Cryptocurrency Market Review 27.04.2018

Pantera Capital CEO: Crypto could grow to $40 trillion. Dan Morehead, chief executive officer of $1 billion cryptocurrency hedge fund Pantera Capital Management LP, believes the cryptocurrency market capitalization could reach $40 trillion. Morehead said Pantera has about 10 percent of its investments in Bitcoins, which approached $20,000 apiece late last year before retreating to about half that in the following months.

Mt. Gox moves 16,000 BTC and 16,000 BCH coins out of its wallets. Notorious cryptocurrency exchange desk Mt. Gox, which went down in 2014, along with 850,000 of its users' Bitcoin, has transferred 16,000 Bitcoin and 16,000 Bitcoin Cash to two separate addresses, according to a Mt. Gox cold wallet monitor CryptoGround. This is the first time that Mt. Gox has moved any of its coins since February. Prior to this development, Mt. Gox had unloaded approximately half a billion dollars worth of Bitcoin and Bitcoin Cash in the period between December 2017 and February 2018.

Litecoin creator regrets selling his entire holding. Charlie Lee, the founder of Litecoin cryptocurrency, has hinted that he has some regrets about selling his entire holding. In an interview streamed over YouTube on Friday, he said that “it feels like it's not the right decision” after the recent fall in Litecoin's value. Lee sold his entire Litecoin holding on December 20, saying the move was meant to remove any perception of “conflict of interest.”

France cuts tax rates for retail cryptocurrency traders. The French Council of State announced on Thursday that the profits generated by cryptocurrencies should be considered as capital gains, which means the tax will be cut from the current 45% to 19%. This comes due to a change in the classification of cryptocurrency. France’s highest administrative court, the Council of State, determined that cryptocurrency profits are considered “movable property” and therefore subject to a lower tax rate than had previously been imposed.

For the full list of ongoing and expected ICOs click here.

By Siranush Ghazanchyan