Bitcoin Watch – Cryptos jump up to 10% following positive news and developments of the week

17 July, 2018

Bitcoin's value jumped almost 10% overnight to around USD7,330. The prices of Ethereum, ripple, and lite coin also got a boost increasing by between 5-10%. Forbes is attributing the increase to positive developments in the crypto world including: the appointment of David Solomon as the new chief executive of US investment bank Goldman Sachs; the world's biggest asset manager BlackRock setting up a working group to investigate ways it can take advantage of the cryptocurrency market; international financial watchdog, the Financial Stability Board releasing a report that found bitcoin and cryptocurrencies do not currently pose a material risk to the global financial system; and billionaire Steven Cohen, the founder of Point72 Asset Management, reportedly investing in crypto hedge fund Autonomous Partners.

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