“Opportunity often comes disguised in the form of misfortune, or temporary defeat.”
- Napoleon Hill
Happy Thursday, ladies and gents! I hope everyone is doing great today, unlike the falling crypto markets. 😭 Read on below in case you missed what has happened in the last 24 hours! Also, today in history, NASA launched its 100th Space Shuttle mission (2000). How ironic! 😂
In today's newsletter, we will be covering several major educational institutions investing in the crypto space, when the South Korean government will make its decision on ICOs, and a 3-year challenge to develop a blockchain-powered network of vehicles.
Hope you enjoy today's newsletter, and don't forget to answer the polls down below too (it's about movies)! Happy reading! 📚
One word. Rekt. 📉
BTC fall sharply over the past 24 hours, and is currently down ~4.1% to ~$6,290. It has broken past both the support lines formed from the higher lows it was forming since 17 Sept, and from the triangle pattern is has been trading in since 27 June this year. In just 24 hours, RSI levels on the daily chart dropped from ~53.9 to ~38. MACD indicators are also signalling the start of a bear run. Chances are, we will likely be seeing BTC test the key $6,000 support line in the near future. 👀
The other cryptocurrencies also followed suit, to the tune of a ~$16 billion loss, putting the total market capitalization at ~$201.8 billion. Most of the other cryptocurrencies saw losses in the ~6-12% range. For example, top 10 cryptocurrencies by total market capitalization such as ETH, XRP, BCH and EOS are down ~11.44%, ~12.25%, ~11.79% and ~8.97% respectively. It has been a rough day in the markets... 😒
The party is just getting started
According to 'The Information', several major U.S. educational institutions such as Harvard University, Stanford University, Massachusetts Institute of Technology, Dartmouth College, and the University of North Carolina have followed in Yale University's footsteps, and have each invested in at least one cryptocurrency fund through their respective multi-million/ billion dollar endowments. 💸
The move to invest in these funds that are betting on the nascent crypto industry is indicative of a "major shift in investor sentiment towards the asset class', which could help legitimize and validate the space, and prompt more institutional investors to follow suit. 👍
Making a decision
According to South Korea's head of the office for government policy coordination, Hong Nam-ki, the Financial Services Commission (FSC) of South Korea is going to make a decision in November on whether to allow ICOs in the country again. 😄
Hong stated during a recent National Assembly annual audit, that the FSC has been conducting surveys on ICOs, and will form a governmental position and stance in November based on the results of the investigation. 🤓
The Mobility Open Blockchain Initiative (MOBI) and the Trusted IoT Alliance (TIoTA) have launched a 3-year MOBI Grand Challenge to seek to develop “the first viable” blockchain-powered network of vehicles and system to coordinate machines, provide data sharing and improve the level of mobility in urban conditions. 🚗
The challenge begins on 12 Oct with its first 4-month challenge segment to showcase “potential uses of blockchain in coordinating vehicle movement and improving transportation in urban environments.” Selected technologies from the first challenge will win $350,000 worth of prizes, and be showcased at an event hosted by BMW Group in Munich, Germany in Feb 2019.
The outcome of this first 4-month challenge will serve as the basis to create the next few challenges in the 3-year tournament. 💭
Cryptocurrency exchange Gemini has hired another Wall street executive. Jeanine Hightower-Sellitto, the former chief operating officer at the Nasdaq-owned International Securities Exchange (ISE), will be joining Gemini as the managing director of operations to supervise Gemini's institutional onboarding and to expand the client services team. 🤝
The chief policy officer of Coinbase, Mike Lempres, has said he is confident the firm will receive an operating license in Japan in 2019, and that talks with Japan's FSA are going well, despite the increasing scrutiny on crypto exchanges by the Japanese government. 😊
Russian cryptocurrency exchange, YoBit, is going to perform a pump scheme on random coins, according to an Oct. 10 tweet: "We will buy one random coin for 1 btc every 1-2 mins 10 times (total buy amount - 10 btc)." 😲
Poll of the Day
On a scale of 1-10 (10 being maximum satisfaction), how much do you enjoy watching movies? 🎥🍿
At least everyone gets a little exercise in each week. Don't neglect your health, people! You don't want it coming back to bite you in da butt when you are older! 🏋️
"If you could only do one type of exercise for the rest of your life, what exercise would that be?"
You guys said: HIIT - This is torturous for me, but I understand it keeps you super fit. 💦 Walking - Walking is absolutely therapeutic for both body and mind. It's a great way to get exercise in whilst clearing your mind. 🤯 Push ups - It's a great compound exercise! 👌 Swimming - It's really good on the joints too, so it's definitely sustainable. 😄 Rowing - Damn, rowing is tough. But does it train your legs though? 🤔 The wife - You cheeky bugger, literally laughed out loud for this one. 😛
"What are your favorite ways to keep fit?"
You guys said: Hitting the gym - Pump that iron. 🏋️ Water, deep breathing, walking, food - Keep it simple and sustainable. 😁 I walk a lot - Walking is great! 👍 Drugs - Whut? 🙃 Hill Walking over the Yorkshire Moors with my Dog - That place looks amazing. I'm jealous you get to walk there often! 😍
Thank you all for reading! See you back here again tomorrow!💙💙💙
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