Up or Down, Which Way Are The Crypto Markets Going?

Yesterday news came out the Mt. Gox trustee, aka the Tokyo Whale, sold another $230 million of BTC and BCH.

The market quickly fell on the news and the day started to feel like September 5, where the market shed $40 billion in a matter of hours.

Fortunately, we were quickly able to find support. The market is moving up today. And it looks like some coins are finally responding to good news. Let’s see what’s going on.

Once piece of good news was that Google would be easing its ban on cryptocurrency-related advertising. While there are some strings attached, it’s an overall positive for the crypto market.

Circle officially released its USD Coin which trades under the symbol USDC. Each coin is fully backed by US dollars. The USD Coin will reportedly be available on Circle’s Poloniex exchange, as well as Huobi, OKCoin, KuCoin, and digital wallet and exchange Coinbase. Perhaps with USDC and others we’ll avoid a Tether (USDT) debacle.

There was also Coinbase, which announced a new listing process for new coins. The significance being the new process will enable Coinbase to add new coins more rapidly.

The biggest winners today are XRP and BCH.

Many believe XRP will be one of the first new coins added by Coinbase. It’s up 20% today.

BCH rallied on the news that Bitmain filed for its IPO. The thought is a good amount of money raised by Bitmain will go towards BCH development.

I still pass on Bcash, what about you?

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