Let’s Talk Cryptocurrencies is BullMarketz weekly update of everything that’s happened on the cryptocurrency market in the past week. We cover all the ups and downs and provide you with all the information you need to make well-informed decisions about your investments in digital currencies. This summary is not excluded to the major currencies such as Bitcoin and Ethereum but includes all digital currencies.
In this week’s Let’s Talk Cryptocurrencies we are focusing on bans affecting the market as well as some new cryptocurrency services that are being launched – both payment services and trading platforms. We also talk about how an unknown cryptocurrency could make it to one of the most sought-after commercial spaces. Lastly, we cover how one cryptocurrency has decided to completely re-brand.
Bank of America decided to ban all cryptocurrency investments done with credit cards. This means that the second largest bank in America joins JP Morgan Chase and Citigroup in an ever-growing selection of cryptocurrency skeptic banks.
Litecoin will launch the payment processor LitePay during February. The new payment system will include international transfers with 1% fees, a dedicated Litecoin wallet, as well as a Visa card connected to the wallet that can be used wherever Visa is accepted. LitePay now has the potential of revolutionizing the industry.
Facebook decided to ban all cryptocurrency related posts in a very controversial update of ad policies. According to Facebook, the ban will help control the increasing amount of financial scams and unreliable ICOs that are spreading on the platform. However, some users argue that it could be the first step towards a Facebook cryptocurrency.
The cryptocurrency market has remained unstable with high peaks and very low lows. Bitcoin has fallen under $8,000, Ethereum is under $800, and the market is looking red with the majority of coins dropping double digits.
Robinhood stock trading app is launching cryptocurrencies as a part of their product. The app will offer several of the leading cryptocurrencies to their users in select states. If the first part of the project is successful, Robinhood is expected to scale to include all of their 3 million users plus the 1 million people that registered their interest in the Robinhood’s crypto app
An unknown cryptocurrency called Vibe teamed up with Monster during the highly sought after Super Bowl commercial. Vibe is currently ranking 124 based on market cap and was unexpected to gain this kind of attention. However, so far it doesn’t seem to have affected the asset very much and Vibe is down 33% only 15 hours after Super Bowl.
RaiBlocks has decided to re-brand and is now called Nano. According to the developers, the new name fits their own vision as well as users idea of the cryptocurrency better. Nothing else has really changed with the project and development will continue as per usual.
For more day trading news and investment advice, we recommend that you check out our weekly trading segment called Let’s Talk Business where we cover the latest developments in all major markets.