall by more than a third before year end. The terms Death Cross and Contango are terms of the stock and commodities market and could mean double trouble for Bitcoin.

Bitcoin’s lightning network is being attacked for its own good; the more than can be learned now will help the technology in the future.  If you’d like to create your own Cryptocurrency Gateway, WAVESGO will let you do that. Ethereum new rules for mining, staking, will happen once Casper update is complete.

$200 Bln UnitedHealth group unveils their first Blockchain foray. Cryptocurrencies are aiming to revolutionize the gambling industry. TD Bank seeks a patent to track payments on public Blockchains; that’s import to keep track of and could change the game. If you keep your eyes on the development and adoption of Blockchain technology, it will show you the way forward. A great example is Amber Baldet who is leaving JP Morgan Blockchain team to start a new venture; the industry continues to evolve.

Don’t forget the “Other” Cryptocurrency tax; when you are paying for goods and services with Crypto. There are ways for you to save on US Taxes as an “Active” Crypto trader. If you have Crypto there are ways to avoid an audit from the IRS, so don’t be the person that says, “They’ll never catch me” because 52% of people surveyed have said that.

A report says 9 Cryptocurrency hedge funds have closed in 2018; this is not an easy market to play in. Can they survive the bubble in 2018? Time will tell. SEC Halts Mayweather-endorsed ICO (Centra), Charges founders with fraud; not a good day for those guys. This lead Binance to issue Centra risk warning and possible delisting. Bank in Canada decided to Bank Bitcoin but this just led to the website Local Bitcoin trading volume to spike; you can’t ban Bitcoin.

Globally, Japanese Brokerage Firm May Acquire Hacked Coincheck Exchange, Bank of Japan Sets Up Crypto Q&A Page, New AML Rules forAustralia‘s Bitcoin Exchanges Kick In Today, Report: Russia‘s Gazprombank to Test Cryptocurrency Service, Stealing Bitcoin in China can Lead to a Seven-year Jail Sentence, China‘s Sinochem Completes Gasoline Export Over Blockchain System, Switzerland Leads Blockchain Offensive, Swiss Banker Named ‘Hodler’ Equates Bitcoin Investing With Gambling, Messaging Giant Line to Launch South Korean Blockchain Subsidiary, South Korea‘s Capital Is Planning to Launch Its Own Cryptocurrency, and Belarus Lays Claim to “Most Developed Crypto Country” Title

There is so much more going on and the only way to know is to click HERE for all the articles from the past 24 hours.

Happy Investing and Trading!

BONUS: Why Bitcoin is Different