Sept. 30 – Oct. 5 in Review

The German-speaking world has experienced another week full of exciting developments in the crypto industry, with Liechtenstein approving the new Blockchain Act, Iota Foundation joining the European climate research community and Germany taking a firm stand against stablecoins. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch. Liechtenstein approves new Blockchain Act On Oct. 3, the Parliament of Liechtenstein approved the Token and TT Service Provider Act, also known as the Blockchain Act, which aims to improve investor protection, combat…

Tom Lee: Bitcoin’s Price Moves in Tandem With S&P 500

Fundstrat Global Advisors co-founder Tom Lee has stated that Bitcoin (BTC) is positively correlated with the S&P 500 market index and is not a hedge against macro turmoil. Lee voiced his opinion during an interview with industry news outlet The Block published on Oct. 1. Bitcoin moves according to macro factors During the interview, Lee admitted that his opinion is unpopular given that many believe Bitcoin to be a hedge against macroeconomic turmoil. That being said, while he agrees that some crises can have a positive influence on Bitcoin’s price…

Ethereum and Altcoins to Turn Bullish as Bitcoin Price Wavers?

The most recent Bitcoin price drop caused many altcoins to drop heavily, but can one say that they are doing poorly or is it only their USD pairs which are affected? Since a temporary bottom was found at the start of September, altcoins have steadily gained value in their BTC pairings. Take the following, for example: ETH/BTC is up +32%, XRP/BTC +27% and XLM/BTC has gained +29% during this time.  Crypto market data. Source: Coin360 Let’s take a closer look at altcoins to investigate what is happening. Altcoins total market…

Bitcoin Is 2019’s Best-Performing Asset, Even After Recent Price Downturn

The Takeaway Bitcoin prices have more than doubled in 2019, far outpacing the 31 percent return for U.S. tech stocks, which Goldman Sachs deems the best-performing asset class year-to-date. Outsize returns could attract interest from big investors in the yield-starved traditional financial markets. Executives at data firm Messari say bitcoin prices, currently around $8,200, could rally to a new high in the year’s remaining months, topping the $12,902 level reached in June. Investors would be hard-pressed to name a better-performing asset class so far in 2019 than bitcoin. Gold? Up…

US Response to Facebook’s Libra Is ‘Ridiculous,’ says Coinbase CEO

Brian Armstrong, CEO and co-founder of major crypto exchange Coinbase, tweeted on Oct. 5 that he expects the United States government to react to China’s stablecoin project by reconsidering its “ridiculous” response to Facebook’s Libra digital currency. The U.S. government wants to be left behind In his tweet, Armstrong said he believes that “the way the U.S. government reacted it’s like they almost want to be left behind.” He also voiced overall concerns over the United States possibly becoming obsolete due to innovation obstruction in a subsequent tweet: “The way…