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Sunday, April 8, 2018

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Big Names bring Big money into Crypto!

Once again we observe how easy it is to manipulate crypto market, having a reputation in the world of business and commerce. 

George Soros, who literally 2 months ago was actively criticizing crypto, announced that he would now deal with it. After his first statement the price of bitcoin fell sharply, after the second - it grew. The most interesting thing here is that given the fact that Soros changes his attitude to the crypt like gloves, he can say at least tomorrow that he sold all the crypto-active items and again start to heat crypto.
Last Friday, Venrock forged a partnership with cryptocurrency investor group CoinFund, according to a company official blog post. Venrock represents the venture capital arm of the more famous Rockefeller Foundation. Named after the renowned John D. Rockefeller, Venrock is seemingly following Soros' footsteps by entering the cryptocurrency space. The company is set to provide the Rockefellers with a ready-made list of unique cryptocurrencies the fund already has stakes in. On a tweet Coinfund stated:

"We are excited to partner with @pakman and @Venrock for our work in #decentralization and #blockchain!"

In the meantime, bitcoin domination has stopped around 45%, which does not bode well at all: usually in such a situation (when the domination does not change), overall capitalization is slowly falling. 

Nevertheless, according to the fundamental analysis, everything is in order: in addition to the statement of Soros, the Securities and Exchange Commission (SEC) began to consider the proposals of the two exchange investment funds (ETF). Last month Chris Concannon (CBOE president) wrote a letter to the Commission asking to consider Bitcoin ETF offers as casual, and not as a class of products. In addition, he noted that CBOE has successfully completed several futures contracts and stated that bitcoin markets are developing rapidly and will soon be able to guarantee ETF.


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