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JPMorgan says Bitcoin slightly overvalued as a commodity By Cointelegraph

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JPMorgan says Bitcoin slightly overvalued as a commodity

Multiple JPMorgan Chase (NYSE:) experts analyzed Bitcoin’s current price when compared to other commodities, and noted that the asset could see selling pressure ahead.

“The JPMorgan strategists said they calculated an intrinsic value by effectively treating as a commodity and looking at the marginal cost of production,” according to an Oct. 14 article from India’s BloombergQuint media outlet — a partnered entity involving Bloomberg and Quintillion Media. The article added:

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Cryptocurrency

US AML watchdog wants info on all international crypto transactions over $250 By Cointelegraph

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US AML watchdog wants info on all international crypto transactions over $250

The Financial Crimes Enforcement Network (FinCEN) and Federal Reserve are looking to get more information on smaller transactions than ever before.

According to a notice of proposed rulemaking published on Friday, the agencies want to lower the $3,000 threshold established in 1995 to $250 for international transactions, meaning that financial institutions would need to exchange client information alongside all transactions greater than $250 that begin or end outside of the United States. Which is to say, the Travel Rule, as it is known, would apply to quite small amounts of money changing hands.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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South Korean gov’t doesn’t know who will protect crypto exchanges from Kim Jong-Un’s hackers By Cointelegraph

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South Korean gov’t doesn’t know who will protect crypto exchanges from Kim Jong-Un’s hackers

There has been a hot political debate underway on who should take responsibility for countering North Korean hacks targeting South Korean cryptocurrency exchanges. Recently, South Korea’s financial watchdog made it clear that they do not see this issue as any of their business.

According to Fn News, the Financial Services Commission, or FSC, has replied to a written inquiry from the National Assembly’s Political Affairs Committee on October 23. The FSC says that they’re not responsible for the crypto stolen during attacks from hackers sponsored by the Kim Jong-un’s regime, such as Lazarus Group, on crypto exchanges.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Cryptocurrency

For the first time since 2018 Bitcoin balances on exchanges fell below 2.5M By Cointelegraph

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For the first time since 2018 Bitcoin balances on exchanges fell below 2.5M

On October 20, 2020, the amount of (BTC) held at major exchanges fell below 2.5 million BTC for the first time in two years.

Source: Glassnode.

Nexo co-founder Antoni Trenchev opined to Cointelegraph that this trend is driven by the world finally realizing that only Bitcoin offers sound monetary policy:

Source: Glassnode.
Source: Digital Assets Data.
The biggest losers: Exchanges that led the trend. Source: Cointelegraph, Glassnode.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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