Crypto News: What you missed in January 2020

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It’s a new year and a new opportunity for the crypto market to grow. 2020 started with an electric feeling in the air. The market showed signs of recovery as the market cap rose almost 33% over the course of the month.

The slow recovery is a promising signal for the year to come. It’s clear the optimism is running deep in the community. The expectation seems to be that this is the year of cryptocurrency.

Let’s dig into some of the other news from this month.


Bitcoin and major altcoins attempt a recovery

Altcoins were struggling towards the end of 2019, but the first month of 2020 has shown signs of a reversal. There has been a buzz around the crypto market as the market experiences a slow breakout.

News from Japan

Japan’s Democratic Party is looking to propose a national digital asset, however, the Japanese Finance Minister claims there is no digital asset on the horizon. Additionally, the Bank of Japan debuts their digital currency research group.

Coinbase launches international custody arm

Coinbase sets its roots down in Europe by establishing an Irish firm that will aid in the expansion of Coinbase’s custody services.

Top performing cryptos in January

While some cryptocurrencies are seeing slow recoveries, there have been a few noteworthy breakouts in the crypto market. These include Ethereum Classic, Litecoin, Bitcoin SV, ZCash, and Dash.

Iran issues 1000 crypto mining licenses

The Iranian government has moved forward with 1,000 cryptocurrency mining licenses, based on reports. Although electricity costs have remained a concern for smaller mining operations in Iran, larger investors have proven successful in opening up new operations in the country.

2020 predictions

January has historically been the month for predictions. This year, Brian Armstrong (CEO of Coinbase) threw his thoughts into the mix with his blog post about his thoughts for 2020. These included hot topics like scalability and privacy, but also less popular topics relating to central banks and “the billionaire flippening”.

Diversifying portfolios in crypto

Periodically, we see the news revisit the topic of how much cryptocurrency should be included in your investment portfolio. In the latest take by CNBC, they suggest a 1% allocation to cryptocurrency may be the right level of risk for many investors.

Bank of England

The Bank of England has begun considering the cryptocurrency landscape and how it would look if they began adopting a digital currency. In an effort to evaluate the possibilities, they have begun meeting with other major banks across the world to research options for a central bank digital currency.


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