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Cryptocurrency Morning Brief

May 08, 2018

  • Major cryptocurrencies continue to lack upside momentum from last week’s rally as Bitcoin remains below USD$9,300.00, after hitting USD$9,900 last week
  • Reportedly the New York Stock Exchange (NYSE) is considering letting customers purchase Bitcoin via a one-day swap contract with the NYSE backing the transaction
  • The US Federal Reserve Bank of San Francisco released an economic letter suggesting Bitcoin’s collapse can be explained by the introduction of Bitcoin Futures, allowing skeptics to short Bitcoin
  • The SEC continues to debate on whether Ethereum (ETH) qualifies as a security or not and is reported to decide this month. If deemed a security, ETH will be required to be traded on registered exchanges
  • BMW is piloting a blockchain platform to track mileage in leased vehicles through its startup innovation program
  • Cloud-based company, Oracle, is working with the Banco de Chile to log inter-bank transactions on a hyperledger and is also using blockchain technology to assist Nigeria with its custom and import duties
  • Quantamize’s Crypto Signals are on day three of a rolling 3-day signal forecast (see Quantamize Crypto Signals), and 9 signals are buys
  • Bytecoin (BCN) has experienced an extremely sharp rally since our “Buy” signal was produced; the cryptocurrency is up ~142% during the 3-day period