Crypto Corner: #Cryptocurrencies Fall with Tech Stocks, India Drafting Crypto Legislation and Singapore’s Parliament Introduces Bill to Regulate Digital Payments
November 20th) #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - November 20, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
Listen to today's Crypto Corner Podcast:
Crypto Corner: #Cryptocurrencies Fall with Tech Stocks, India Drafting #Crypto Legislation and Singapore's Parliament Introduces Bill to Regulate Digital Payments
Get the Crypto Corner Podcast on iTunes
Subscribe to Podcast RSS feed:
Cryptocurrencies Fall with Tech Stocks, India Drafting Crypto Legislation and Singapore’s Parliament Introduces Bill to Regulate Digital Payments
Stocks discussed: (NasdaqGS:FB) (NasdaqGS:GOOG)
Since yesterday's Crypto Corner, the market has lost an additional $14 billion USD as coins continue to see red. That puts total market capitalization at just $155 billion at press time, according to data from CoinMarketCap. Bitcoin (BTC), Ether (ETH) and XRP have all lost between 7 and 8 percent in the last 24 hours, trading at $4770, $143 and $0.46, respectively. But the hard-forking Bitcoin Cash (BCH) was hit the hardest with a loss of 28 percent since yesterday.
The free fall in the crypto space is mirrored by severe losses seen today by FAANG companies and the tech sector more broadly. CNBC reports that collectively, FAANG stocks have lost over $1 trillion today, with Facebook (NasdaqGS:FB) and Alphabet (NasdaqGS:GOOG) posting year to date losses.
Mati Greenspan, Senior Market Analyst at eToro, considers the seemingly shared fate of crypto and tech to be a "retracement" of an "exceptional year" in 2017. He connects the current downtrends to the 2008 financial crisis, which gave birth to Bitcoin in the first place.
"The simple answer is that everything we're seeing across all markets is still the aftermath of the 2008 financial crisis.
The world's governments and central banks have pumped very large amounts of money into the system over the last 10 years in order to stabilize the financial system. Much of this money has by now found its way into various markets, often times with little research on the part of the investor as to what the value of the assets should logically be.
With this in mind, it's important to note that a lot of this cash is still on the sidelines looking for a home. So, whenever these markets do find themselves their respective bottoms, there's still a mountain of capital that could potentially be put to work. The only question that nobody can answer with certainty is exactly where those bottoms may be.
If things turn around now, it would certainly be a very bullish sign, but it's also entirely possible that this could last a while longer."
Local outlet Quartz reports that India is currently working on a draft report for crypto legislation. A counter-affidavit filed in the supreme court reads:
"...currently, serious efforts are going on for preparation of the draft report and the draft bill on virtual currencies, use of distributed ledger technology in (the) financial system and framework for digital currency in India. The draft report and bill will be circulated to members of IMC (inter-ministerial committee). Thereafter the next meeting of IMC will be held so that discussion can take place on the draft report and bill. It is expected that the draft report will be placed before the IMC by next month."
The Straits Times reports that Singapore's parliament has a new bill that could streamline the regulation of digital payments. The Payments Services Bill will expand the regulatory framework to encompass cryptocurrencies under the rule of the Monetary Authority of Singapore, the country's central bank.
Sam Mowers, Investorideas
Read other editions of the Crypto Corner
Get the Crypto Corner News by email Get Crypto Corner News
Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange. You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
More info on the sector:
Investor Ideas is positioning as a leader in blockchain and crypto content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory
Talk about the sector with other companies and investors- Join our LinkedIn Group Blockchain and Digital Currency Stocks and ICO's - Latest News and Commentary https://www.linkedin.com/groups/13560073
About Investorideas.com - News that Inspires Big Investing Ideas About Investorideas.com - News that Inspires Big Investing Ideas
Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and sector trends from Investorideas.com with our news alerts, articles, podcasts and videos talking about cannabis, crypto, technology including AI and IoT, mining ,sports biotech, water, renewable energy and more. Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts #Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the AI Eye Podcast and column covering developments in AI.
The Crypto Corner is part of the Investor Ideas Membership content
The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.
Visit the Podcast page at Investorideas.com:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: this newsletter and podcast is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip and GBT Technologies . More info: http://www.investorideas.com/About/News/Clientspecifics.asp Learn more about Investor ideas podcast and news publication services and costs https://www.investorideas.com/News-Upload/
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto Corner is an Investorideas.com content brand
Learn more about sponsoring the crypto corner and other branded content
Learn more about our news, PR and social media services at Investorideas.com
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas