Cryptocurrencies Market Overview - February 13, 2018

Welcome to my Cryptocurrencies Market Overview for Tuesday, February 13, 2018.

Today in the news:

• eBay is “seriously considering” Bitcoin as a payment method as cryptocurrencies become more mainstream.
• Microsoft has said it sees potential for public blockchains in supporting decentralized identities.
• Cryptocurrencies are unlikely to disappear according to JPMorgan. Are they finally beginning to understand?
• And more crypto news below...

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Latest Crypto News - February 13, 2018

Bitcoin Price Struggles to Break Through Resistance at $9,000

The cryptocurrency market recovery hit a wall on Tuesday, forcing the Bitcoin price back down to $8,500 and all major coins and tokens into decline as well.
_{Read more: www.ccn.com}

More sources about Bitcoin's price:

• Bitcoin struggles to climb back above $9,000
• Bull Resistance? Bitcoin Price Needs Break Above $9K

eBay Signs Accord with Adyen and Cryptocurrency Payment Platform BitPay

The multinational global e-commerce corporation is “seriously considering” cryptocurrencies as a payment method, but Senior Vice President of eBay Americas Scott Cutler believes it’s not ready for such a big move.
_{Read more: btcmanager.com}

EOS Price Breezes Past $9 in Search of a Double-digit Value

With all cryptocurrencies slowly recovering some of their value lost overnight, things will undoubtedly get rather interesting moving forward. More specifically, we see the EOS price get in the green again. A remarkable trend, considering it is only the second of the top 15 cryptocurrencies to do so today. With an EOS price of $9 and slightly higher again, it will be interesting to see when a new all-time high can be reached.
_{Read more: themerkle.com}

Microsoft Eyes Role for Public Blockchains in Decentralized Identities

Software giant Microsoft has said it sees potential for public blockchains in supporting decentralized identities and will explore the possibilities within its Microsoft Authenticator app.
_{Read more: www.coindesk.com}

Other sources:

• Microsoft Expands on Its Digital Identity Vision (Bitsonline)
• Microsoft Proposes Decentralized Identity System, Praises Public Blockchains (Cryptovest)
• Decentralized Digital Identities and Blockchain – The Future as We See It (Microsoft.com)

JPMorgan: Cryptocurrency is Unlikely to Disappear [Yes, Really]

JPMorgan’s mixed signals on bitcoin persist. The top US bank based on assets has released what’s been dubbed a “Bitcoin Bible” for investors, conceding that cryptocurrencies aren’t going away while simultaneously warning investors about a looming 50% or so drop in the BTC price. Meanwhile, JPMorgan’s CEO Jamie Dimon, whose distaste-turned-disinterest in bitcoin made headlines for months, hopefully ok’d the resources to create the bitcoin manual. Otherwise, someone’s job could be on the line. The bitcoin bible, which is comprised of 71-pages of crypto, covers topics ranging from the technology of bitcoin to its use cases, not to mention the hurdles that it faces.
_{Read more: www.ccn.com}

Other sources:

• JPMorgan Report: Crypto Could One Day Help Diversify Portfolios

Arizone Votes to Accept Tax Payments in Bitcoin

As the cryptocurrency market continues to experience a volatile run, its long-time bulls celebrate a major win as the state of Arizona comes one step closer to allowing its residents to use digital currencies such as bitcoin to pay their taxes.
_{Read more: www.investopedia.com}

Thailand: Central Bank Asks All Banks To Avoid Crypto, Pending Regulations

The governor of the central Bank of Thailand, has asked all banks in Thailand to stay away from cryptocurrency, Reuters reported yesterday. According to Reuters, the central bank released a circular Monday that bans banks in Thailand from investing and trading in crypto, as well as participating in and creating exchanges and platforms for crypto trading.The circular applies specifically to banks, not to exchanges or other services, which are still allowed to operate freely in the country.
_{Read more: cointelegraph.com}

Other sources:

• Thai central bank bans banks from cryptocurrencies (Reuters)

Bitcoin Q&A: SegWit adoption

Why does SegWit adoption seem stalled at 10-20% of transactions? Why would they force users to pay high fees? What are the considerations that cryptocurrency businesses (wallets, exchanges, payment processors / merchant providers, etc.) of various sizes are making in these contentious debates?

Ethereum Classic (ETC) Sees Wider Adoption, Recovers Losses

Ethereum Classic (ETC) is one of the fast-recovering digital assets, doubling its price since the most recent crash. ETC now stands around $30, as the project's influence increases. ETC grew by 16% overnight at one point, becoming one of the better-recovering coins in the past days.
_{Read more: cryptovest.com}

Other sources:

• Ethereum Classic Price Inches Closer to $30 Once Again

Tethers are Risky, Warns Weiss Ratings Agency

Weiss looks closer at crypto coins to find if they have the fundamentals to warrant an investment.
_{Read more: cryptovest.com}

Bitcoin Investors Aren’t Paying Their Cryptocurrency Taxes

Despite months of warnings to pay their taxes on cryptocurrency profits, American Bitcoin investors aren't in a hurry to tell Uncle Sam what they owe. Early data from one popular tax preparation service shows that only a minuscule proportion—just .04%—of U.S. tax filers have reported their cryptocurrency gains and losses to the Internal Revenue Service so far this year.
_{Read more: fortune.com}

Other sources:

• Americans Keep Mum on Crypto Gains at Tax Time

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