The Bitcoin crash halted and reversed and now is feverishly running higher. But it came at a cost. All of the cryptofags who were savvy and keen to swap over to Bitcoin Cash are being eliminated from the game of play. A see-saw event is underway, with BTC higher by 11% and BCH plunging by more than 20%. This is a well deserved wallop and we hope to see many more of these in the coming days and weeks to come. Nevertheless, due to the large capped nature of BTC, the overall crypto space is now worth more than $200 billion for the first time ever — clocking in at $202b.
Dow futures couldn’t care less — down 50.
Europe is trading decidedly lower, with the Dax -0.5%
Here is some notable news, pre-market open.
GE SLASHES DIVVY BY 50%
Rio Tinto downgraded to Neutral from Overweight at JP Morgan
NVIDIA upgraded to Market Perform from Underperform at BMO Capital Markets
TD Ameritrade upgraded to Buy from Hold at Deutsche Bank
JD.com beats by CNY0.80, reports revs in-line; guides Q4 revs in-line
Also, with BREXIT talk in the air, the pound is lower by 0.8% v the dollar and the US yield curve is widening a bit at 71.7bps.If you enjoy the content at iBankCoin, please follow us on Twitter