Today's Crypto Updates:

1. Fundstrat’s Tom Lee Stays Bullish On BTC Price, Sees Major Firms Joining Crypto Sphere
2. J.P. Morgan Sees Crypto As ‘Competition’ And ‘Risk’ To Its Business In SEC Annual Report
3. Coinbase: BTC Buys And Sells Issue Resolved, Bitcoin Performance Still ‘Degraded’
4. Germany Won't Tax You for Buying a Cup of Coffee With Bitcoin

Summary Of Today's News:

Tom Lee still thinks BTC will hit $25,000 by end of year. J.P. Morgan worried about crypto. Coinbase fixes it's tech issues. Germany won't tax crypto transactions. Read all about it below!

1. Fundstrat’s Tom Lee Stays Bullish On BTC Price, Sees Major Firms Joining Crypto Sphere

Source: https://cointelegraph.com/news/fundstrats-tom-lee-stays-bullish-on-btc-price-sees-major-firms-joining-crypto-sphere

Key Highlights:

• "Co-founder and Fundstrat strategist Tom Lee has repeated his prediction that Bitcoin (BTC) will reach $20,000 by mid-year and $25,000 by the end of the year."

• "Despite BTC now trading at almost 53 percent of its December, 2017 high of over $20,000 — around $10,700 at press time according to CoinMarketCap — Lee maintains his $25,000 prediction for 2018."

Crypto Phil's Take:

I definitely wouldn't be surprised if his prediction came true. A lot of big companies seem to be moving into the crypto sphere as of late. It's clear that there is a lot of potential with the technology.

2. J.P Morgan Sees Crypto As ‘Competition’ And ‘Risk’ To Its Business In SEC Annual Report

Source: https://cointelegraph.com/news/jp-morgan-sees-crypto-as-competition-and-risk-to-its-business-in-sec-annual-report

Key Highlights:

• "J.P. Morgan Chase has added a segment on cryptocurrencies to the “Risk Factor” section of their 2017 annual report to the US Securities and Exchange Commission"

• "This competition could potentially 'put downward pressure on prices and fees for JPMorgan Chase’s products and services or may cause JPMorgan Chase to lose market share.' "

Crypto Phil's Take:

This just adds further legitimacy to the first article I covered in today's post. When big companies like J.P. Morgan Chase are worried about Crypto, that's definitely a sign that cryptocurrencies aren't going anywhere.

3. Coinbase: BTC Buys And Sells Issue Resolved, Bitcoin Performance Still ‘Degraded’

Source: https://cointelegraph.com/news/coinbase-btc-buys-and-sells-issue-resolved-bitcoin-performance-still-degraded

Key Highlights:

• "Digital currency exchange and wallet service Coinbase has resolved the issue of intermittent availability for BTC buys and sells, the platform reported today"

• "It took the Coinbase maintenance crew almost seven hours to investigate and fix the issue where one of their processes was “causing Bitcoin buys and sells to become temporarily unavailable”."

Crypto Phil's Take:

I always sweat a little when I see an issue with Coinbase. If this exchange ever has a major issues, it's gonna be worse than Mt. Gox.

4. Germany Won't Tax You for Buying a Cup of Coffee With Bitcoin

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

Key Highlights:

• "Germany won't tax bitcoin users for using the cryptocurrency as a means of payment, the Ministry of Finance has said."

• "Instead, Germany will regard bitcoin as the equivalent to legal tender for tax purposes when used as a means of payment, according to a new document."

Crypto Phil's Take:

Well, that's definitely good news for cryptocurrency holders in Germany. Seems like Germany is trying to promote the use of crypto within the country. This could have big implications going forward.

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