Bitcoin is Raging

 

The past 48 hours have been exciting for hodlers across the world. Crypto is raging thanks to a couple different events.

  • 2 days ago, Blackrock released a statement that they are are setting up a group to look into cryptocurrencies and blockchain. This sent all cryptos up around 5%
  • Yesterday, International financial watchdog, the Financial Stability Board (FSB), has released a report that found bitcoin and cryptocurrencies do not currently pose a material risk to the global financial system. According to a report published by the watchdog, cryptocurrencies “do not pose a material risk to global financial stability at this time.” This sent BTC raging up 10%.

This was huge news for Crypto. We are seeing big old money exploring crypto assets for their portfolio and also 3rd party regulators are now on the record in support of crypto. I would anticipate more money from Wall Street to announce movements into crypto for a couple reasons, namely they don’t want to be left behind. Now that Goldman is all in with Circle Invest, other players can enter the market without looking like a black sheep. I mean, if Goldman is doing it, surely it’s safe for us to do it and if they’re doing it, shouldn’t we?

 

Bitcoin extends gains as BlackRock looks into crypto and blockchain // CNBC

International Finance Watchdog In Surprise Bitcoin Backing As It Reveals Crypto Stocktake // Forbes

 

 

Here’s a seven day heatmap as of 7/18/2018 on the top coins:

 

CLICK THROUGH