Bloomberg: BTC's Renaissance Could Be Linked to Algorithmic Trading, Brian Kelly Says Next Target for BTC is $6,000 and Other News

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Bloomberg: Bitcoin's Recent Renaissance Could Be Linked to Algorithmic Trading What is this all about? Bloomberg reported this week that the recent cryptocurrency market jump could be linked to algorithmic trading What is this based on? The trading method uses automated software to detect trends and determine when trades should be made, and Bloomberg states that the industry has seen 17 new algo or quantitative funds launched since September Read more here      Brian Kelly Says Next Target for Bitcoin Is $6,000, With Crypto Markets Bottoming What happened? Brian Kelly, the founder and CEO of digital currency investment firm BKCM LLC, said that the next Bitcoin target is going to be $6,000 What did he say? Kelly suggested that the cryptocurrency market is finding its bottom: "All indications that we have — whether it be fundamentals, technicals, the quantitative analysis we do — all suggest that we probably have at least started to put in the bottoming process. [...] What's interesting about this move is it's happening on improving fundamentals and improving institutional sentiment" Read more here PayPal Invests in Digital Identity-Focused Blockchain Startup in Apparent First What is this all about? Global online payments firm PayPal has invested in startup Cambridge Blockchain, a firm that focuses on leveraging the tech in order to give users more control over their digital identities Who's in? Cambridge Blockchain has notably joined major players such as Microsoft, IBM, Mastercard and Accenture to collaborate under the canopy of a non-profit organization dubbed the Decentralized Identity Foundation Read more here SEC Staff Publish Framework for Determining If Digital Assets Are Investment Contracts What happened? Staff at the U.S. SEC have published a framework that will help market participants figure out if a digital asset is deemed to be an investment contract, and therefore a security How would it work? The framework focuses on the economic reality of the transaction itself and "what character the instrument is given in commerce by the terms of the offer, the plan of distribution, and the economic inducements held out to the prospect" Details here                                                                     Pakistan's Central Bank Aims to Issue Its Own Digital Currency by 2025 What happened? Jameel Ahmad, the deputy governor of the State Bank of Pakistan, the nation's central bank, declared that the institution aims to issue a digital currency by 2025 What is this for? According to English-language local media Dawn, Asad Umar, Pakistan's finance minister, asked the federal investigation agency and the central bank to ensure that the new system will feature cybersecurity. Umar purportedly claimed that a single high profile incident could irreparably damage trust in the banking system Read more here Prefer video instead of text? Check out our latest Hodler's Digest Speak Out: Discussing Recent Events in Crypto Share news from your favorite projects and communities right in the comments here Want to change how you receive these emails? You can update your preferences or unsubscribe from this list. COINTELEGRAPH LIMITED · Shelton Street, Covent Garden · London