🗞 Daily Crypto News, January, 8th💰
- Bitcoin Hits New 2020 High Above $8,400 After Iranian Missile Attack ;
- 4 Signs the Cryptocurrency Altcoin Market May Have Finally Bottomed;
- SEC Examination Office Gets Specific About Crypto Priorities in 2020;
- Abu Dhabi, Financial Giants Bet on Blockchain to Help ETF Ecosystem;
- Former Bakkt CEO Sworn Into Senate, Casts 1st Vote to Support Trump;
- 🗞 Daily Crypto News, January, 8th 💰
- STEEM Trading Update
Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!
Bitcoin’s price has hit a new record for 2020, reaching as high as $8,438 before retracing slightly.
At 23:30 UTC on Jan. 7, the world’s largest cryptocurrency by market capitalization began a strong upward trend from $8,080 to above $8,400 before topping out at $8,438 in just over 40 minutes.
The move to fresh 2020 highs comes after Iranian missiles struck U.S. and coalition bases in Iraq, causing traders to reallocate capital into safe-haven assets such as gold and oil away from riskier assets.
Joshua Green, head of trading at Digital Asset Capital Management - a cryptocurrency trading firm said the BTC rally was a response to the unfolding events in Iraq.
“You are also seeing oil and gold up strongly,” Green said.
Bitcoin (BTC) made a sudden jump of 9% in the past 24 hours. However, altcoin cryptocurrencies have been showing strength recently as well.
Recent surges from large caps have been in the double digits with Dash (DASH) surging 50% and Bitcoin Cash (BCH) 30% in the past four days. Is it possible to draw a conclusion that the altcoin market capitalization is potentially bottoming? Let’s find out.
Altcoins retraced to their cycle lows
Many altcoins have reached their cycle low levels, which means that many of them hit levels not seen since before the bull market in 2017, and some have even dropped to their January 2016 levels. One example is Dash.
The Securities and Exchange Commission (SEC) will continue its evaluation of cryptocurrency-based securities for U.S. retail investors.
The SEC's Office of Compliance Inspections and Examinations (OCIE) published its list of 2020 examination priorities, highlighting digital assets and service providers as areas of concern. While OCIE has listed these items in previous annual priority lists, Tuesday's publication provided a glimpse at how the office's approach to crypto has evolved since 2018.
Whereas previous priority lists only briefly mentioned initial coin offerings and the risks digital assets might pose to retail investors, this year OCIE wants to address investment suitability, trading practices, fund safety, pricing and the effectiveness of compliance programs. The document also mentions staffers of crypto exchanges and funds and the "supervision" of their "outside business activities."
New York-headquartered international investment giant WisdomTree Investments together with Abu Dhabi Investment >Office (ADIO) and other investors invested in Securrency, as they aim to integrate blockchain technology into the exchange-traded fund (ETF) ecosystem.
Securrency, a Washington-headquartered developer of institutional-grade blockchain-based financial and regulatory technology, raised USD 17.65 million in a Series A funding round, which was led by WisdomTree as a strategic investor.
Besides ADIO, other participants in the round include Japanese financial services giant, Monex Group (the owner of the Coincheck exchange), and venture capital firms RRE Ventures, Strawberry Creek Ventures, and Panthera Capital Investments, according to WisdomTree.
"Through this investment and its collaboration with Securrency, WisdomTree plans to pursue the integration of blockchain technology into the ETF ecosystem to bring the benefits of ETFs to a broader range of investors and improve the investor experience," added the company with USD 63.8 billion in assets under management.
Kelly Loeffler, former CEO at the Intercontinental Exchange (ICE)-backed crypto trading platform Bakkt, has been sworn into the United States Senate.
In a Jan. 6 tweet, Loeffler announced that she was sworn into the U.S. Senate by Mike Pence, the Senate’s chief officer, to become Georgia’s newest Senator.
Loeffler casts first vote to support Trump’s pickto lead the Small Business Administration
In the announcement, Loeffler said that she had already cast her first vote to support U.S. President Donald Trump’s pick to lead the Small Business Administration, an autonomous U.S. government agency designed to assist small businesses in the country.
🗞 Daily Crypto News, January, 8th💰
- Conceal (CCX)
Expected date for our network’s forthcoming Deposit Revamp hard fork is January 8, 2020, the hard fork will activate at block 413,400.
- Nebulas (NAS)
"The Nebulas #PoD consensus mechanism will go live on the testnet on January 8th!"
- Bitcoin Rhodium (XRC)
"A new update for the Identity Wallet will be released on January 8!"
- Chainlink (LINK)
- Storj (STORJ)
STEEM Trading Update by my friend @cryptopassion
Here is the chart of my last analysis :
Here is the current chart :
The STEEM is not moving at all, staying sticked to the support line at 0.124$. It looks like not all the altcoins are enjoying the bounce on the BTC. Are we starting again a new BTC dominance where all alt coins are dropping while BTC is taking value... it is possible. Let's see what will happen in the coming days and let's hope that the support line at 0.124$ won't be broken on the STEEM.
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