A news digest of what happened in the crypto world in the past month, April 2019:
Crypto Bear Market Finally Over?
- The cryptocurrency market may have rebounded, based on several indicators in April. As the price of Bitcoin rose, The Mayer Multiple (MM) indicator, which correctly predicted the 2015 bottom, showed a price bottom for BTC, while the “golden crossover” indicator appeared for the first time since 2015. Reuters also reported that venture capital investment in crypto and blockchain will likely reach record highs in 2019.
- The Bitcoin Lightning Network achieved significant milestones as the experiment of the Lightning Torch concluded on April 10. Developed as a scalability solution for Bitcoin, the network passed 8,000 nodes in April as the first Lightning-enabled Bitcoin ATM was successfully tested and a Lightning Network client was launched by Lightning Labs.
Corporations Gear Up for the Next Bitcoin Surge
- Traditional trading platforms are rolling out cryptocurrency investment options, including E*Trade and likely Ameritrade. Blockchain is also going mainstream, with a reported 61% of large digital companies investing in the technology. The April Bitcoin surge may have been driven in part by shaky monetary policy from the world’s leading central banks that control the fiat economy.
- The tech and retail industries are also embracing crypto, with Facebook reportedly seeking $1 billion to launch their own digital coin project. A new browser extension now allows Amazon shoppers to pay for their purchases with Bitcoin, and HTC is gearing up to launch a new generation of its blockchain-oriented mobile phone (following on the heels of Samsung’s own smartphone developments). Nike even filed a patent for a brand called Cryptokicks.
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