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2018 started off with a bang in the crypto markets. There has not been a dull moment, and if January is any indication, we are all in for a wild ride this year. Here are this week’s top stories from the world of cryptocurrency.
Bitcoin, and in fact, many cryptos where in the red this week as we saw a market correction. This correction was expected as the market have been on a run since December. During this explosion of popularity, we saw crypto reach highs never seen before. At a point, bitcoin was trading at $20,000 so this 50% pull back is not surprising and is health for the overall market.
This week Soul, South Korea hosted the Blockchain Revolution conference. A conference which brought together many in the cryptocurrency and blockchain technologies space. There where many noteworthy speakers at this event. The highlight may have been the presentation given by NEO’s co-founder Da Hong Fei.
On a lighter note, the Japaneses pop band Virtual Currency Girls debuted this week. These women wear uniforms and colorful masks with cryptocurrency logos on them. They do this while singing bubbly songs with upbeat tunes. They are also paid in bitcoin for there work.
VeChain (VEN) continues to expand its partnerships and this week was no exception. Its been made public that they are now partnering with the Tobacco Monopoly administration and China Central Government owned China National Tobacco Corporation. This is an important partnership, as it will allow VeChain to secure China’s tobacco industry from counterfeiting.
Many of us in the crypto community knew about the BitConnect scam, but could do nothing to stop it other than to warn people to stay away from it. Finally, regulators have done their job and shut it down. Though I hope it is for good, we have to wait and see as these guys are slippery as sneaks. I hope that people stop listening to all this YouTubers that where pushing the Bitconnect scam on unwitting people.