Cryptocurrencies Market Overview - March 16, 2018

Welcome to my Cryptocurrencies Market Overview for Friday, March 16, 2018.

Today in the news:

• Almost all cryptocurrencies are recovering today. Hopefully we have seen the bottom.
• Paypal co-founder Peter Thiel calls Bitcoin digital gold.
• Power providers in upstate New York are cleared to charge higher electricity rates for crypto mining firms.
• South Korean prosecutors raided 3 Seoul-based crypto exchanges last month.
• AirAsia, Southeast Asia’s low-cost airline, is considering an ICO.
• And more crypto news below...

24 Hour Change

Realtime chart on my website CoinMarkets.today

7 Day Change

Month-to-Date Change

24 Hour Volume

Market Capitalization

Bitcoin daily chart

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Latest Crypto News - March 16, 2018

BTC, ETH See Small Growth After Yesterday’s Fall To Monthly Lows

After a drop in the crypto markets yesterday that brought Bitcoin’s (BTC) price down below $8,000 for the first time in over a month, the two biggest coins listed on Coin360, BTC and Ethereum (ETH) have seen slight growth today, March 16.
_{Read more: cointelegraph.com}

VEN, BNB, NEM: Bitcoin Slumps As Other Cryptos Post Gains

It's been another gloomy week for the cryptocurrency markets, but, even so, NEM's XEM token and a couple of lesser-known altcoins managed to finish up with overall gains.
_{Read more:}

South Korea: Crypto Exchanges Probed Over Alleged Embezzlement

Seoul prosecutors carried out a three-day raid to the offices of three cryptocurrency exchanges on suspicious that their personnel had embezzled customer funds.
_{Read more: coinjournal.net}

Other sources:

• 3 Korean Crypto Exchanges Get Raided by Prosecutors
• South Korean Prosecutors Raided Three Seoul-Based Crypto Exchanges Last Month

Peter Thiel betting on Bitcoin becoming digital gold

Peter Theil who is the co-founder of Paypal and Palantir and also for his book Zero to One talked about cryptocurrencies on Thursday during a fireside chat at Economic Club of New York.
_{Read more: blockmanity.com}

Other sources:

• Peter Thiel is ‘Long Bitcoin’ and ‘Neutral to Skeptical’ of Everything Else
• Peter Thiel is betting on bitcoin because one cryptocurrency will become the 'online equivalent to gold'
• PayPal’s Peter Thiel: ‘Longing’ Bitcoin Is ‘Hedge Against World Falling Apart’

Singapore Central Bank Touts Blockchain for Payments

The chief of the Monetary Authority of Singapore has spoken of how blockchain's "strongest" use case is in cross-border settlement.
_{Read more: www.coindesk.com}

Other sources:

• Singapore Central Bank Confirms International Blockchain Payment Plans

AirAsia Is Building Own Payment Platform, Looking Into Launching ICO, Says CEO

Southeast Asia’s pioneering low-cost airline AirAsia wants to launch an Initial Coin Offering (ICO) to “take cost out” of its business model, according to a report by TechCrunch on Friday, March 16.
_{Read more: cointelegraph.com}

Other sources:

• AirAsia, Southeast Asia’s low-cost airline, is considering an ICO

US Lawmaker Presses Treasury on Venezuela's Petro Sale

Florida senator Bill Nelson has denounced Venezuela's petro token and asked how the U.S. Treasury plans to enforce sanctions.
_{Read more: www.coindesk.com}

Fundstrat’s Tom Lee Reports Bitcoin Mining Now Less Profitable Due To Falling BTC Prices

A recent report by Fundstrat’s Tom Lee notes that Bitcoin (BTC) mining earnings are currently almost breaking even, as the activity has temporarily become less profitable the midst of the current decline in the markets, CNBC reported yesterday, March 15.
_{Read more: cointelegraph.com}

Other sources:

• Bad news for bitcoin miners: It's no longer profitable to create the cryptocurrency, by some estimates (CNBC)

New York Power Providers Cleared to Hike Rates for Crypto Miners

Cryptocurrency mining firms in upstate New York may be looking higher utility bills following a ruling from the public utilities regulator.
_{Read more: www.coindesk.com}

Other sources:

• New York Cryptocurrency Miners Will Pay a Premium for Electricity

Paris Embraces ICOs in an Incredible Uturn

France is bidding to become the most friendly jurisdiction for ICOs as their Ministry of Finance prepares to rush legislation that will create a voluntary regulatory framework according to local media.
_{Read more: www.trustnodes.com}

Crypto Featured for First Time in US Congress Economic Report

Congress' 2018 Joint Economic Report includes a chapter on cryptocurrencies and blockchain technology, advocating for wider understanding of the tech.
_{Read more: www.coindesk.com}

Bitcoin Investors Have “No Idea What They Are Doing” Says Visa's CFO

Vasant Pabhu, Visa’s chief financial officer (CFO), recently joined a growing list of financial executives criticizing cryptocurrencies. In an interview with the Financial Times, the executive reasoned that cryptocurrencies are in a bubble, and that they’re mostly used for criminal activity.
_{Read more: www.cryptoglobe.com}

Other sources:

• Bitcoin Investors ‘Have No Clue’ Thinks Visa’s Chief Financial Officer

Over 50 Percent of Square Merchants Ready to Accept Bitcoin, Survey Shows

In a census of 100 U.S. retailers that are also Square clients, over half have said that they would accept bitcoin as payment. Square is a payment processing provider with a large, nuanced offering for point of sale.
_{Read more: btcmanager.com}

Other sources:

• Square Merchants Love Bitcoin! New Survey Shows More than 60% Would Accept BTC in Lieu of USD

5 Reasons Bitcoin is Fundamentally Stronger Than Ever

Price of Bitcoin got you down? Don’t worry! Bitcoin isn’t dead (again). What’s more, here are five reasons the world’s first cryptocurrency is fundamentally stronger than ever.
_{Read more: bitcoinist.com}

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