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Cryptocurrency Midday Report

May 30, 2018

  • The BlockShow Europe 2018 ended yesterday which featured Wikipedia founder Jimmy Wales and BTCC co-founder Bobby Lee. This year’s conference was five times bigger than last year’s, and twice as large as the BlockShow Asia. Over 3,000 people attended and 93 companies held exhibitions at the event. won the best startup and took home a EUR€50,000 prize. Switzerland took home the first-place prize for the friendliest nation in Europe for in terms of starting a blockchain company
  • Deloitte has issued a report that blockchain could disrupt and transform the retail value chain. The firm estimated that the enterprise blockchain industry could be worth USD$176bn by 2025 and that many companies will be utilizing blockchain technology. The biggest issue blockchain will tackle in the retail space will be traceability according to the report, an issue which costs the retail space millions every year
  • The South Korean Government has seized 191 Bitcoins (BTC) in a cybercrime case in which the accused individual has now been sentenced to jail. The South Korean court recently ruled that Bitcoin (BTC) has value and can be seized in a criminal case. Originally, the lower court ruled that cryptocurrencies only exist electronically and cannot be seized, however, the appeals court decided that cryptocurrencies are profit earned from trade in goods
  • A recent report published by the Boston College Carroll School of Management shows that the average ICO investor earns 82% return on their investment. Over 4,000 ICO’s were studied in this report and showed that the average holding period was just 16 days for ICO investors. The study also showed that those who held their cryptocurrencies for longer than 180 days saw the highest returns – upwards of 150%
  • Cryptocurrencies have reversed from their earlier gains and are now negative on the day. Quantamize's Machine Learning Crypto Signals have 2 Buy ratings out of 30 for the top cryptocurrencies we model