Category Archives: Cryptocurrency
Cryptocurrency and COVID-19: Bitcoins Path to a Safe Haven – Cointelegraph
Aren't we all searching for a safe haven? Whether we mean literal shelter four walls and a roof over our heads or something more sophisticated, the craving for a dependable defense against random chaos has always been our instinct.
With the COVID-19 pandemic rearranging society at every level, the allure of a safe haven reigns supreme for our battered psyches. In the realm of financial instruments, the search for the safest of safe havens, also known as a store of value, has taken on a new urgency. Is Bitcoin (BTC) a safe haven? Will cryptocurrency prove to be a store of value above all?
Many Bitcoin believers have been confident in crypto's ability to securely serve as a safe haven. But even the most devout blockchain boosters would admit that the coronavirus is betraying their store of value expectations, at least in the short term, as Bitcoins price has not remained resolute since COVID-19 became a global concern. It has exhibited big swings from around $10,000 to a low of near $4,100 in the first quarter of 2020 and now sits at approximately $9,500 at the time of this writing.
While Bitcoin has the potential to shelter value for many more of us than other safe-haven options, we will need a well-coordinated effort among the crypto community and regulators to get us there.
Safe havens have long played a key role in economics and investing. Traditionally, a safe haven has been an investment in an instrument expected to increase its value during market uncertainty. Safe havens add diversification to portfolios and are crucial investment strategy components for retail players and institutional investors alike.
With their deep history in serving humanitys sense of well-being, there is not surprisingly a long list of safe havens that predate Bitcoin. These include commodities, United States Treasurys and select fiat currencies, equity strategies and hedge funds, as well as more tangible assets such as precious metals (gold and silver), real estate and even art.
Now, cryptocurrencies have been added to that list. Although Bitcoins origins are firmly rooted in a peer-to-peer electronic cash system, a funny thing happened on the way to fulfilling those utilitarian aims. Satoshi Nakamotos blockchain-based creation morphed into something much more akin to a security, as long settlement and transaction times make it a less attractive method of payment. Meanwhile, its rise in value over the last decade has far exceeded anyone's expectations: Bitcoin has outperformed every other asset class including real estate, gold and the S&P 500.
Bitcoins financial status has evolved yet another step and is seen in many circles as a safe-haven instrument. Complete decentralization is at its core, keeping Bitcoin away from the whims of central banking and governments appetites for quantitative easing. In a brilliant stroke, digital scarcity is hardwired into its DNA: The supply of tokens is firmly capped at 21 million, a key characteristic that should continue to drive its price higher over time and has led to the widespread perception that Bitcoin equals digital gold.
And as a bonus, Bitcoin trumps all other safe havens as a tool for global trade. While that aforementioned transaction time currently standing at a tick over nine minutes is unacceptable for buying your proverbial cup of coffee, it sure beats trying to transact with gold bullion over the internet.
To be sure, Bitcoin has flaws preventing it from becoming a rock-solid store of value. Global regulation of cryptocurrency is still maturing. With few universal rules on how trades can be executed, there is room for market manipulation, which can lead to questions regarding how authentic some crypto price movements are. And while Bitcoin currently trades at gains that are positively astronomical compared with when it first came online, cryptocurrency remains a very volatile asset class.
That shouldnt stop Bitcoin from succeeding in a big part of its core promise: helping the worlds population to be better prepared for unforeseen global economic crises such as the current market crash that was brought about by the coronavirus pandemic.
In perhaps an ironic twist to Bitcoins borderless ethos, this progress starts at the government level. With solid regulation of blockchain technology and cryptocurrencies, everyday people can be more in control of their wealth. Peer-to-peer lending, instead of loans and mortgage rates from banks, would make loans easier to access for everyone globally, leading to more accessible and affordable credit.
While increased oversight introduces more processes, more regulation also enables the market to progress. A lack of regulation means a lack of trust, which means a lack of adoption and when theres a lack of adoption, theres a lack of markets. Institutional investors stand to see great gains with solid regulation, which will open doors to the mass adoption of products. Investor confidence and trust will naturally follow, as will fresh innovation opportunities, with the overall market capitalization increasing commensurately.
And for a planet under quarantine, crypto only becomes more important. For the 1.7 billion people who are currently unbanked, living under physical mobility restrictions makes sending or receiving money that much harder. Whether they need to transact internationally or with a neighbor, people who are sheltering in place can use layer-two protocols to send crypto payments anywhere and settle within seconds, 24/7. The cost of doing business can also be drastically reduced with crypto, thanks to relatively low fees. In 2019, for example, a $1 billion BTC transaction cost a frugal whale a mere $690 in transaction fees such a low fee would be impossible to achieve in the foreign exchange markets with interbanking rates applied.
Better regulation is just half the battle. As has often been the case with all things blockchain, the bottleneck to wider cryptocurrency adoption therefore making it a safe haven for billions more people is a lack of reliable information.
Were more than 10 years into the blockchain revolution, yet only a very small percentage of the global population understands what it is and even fewer understand its connection to cryptocurrency. When the average person has a firm grasp of the blockchain/crypto ecosystem, adoption will face less friction.
As popular as crypto seems to those of us in the industry, we must exit the echo chamber and accept that it is not in the mainstream. The general public mostly hears about Bitcoins large price fluctuations or negative stories about how it could be used in a money-laundering operation. Very few journalists outside of our vertical know what to make of it.
A lot of people use fiat currency without understanding central banks and monetary policy, but they do know how to spend it and access it. Cryptocurrency faces an extra hurdle in that regard: Not only do people not understand it, they also dont know how to spend or gain access to it.
No wonder, then, that theres insufficient engagement in cryptocurrencies. We suddenly have thousands of currencies on blockchains, but most people cant comprehend how a currency can work, or be worth something, without a bank or a government backing it.
Engagement will require more people to grasp what a blockchain does and what the various cryptocurrencies can accomplish in their jurisdictions. Every person in the industry is responsible as a pioneer to educate as many people as possible on the benefits of crypto and how it can become one of our everyday means of payment and value storage. We also need to take some time out of our busy schedules to pass the message on to regulators as to how they can best manage the role of cryptocurrency in the global economy.
When Bitcoin and cryptocurrency make sense to everyone, well truly see it as a digital safe haven one that diminishes our fear of the economic impact of pandemics and other disasters. The more we can put our time into education and disseminating clear information, not just perfecting our investing, the sooner we can build a bigger boat with blockchain.
The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Arthur Wiseberg is the head of institutional sales in Europe at Apifiny, a digital asset marketplace that facilitates institutional access to regulated, global financial markets. He began his career in investment banking, focusing on regulation, portfolio structuring and sales across various traditional asset classes for firms such as BlackRock, Barclays Capital and Societe Generale. Prior to Apifiny, Arthur worked with various digital assets as the head of CIS institutional business for Huobi Global.
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Cryptocurrency and COVID-19: Bitcoins Path to a Safe Haven - Cointelegraph
Analysis on Impact of COVID-19- Cryptocurrency Mining Hardware Market 2020-2024 | Rising Popularity Of Mining Pools to Boost Growth | Technavio -…
LONDON--(BUSINESS WIRE)--Technavio has been monitoring the cryptocurrency mining hardware market and it is poised to grow by USD 2.80 bn during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., and Shenzhen MicroBT Electronics Technology Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Rising popularity of mining pools has been instrumental in driving the growth of the market. However, declining cost of mining hardware might hamper market growth.
Cryptocurrency Mining Hardware Market 2020-2024 : Segmentation
Cryptocurrency Mining Hardware Market is segmented as below:
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43766
Cryptocurrency Mining Hardware Market 2020-2024 : Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our cryptocurrency mining hardware market report covers the following areas:
This study identifies increasing popularity of ICOs as one of the prime reasons driving the cryptocurrency mining hardware market growth during the next few years.
Cryptocurrency Mining Hardware Market 2020-2024 : Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the cryptocurrency mining hardware market, including some of the vendors such as Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., and Shenzhen MicroBT Electronics Technology Co. Ltd. Backed with competitive intelligence and benchmarking, our research reports on the cryptocurrency mining hardware market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Cryptocurrency Mining Hardware Market 2020-2024 : Key Highlights
Table Of Contents :
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer Landscape
Geographic Landscape
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Analysis on Impact of COVID-19- Cryptocurrency Mining Hardware Market 2020-2024 | Rising Popularity Of Mining Pools to Boost Growth | Technavio -...
Top Cryptocurrency Trading Bots 2020 – Conquer The World – KryptoMoney
Cryptocurrency Trading Bots have begun to conquer the world of Cryptocurrency trading for quite some time now. A lot of new entrants have entered the arena.
Hence, we try to pick out some of the best that we do have in the industry right now.
Keep reading!
Cryptocurrency trading is computer generated software programs that conduct transactions automatically based on interpretation of the market data. These applications can help you to buy or sell on your behalf. This is done with the use of predefined programs or conditions. It can even act per your preference and tastes by adjusting the settings. There are a number of cryptocurrency exchange software development services out there helping you to build one.
There are certain features that your Cryptocurrency Trading Bot should offer you. Some of them are discussed below:
Reliability is a significant factor that your Cryptocurrency trading bot should possess. The Cryptocurrency Bot should be dependable at any interval of time. It should not go offline or not be affected by any technical glitches during the peak period.
Cryptocurrencies are highly valuable, and the transactions we conduct should be safe from any external threats like cyber attacks, hacking, etc. Your Cryptocurrency Trading Bot should be following the latest security standards.
The Cryptocurrency Trading Bot you are selecting should provide profit or revenue to its users.
Transparency factor is what makes a Cryptocurrency Trading Bot trustworthy among the users. Transparency was the same reason why the Cryptocurrencies was accepted across the world.
The concept of Cryptocurrency trading bots was introduced with the idea to make the entire process of Crypto trading more easy and efficient.
Cryptocurrency trading has become more popular in recent years and hence there is a considerable increase in the list of top cryptocurrency trading websites and cryptocurrency trading bots as well. In the next section, let us get into the list of top Cryptocurrency Trading Bots in the year 2020.
Two brothers started the Cryptohopper platform. They can be undoubtedly placed on this list due to multiple reasons. Cryptohopper is run on cloud servers and not in the traditional ones. The main advantage of using cloud servers is that it supports round the clock trading. The interface they own is a completely user-friendly one. Moreover, the process of trading can be set up within a matter of just five minutes.
Some of the features they do provide top-loss, full technical analysis from various providers like MACD, Stoch, etc. The first month of its usage is completely free, but afterward, they may upgrade to packages like Bunny($19 p/m), Hare ($49 p/m), and Kangaroo ($99 p/m).
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3Commas supports many popular exchanges like Bittrex, Biniance, Bitstamp, KuCoin, Poloniex, GDAX, Cryptopia, Huobi, and YOBIT.
This Cryptocurrency bot works 24*7 and can be operated through both webs as well as the mobile platform. Some of the main attractions of this trading bot are that you can set stop loss and take profit targets. Moreover, it also allows following the same strategies, followed by the most successful Crypto traders!
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3. Haasbot
Haasbot was started in the year 2014 by the Haasonline. It allows trading Bitcoin and other major Cryptocurrencies. It is one of the most comprehensive Cryptocurrency trading bots available in the market right now.
Haasbot requires only a minimum number of inputs by the user. But a slight disadvantage of this Cryptocurrency trading bot is that its slightly costly compared to its peers. The costs range between 0.04 BTC and 0.07 BTC for three months.
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Kryll.io is a perfect Cryptocurrency Trading Bot that allows you to trade the Cryptocurrencies at the right time. It was founded by a team of programmers, namely, Luca Benevelo, Philippe Longere, and Paul Collorafi. They do have some extremely unique features that no other Cryptocurrency trading bots can even claim of. Since it was launched in the year 2018, they introduced the concept after a long period of research and study about the environment.
They do have even tools based on Artificial Intelligence like Sentiment Analysis and trend prediction by Deep Learning.
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5. Gekko
Gekko Cryptocurrency trading bot is an open-source platform that anyone can use completely free. This is one of the major reasons for its wide popularity. Gekko provides a very flexible editor and thus infinite possibilities for the users. This is more a kind of user-friendly interface, so even the people who dont know how to code can deal with it much more efficiently.
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6. Gunbot
Gunbot provides a lot of exclusive features like Bollinger Band, Ping pong, and Step Gain. They come with mainly three package plans, namely, Gunbot Standard (priced at 0,050 ?), Gunbot Pro(priced at 0,075 ?), Gunbot Ultimate (priced at 0,125 ?). Gunbot is available on various Cryptocurrency exchanges like Poloniex, Kraken, Bittrex, and Cryptopia.
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7. Zenbot
Zenbot is another open-source Cryptocurrency trading bot like Gekko. It is available on all major operating systems and can be customized according to the users preferences. Zenbot is based on the latest technologies like Artificial Intelligence and Deep Learning.
Some of the major exchanges they support include Kraken, Gemini, GDAX, Bittrex, Quadriga, and Poloniex.
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Cryptocurrency is expected to be the future money, where no third parties are involved. Also, one of the best options available to invest. One of the major disadvantages of them is its volatile nature. But those things are too now taken care of! Cryptocurrency Trading Bots are one of the right movements in the same direction. They allow us to trade the Cryptocurrencies at the right time, automatically.
Well, this blog has tried to bring out some of the Top Cryptocurrency Trading Bots of 2020. Do proper research and choose one from the list that suits your policies the best.
Jeseena. K is a senior content writer at CryptoSoftwares, a leading Blockchain, and Cryptocurrency Development Service, Provider. She is a voracious reader and she spends her free time reading a broad spectrum of subjects ranging from fiction to the latest software technology.
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Top Cryptocurrency Trading Bots 2020 - Conquer The World - KryptoMoney
Crypto hedge funds struggle to recover from bloodbath – Financial Times
Vlad Matveev has learnt the hard way how volatile cryptocurrency hedge funds can be.
The 50-year-old Muscovite invested $250,000 last year with California-based Cryptolab Capital, which targeted double-digit gains from trading crypto regardless of whether the market rose or fell. But Mr Matveev said his investment fell 98.5 per cent in value when the fund folded in this years coronavirus-induced turmoil.
I dont really know what happened, said Mr Matveev, a fund manager-turned-private investor. They said they had a diversified set of strategies.
Investors have been drawn to crypto hedge funds by the promise of big returns compared with the paltry or negative yields on offer from cash or bonds. This year, bitcoin has emerged from the big March sell-off as one of the best-performing assets: up 36 per cent for the year, compared with the S&P 500s 8 per cent fall.
Price discrepancies between the same assets on different exchanges, which have long been arbitraged away in stock and bond markets but still exist in crypto, also offer traders a way to make money. The total value of the crypto market comes to $265bn, according to coinmarketcap.com.
But achieving those returns has often proved a bumpy ride for hedge fund investors. A 39 per cent drop in the price of bitcoin on March 12 caught many funds by surprise, leading to large losses and some fund closures, particularly among those running high levels of risk.
Its an understatement to say its a bloodbath across the board, said Edouard Hindi, partner at Mayfair-based hedge fund Tyr Capital. Tyr is one of the better-performing crypto funds this year, up 11 per cent.
Performance in the crypto hedge fund sector tends to swing more wildly than in other, more mainstream strategies, where the arrival of large institutional investors over the past decade has damped risk-taking. Crypto funds on average lost 26.2 per cent in March, according to hedge fund research groupHFR, their second-worst monthly loss in data stretching back to 2015 and much greater than the 8.4 per cent average loss suffered by mainstream hedge funds.
But a 19.5 per cent gain last month has lifted crypto hedge fund returns this year to 13.4 per cent, HFR said much better than the average 6.7 per cent year-to-date loss across the wider hedge fund industry.
The speed and depth [of the bitcoin sell-off] wasnt what we were expecting, said Dan Morehead, former head of macro trading at Tiger Management and founder of California-based Pantera Capital. Mr Morehead said he worked 20 days straight during those choppy markets, including staying in the office until 2am on March 24.
Pantera, which at $500m in assets is one of the sectors biggest players, suffered a 33.6 per cent loss in its Digital Asset fund in March, although it has recovered to stand up 32.5 per cent this year.
One big source of volatility was the large amount of leverage taken on by some traders, which amplified already-wild swings in cryptocurrency prices. Some exchanges offer derivative contracts that can be up to 100 times leveraged, and automatically liquidate losing positions beyond a certain point, which can exacerbate falls.
Some futures exchanges offer almost insane amounts of leverage, Mr Morehead said. Bitcoin is such high-octane stuff that putting on any leverage is unnecessary.
Before its collapse, Cryptolab told investors it was developing new trading strategies to profit in periods of high volatility and was aiming to become more all-weather, according to a letter seen by the Financial Times. The firm did not respond to a request for comment.
London-based Cambrial Capital also shut its crypto-focused fund of funds after the March sell-off, although it said this was because of the outlook for fundraising, and planned to focus instead on advisory work.
The treacherous market has not put off some of the hedge fund industrys biggest players. Paul Tudor Jones, founder of Tudor Investment Corporation, recently said his funds would be able to trade bitcoin futures, while Renaissance Technologies flagship Medallion fund has also been eyeing crypto.
Bulls looking for a recovery believe their argument has been strengthened by central banks efforts to combat the economic damage from coronavirus with big cuts in interest rates and extensive bond-buying programmes.
Cryptocurrencies, particularly bitcoin, are an attractive portfolio hedge against currency debasement and inflation, billionaire investor Mike Novogratz, founder of Galaxy Digital, told the FT.
A much-heralded halving of the rate at which new bitcoins are produced has also driven interest, including some wild predictions about the price, said Manuel E De Luque Muntaner, head of investment firm Block Asset Management.
However, risks remain, not least the lack of a central authority to offer support in times of crisis.
Theres no government or central bank to come in and save the...market, said Tyrs Mr Hindi. In crypto, we have to lick our own wounds.
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Crypto hedge funds struggle to recover from bloodbath - Financial Times
Bitcoins prices slip amid speculation that a block of the cryptocurrency possibly linked to creator Satoshi Nakamoto just changed hands – MarketWatch
Bitcoin prices retreated Wednesday afternoon amid speculation that a long-dormant block of coins, with links to the presumptive creator of the virtual asset, just changed hands.
A Twitter account set to issue tweet alerts when coins tied to certain addresses trade, indicated a trade of a batch of virtual currency that is possibly tied to Satoshi Nakamoto, the person or persons who wrote the software code for the digital currency back in 2009. The identity of Nakamoto has long been speculated on but the originator of bitcoin has never been verified.
Read:Elon Musk says hes not bitcoins mystery man Satoshi Nakamoto
Check out: Legendary sci-fi author says suggestion he invented bitcoin flattering but untrue
About 11 years ago, he created, or mined, the original batch of bitcoins that are widely known as the genesis block.
The tweet suggests that the batch of some 40 or 50 bitcoins that changed hands on Wednesday were mined within the first month of the creation of bitcoin.
See:Craig Wright Claims He Is Bitcoin Inventor Satoshi Nakamoto
To be sure, the anonymous nature of the bitcoin makes it impossible to know the owner of the coins but the technology that underpins bitcoin makes tracking addresses of the certain blocks of coins possible.
Sleuthing for coins tied to the progenitor of the digital asset has become a regular pastime in the crypto community. Tracking big blocks of bitcoin also helps to understand the habits of those who hold substantial influence on bitcoin prices by dint of their holdings.
Bitcoin futures, representing a single bitcoin, were off 1.3% in Wednesday afternoon, with the most-actively traded May BTCK20, -0.51% BTC.1, -0.51% at $9,550, while bitcoin spot prices BTCUSD, -0.25% were off 1.8% at $9,525, according to data from CoinDesk.
Bitcoin futures are up more than 32% so far in 2020, and they had been trading at an intrasession peak at $9,895 on Wednesday before settling lower.
A number of industry participants have pointed out that the fact that the bitcoins are 2009 vintage doesnt necessarily mean that they are related to Nakamoto.
However, that didnt stop interest in bitcoin surging on Twitter, with the term satoshi becoming a viral term on the social-media platform Twitter Wednesday afternoon.
Bitcoin was created as an alternative payment system 11 years ago, one that operated anonymously and peer-to-peer, eliminating the so-called trusted third party.
The cryptocurrency was born amid worries that modern currency is manufactured by central banks printing fiat money to boost economic growtha view that has gained increasing traction amid the COVID-19 pandemic.
Proponents of bitcoin argue that because the digital asset is decentralized from central banks or governments, individuals can conduct transactions without an intermediary. That is part of the appeal of bitcoin.
However, the nascent asset hasnt made significant headway in price since hitting a December 2017 peak near $20,000.
Critics also point to the cryptocurrencys association with money laundering as one of its biggest drawbacks. So far, bitcoin hasnt achieved sufficient scalability to make it a legitimate currency much less a store of value, other opponents say.
That said, bitcoin has managed to hold its own compared with gold thus far this year, with gold futures GC00, +0.31% up 15% in the year to date. By comparison, the S&P 500 index SPX, +1.66% is down 8.1% so far this year and the Dow Jones Industrial Average DJIA, +1.52% are off nearly 14% after a coronavirus-induced downturn virtually brought the equity markets to their knees in March.
Read:What is the bitcoin halving and which day does it happen?
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Bitcoins prices slip amid speculation that a block of the cryptocurrency possibly linked to creator Satoshi Nakamoto just changed hands - MarketWatch
Is 2020 the year to invest in cryptocurrency? – About Manchester
Over a decade since Bitcoin was first launched, there are now myriad cryptocurrencies on the market, such as NEO, Litecoin and Ethereum, but Bitcoin still remains the most well-known. Cryptocurrency is a form of digital currency, which requires no central banking system. It sits on a platform called blockchain, and Bitcoins are mined in exchange for Bitcoin rewards. Anyone can mine Bitcoin, and because the transactions have to be verified by several individuals, there is no need for a central bank to control it, it is decentralised. But you dont have to mine Bitcoin in order to own it, many people are now simply investing in cryptocurrencies through trading platforms.
But is cryptocurrency a good investment? And if so, will 2020 be a good year to invest? Its certainly been an interesting year so far, and a rocky ride in terms of many investments, with prices fluctuating, largely due to the Covid-19 pandemic. The value of Bitcoin has risen as high as $9,000 and seen a low of $4,000, before gaining ground to $6,600, marking the greatest fluctuations since 2017.
The most recent rise in Bitcoins value, as well as other cryptocurrencies, may have been triggered by US Federal Reserve quantitative easing, an attempt to reduce the damage Coronavirus could cause to the economy. This has led some to move investments into Bitcoin, and other cryptocurrencies, to hedge against the potential devaluing of currency caused by quantitative easing. As there is a finite number of Bitcoin on the market, some believe it should not be susceptible to such devaluing, as the amount of new Bitcoin being mined is always reducing. The increase in demand, and the reduction in supply, should drive up the value, in keeping with the principles of supply and demand, according to experts such as Simon Peters, a crypto analyst at eToro.
Cryptocurrencies first became popular after the economic crisis of 2008, when the value of other traditional shares and investments took a major hit. Similarly, since news of the Coronavirus outbreak first hit, transaction volumes on trading platforms seemed to have increased.
Cryptocurrency trading platforms Binance and MyEtherWallet have also seen increased investment and significant growth. It certainly appears that quantitative easing has been the catalyst for investors to seek alternative options.
But theres another reason to consider cryptocurrency investment in 2020 the Bitcoin halving this May, meaning the number of Bitcoin available will halve. This means less supply, and with the pandemic pushing up demand, some are anticipating a bull run.
If past performance is any indication, a halving is likely to push Bitcoin values up. The first halving in 2012 saw a whopping 8,000% increase in the value of Bitcoin over the following year, and the second one in 2016 saw Bitcoins value rise by 2,000% in the subsequent 18 months.
With no clear end in sight for the current lockdown situation, many businesses are losing value, if they survive at all, so traditional stocks and shares are taking a battering. Could cryptocurrencies be considered a safe haven in 2020? It is a fluctuating market, but steely investors may be prepared to take a punt.
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Is 2020 the year to invest in cryptocurrency? - About Manchester
Ripple, third most valuable cryptocurrency, gets approval from the US for money transfers – Nairametrics
Ripple (XRP),the third most widely used crypto-asset behind bitcoin and Ethereum,has gotten the attention of theworldsbiggest economyfor moneyremittance.
Ripple(XRP)iscurrently tradingat $0.2025 with a market capitalization of about$8.9 billionand a daily trading volume of $1.96 billion,according to data obtained fromCoinmarketcap.
Americas Consumer FinancialProtection Bureau has given Ripple approval for its use in cross-border money transfers.
According to a report recently published by Americas Consumer Financial, Protection Bureau has been researching new developments in the remittance market, including trends related to digital currencies.
U.S Consumer Financial Protection Bureau, which plays a major role in protecting Americas consumers in the financial sector, wrote on the continued growth and expanding partnerships of companies such as Ripple.
The report also noted the use of Ripple for settlement ofcross-border money transfers:
The Bureau has continued to monitorthe continued growth and expanding partnerships of virtual currency companies, such as Ripple, which offer both a payment messaging platform to support cross-border money transfers as well as a virtual currency, XRP, which can be used to effect a settlement of those transfers.
[Read Also: Ethereum, second most valuable cryptocurrency, surges over 88% since March]
Ripple (XRP)plays both roles as a payment platform and a currency.
The Ripple platform is an open-source platform that is created to allow quick and cheap transactions.
Unlike its crypto rival, Bitcoin, which was never intended to be a simple payment system, Ripple has gained the attention of major global banks, like Standard Chartered, and Barclays for international transactions worldwide.
Interestingly, the U.S Consumer Financial Protection Bureauseemsto love Ripple for bringing simplicity and opennesstothe financial industry:
To the degree banks and credit unions increase their reliance on closed network payment systems for sending remittance transfers and other cross-border money transfers, the Bureau notes that this could result in greater standardization and ease by which sending institutions can know exact covered third-party fees and exchange rates.
The Bureau also believes that expanded adoption of SWIFTs GPI product or Ripples suite of products could similarly allow banks and credit unions to know the exact final amount that recipients of remittance transfers will receive before they are sent.
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Ripple, third most valuable cryptocurrency, gets approval from the US for money transfers - Nairametrics
PODCAST | Why is Africa the most promising region for cryptocurrency? – Business Day
At the time of publishing, one bitcoin cost R175,623.
The Luno head highlights that theres been greater interest from institutional investors looking to hedge their risks against other asset classes that may not be doing well due to the crisis. This growing interest from established or traditional market players is important for increasing the credibility of Bitcoin and other crytocurrencies, Reitz says.
The discussion ends with Reitz talking about a a new documentary called Banking on Africa: The Bitcoin Revolution, backed by Luno. The documentary follows the journey of some of Africas Bitcoin pioneers as they seek to leverage cryptocurrency to leapfrog world economic powers. It will be available for streaming on Amazon Prime from May 22, as well as other local platforms, says Reitz.
Reitz also takes time to explain the recent Bitcoin halving event, its importance and significance, and gives details aboutof Lunos current trading volumes.
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PODCAST | Why is Africa the most promising region for cryptocurrency? - Business Day
Learn how to invest in the stock market and cryptocurrency – New York Post
If you dont have a formal education in economics or business, then the stock market and cryptocurrency might be, well, cryptic, to you.
Still, just because you arent familiar with these concepts now, doesnt mean they arent worth learning. In fact, understanding how to invest wisely can help you make a profit, increase your business analytics skills, and help you join in on dinner party conversations.
If you want to start investing or need help navigating the current volatile state of the US market, then look no further thanthe Complete Stock & Cryptocurrency Investment Toolkit Bundle.
This training bundle features 11 courses aimed at helping you invest wisely. With more than 54 hours of training included in the bundle, you will learn everything from beginner tips and tricks all the way to trading like a pro. You will learn the most important investing strategies, how to trade penny stocks, the ins and outs of cryptocurrency, technical analysis using Elliot Wave Theory, and even build knowledge around investing in real estate.
Here is a breakdown of all the courses included in the bundle:
The Complete Financial Analyst Training and Investing Course ($200value): Score an extensive finance education straight from a former Goldman Sachs employee.
Complete Stock Market Starter Toolkit for Beginners ($50 value):Learn the basics before you start investing in the Stock Market.
Cryptocurrency Wealth: How to Trade and Invest Like the Pros ($190 value):Get hands-on experience with cryptocurrency from a skilled trader and investor.
Stock Market Investing Strategies ($99 value):Discover helpful strategies to maximize your return on investment.
Learn How To Trade Penny Stocks: 10 Easy Steps ($200 value):Learn how to make money from penny stocks.
Cryptocurrency Mastery: How to Buy Bitcoin, Ethereum, and More ($197 value): Start buying, storing, and exchanging cryptocurrencies.
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Learn how to invest in the stock market and cryptocurrency - New York Post
Cryptocurrency Market 2020 Size & Share Outlook with COVID-19 Impact Analysis and Forecast to 2026 – Cole of Duty
Facts & Factors Market Researchadded a recent report onCryptocurrency Market By Type (Bitcoin, Ethereum, Ripple, Litecoin, Dashcoin, Others), By Component (Hardware, Software), By Process (Transaction, Mining), and By End-Users Analysis (Banking, Real Estate, Stock Market & Virtual Currency, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 20202026to its research database. The Cryptocurrency Market research report is an output of a brief assessment and an extensive analysis of practical data collected from the global industry.
This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the Cryptocurrency industry. The report analyzes and declares the historical and current trends analysis of the Cryptocurrency industry and subsequently recommends the projected trends anticipated to be observed in the Cryptocurrency market during the upcoming years.
TheCryptocurrency marketreport analyzes and notifies the industry statistics at the global as well as regional and country levels to acquire a thorough perspective of the entire Cryptocurrencyt market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value from FY 2016 2026.
The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the Cryptocurrency industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.
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COVID-19 Impact Analysis, A research report overview, TOC, list of tables and figures, an overview of major market players, and key regions included.
Some of Top Market Players Analysis Included in this Report:
The Market Player Analysis based on some of below Factors:
This research report provides forecasts in terms of CAGR, and Y-O-Y growth. This helps to understand the overall market and to recognize the growth opportunities in the global Cryptocurrency Market. The report also includes a detailed profile and information of all the major market players currently active in the global Cryptocurrency Market. The companies covered in the report can be evaluated based on their latest developments, financial and business overview, product portfolio, key trends in the market, long-term and short-term business strategies by the companies to stay competitive in the market.
The global Cryptocurrency Market size & trends are classified based on the types of products, application segments, and end-user. Each segment expansion is assessed together with the estimation of their growth in the upcoming period. The related data and statistics collected from the regulatory organizations are portrayed in the Cryptocurrency Market report to assess the growth of each segment.
The global Cryptocurrency Market size & trends are classified based on the types of products, application segments, and end-user. Each segment expansion is assessed together with the estimation of their growth in the upcoming period. The related data and statistics collected from the regulatory organizations are portrayed in the Cryptocurrency Market report to assess the growth of each segment.
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Cryptocurrency Market 2020 Size & Share Outlook with COVID-19 Impact Analysis and Forecast to 2026 - Cole of Duty