Free Trial

MNI: ### BITCOIN MANIA CONTINUES TO SPREAD, TOPS.....>

MNI, NEWS
MNI: ### BITCOIN MANIA CONTINUES TO SPREAD, TOPS $16,000!
- It was bound to happen, Standpoint raises 2018 price target to $28,000 from
last week's $20,000 target. Bitcoin just topped $16,170 on Coinbase!. 
- Buyer beware, Bbg reported "Mining Service NiceHash Says Hackers Emptied Its
Wallet", not the first hacking incident (and won't be the last) after $31M
stolen from Tether's wallet last month. CME expects to start trade of Bitcoin on
Dec 18 (despite trade security issues and strong attraction by $launderers). 
- Success for the exchange? Unsure as no futures commission merchant (FCM)
"except Wells Fargo, are going to offer it," one desk said. But there has been
chatter the last couple wks of dealer interest in facilitating trade in the
cryptocurrency for their customer base.
- Meanwhile, the Federal Reserve is considering virtual currency of their own,
Wall street Journal reported Sunday, while Venezuela wants to create crypto
currency backed by oil, gas, gold and diamond reserves. Who will be next?

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.