Good morning traders!
The big story doing the rounds in crypto is American Express joining Ripplenet, which will bring transparency and speed into the business. What is Ripplenet? It's just a modernized payment platform and gateway. Check it out on Ripple.com
Catch up on the full story on CNBC. What i picked up, is that the initial channel will be set up between UK and U.S. Some of the other bigger names have already joined Ripplenet - Credit Agricole, Airwallex etc.
Original Announcment by Ripple
What else? Oh yeah, someone took a $10 million hit when his position on OKCoin futs got creamed.
Source: Whalepool via Twitter
Someone on Reddit even posted the screenshot of that very moment the pos got liquidated
But there's more important news on crypto!
It seems the crypto market is evolving. Whethet the drirection is good or not, is up to you and how take advantage of it.
Coinbase announces Coinbase Custody, a platform for institutional investors. Coinbase Custody will feature insurance, dedicated customer reps, strict controls and other things institutional investors need.
Brian Armstrong, Coinbase CEO, argues that there is approximately 10 Billion of institutional investor money waiting to enter crypto markets.
Brian Armstrong on medium.com via Joseph Young
Check it out on https://custody.coinbase.com/
So do i have some thoughts on the crypto charts? Why yes i do!
On BTCUSD, the high is taken out and looking mighty bullish. But in one of my earlier posts, i argued, how not to be a bagholder on Bitcoin. And this is the time for a cautious investor to step out. Relative Strength is not following suit. It doesn't mean BTC will crash, but there are sure to be better opportunities.
And Ripple? Meh, look elsewhere for spectacular opportunities. Bias is "buy the dips" within the range, though.
Thank you for reading and TGIF! Weeknd is approaching - try not to do your arses on a Friday.
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