Welcome to my Cryptocurrencies Market Overview for Thursday, January 18, 2018.
This was published by the The Federal Reserve Bank of St. Louis today:
“It is likely that cryptoassets such as Bitcoin will emerge as their own asset class and thus have the potential to develop into an interesting investment and diversification instrument. Bitcoin itself could over time assume a similar role as gold.”
And...
“As an asset, however, Bitcoin and alternative blockchain-based tokens should not be neglected. The innovation makes it possible to represent digital property without the need for a central authority. This can lead to the creation of a new asset class that can mature into a valuable portfolio diversification instrument.”
And...
It could be argued that, in some ways, the Bitcoin protocol is more robust than many of the existing fiat currency protocols.
Wise words! I didn't expect that from a central bank.
Here's the full paper:
A Short Introduction to the World of Cryptocurrencies by the St. Louis Fed.
24 Hour Change
Realtime chart on my website CoinMarkets.today
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Month-to-Date Change
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Market Capitalization
Bitcoin daily chart
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Latest Crypto News - January 18, 2018
Cryptocurrency Market Recovers as Bitcoin, Ethereum, et al. Spike 20%
After experiencing a 2-day slump during which the price of most cryptocurrencies including bitcoin, Ethereum, Ripple, and Bitcoin Cash declined significantly, the cryptocurrency market has started to recover.
Read more: ccn.com
More sources:
- Green Light for Crypto: Market Gets Back on Its Feet
- Bitcoin Is Back Above $11500, But Bulls Not Out of the Woods Yet
- Bitcoin’s bloodbath was totally normal, and now offers ‘the biggest buying opportunity in 2018’
St. Louis Fed Sees Future in Crypto As Important Asset Class, Bitcoin As Digital Gold
The Federal Reserve Bank of St. Louis has published a paper entitled “A Short Introduction to the World of Cryptocurrencies” with an overall favorable assessment of digital currency and Blockchain applications for the future.
Read more: cointelegraph.com
South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations
South Korean government officials have reportedly been caught insider trading. They sold all of their cryptocurrency holdings and profited just before the regulators announced crypto regulatory measures. The country’s Financial Supervisory Service is investigating the case.
Read more: bitcoin.com
Other sources:
- South Korea: Gov’t Officials Accused of Crypto Insider Trading
- Korean Regulator Investigating Staff Insider Trading of Cryptocurrencies
GDAX Starts BCH Trading, Users Angry About Focus
GDAX has started trading Bitcoin Cash (BCH) this morning as of 9 AM PST, with little fanfare.
Read more: cointelegraph.com
Cryptocurrency Activities Will Be Legal and Tax Free in Belarus Starting in March
The decree signed by Belarusian president Alexander Lukashenko which legalizes cryptocurrencies, initial coin offerings, and smart contracts, will enter into force in March. Cryptocurrency activities are not restricted by the decree and will be tax exempt until 2023.
Read more: bitcoin.com
First Bitcoin Futures Contract Expires At $10,900, ‘Win for Bears’
The Chicago Board Options Exchange (CBOE)’s first Bitcoin futures contract closed Wednesday, Jan. 17, at $10,900 after a relatively turbulent week in the crypto market had briefly brought Bitcoin’s (BTC) price below $10,000.
Read more: cointelegraph.com
Tapscott on South Korea Crypto Ban: It Could Mean Economic Ruin for Decades
Don Tapscott, blockchain advocate and best-selling author, believes that South Korea would be doing the world and itself a disservice by banning cryptocurrency trading within its borders.
Read more: cryptovest.com
Bitcoin Sucks, But Don’t Underestimate Bitcoin 2.0 (Lightning Network)
The deployment of Lightning will be the biggest change to Bitcoin ever. If it works, it reintroduces Bitcoin as a usable daily currency, unhindered by stuck transactions and high fees.
Read more: hackernoon.com
‘Impossible’ to Shut Down Cryptocurrency Exchanges, Govt. Lacks Authority: Korea’s Fair Trade Chief
The chairman of Korea’s Fair Trade Commission – the economic competition regulator – has blasted efforts to shutter cryptocurrency exchanges before calling on the government to regulate the industry instead.
Read more: ccn.com
Hardware Wallet Maker Ledger Nets $75 Million in Series B Funding
Ledger, the France-based maker of hardware cryptocurrency wallets, has raised $75 million in Series B funding.
Read more: coindesk.com
