Welcome to my Cryptocurrencies Market Overview for Wednesday, January 17, 2018.
Today in the news:
- Another red day... It's red everywhere...
- Bitconnect closes virtually its entire operation, BCC token drops 87%.
- IBM is working with container shipping giant Maersk to create a blockchain-based platform.
- The world’s fourth largest bank is planning to launch a cryptocurrency exchange.
- Blockstream is putting the Lightning Network to the test on its live company store.
- And more crypto news below...
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Latest Crypto News - January 17, 2018
As Bitcoin's Slide Continues, Prices Look Towards $8K
Bitcoin looks like it might soon test near-$8,000 levels, as December's record-breaking rally continues to unravel.
Read more: coindesk.com
Other sources:
- Bitcoin slumps to $10,000, half its peak price, as regulatory fears grow (Reuters)
- Bitcoin drops below $10,000 with $30 billion of value wiped off in a day as cryptocurrency sell-off deepens (CNBC)
Bitcoin Declined by 30% Five Times in 2017, Recent Correction is Tolerable
As CNBC Africa’s CryptoTrader host and producer Ran Neuner noted, bitcoin declined by 30 percent on five different occasions in 2017. This month’s 20 percent correction in bitcoin is tolerable, given the major corrections it had experienced in the past 12 months.
Read more: newsbtc.com
Japan’s Largest Bank to Launch Cryptocurrency Exchange
As bitcoin trading becomes the new mainstream in Japan, leading financial firms are stepping in to offer services to preserve their market share. MUFG, the largest bank in the country, is now planning to launch its own exchange, a pegged cryptocurrency and bitcoin segregated accounts for clients of other exchanges.
Read more: bitcoin.com
Other sources:
BitConnect is shutting down its lending and exchange platform
Following months of red flags, Bitcoin investment platform BitConnect – which has long been suspected of running a Ponzi scheme – has officially announced its platform is shutting down.
Read more: thenextweb.com
Official source:
Blockstream Launches Micropayments Processing System for Bitcoin Apps
Bitcoin startup Blockstream has released a micropayment processing system that it claims makes it simpler to build bitcoin apps on top of its Lightning Network.
Read more: coindesk.com
Other sources:
More than 200,000 sign petition in South Korea to stop government's crackdown on bitcoin 'happy dream'
A petition in South Korea against cryptocurrency regulation has reached the number of signatures that would induce a government response.
Read more: asiaone.com
China’s Alibaba Launches Crypto Mining Platform Despite Restrictions, Say Local Sources
Chinese e-commerce giant Alibaba has launched a surprise cryptocurrency mining platform, unconfirmed sources surfacing today claim.
Read more: cointelegraph.com
IBM, Maersk Partner to Create Blockchain Platform for Shipping Industry
IBM is working with container shipping giant Maersk to create a blockchain-based platform that will help speed up processing and cut costs.
Read more: cryptovest.com
Other sources:
- IBM Unveils Joint Blockchain Company with the World’s Largest Shipper
- IBM And Maersk Start Promised Blockchain Supply Chain Company
Ripple Price Drops Below Dollar Parity to Punctuate 28% Skid
The ripple price fell below dollar parity this morning, punctuating the third-largest cryptocurrency’s 28 percent skid.
Read more: ccn.com