November 27th, 2017
In my humble opinion...
if the FOMO wasn't hitting before, it sure is now.
— Charlie Bilello (@charliebilello) November 26, 2017
Coin of the Day Easy and cheap asset trading
(CRYPTO: TIO) Trade.io was founded by a team who has set out to disrupt traditional banks that have been using FinTech for years for their own benefits, without sharing the technology with their clients. They envision themselves to be a next-generation financial institution, offering easy and cost-efficient means of asset trading – not just cryptoassets but also forex, commodities, precious metals and more. Their ambitions also include a liquidity pool, where holders of their tokens (Trade Tokens) can contribute to a P2P liquidity pool with their assets. At the end of each day, 50% of the revenues from the pool will be paid off to the contributors in proportion to their contribution.
It's only a matter of hours before Bitcoin hits $10,000 – and the theories are ramping up as to why the market's been so blissfully bullish the past few weeks.
Happy turkey day, indeed. As of last night, Bitcoin's high for November 26th was around $9,800, rounding out a pretty incredible weekend. In a defining moment for the cryptocurrency, Bitcoin surpassed the $9,000 benchmark and has been steadily making its way towards $10k for almost a full day now. Why has the market looked so fantastic as of late, and how come Bitcoin feels practically unstoppable? Well, there are a few leading theories.
Mainstream acceptance is at an all-time high (though there's still plenty of room to grow), with the Chicago Mercantile Exchange offering Bitcoin futures in mid-December. Several banks, including JPMorgan (whose CEO Jamie Dimon is less than bullish on Bitcoin) have been eyeing this service. Interesting.
South Korea's second largest bank is testing a Bitcoin vault and wallet that will likely be available in mid-2018. The motivation: the frequent hackings that occur on South Korean exchanges (we're looking at you Bithumb) have prompted local banks to take matters into their own hands.
Cyber Monday...a less, um, appealing option, and probably does't hold up. But America likes to think it's the center of the world, so we can at least guess that people sitting around for Thanksgiving were preaching the good word (of crypto) to their relatives.
Regulation in the U.S. is haunting traders and investors – both crypto and traditional. What kind of progress have we seen thus far?
Everyone can take a deep breath and relax. South Korea does not plan to regulate cryptocurrency, unless they were to be officially recognized as a currency in the Asian state. This is fantastic news, as South Korea, like many other Asian giants, is an early tech adopters. Death of crypto in South Korea would have been relatively severe. So we're happy, for now. By the way, national banks across the globe have been working intensely on integrating crypto and blockchain into their system – and CEO of Sberbank, Herman Gref, had some interesting thoughts on this relationship in a recent statement:
"Protectionism is just the first reaction of the state. However, both the institution of private money and the states, which will dare to change the way currency is issued, will eventually find a place for cryptocurrencies in the economy,”
Oh, and the reports that Israel was planning to ban ICOs? Totally fake, and actually surprised our team seeing as Israel is an incredibly pro-crypto country; their entrepreneurial base is world-renowned, thus we're confident that the state is strongly in favor of almost all emerging tech. Still not convinced crypto's playing a role in the real world? Look to Spain, where it was recently uncovered that Catalonia's referendum to secede from Spain was allegedly paid in Bitcoin. Crypto: Fueling revolutions since 2009.
65% of millennials think putting their savings into Bitcoin is safer than a savings account. Gulp.
Ethereum's founder Vitalik Buterin laid out a scalability plan for the token, but failed to address the ongoing Purity wallet fiasco that cost ETH holders $160 million.
The best thing to help you prepare for the next big stock market crash? Cryptocurrency makes a strong case.
Coin to Watch
Bitcoin Gold (BTG) is new to the market (thanks to a controversial fork), and we encourage you to do some research on the project. We're interested to see where this goes, and how sustainable the project ends up being.
Correction will be deep. We need noob top buyers to get baptized with blood.
— Crypto de' Medici (@cryptodemedici) November 27, 2017