Crypto News Round-Up November 21
WAR — WHAT IS IT GOOD FOR?
BCH War Good For Australian Exchanges
Two interesting tidbits from Business Insider Australia’s coverage of the Great Bitcoin Price Crash. 1. Trading volumes have shot up by 200% since the start of the hard fork of Bitcoin Cash, on both Independent Reserve and Huobi. “Like other exchanges around the world, we have seen increased trading volumes as volatility has increased, particularly in the last week,” said Derek Henningsen, head of legal & compliance for the Australian office of the global Huobi. 2. Both sides of the Bitcoin Cash war are mining blocks at a loss in an attempt to ‘win’ and dumping large amounts of crypto onto the market to finance it.
COULD BE WORSE
Yes The Sell-Off Is Rubbish, But It’s Been Worse in 2015
With $60 billion erased from the crypto market cap in the past week, many are wondering if the bubble has finally popped. BTC is down 75% from January and dipped below $4200, a price last seen in October 2017. But wiser/dumber heads have seen all this before in 2013–2015 when BTC bottomed out 86% below its former high. The bad news for history buffs is that it trundled along the bottom for another ten months before a new uptrend.
ADOPTION
The Philippines Not Keen On Issuing Own Crypto
While the rest of the world is jumping on the digital currency bandwagon, the Philippines is apparently not considering issuing their own crypto. In response to the International Monetary Fund (IMF)’s proposal that governments should consider offering their own digital currencies, the deputy governor of the country’s central bank expressed concerns on whether digital assets can be considered as money due to their high volatility.
INNOVATION
IBM Blockchain Launches Netting Service
After American Express announcing that Ripple’s XCurrent is officially used for its overseas payment yesterday, IBM Blockchain has introduced its cryptographic”netting” service. Netting allows companies to consolidate payments across currencies, time zones and national boundaries. It also helps forecast cash flows.
BITCOIN
Tom Lee Won’t Back Down on Bitcoin $15,000 Year-End Prediction
Despite Bitcoin’s tumultuous plummet over the last 48 hours, Fundstrat co-founder Tom Lee stands firm on his end of year Bitcoin prediction of $15,000. On the topic, Lee stated “the next wave of adoption is institutional…there is a crossover happening. This is just an awkward transition.”
JOB OFFERINGS
Blockchain Job Interest Declining
With crypto market capitalization shrinking, the job seeker interest for positions that are related to the blockchain, crypto and bitcoin has declined over the past year. According to the report from job-search site Indeed.com, job seeker interest drops by 3.06% while employer interest rises 25.49%. Salaries for blockchain developers could reach as much as $175,000.
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Originally published at nauticus.exchange on November 21, 2018.
