Here’s an overview of what’s been going down in the crypto world. The bear market continued to bounce around key consolidation levels over the weekend, and we could expect further drops as we approach the new year.
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SEC Delays Bitcoin ETF Decision Making. Again
One of the many reasons we’re not seeing a recovery yet could be that the SEC again delayed its decision making on the approval of the first Bitcoin ETF in the U.S. They’ve pushed the decision deadline to February 27th, 2019 and based on their own rules, they can’t delay their decision-making any longer. That means, the next time we hear from them about a Bitcoin ETF, they’re either going to approve or reject it and potentially create a storm in the market with their announcement.
Coinbase Exchange Adding 30 New Crypto Assets
Another thing to look forward to in the future is Coinbase exchange’s consideration of adding 30 new crypto assets to their listing. They even said in a blog post that they intend to add “greater than 90 percent of all compliant digital assets by market cap” to their exchange in the future.
State Farm Testing Blockchain for Services
Also in the U.S. one of the largest insurance groups, State Farm, is testing blockchain tech as part of a new platform for their services. According to a press statement, they’re trialing the blockchain to see if it’s a “viable product for insurance industry adoption.”
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UNICEF Funding 6 New Blockchain Startups
Another cool blockchain enthusiast is UNICEF, the United Nations’ charity arm for children, that is funding 6 blockchain startups to “solve global challenges.” This $100,000 investment is part of a broader program which already funds 20 technology startups.
Bitmain Shuts Israel-Based R&D Arm
The future doesn’t look all bright in the industry though. On a more downbeat note, the current bear market continues to take its toll on crypto companies. The latest to downsize is mining giant, Bitmain, that’s closing down its Israel-based R&D arm, laying off all 23 employees. We sure hope the crypto unemployed can extend their knowledge and experience to further developing this exciting industry.
Now I’d like to hear from you. What are your thoughts on all this? Let me know in the comments, and subscribe to get more updates. Remember that as the 4th point of the IDDA technique, you must calculate your risk tolerance before deciding on the investment strategy that is suitable for your portfolio.
Don’t forget to complete your risk management due-diligence before developing your investment strategy.
Invest responsibly,
Kiana
