Market update Sunday February 4th 2018: Market stabilizes, JP Moron shuts down crypto transactions with credit card and Canada approves first Crypto ETF

Morning guys! Sideways trading continues, volume is low and until there are any substantial changes to that I'm still pretty certain this will continue throughout February. But as we all "know",or believe, once there are bullish signals, or rumors of some whale buying, institution buying or some major positive regulatory event, prices will spike.

 

Back into green after substantial selloff

After multi-month low Bitcoin price and for most other coins as well, most coins are now up 20%+ on the 24 hour. Bitcoin is back above $9000, and especially Litecoin, Status, Dent and Cardano is up substantially today.

https://cointelegraph.com/news/cryptocurrency-markets-move-back-into-green-after-substantial-selloff

 

Canada issues first ever Blockchain-based ETF on the Toronto Stock Exchange

Another blow to those who thinks blockchain is not real or just a fad. Slowly, it is gaining mainstream and mass approval. It's just a question of time before governments has to give up the battle. They will of course fight. Some governments more than others. And governments such as Canada or Sweden are going to give up first, because they know the welfare state is over. And cryptos could offer them a more soft landing, and they can use cryptos as an escape goat. "Oh, there wasn't much we could do. We had to let the free market win." Because they know they'd fuck up in the end anyway.

The fund ticker symbol HBLK set to to begin trading next week and is focused on large and small-scale Blockchain corporations. This is IMO great news! And it makes it much easier for "normal" people to invest.

https://cointelegraph.com/news/canada-regulators-approve-countrys-first-blockchain-etf

 

J.P Moron customers cannot buy cryptos with credit cards

J.P Moron chase confirmed to CNBC jan 25 that they WERE allowing credit card purchases of cryptos. However J.P M has seen a quick reversal as a spokesman told CNBC yesterday;

"At this time, we are not processing cryptocurrency purchases using credit cards, due to the volatility and risk involved. We will review the issue as the market evolves."

https://cointelegraph.com/news/jp-morgan-chase-bans-buying-cryptocurrency-with-credit-cards

In Norway we call people who change direction like this in the market for "truseskvettere" which basically means panty-squirters (someone who pisses their panties easily) and JPM acts like small panty-squirters, peeing in their precious panties because of scary cryptos. BO!

 

Overall there's a more positive vibe today, and there are signs (like the fact that Canada is issuing ETF) that will tell you for sure that you should stick to this game long term. If you overlook the ridiculous FUD and focus on the real news, you understand that this is a Tsunami slowly covering the entire world with crypto-infested water.