Weekly CryptoReport: 15-19 January

Weekly CryptoReport: 15-19 January

Bitcoin could be here for 100 years but it's more likely to 'totally collapse' - Robert Shiller, Nobel laureate, Yale University Professor of Economics, co-founder of Case-Shiller Index

This week demonstrated us the real collapse of Bitcoin, but what else happened on the cryptocurrency market, let’s sum up.

  • Bitcoin is under tax. Israel is going to tax companies who get profit from cryptocurrencies. Furthermore, individuals whose profit is at the business level will pay too.
  • Bitcoin is not a competitor for Visa. The Chief Executive Officer of Visa Alfred Kelly claimed that. Kelly said that Visa will not work with this currency too because Bitcoin is not confirmed to be a real currency by the government.
  • Two cryptocurrency ETF-funds were launched by the stock exchange “Nasdaq” despite the reluctance of the SEC. They will invest in blockchain start-ups.
  • Ethereum in the Space. NASA gave a grant of $330K on the development of a communication system between satellites with the use of blockchain Ethereum.
  • A new leader on the crypto stock exchange market appeared. The South Korean crypto stock exchange Upbit is the first by volume of daily trading. An important fact is that it was launched just in November 2017.
  • The hugest Japanese bank Mitsubishi UFJ Financial Group is expanding on the crypto market. It applied for its own crypto stock exchange. Also, it plans to create service for traders. But what is more, it is going create its own cryptocurrency MUFG Coin pegged to the JPY.
  • Scientists of Cornell University compared Bitcoin and Ethereum and found out that Ethereum network nodes are better internationally located than Bitcoin nodes. It means that Ethereum is more decentralized than Bitcoin. However, decentralization is under the big question.
  • The most expensive. ICO Telegram is planning to engage $1,2 billion, it never happened in the history. However, the thing is that this information is not confirmed.
  • BitcoinCash is growing. Currently, the number of transactions is 110K, that is the half of Bitcoin transactions.
  • Fenbushi Capital lost, Ethereum won. Vitalik Buterin is not a General partner of a Chinese venture fund Fenbushi Capital that invests in blockchain start-ups anymore. We hope that it will give him more time for Ethereum project.
  • Lightning Network has started to work. It was launched on 35 nodes, that is too little. But it gave good chances for the realization of the project of payments with minimum commissions.
  • Joint venture. A.P. Moller-Maersk and IBM claimed their interest to form a joint venture with the use of blockchain.
  • El Petro is under the US ban. The US government forbade American investors to support the Venezuelan cryptocurrency because of the sanctions.
  • BitConnect – financial pyramid. BitConnect officially announced the termination of work. However, the website BitConnect.co will serve e-wallets and present news.
  • It seems like the Alibaba Group does not care about the possibility of cryptocurrency ban in China. Alibaba launched a platform of cryptocurrency mining. But the information is unofficial.


What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

USD Moves Weird Ahead of CPI
USD Moves Weird Ahead of CPI

The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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