Image Of The Day, 8 Of August: CNBC, Business Insider, Bloomberg And Others
1. THE ETF DILEMMA (CNBC)
Bitcoin fell sharply on Wednesday after the U.S. Securities and Exchange Commission (SEC) delayed a decision on a proposed bitcoin exchange-traded fund (ETF), which would have been the first financial product of its kind.
Cryptocurrency markets fell as a result. Bitcoin was down around 6.7 percent from 24 hours ago at 1:05 p.m. New York time, trading at just under $6,300, according to data from CoinDesk.
2. GROUNDBREAKING LOSSES (MarketWatch)
The total value of all cryptocurrencies fell to its lowest level in 2018 as the price of the No.1 digital currency, bitcoin fell by as much as 10% Tuesday after the Securities and Exchange Commission delayed the ruling on a proposed bitcoin-related exchange-traded fund from VanEck and SolidX.
The market cap for all digital currencies fell to $230 billion in Wednesday trading, its lowest level since Nov. 17, and $600 billion off its all-time high on Jan. 7.
3. A BELIEVER (Quartz)
Blockchain euphoria is giving way to blockchain fatigue
Despite the hype, only 1% of executives in a survey reported deploying the technology at their firms. And while corporate management remains bullish about distributed ledgers, mentions of “blockchain” are on the decline during conference calls.
But IBM, which has roots going back more than 100 years, still thinks the technology that underpins bitcoin has untapped potential and requires more time, as all new technologies.
4. A CHANGE IN NARRATIVE (TheNextWeb)
Study Provides a look at changing bitcoin narratives
Last week Nic Carter, the partner at Castle Island Ventures and co-founder of Coinmetrics.io, published an interesting study that looks at the ever-changing narratives tied to Bitcoin technology.
Carter and his fellow researcher Hasufly scraped up a lot of data stemming from Bitcointalk.org posts over the years that highlight some of the community-derived visions of what Bitcoin should be and how these visions have changed over time.
5. UNDER A PRESSURE (Business Insider)
Bitcoin is under pressure and leading the market lower
Bitcoin is down 2.8% to $6,531.86 at 8.15 a.m. BST (3.15 a.m. ET). It extends a slump for the cryptocurrency, which has fallen 13% since the start of the month.
"In the short terms, technical analysis is still on the bears' side. The benchmark currency [bitcoin] doesn't have important levels of consolidation near current trading marks. It means that after a short pause the bitcoin could slide down to the nearest consolidation level close to $6,200 mark, and even lower to $5,800."
6. PRIVATE PARTY (Bloomberg)
Initial coin offerings have raised $18 billion for blockchain startups this year, almost five times last year’s total, according to CoinSchedule. But unlike 2017, this is increasingly due to blockbuster sales that targeted accredited (read: wealthy) investors instead of just anyone with an internet connection.
As regulatory scrutiny intensifies, many startups are finding it simply easier to raise money from private investors, whose interest in digital assets has also grown. This has made cryptocurrencies a little less like the Wild West and more like traditional venture investing.
7. ETHEREUM WILL RISE AGAIN (YAHOO FINANCE)
Ethereum Rebound Is Only a Matter of Time
Earlier this year, ETH became a hedge of sorts within the wild virtual-currency markets. By the beginning of February, the crypto-coin had “only” lost about 19% of value from its all-time high. This compared very favorably to bitcoin, which lost 52%.
Traditional investments are losing relevancy with the younger generation. Cryptocurrencies have experienced the opposite effect, which is a net positive for a credible token like ETH.
8. THE CRYPTO OPERA (TheNextWeb)
Opera plans to add a cryptocurrency wallet to its desktop browser
Handling cryptocurrencies is about to get easier, as Opera becomes the first major desktop browser to include a cryptocurrency wallet, negating the need for third-party extensions or applications.
“After making crypto payments smooth and easy on mobile, we wanted to find the perfect solution for PCs”, said Opera EVP of Browsers, Krystian Kolondra, in a statement. “We realized the best way is to utilize our new mobile crypto wallet technology and to give our PC users access to it”.
Alternative investments have become a standard within the portfolios of many investors. The market hit record numbers in 2016 and shows no signs of slowing down. But investing still requires intermediaries and centralized exchanges.
A fintech company that offers investors a transparent process to access trusted alternative investment opportunities, has developed a blockchain-powered distributed ledger to provide enhanced transparency, security, and trust to the alternative investment industry and the global financial market.
10. POOR MAN’s GOLD (news.bitcoin)
Poor Russians More Aware of Crypto Than the Rich, Poll Finds
A recently conducted survey has produced interesting results regarding how much Russians know about cryptocurrencies. People with lower incomes have been found to have a better idea of digital money than their rich compatriots. At the same time, general awareness of cryptos seems to be falling along with their prices.
The majority of Russians do not quite understand what cryptocurrency is and have no intentions to acquire digital assets, according to a new poll released by Romir Holding, one of Russia’s largest market research companies. The survey has been carried out among 1,500 adults, 18 years and up, from across the vast country to determine how important the crypto topic is for Russians these days.