Today is the anniversary of Bitcoin reaching the all-time-high level of $20K. That’s right, last year on December 17th, the crypto bubble reached its peak. The crypto market celebrated this anniversary by seeking what seems to be a temporary relief. Majority of cryptos including Ripple (XRP), Ethereum (ET), and EOS (EOS) saw double-digit gains on Monday before erasing some of the gains by the end of New York’s trading session.
Besides the bubble-burst anniversary, there are other updates in the crypto industry you can celebrate.
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The U.S. based Coinbase exchange has partnered with PayPal to enable immediate, zero-fee withdrawals.
To top this off, the exchange has also added a crypto-to-crypto- trading function to its platform for its customers. This means you can expand your crypto trading portfolio without having to move your crypto assets to other exchanges who already offer this option. If you’re one of those crypto traders who’s excited about this news though, be careful because trading more frequently can also increase your risk.
Make sure you’re not double-dipping the same crypto when choosing your trading pairs either. Click here to learn about risk management.
Sephora shoppers can get Bitcoin cash back using crypto startup Lolli
CoinDesk reports that Sephora has joined the list of retailers where shoppers can earn cash back, in the form of bitcoin, through an app called Lolli. A perfect shopping excuse for shopaholics during the holiday season.
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Overstock.com’s subsidiary tZERO hired to develop a token for trading cobalt
Last but not least, online retailer Overstock.com’s subsidiary tZERO has been employed by a private equity firm to develop a token for trading cobalt. I personally own Overstock.com’s equity because it gives my portfolio exposure to the crypto industry, but the market didn’t seem to like the news, and Overstock shares dropped 20% on Monday.
Now I’d like to turn to you and hear from you. What do you think about 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.