Blockchain and Cryptocurrency: People, Culture and Tech
To do that, it will need to continue attracting large institutional investors. And to do that, Bitcoin would have to become far less volatile than it is now. That’s already happening, the JPMorgan note pointed out, with an analyst suggesting that there’s “little doubt that the institutional flow impulse into Bitcoin is what distinguishes 2020 from 2017.”
On Thursday, Bitcoin continued its consolidation below all-time highs seen earlier in the week, this in turn following on from wild volatility which characterized Monday and Tuesday. That consolidation first focused on $19,000, with a shift in emphasis slowly taking the market higher.
Arca Chief Investment Officer Jeff Dorman said in a note on July 2 that after a “brutal [June] with unprecedented volatility,” the U.S. Securities and Exchange Commission (SEC) is unlikely to approve cryptocurrency index funds (also known as exchange-traded funds) anytime soon.
Bitfinex Took 630 Million Tether Out of Circulation After Drop Below $1 (CoinDesk) Tether supply in the market (though not tethers outstanding) has fallen at a rapid clip since prices fell below a buck. There’s speculation that Bitfinex (which, like, is practically the same company as Tether) essentially “redeemed” the tokens for less than they sold it for (assuming they actually sold it to buyers and didn’t just print it with no backing). Visa Set to Launch Blockchain-Based Digital Identity System with IBM in Q1 2019 (CoinTelegraph) Two names we always think about at the cutting edge of technical innovation—Visa and IBM—are teaming up. “The system, dubbed Visa B2B…
