🗞 Daily Crypto News, November 18th 💰

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NEO Price Surpasses $39 as Rumor Mill Hits its Stride
Ripple CEO and Ethereum Co-Founder Bash ICO Industry
Rapid Increase in Tether Supply Raises Concerns of Manipulation, Creative Accounting
European Central Bank Considering Bitcoin Regulation According to Council Member
Bitcoin Bears Get Boost with Swiss Short Notes Offering Limited Loss Potential
BTC Trading Update by @cryptopassion

🗞 NEO Price Surpasses $39 as Rumor Mill Hits its Stride

It certainly appears to be the season to pump altcoins, by the look of things. After we have seen a few different cryptocurrencies get their pump of the month on, NEO appears to be the latest one in this line. More specifically, the NEO price has risen to over $38 over the past few hours, indicating strong growth and speculation for this particular altcoin. Whether or not this can become a long-term trend, remains to be determined.

🗞 Ripple CEO and Ethereum Co-Founder Bash ICO Industry

In a recent interview, Ripple chief executive officer, Brad Garlinghouse, and Ethereum co-founder, Joseph Lubin, have criticized the current state of the ICO industry. The pair expressed concerns that although many “high-quality projects” are using ICOs as a fundraising vehicle, numerous “copycat projects” have raised money without “intend[ing] to deliver any value to the people buying the tokens.”

🗞 Rapid Increase in Tether Supply Raises Concerns of Manipulation, Creative Accounting

Tether has always been a controversial token - claimed to be redeemable for fiat currencies but shunned by the fiat banking system. However, the rapid expansion in Tether supply has raised concerns about whether this could be one of the reasons for the overall cryptocurrency boom.

The overall supply of tether has rapidly increased in 2017. Since the price of each tether is pegged to fiat (dollar or euro), the overall market capitalization reflects the underlying supply of tethers. The total market cap of tether has shot up from $6.9 mln in November 2016 to $645 mln currently. That is 100x increase in supply in the last year.

🗞 European Central Bank Considering Bitcoin Regulation According to Council Member

According to Reuters, the European Central Bank (ECB) is considering regulating the use of digital currencies. Governing council member Ewald Nowotny commented:

“We’re asking ourselves if legislators or central banks should intervene, as happened in China where they banned (the use of cryptocurrencies) because they consider them fraudulent.”

🗞 Bitcoin Bears Get Boost with Swiss Short Notes Offering Limited Loss Potential

Bloomberg’s Quint reports, “New certificates could usher in more two-way price movement in what has largely been a one-way market so far,” referring to markets’ bull preference when it comes to bitcoin futures.

As has been widely reported, Chicago Merc (CME) will create a futures market for bitcoin before year’s end. However, bitcoiners are well aware that price fluctuations, though trending ever-upward, can rollercoaster to rather low-lows. And especially for the droves of newer investors bitcoin is bringing to market, cryptocurrencies are the ultimate scream machine.