Bitcoin has been in the news recently for a lot of the wrong reasons. In one article, the results of an analysis of unusual trades suggested that the recent Bitcoin price may have been manipulated by a single person. Which, if true, underlines recent decisions of regulatory authorities in China, Korea, India, the UK and even Bali and the Philippines to pay more attention to either blocking or regulating its trade.
At the same time, the extremely volatile price dropped dramatically to under $10,000, raising squeals from some late-to-the event me too investors who saw their holdings half in value overnight. There is a great graph from Sentifi showing the correlation between various announcements, romuors etc. and costs in an article from the Singapore Business Times.
Meanwhile a number of billionnaires have been meeting at the Crypto Finance Conference in St Moritz with Blockchain entrepreneurs, government officials and investment managers to discuss opportunities in cryptocurrencies. So as I mentioned in a previous blog, Bitcoin was last years most successful proof of concept experiment. The appetite for investment has been established. The markets for trading are emerging and regulators are getting in on the act, hopefully to make things safer.
So it looks like there will be a lot more ICOs soon.
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