Todays Crypto News 03/20/2018
As always this is NOT financial advice.
All crypto is speculative do not risk what you cannot afford to lose.
Hi thanks for reading. Today we look the crazy world of crypto news for March 3rd 2018. Lets get to it!
Russia helped Venezuela create the Petro crypto
image source:themerkle.com/wp-content/uploads/2015/12/shutterstock_331770485.jpg
So according to Time the Petro "cryptocurrency" developed by Venezuela that the US has prohibited it's citizens from buying was actually developed by Russia. The plot thickens.
In my opinion Russia being heavily involved in crypto as a way to fight back against the power of the US dollar will bring laws against crypto faster than anything else. Hard to tell if this is a true story or planted to reinforce the belief that Russia is the perpetual boogeyman.
http://time.com/5206835/exclusive-russia-petro-venezuela-cryptocurrency/
Bitcoin Rallies after positive G-20 meeting
Up down, up down. It's the story of Bitcoin. G-20 leaders are going to take a hands off approach, so it's back up again above 9000. It's going to take a while for regulations.
Coinbase and Barclays team up
Image source: tradelinesupply.com/wp-content/uploads/2017/06/Barclays.png
So Coinbase users in UK with be able to buy crypto more easily with Pounds after coinbase and Barclays announced partnership. It should speed up transactions, lower the cost and make the process of sending money to exchange "seamless". Seems like win win, my bank in Canada hates crypto and won't help you buy it. At least Barclays is forward thinking
https://www.investopedia.com/news/coinbase-and-barclays-reveal-partnership/
Reddit Crypto subreddit bans shilling and memes
Image source: assets.change.org/photos/3/gb/gw/SdgbgWIPpyJFIRp-1600x900-noPad.jpg?1513898229
Normally I am against any form of censorship, but last time I checked Reddit it was a cesspool of crypto shilling. The ease of making throw away accounts, the ease of creating a bot army along with the strong financial incentive to do so made shilling an epidemic there. I like my news from somewhat unbiased sources. It's why I like I Steemit if you made a throw away account to shill your shitcoin here it be a post from a (25) rep account no one would listen to. And if you are a well known member shilling scams you will end up like Craig Grant, downvoted into oblivion. Steemit makes you accountable, Reddit has none of that. They do have a huge readership though, so what happens there effects the whole crypto sphere.
https://thenextweb.com/hardfork/2018/03/20/reddit-cryptocurrency-shilling-memes/
Wall Street predicting altcoins make a comeback
Source: crypto-lines.com/wp-content/uploads/2018/02/crypto-bull.jpg
Wall Street research firm analysts say the alt coin bear market is almost over. It can't be doom and gloom forever. While once I again I stress this is not financial advice, I think alts are going to make a big comeback. Article suggests there will be a purgatory time that could last a while before the next boom and still be careful. I personally hold no bitcoin and for me it's all about the alts.
http://www.businessinsider.com/cryptocurrency-alt-coin-bear-market-ending-tom-lee-2018-3
Reported volumes on exchanges are fake or inflated
Image Source: i0.wp.com/bitcoinexchangeguide.com/wp-content/uploads/2017/06/okex.jpg?resize=696%2C449&ssl=1
After finding out Mt Gox had a trading bot they used to inflate prices I am not surprised. This is the type of thing that will bring regulations. There should be no fabrication of numbers with exchanges. This writer determined most volume on exchange OKex appeared fake.