In “This was the NEWS” we take a look at the most important news of last week. What has happened in the crypto space over the last 7 days? News items that you may have missed and you really need to read. You will find it here!
- France Passes Bill to Allow Insurance Providers to Invest in Cryptocurrencies
France has passed a bill, the Pacte Law, which allows insurance companies to invest in non-securities, yes including crypto. This law is showing the world that many countries are looking to change their stance on crypto.
Read more about the Pacte Law here: https://www.altcoinbuzz.io/crypto-news/regulations/france-passes-bill-to-allow-insurance-providers-to-invest-in-cryptocurrencies/
- Tom Lee of Fundstrat: Bitcoin to Stage a “Pretty Big Recovery” in 2019
After making many wrong calls in 2018, Tom Lee feels that Bitcoin is set up to recover big in 2019. His two biggest reasons for this belief has to do with the Bitcoin halving in May 2020 and Bitcoin has finally passed the 200-day moving average.
Read more about Tom Lee’s call here: https://www.altcoinbuzz.io/crypto-news/spotlight/tom-lee-of-fundstrat-bitcoin-to-stage-a-pretty-big-recovery-in-2019/
- Binance Announces Launch of Its DEX Platform
Binance is one of the largest crypto exchanges and them launching a decentralized exchange (DEX) is very important. Centralized exchanged are more susceptible to being hacked due to having funds on “hot wallets.” The Binance mainnet is also expected to happen on April 23, 2019.
Read more about recent Binance developments here: https://www.altcoinbuzz.io/crypto-news/product-release/binance-announce-launch-of-its-dex-platform/
- Enjin Coin Ranks 9th in terms of True Volume
Messari has added a column that allows users to sort through much of the fake volume and just look at volume from certain exchanges. This allows users to see through the reported 95% of fake exchange volume. A recent surprise was that Enjin (ENJ) reached the top 10 last week in this “real 24-hour volume” column.
Read more about Enjin reaching the top 10 of real volume here: https://www.altcoinbuzz.io/crypto-news/product-release/enjin-coin-ranks-9th-in-terms-of-true-volume/
“This was the NEWS” summary!
While many people have criticized Tom Lee for his bad calls in 2018, I think he is onto something this time. We have dropped over 80% with Bitcoin and many altcoins have dropped over 90%, this falls in line with other bear markets. While we might not have seen the bottom, there is objectively a lot of good news to look forward to. There is the Bitcoin halving in 2020, big leaps being taken on Lightning Network, and Fidelity has created and started rolling out their crypto platform. This doesn’t include potential news of Bakkt, a potential Bitcoin ETF, and institutional entrance to the space. Bitcoin has a lot of positives in the coming year, don’t forget that.
For me, the most important news last week was the new law that was passed in France, the Pacte Law. Having a large and influential country as France moving towards integrating cryptocurrencies with our current society is extremely important and shouldn’t be overlooked. It seems that while some countries are trying to push this technology out of their country, other countries see the value in the space and are trying to allow it to flourish in their borders. If the other countries in the EU, can follow their lead, the crypto markets could see a huge influx of euros in the coming months and years. Personally, I believe that 10% is a lot of money but if other countries all over the world allow their institutions to invest even just 1%, the returns could be huge. Instead of looking to the US for crypto regulation, the world should start trying to copy France’s model.
