Swiss Researchers Forecast a Steep Fall for Bitcoin Price in 2018 (CCN.com)
If Metcalfe’s law applies, the bitcoin price has much further to fall. A group of Zurich-based researchers developed a bubble/crash report, predicting that bitcoin’s market value, which currently hovers at about USD 124 billion, will be slashed by approximately 37% to no greater than USD 77 billion by year-end 2018. It’s all based on a theory known as Metcalfe’s law. The findings may appear to chart the course for a bitcoin price that’s been under pressure year-to-date amid regulatory pushback from major bitcoin markets around the world. But by the same token, the bitcoin fog may be nothing that greater regulatory clarity could clear up. After all, the markets don’t like uncertainty.
Nano (NANO): If This Works, Bitcoin (BTC) Could Be Down And Out (StocksGazette.com)
A new name isn’t everything, but a really cool new name can be something. That’s my take on Nano (NANO) after it successfully rebranded, dropping the old moniker of Raiblocks (XRB). Much has happened across all of the crypto land ever since the February rebranding meet-up, especially the inevitable price slumps that have rocked all the major coins. But if anything came out of that rebranding, then it’s recognition that, here is a genuinely great cryptocurrency with a real-world use to it.
Abra CEO Unfolds Reasons Behind Choosing Litecoin [LTC]’s Smart Contracts Network (AMBCrypto.com)
Abra, the world’s first wallet and exchange to support 20 cryptocurrencies and 50 fiat currencies is a one of its kind exchange platform. The team chose to use Litecoin’s smart contracts network as the core of their applications protocol over all the others in the market. The CEO of Abra, Bill Barhydt had explained briefly about his choice of LTC’s network earlier this month. According to him, Litecoin was their second asset class, after Bitcoin, for their smart contract investment solution for 3 major reasons; First and foremost is the commitment to Bitcoin compatibility, core roadmap, p2sh support, lightning support, etc. Secondly, it has slightly better scalability than BTC in short term. Lastly, mining fee which is a short-term benefit would skyrocket if they were to be successful.
Monex Confirms Interest in Acquiring Hacked Cryptocurrency Exchange Coincheck (ZDNet.com)
Monex has confirmed interest in purchasing Coincheck but insists nothing is yet set in stone. On Monday, the online Japanese broker said in a statement that Monex has been “studying and experimenting” with blockchain technologies as the firm considers the creation of new finance-related businesses, infrastructures, and technologies as important. As a result, Monex is considering a potential Coincheck buyout but is yet to ink a formal offer.
Chile: Three Crypto Exchanges Dropped by State Bank (News.Bitcoin.com)
Chilean cryptocurrency exchanges Buda, Orionx, and Cryptomkt were given notice their accounts will be closed by Banco del Estado de Chile. This comes after the three were also targeted with account closings by Itaú Unibanco Holding S.A. of Brazil and The Bank of Nova Scotia (Scotiabank of Canada).
