May 7 – 13, 2018 | Blockchain Week, Federal Reserve & More Crypto News

North iQ Weekly Newsletter is curated to provide insights on digital asset industry developments, market announcements, and performance analysis.

Analyst: Bitcoin Could Soar After Blockchain Week New York

May 11, 2018 – Blockchain Week New York City is already underway, and analysts have noted that the price of bitcoin has historically increased following the event since 2015. The event is one of the biggest for cryptocurrencies, largely due to Consensus 2018, which hosts some of the world’s most influential financial and blockchain professionals. In 2015, Blockchain Week had 1500 attendees, while this year around 8000 attendees are expected.

Managing director and technical strategist of Fundstrat Global Advisors, Robert Sluymer, thinks “the regulatory risk, the fundamental risk around what’s happening with cryptos has hit a bottom and now we’re in a state of general recovery”. In their recent report, Fundstrat Global Advisors anticipates the price of bitcoin to get as high as $64,000 next year.

Read the full article here.


Federal Reserve: Launch of Bitcoin Futures Dragged Down Prices

May 7, 2018 – A report released by the San Francisco Federal Reserve notes that bitcoin’s decline that came after its surge to nearly $20,000 USD was directly tied to the launch of the futures market. The highest price of bitcoin lines up exactly the day that the Chicago Mercantile Exchange (CME) introduced bitcoin futures trading. Until the release of bitcoin futures, shorting bitcoin and betting on the decline of cryptocurrencies was next to impossible.

Researchers say that the launch of bitcoin futures allowed for pessimists to finally enter the market, which contributed to reversal in price. Several exchanges do offer the ability to short bitcoin through certain derivatives, but never the underlying cryptocurrency. The San Francisco Federal Reserve says that future prices and demand for bitcoin could be helped by any traditional financial institutions starting to accept bitcoin as a means of payment.

Read the full article here.


Bitcoin Wallets Pre-Installed on new Huawei Smartphones

May 11, 2018 – Huawei, one of the world’s largest smartphone hardware manufacturers, has announced that its mobile phone users will soon be able to download Bitcoin wallets on Huawai devices. The BTC.com Bitcoin wallet will be available on its AppGallery application, and will come pre-installed on all new Huawei and Honor phones. The app will be rolled out to older devices over the coming months.

“It’s a good opportunity to tap into the Chinese market. The use of cashless payments with apps is very big and the traditional banking system is lacking, so there’s a good use case for crypto payments to grow there,” vice-president of BTC.com’s small business operations said in an interview.

Read the full article here.


Nasdaq’s CEO is Bullish on Cryptocurrencies

May 11, 2018 – Nasdaq CEO Adena Friedman is getting more optimistic about blockchain and the technology powering popular cryptocurrencies such as bitcoin. She sees that blockchain and cryptocurrencies will likely play a key role in the economy of the future. Back in April, Nasdaq landed a technology deal with major cryptocurrency exchange Gemini Trust, which was founded by two early bitcoin investors, Tyler and Cameron Winklevoss. Gemini will be using Nasdaq’s technology to ensure that its trading activity is within compliance.

“How it evolves and which of the cryptocurrencies may or may not be the one that ultimately gets embraced, I think that really the jury is still out on that. But I do think the idea of a more globalized payment mechanism that is more efficient than what we have today allows for money to transfer across countries and certainly supports the Internet economy,” said Friedman in an interview.

Watch the full interview here.


Facebook is Taking a Serious Look at Blockchain and Cryptocurrencies

May 11, 2018 – Facebook has undergone an incredible transformation, shifting rapidly from being just a social media company to becoming an information powerhouse. The company has recently reshuffled its executive board and formed a blockchain group. By using blockchain as a decentralized record-keeping system, Facebook could tackle some of its growing pains, such as providing a place for them to store identity verification data to address privacy concerns.

Facebook’s experimental blockchain group will be led by David Marcus, who was the executive most recently in-charge of Facebook’s messenger group. David Marcus currently sits on the board of directors at Coinbase, which is one of the largest cryptocurrency exchanges in the world. “This new small team will be exploring many different applications. We don’t have anything further to share” said a spokesperson from Facebook.

Read the full article here.

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Disclaimer

This Weekly Cryptoasset Newsletter is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by 3iQ Corp (“3iQ”). Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.3iQ Corp. makes no representation or warranty to any investor regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. All content is original and has been researched and produced by 3iQ unless otherwise stated therein. No part of the content may be reproduced in any form, or referred to in any other publication, without the express written permission of 3iQ. All statements made regarding companies, securities or other financial information contained in the content or articles relating to 3iQ are strictly beliefs and points of view held by 3iQ and are not endorsements of any company or security or recommendations to buy or sell any security. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. By visiting and/or otherwise using the 3iQ website in any way, you indicate that you understand and accept the terms of use as set forth on the website and agree to be bound by them. If you do not agree to the terms of use of the website, please do no access the website or any pages thereof. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with 3iQ with respect to any linked site or its sponsor, unless expressly stated by 3iQ. Any such information, products or sites have not necessarily been reviewed by 3iQ and are provided or maintained by third parties over whom 3iQ exercises no control. 3iQ expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness and confers no right on purchasers. Past performance of cryptoassets is not indicative of future performance and should not be used to forecast any return that an investor may realize.

Fred Pye

Frederick T. Pye

CHAIRMAN, CHIEF EXECUTIVE OFFICER & DIRECTOR

Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.