Home Crypto Daily Recap Daily Crypto Roundup 11/19/2018

Daily Crypto Roundup 11/19/2018

Bitcoin dumped $5k today, while the headlines were filled with Bitcoin Cash talk, bullish Bitcoin predictions, political campaign mining donations, and statements regarding crypto’s future potential. Catch up on today’s news.

Why The BCH Hash Wars Hurt The Entire Crypto Market

The past week has been filled with Bitcoin Cash fork drama. BCH split into two chains – Bitcoin ABC and Bitcoin SV, resulting in a war between team Roger Ver, and team Craig Wright.

Throughout the war, significant time, energy, and electricity have been used in efforts to take control.

This war and drama are not good for outsiders looking into the crypto space. The entire market has likely lost legitimacy at a pivotal time for adoption.

Read on Crypto Insider

Draper’s Bullish Prediction: $250k Bitcoin By 2022

The notable Time Draper apparently still sees Bitcoin with a hefty price tag of $250k in a few years time.

2022 or 2023 should be enough time for Bitcoin to achieve said price. Draper has made such recent statements at Dublin’s Web Summit, as reported by Crypto Insider.

Crypto Insider shows Draper describing factors leading to such a price for BTC, under the categories of “typical Libertarian arguments”, and “economic arguments”.

Read on Crypto Insider

Below $5K: Bitcoin Drops $500 To Set New 2018 Low

Today saw Bitcoin making new yearly price lows as it dumped below $5k. At press time, BTC is valued at $4862 and appears to be in the middle of a free fall.

“That’s the lowest figure since Oct. 12, 2017, and as of press time, the price has recovered somewhat to $5,048 – still signifying a decline of more than 9 percent”, reported CoinDesk.

The total crypto market cap has lost over $15 billion, with some crypto assets seeing losses of over 20%.

Read on CoinDesk

US Election Commission Says Crypto Mining For Political Campaigns Is ‘Permissible’

The FEC (U.S. Federal Election Commission) recently made moves to approve candidate financial support via crypto mining.

“In a memorandum dated Nov. 13, attorneys with the FEC responded to a proposal submitted in September by OsiaNetwork LLC, which at the time asked if individuals would be able to provide their computers’ processing power to mine cryptocurrencies”, reported CoinDesk.

The capital accrued during said mining would then be given as funding for political groups. On paper, donations would come from OsiaNetwork, and the associated miners.

Read on CoinDesk

Cryptocurrency Is ‘A Big Deal’ But Needs Institutional Investments, Says KPMG Report

KPMG, a top auditor in the Netherlands, published a positive report last week about crypto and its potential.

The report details the necessity of institutional investors in the crypto space. Although gaining such involvement will be challenging.

Regarding institutional involvement and cryptocurrency’s potential, the KPMG report states – “[i]nstitutionalization is the at-scale participation in the crypto market of banks, broker dealers, exchanges, payment providers, fintechs, and other entities in the global financial services ecosystem. We believe this is a necessary next step for crypto to create trust and scale”.

Read on CoinTelegraph

 

 

 

 

 

The above is to be considered opinion and not investment advice in any way, as an unbiased media, no one interferes with the Editorial content of CryptoInsider.com, writers have freedom to choose their own direction, members of Crypto Insider do not participate in trades based on content.

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BTC: 1HozPdTTJahPigLXwMShErhubZLobBhFPL
ETH: 0xDf4d2529D777a80717E85Ed2269830ad6265951B
LTC: LMT3LCbCSvActkVo4dgzbHjn1HPrCgKch2
BCH: 17sFsLgZq9jibtqi5Bo5SiUcCD4TG8RQwE

Benjamin Pirus
Benjamin Pirus
BJ is a full time writer, editor, and trader in the cryptocurrency space. He has written many professional articles for numerous ICOs, news sites, and other interested parties in the crypto space. He is also a trader, staying up to date with the crypto markets constantly, and dabbling in traditional financial market trading occasionally.

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