Cryptocurrencies Market Overview - March 7, 2018

Today in the news:

• It's a red day again. Steem is down over 7% today and is now being traded below $3.
• Coinbase is launching a weighted index fund for cryptocurrencies.
• A U.S. federal judge has upheld that cryptocurrencies are commodities and thus subject to regulation by the U.S. Commodity Futures Trading Commission (CFTC).
• Early internet investor Tim Draper predicts in five years we'll only be using cryptocurrencies to pay.
• And more crypto news below...

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Latest Crypto News - March 07, 2018

Cryptocurrency Market Sheds $22 Billion as Every Major Currency Dips

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, Litecoin, and other major cryptocurrencies with the exception of Monero have experienced a decline in value, as the cryptocurrency market fell by yet another $22 billion after a seeing a drop on March 6.
_{Read more: www.ccn.com}

Ethereum Price Drops Below $800 as Bears Take Control

The cryptocurrency markets are always evolving in many different directions. Right now, the overall sentiment is pretty depressing, as the markets have gone down in value for quite some time now. With some markets losing 10% in value or more, things are not looking all that great. Especially the Ethereum price is struggling as of right now, for some reason.
_{Read more: themerkle.com}

Bitcoin exchange Coinbase launches the Dow Jones of cryptocurrencies

Coinbase is launching a weighted index fund for cryptocurrencies. Much like how the Dow Jones Industrial Average gives a sense of the American economy, this fund tries to reflect major trends in the cryptocurrency market.
_{Read more: www.cnbc.com}

Other sources:

• Coinbase Launches Index Fund Tracking Ethereum, Bitcoin, Bitcoin Cash and Litecoin
• Coinbase to Launch its First Crypto Index Fund (Bitcoin.com)
• Announcing Coinbase Index Fund (Coinbase.com)

Google Searches for Bitcoin Drop to Lowest Since October

People just aren’t that interested in Bitcoin since the digital currency’s manic price surge came to an abrupt end late last year.

_{Read more: www.bloomberg.com}

Other sources:

• Google Searches for Bitcoin Drop to Five Month Low

Crypto's Biggest ICOs Stay Silent on SEC Subpoenas

After rumors began to fly late last week that the SEC has been sending out subpoenas to initial coin offerings (ICOs), some of the biggest projects to yet utilize the funding mechanism have remained tight-lipped, refraining from public commentary. CoinDesk has so far reached out to the 14 best-known issuers that have raised $50 million or more through their token sales, asking whether they had received a subpoena or request for information letter. The majority left multiple requests for comment without a reply.
_{Read more: www.coindesk.com}

Virtual currencies are commodities, US judge rules

Virtual currencies like bitcoin can be regulated as commodities by the U.S. Commodity Futures Trading Commission, a federal judge ruled Tuesday.
_{Read more: www.cnbc.com}

Other sources:

• US Federal Judge: Bitcoin and Cryptocurrency Are Commodities
• US Judge Rules Cryptocurrencies Are Commodities in CFTC Case
• New York Federal Judge Rules That CFTC Can Regulate Cryptocurrencies As Commodities
• Cryptocurrencies Like Bitcoin Are Commodities, Federal Judge Says. Here's Why That Matters

Steve Bannon Lauds Cryptocurrency As A Tool To Resist the ‘European Establishment’

Steve Bannon, former Chief Strategist to US President Donald Trump, said that cryptocurrencies could be an asset to the European anti-establishment movement at an event sponsored by the Swiss newspaper Die Weltwoche on March 6. With cryptocurrency “We take control of the central banks away. That will give us the power again.”, he said.
_{Read more: cointelegraph.com}

Legendary Investor Predicts Everyone Using Crypto in Five Years

Tim Draper who has been investing in future technology since the earliest days of the web said that in five years no one will be trading with fiat currency. The legendary investor and prognosticator of where technology is taking us sat down with CNBC’s Fast Money to talk about the future of Bitcoin and blockchain technology.
_{Read more: www.newsbtc.com}

Other sources:

• Early internet investor Tim Draper predicts in five years we'll only be using cryptocurrencies to pay (CNBC)

Life as an crypto trader

Haha :-)

BitPay Merchants Can Now Start Accepting Bitcoin Cash Payments

More than 100,000 BitPay merchants, including Microsoft, Zynga, Virgin Galactic and others, can now start accepting Bitcoin Cash payments following its full integration in all of BitPay’s services.
_{Read more: www.trustnodes.com}

True USD: What's Good to Know About the New Fixed-Price Token Project

The world of crypto coins has had its attempts to create various forms of tokens with a fixed price. So far, the most widespread project remains that of Tether, which has kept its $1 level with minor fluctuations through all attacks.
_{Read more: cryptovest.com}

Russia: Vladimir Putin Signals Obligatory Cryptocurrency Regulation Will Begin ‘July 1’

Russia’s president Vladimir Putin has signalled cryptocurrency regulation in the country should become law “by July 1” this year, according to the official government publication Parlamentskaya Gazeta Feb. 28.
_{Read more: cointelegraph.com}

New Study Looks at the Cost to Mine BTC Across the Globe

Just recently the firm Crescent Electric Supply Company conducted a study that showed the cost of mining one single bitcoin in each state in the U.S. Since then the company’s subsidiary business Elite Fixtures took the research further by charting the cost to mine a single bitcoin in each country across the world.
_{Read more: news.bitcoin.com}

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