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Struggling bitcoin will double by mid-year, Wall Street’s Tom Lee says

Fundstrat's Tom Lee expects the cryptocurrency market to recover, helped by historical price trends and crypto-related announcements by some major companies. Japanese e-commerce company Rakuten announced Tuesday it is planning to launch a cryptocurrency called "Rakuten Coin," according to news reports. "The announcement by Rakuten is another example of positive developments in crypto in 2018,…

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Hedge funds gain another avenue to bet against bitcoin

As institutional demand grows for cryptocurrencies, Genesis Global Trading is launching a digital currency lending business called Genesis Capital to enable investors to borrow bitcoin, ether and others for a fixed amount of time. One of the uses will be for investors who want to bet against bitcoin without taking on a lot of risk.…

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Pending home sales drop 4.7 percent in January

The housing recovery appears to be making a U-turn as mortgage rates rise amid a critically low supply of homes for sale. Pending home sales, which measure signed contracts, not closings, fell 4.7 percent in January compared to December, according to the National Association of Realtors. It is the lowest point in nearly four years.…

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