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Staying updated on the ever-changing cryptocurrency market doesn’t have to be as tough as keeping up with the Kardashians. I’ve rounded up the latest set of news to help y’all stay in the loop.

Bitcoin vs. Buffet

Cryptocurrency markets weren’t exactly off to the best of starts for the week because, apart from the profit-taking in bitcoin at $10,000, negative remarks from investing guru Warren Buffet also took their toll on prices.

In an interview with CNBC, the CEO of Berkshire Hathaway said that bitcoin was “rat poison squared” in that it would never be anything of value. He stated:

“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth.”

Perhaps only time will tell if the Oracle of Omaha is spot-on, but it’s also worth noting that Buffet has been a long-time bitcoin bear as he called it a “mirage” back in 2014 when it was trading at a mere $600.

ICE bitcoin trading platform in the works?

Goldman Sachs, Soros Fund Management, and now NYSE’s parent company ICE… It looks like the top guns in the financial industry (minus Warren Buffet) keep warming up to cryptocurrencies!

Word on Wall Street is that Intercontinental Exchange is gearing up to launch an online bitcoin trading platform that could allow big market players to buy and hold the cryptocurrency.

ICE has remained mum on this hush-hush project, but The New York Times also reported that the idea of setting up bitcoin swaps might be in the works as well. Can you smell the institutional moolah ready to flow in?

For now, though, it seems that regulation could still be an issue since a swap contract would have to be overseen by the CFTC. This would be treated differently from bitcoin futures as the ICE plans on giving its clients direct access to bitcoin itself.

Fed: Bitcoin futures sparked December price drop

On the subject of bitcoin futures, research conducted by the Federal Reserve Bank of San Francisco indicated that the launch of bitcoin futures last year spurred the sharp price drop from $20,000 in December.

The document suggested that this financial product allowed pessimists to bet on the fall of bitcoin price, something that was not previously possible since the market was mostly driven by optimists. It stated:

“The new investment opportunity led to a fall in demand in the spot bitcoin market and therefore a drop in price. With falling prices, pessimists started to make money on their bets, fueling further short selling and further downward pressure on prices.”

Furthermore, it cast doubts on whether or not bitcoin could remain the dominant cryptocurrency, citing:

“If a different cryptocurrency becomes more widely used as a means of exchange in the markets currently dominated by Bitcoin, demand for Bitcoin may drop precipitously because these tend to be winner-takes-all markets.”