Bitcoin Weekly Review


Billionaire investor George Soros’s $26 billion fund is planning to trade cryptocurrencies as per Bloomberg.In January Soros had described cryptocurrency is a "typical bubble."

Cryptocurrency exchange Coinbase is launching a vehicle for early-stage investments called Coinbase Ventures.

CoinGate, the Lithuania-based blockchain payment gateway-collaborated with an open-source e-commerce platform, PrestaShop based in Paris, France. This tie-up will allow many online merchants to accept digital currencies as a payment mode.

Cryptocurrency exchange Gemini said Monday that it will roll out block trading for bitcoin and ether starting later this week. This will allow customers to make high-volume trades that won't appear in the exchange's order book until they've been filled.

Investor Jeffrey Gundlach said on Monday that bitcoin is proving to be the new stock market indicator and this is hardly just a "gut feeling" given the recent price movements.

The Securities and Exchange Commission (SEC) is considering a rule change that may allow bitcoin ETFs to be listed on exchanges. According to a document posted on the SEC website, the agency has begun the process to approve or disapprove a change in its rules that allows two bitcoin ETFs - Proshares Bitcoin ETFs and Proshares Short Bitcoin ETFs – to be listed on the NYSE Arca exchange.

According to Lee(Fundstrat’), “historical estimates are each $1 of USD outflow is $20-$25 impact on crypto market value.”

Lightning Network(LN)-The first user mobile wallet built for the Bitcoin’s was launched recently.Eclair wallet, released by technology startup ACINQ, is available for Android users from the Google Play Store.

Global financial services major Bank of America says that the greatest bubble in history is popping when bitcoin’s prices crashing below $7,000-mark.
Billionaire Shark Investor Mark Cuban said that he sees “gold and Bitcoin as being the same thing”. Based on his opinion, since neither Bitcoin or gold were viable forms of currency, they lacked sufficient utility to necessitate value.