Is the bottom in? Crypto prices are up this week, even as U.S. stocks sank deeper into correction territory. Some prominent crypto backers, like Brian Kelly, have said they are now short bitcoin. Another big crypto investor, Galaxy Digital’s Mike Novogratz, remains bullish on the market. But many investors admit they have no idea which way things will go in 2019. What we’re watching: regulators’ next moves, and whether crypto will find a mainstream use. And check out Sam Lessin’s smart predictions for the next year in crypto.
Also in the news this week: Coinbase launched crypto-to-crypto trading, enterprise blockchain startup Digital Asset’s CEO stepped down and, oh, right, Basis is shutting down and returning most of its $133 million to investors. We have more below on projections Basis made for its cryptocurrency, plus a look at how EOS block producers are grappling with the market downturn.