Spoken News: September 13
Ethereum & Co. Has Demonstrated a Short-Term Rally
Today, the second leading cryptocurrency Ethereum back above $200 as some say the bulls are back once again.
Almost every cryptocurrency enjoyed a considerable rise, as Bitcoin currently trading just above $6500.
Bitcoin is Seeing Record Volumes Across South America
Data from Coin Dance shows that Bitcoin trading volumes continue to rise as the people return to crypto’s to protect their savings.
Countries like Argentina and Peru also shows similar patterns to Venezuela as the latter continues to dominate the headlines with their economic struggles.
Morgan Stanley to Give Clients Bitcoin Option
US multinational bank Morgan Stanley set to offer Bitcoin swap trading for its clients.
Bloomberg reporter Alistair Marsh and Business Insider’s Frank Chaparro both reported that the giant plans to offer trading in complex derivatives linked to Bitcoin.
According to Marsh, sources stated that Morgan Stanley ”will deal in contracts that give investors synthetic exposure to the performance of Bitcoin”, similiar to plans from other Wall Street giants including Goldman Sachs and Intercontinental Exchange.
Marsh reports: “Investors will be able to go long or short using the so-called price return swaps, and Morgan Stanley will charge a spread for each transaction.”
Waves, Malta to Discuss Blockchain Co-Operation
Waves CEO Sasha Ivanov currently in Malta to meet with government’s officials about a Blockchain based co-operation.
Although there’s no official arrangement yet, it’s reported that Waves blockchain could be used in healthcare, land registry and voting. Waves gave information in their medium post as Ivanov said:
We are interested in this accreditation and are ready to start working with Malta’s legal experts to bring our ready-to-use blockchain solutions here.
Malta prime minister Silvio Schembri also hinted that they could cooperate with Waves as many believe an official partnership could be coming soon.
Allianz Chief Economist Said Bitcoin Price Should Stabilize Near $5,000
Allianz’s chief economist Mohamed El Erian has spoken to Yahoo Finance about Bitcoin. El Erian said in the past, unnecessary speculations had led to a previous bullish action, where Bitcoin was once traded at $20,000. El Erian said:
What we’re getting is the realization that adoption is not going to be as big and as quick as the proponents of crypto would like. I think it’s going to be there, it’s going to last for a long time, it’s going to play a role in the ecosystem, but it’s not going to be the currency that a lot of proponents would like it to be.
McAfee: BTC is the Number One When İt Comes to Payments
The founder of McAfee antivirus system, John McAfee has spoken about Bitcoin. McAfee said he previously mined Bitcoin but now he left due to heavy competition. McAfee added:
I was one of the world’s largest miners when i was with MGT…we did it because it was profitable. No matter what the price of Bitcoin, you cannot lose money by mining Bitcoin. Let’s say the price drops to $2000, everybody gets out and the difficulty rate drops to zero and you’re cranking out millions of coins per day.
He also stated that Bitcoin is the most commonly used cryptocurrency as a payment method and should remain in that position:
As a large miner I am able to see the actual growth and use of Bitcoin. Two weeks ago I did a Bitcoin transaction and it took me 18 hours. If you have an item, entity, product whatever that is in such demand and you tell me the price is going to go down, no it’s not.