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Cryptocurrency Midday Report

Jun 13, 2018

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  • A study released by the University of Texas showed that major Tether (USDT) buys were timed to help stabilize Bitcoin’s floor. The study mentioned that these patterns cannot be explained by investor demand. The researchers who performed the study were the same researchers who wrote a report that the VIX has been manipulated.
  • Ripple’s CEO, Brad Garlinghouse, said that bitcoin (BTC) is controlled by Chinese miners and has no hope of being a world currency. Garlinghouse argues against other notable commentators on Bitcoin, such as Steve Wozniak and Jack Dorsey who believe it will be the world’s currency. He discussed how there are four miners in China which control over 50% of Bitcoin
  • The Economic Times reported that an Indian panel studying cryptocurrency may allow cryptocurrency but with provision about its usage in the country. This perspective is at odds with India’s central bank which demanded that banks stop interacting with cryptocurrency entities in April. Cryptocurrency entities will challenge the recent decision at a Supreme Court hearing on July 20
  • The Co-Founder & CEO of Circle, Jeremy Allaire spoke this morning and stated that global society is “at the beginning of a tokenization of everything”. He believes that blockchain will revolutionize every aspect of finance and reinvent public and civil services. In terms of crypto assets, Allaire mentioned that houses, cars, and art will be tokenized as well as private or public votes
  • Quantamize AI Machine Learning 3-Day Crypto Signals are on their third day and will be updated tomorrow morning