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ETF Giant WisdomTree Confirms Plans For Launch Of A Stablecoin

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Today’s cryptonews show that there are new developments coming directly from the New York-based International investment and ETF giant WisdomTree Investments which now plans to launch a stablecoin and wants to do so ahead of the competition.

This is a busy period for WisdomTree as the news rolled out that they plan to issue their own regulated digital token. Reports from Financial News show that the company wants the Securities and Exchange Commission (SEC) to approve and regulate the new products.

However, it is still not clear whether any talks with the US financial watchdog have started – just like there is no additional information about the alleged upcoming stablecoin which has been provided.

Additionally, it looks like the ETF (exchange traded funds) and ETP (exchange traded product) sponsor wants to be among the first of the giants to offer this product. The ETF giant WisdomTree and the founder and CEO Jonathan Steinberg wa quoted as saying:

“You want to be early. We came to ETFs 13 years after State Street. This gives us an opportunity to be ahead of the State Streets, Fidelitys, on regulated stablecoins.”

State Street is one of the biggest competitors to the ETF giant – being a custodian bank that partnered with the crypto exchange Gemini on a digital assets-reporting project. On the other hand, the fund manager Fidelity Investments has also been active in the crypto space – rolling out its much-anticipated crypto custody solution in October last year.

Fidelity also created a tokenized rewards system for its employees with the security token expert Tokensoft in November. They also announced its set to expand into Europe with a new UK-based branch in December.

The director at the ETF giant WisdomTree, William Peck, recently said that via the stablecoin project, the company wants to enable access to traditional assets like gold or property over the blockchain. Steinberg was quoted as saying that by allowing for an easier trade in assets, the project could give the company “a Facebook-like role for financial institutions.”

Meanwhile, the Libra news show that Facebook has been trying to push through its Libra digital coin since its announcement last June, leading an ongoing battle with regulators which resulted in several backers backing out.

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Bitcoin News

New Research Shows Mondays Are Best Days For Buying Bitcoin

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The latest Bitcoin news show us that BTC is hitting the $9,000 barrier amid the launch of CME Bitcoin options and the recent acquisition by Visa, reaching a record price for the last two months. According to new research, Mondays are the best days to buy Bitcoin (BTC) and have shown as a great chance for this type of investment.The 27% price gain by Bitcoin (BTC) since the beginning of the year along with the future bullish scenarios laid down by investors may attract new crypto holders. However, since BTC/USD is traded 24/7, new investors may be wondering and asking themselves: is there a difference between investing on a particular day of the week.As per the new research, it has been shown that stock returns on Mondays are on average very negative. This is called the Weekend Effect, and one explanation is that the effects on a particular stock will only be felt on Monday since the market is closed during the weekend. However, the crypto market is always open which leads many to ask themselves whether we should expect the same behaviour this Monday for Bitcoin?If we analyze the Bitcoin returns from the beginning of 2019 until January 13 this year, data shows that Fridays present the highest average return across the days of the week at 1.1%. In contrast, only two days of the week show negatively average returns. As per the new research, Mondays seem to be the best days for investors and if you are looking to invest in BTC but want to choose a particular day, Fridays are known for presenting the best cumulative returns followed by Mondays.The Bitcoin weekly trends in the long-term, as the latest crypto news show, indicate that Thursdays and Wednesdays are the worst days of the week to invest in Bitcoin with an average return of -0.09% and -0.23%, respectively.The Monday anomaly case is reinforced from a statistical perspective since Monday is the only day of the week with a statistically significant result from the regression models. If we use the same long-term sample starting from April 2013, we will see that the best strategy is to invest in BTC on Mondays, followed by Saturdays. 
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Google Search Volume For Crypto Is Trending Down Despite Surge

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The crypto hype bubble that rocketed Bitcoin and Ethereum into the public eye and made them household names when they reached all-time highs was also accompanied by a surge in search interest of people who were scrambling to find out what the fuss was all about. However, the recent crypto surge on the markets did not come with a change in Google search volume - in fact, the volume has been decreasing.The latest rally has put a lot of cryptocurrencies up by 250% from what they were worth in less than a month. Even Bitcoin surged and the Bitcoin price news now show that BTC is close to $9,000. However, despite the rally and the fact that this downtrend may be over, the rise in prices is not being followed by a rise in Google search volume.Trading volumes also have not seen any uptick which caused a lot of top crypto analysts to wonder what are the actual benefits of this rally. If you have been following our latest cryptocurrencies news for the last few years, you probably know the FOMO effect which swept the mainstream public when Bitcoin rose to $20,000.The more people heard about BTC, the more they bought it which lead to surges everywhere. The Google Search volume for the Bitcoin price also spiked, reaching all-time highs in late 2017.Now, this is not the case. The prices are going up but the search volume is going down. This was also shared on Twitter by an analyst named Haejin who illustrated the unchanged behaviour:https://twitter.com/Haejin_Crypto/status/1217288329382842369So, as the prices are skyrocketing once again, the crypto community is not that convinced that we are beginning to see the start of a larger trend reversal. The Google Search volume has not only started to trend upward - it is actually trending down now and suggesting that even fewer people are interested in Bitcoin (BTC) now.The same attention who called attention to the Google Search volume is also very leery about the entire leary. Haejin claims that lesser rallies over the last few months experienced more volume - suggesting that this is not the crypto reversal we have all been waiting for.https://twitter.com/Haejin_Crypto/status/1217937419158376457
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Bitcoin News

CME BTC Futures See New Interest, Global Volume Hits $25B

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The Bitcoin derivatives trading now looks set to reach record levels this month as the volume spiked and open interest hovered near the all-time highs. The CME BTC futures are seeing increased interest lately and data from CME Group shows that as of January 16, the open interest alone totalled 5,328 contracts which is 26,640 BTC or $237 million.This figure is higher than any month before and any close that CME has seen since it debuted in December 2017, with July 2019 currently in the lead with 5,252 contracts. However, the CME BTC futures open interest did surpass the current levels earlier in January when it reached around 5,400 contracts as the data from the US regulator the Commodity Futures Trading Commission (CFTC) showed on January 7.As we previously reported in the Bitcoin news, the CME BTC futures are seeing an increased attention from both investors and commentators as many new participants are fuelling a potential Bitcoin price rise in 2020.While all of this is good, another fact which is good is BTC/USD accelerating towards $9,000 this week and triggering the market for another spike. According to unofficial data from the analyst Skew Markets, the worldwide volume has hit $25 billion which is the most since late October.Another analyst named Michael van de Poppe talked about the increased CME BTC futures interest and said:
“I think that's a strong signal indicating that we're reversing now and probably have bottomed out.”
As you may know if you read our cryptonews, CME launched a new product in the form of options on Bitcoin futures earlier this year and the release came days after the competitor FTX did likewise.The company said that it considered the options a "success" as the volumes reached 275 BTC by day two. The long-term demand from institutional investors has long been a preoccupation for crypto businesses. In the 2019 retrospective this week, the venture capital giant Grayscale showed that the annual investment totalled over $1 billion.Besides all of this, many executives and big players are certain that now it is clear that the industry was seeing institutional adoption. Meanwhile, the market is headed in a good direction too and may visit new highs above $250 billion (total) soon.
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Bitcoin News

BTC Is Already Up By 25% In 2020: Now Close To $9K Mark

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The price of Bitcoin hit $9,000 on January 17 as the technical metrics continued to break both local and all-time records. Even though the price later on corrected to the current price of $8,910, we can see that BTC is already up by 25% this year and the signal that it rose to $9,000.At press time, the Bitcoin price news show that a slight retracement had sent the pair slightly lower to $8,900 with its 24-hour returns being still at 3% and its weekly performance remaining stronger at almost 16%. Bitcoin is in a good momentum and the holders are now sitting on monthly gains which are totalling almost 35%.The attention right now is turning to shorter time frames. According to the analyst filbfilb, BTC is already up by a lot this year but despite its bullish overall movements, the cryptocurrency's next close would be crucial in determining the short-term trajectory.Specifically, if the BTC/USD pair were to close below the bullish candle which took it to the current highs, the chance of a bearish reversal would be on the table. The price under such circumstances would then initiate a pattern may keep the pair lower.
“When price pierces above a key swing high but then closes back below that swing high, we have a potential bearish SFP,” the analyst said in a private comment given to one media outlet.
In addition to this and the fact that BTC is already up by 25% in 2020, the 200-day moving average is also hovering around the low $9,000 region. Thus, it will likely present a critical barrier for the bulls if a run-up to $10,000 is to occur.Regardless of this, the cryptonews today show that Bitcoin managed to drag the entire market upwards. Some altcoins are even performing better than BTC now and the total crypto market cap is now at $244 billion.For instance, we can see that Ethereum (ETH) recently hit the $170 mark in a 6% increase, Bitcoin Cash (BCH) is now at $343 with a 8% surge and EOS (EOS) is very close to $4 with a 9% rise overnight.The biggest gainer on the day is Ethereum Classic (ETC) which managed to add 30% to its price and is now at $9.80. Analysts hope that the $10 mark will be crossed today as well.
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