Good morning and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
A positive start to the week sees Bitcoin and the rest of the market sweep up into the green, as charts show the bulls pushing prices back up.
Bitcoin rose 2.69 percent to trade for $6,916.40, as of 7am this morning.
Ethereum increased 2.47 percent to trade for $285.82.
Ripple went up by 3.38 percent to trade for $0.340703.
Litecoin also increased by 4.01 percent to trade for $60.28.
Confidence appears to be flooding back into the market as investors await the Securities and Exchange Commission’s response to the proposed Bitcoin Exchange-Traded Fund.
All updates are in British Standard Time.
2pm UPDATE: Zuckerberg’s sister joins advisory board at major cryptocurrency exchange
Up until now, if you read the name Zuckerberg associated with blockchain and cryptocurrency, chances are it was referring to Facebook creator Mark Zuckerberg.
However, it’s his sister Randi Zuckerberg who has signed on to advise for one of the world’s largest cryptocurrency exchanges, according to newsbtc.
In a press release from earlier in August, Huobi announced its new “expert advisory team,” and among the names listed, was Mark Zuckerberg’s sister Randi Zuckerberg. Other notable names include Bitmain’s CEO Jihan Wu.
The release states that Zuckerberg will provide expert opinion on “Huobi’s public chain, from the basic technology of the blockchain to its industrial applications, commercial modeling, etc.,” and will “help” during Huobi’s Public Chain Leadership Competition.
“The Huobi Chain Project will provide individuals and organizations with a reliable financial protocol for value exchange, fundraising, securitization and more. While both private and public chains are decentralized peer-to-peer networks, the network within public chains is entirely open, so anyone can join and participate.”
12.30pm UPDATE: Neon Exchange ICO starts September 3rd
The NEX team has announced that the token sale is one week away.
The company received regulatory approval from the Financial Market Authority (FMA) of Liechtenstein, becoming the first regulated exchange security token in Europe and one of the first and few regulated securities in the world.
The round 1 of the sale will start Monday, September 3rd on the first block after 18:00 UTC and end Friday, September 7th on the last block before 18:00 UTC.
9.40am UPDATE: Crypto-funded app Brave Browser downloaded 10 million times on Google Play Store
Brave Software has announced that its eponymous web browser has been downloaded from the Google Play Store 10 million times, doubling its user base in just four months.
This was revealed in a post on its official Twitter handle last Friday.
The ad-blocking browser, which rewards readers and content publishers with its Basic Attention Token (BAT) aims to revolutionize the internet’s present content monetization model, which is dependent on advertising revenue, tracking of user behaviour, and sale of user data.
7.50am UPDATE: Bitcoin to end 2018 with an ‘explosive’ price boost, says Thomas Lee
Mr Lee of Fundstrat Global Advisors said there is an “important correlation” between emerging markets and Bitcoin.
Speaking on CNBC, Mr Lee said: “In general, we thinking mining and fundamental factors like network effect really drive Bitcoin’s value. But macro factors have an effect on network value.”
Mr Lee referenced a chart showing two lines – the MSCI emerging markets index relative to the S&P and Bitcoin’s price.
“You might wonder ‘what’s the linkage? Why do we think they’re connected?’. Well, there are two factors.
“The first is hedge funds, which typically rent emerging markets stock. So they do risk on, risk off. When they are risk off Bitcoin also suffers because they are risk off.
“The second reason has to do with wealth effect. Wealth effect means if you’re living in an emerging market and you see your stock market fall hugely it means you have a lot less money to buy Bitcoin so that affects the network effect because you can’t buy Bitcoin.
“So I think there’s two reason why an emerging markets index actually influences Bitcoin.”
7am UPDATE: BTC jumps by $200 overnight
Bitcoin leaped by more than $200 overnight in an inexplicable boost in price.
The early hours of this morning saw Bitcoin jump from $6,766 to $6,900 in less than an hour.
Analysts are yet to pinpoint the reason behind this jump, but it follows a bullish trend on the upswing which has affected the market in the last few days.
A cautious market has caused the price to drop significantly, but it appears prices may be on the upswing.