Definition of a bear market: stupendously good news doesnt move the needle.
Mixed news at best:
http://fortune.com/longform/nyse-owner-bitcoin-exchange-startup/Sprechers plan for bringing crypto to the masses runs contrary to what Bitcoin supporters typically champion. The purists favor Bitcoins distributed architecture, and adamantly oppose putting a big exchange at the center of the both the Bitcoin investment and payments systems. A regulated exchange with a custodian in the middle contradicts the basic idea of Bitcoin, says Abhishek Punia, a crypto-currency analyst with venture capital firm Draper Associates. Bitcoin was designed to be decentralized, without intermediaries taking fees. A regulated exchange may be popular for a short period of time, but its not the future. The future will be the original idea of a peer-to-peer network.
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Bitcoin cant survive as a rogue idea, he [Sprecher]says. To evolve, the cryptocurrencies need to run on established infrastructure. They need the trust and rules that have been built into our financial system for many years. They need the kind of trust that the Big Board represents.
All that, and the coffee is foul.