Welcome to my Cryptocurrencies Market Overview for Tuesday, December 19, 2017.
Today in the news:
- One of Japan’s largest used car automotive groups has partnered with the country’s largest cryptocurrency exchange Bitflyer to enable bitcoin payments.
- A hedge fund run by legendary investor Bill Miller is now half invested in bitcoin.
- Bitcoin drops by 4% while Bitcoin Cash breaks through the $2,300 resistance.
- And more crypto news below...
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Latest Crypto News - December 19, 2017
Bitcoin Price Drops by 3% and Everybody Panics for No Reason
Although the year 2017 has been pretty positive for the Bitcoin price, all positive momentum will come to an end eventually. The Bitcoin price is suddenly dropping pretty hard, as it’s evident people are cashing out with the Christmas holidays almost upon us. No one knows for sure how bad things will get, but for now, it’s time to diversify into altcoins.
Read more: themerkle.com
More sources about Bitcoin's price:
- Bitcoin Risks Bearish Price Reversal as Altcoins Surge (Coindesk)
- Bitcoin falls below $18000 milestone (Businessinsider)
Bill Miller's hedge fund has half its money in bitcoin
A hedge fund run by legendary investor Bill Miller is now half invested in bitcoin. "It's just about 50 percent right now," Miller said regarding his MVP 1 fund on the WealthTrack podcast with Consuelo Mack released last week.
Read more: cnbc.com
Other sources:
- Well-Known CIO Bill Miller Invests 50% of Hedge Fund in Bitcoin (Cointelegraph)
Major Japanese Automotive Group and Dealerships Embracing Bitcoin
One of Japan’s largest used car automotive groups has partnered with the country’s largest cryptocurrency exchange Bitflyer to enable bitcoin payments at its dealerships across Japan. Starting with 26 dealerships, the company also plans to add bitcoin payments to 550 additional locations.
Read more: bitcoin.com
Korean Cryptocurrency Exchange Youbit to Close After Second Hack in a Year
South Korean cryptocurrency exchange Youbit has revealed plans to file for bankruptcy. The decision to close operations follows announcements that the exchange was hacked for the second time this year.
Read more: bitcoin.com
Other sources:
Bitcoin Cash Price Breaks Through $2,300 Resistance
Even though the Bitcoin price is struggling to find stable ground right now, most altcoins are doing just fine. In an ideal world, no alternative currency would be linked to Bitcoin, but that won’t be the case anytime soon. Bitcoin Cash has gained quite a lot of momentum in the past week. With its value peaking above US$2,300 once again, the road to a new all-time high is still wide open.
Read more: themerkle.com
Other sources:
Bitcoin Q&A: Borderless money
Are cryptocurrencies subject to the same border restrictions as foreign currency and cash? Where are bitcoins "located"? What happens when money is data? What are the geopolitical implications of borderless money? Andreas M. Antonopoulos shares his thougths.
Danish Central Bank Chief Warns Investors to “Stay Away” From Bitcoin
Denmark’s central bank governor dubs Bitcoin “deadly”; says individuals need to be better informed, regulation is not the responsibility of authorities.
Read more: cryptovest.com
Other sources:
$240 Bln Japanese Company To Pay Employees in Bitcoin
Japanese company GMO Internet will start offering employees a portion of thеir salaries in Bitcoin, as of February 2018. The company, a holding of businesses that employs over 4,000 people total, will give employees the option to receive up to 100,000 yen ($890) monthly in BTC.
Read more: cointelegraph.com
Digital Currency Dash Surges Past $1,000 Barrier to New High of $1,250
This past weekend, Dash became the first digital currency without the word “Bitcoin” in its name to breach the $1,000 barrier. Dash began the year at $11.26, while its price at press time has now reached $1206, a 107-fold increase in just less than a year. In fact, even Ethereum’s tremendous surge is less than Dash’s gains, with Ethereum having seen 99-fold growth in 2017.
Read more: cointelegraph.com
EOS Shoots to $11, Inviting More Investment
EOS stalled before taking over the $10 mark, but afterwards became unstoppable, getting bit up to more than $11.
Read more: cryptovest.com
Another 50 Million USDT Just Added, Propping Up Bitcoin Price
December is not over yet, but more than 500 million USDT was added, coinciding with an unprecedented rally across all coins.
Read more: cryptovest.com
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