Top five stories from the last week
| Don't Miss The Top Five Stories From The Last Week Market Crash Continues, Analysts Unpack Factors Behind 10-Day Slump
What is going on with the crypto markets?
Over the last 10 days, the cryptocurrency markets have endured a massive sell-off across the board.There are a number of reasons that have led to the highly bearish sentiments on the market, but seeing red has been difficult for many
What did experts says?
Analysts unveil the main reasons behind the recent crypto market drop off, mentioning the recent Bitcoin Cash contentious fork, combined with regulatory uncertainty regarding ICOs. Nonetheless, Bitcoin won't necessarily drop to $3,000, and the true hodlers are likely to stay in the market, the experts say.
Read more experts' opinions here
Ohio 'Appears' to Be First US State to Accept Bitcoin for Taxes
What is this all about?
The U.S. state of Ohio is poised to become the first state to accept BTC as a tax payment. As the WSJ writes, the move initially applies only to businesses, with plans to extend the offering to individual taxpayers in the future
How would it work?
Starting this week, Ohio-based businesses will be able to register to pay all of their taxes in the leading cryptocurrency. The payments are reportedly set to be processed via crypto payments service BitPay.
Read more here
Mike Novogratz: Cryptocurrency Markets Will 'Flip Next Year'
What did he say?
Mike Novogratz, ex-Goldman Sachs partner and founder of Galaxy Digital, has said that cryptocurrencies will "flip next year" since "that's when prices start moving again"
What is this based on?
Novogratz predicted financial institutions will transition from "investing in cryptocurrency funds to investing in cryptocurrencies proper in the first quarter of next year." But Tim Swanson, founder of fintech advisory firm Post Oak Labs, has a sceptical opposing view.
Read more here
Bitcoin Cash SV Blockchain Reorganization Draws Further Centralization Criticism
What happened?
Bitcoin Cash, which experienced a hard fork on Nov. 15, came under more controversy this week after Bitcoin Cash SV, one of the two new forks of the altcoin, experienced what is known as a blockchain reorganization
Why did it happen?
The reorganization lasted for two blocks and was initially feared to be a malicious attack; however, this instance came about due to the mining arm of crypto news publication Coingeek, which favors Bitcoin Cash SV, orphaning its own blocks.
Details here
BitPay COO Sonny Singh: Bitcoin Could Hit $15-20K by End of 2019
What happened?
The Chief Commercial Officer (COO) of global crypto payment processor BitPay has ventured that Bitcoin (BTC) will hit $15,000 to $20,000 by the end of 2019.
How is that possible?
In the midst of a bearish market picture – with Bitcoin down over 32 percent in value on the month – Singh said that he expects the next big price action to come when mainstream financial sector giants such as Fidelity and Intercontinental Exchange (ICE) start to launch their crypto-based investment products next year.
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