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Strong reversal of Bitcoin price trend. Ethereum is losing even more ground after the slump in the last months. It looks like the Ethereum upgrade which was expected in 2020 could be postponed for years.
Bitcoin price has gone to $ 6,600, and it could further decrease, creating tremendous buy opportunities for long term holding investors. Ethereum tumbles, XRP is down below $ 0.20. BTC seems the only safe way to go for the future.
A recent report by CipherTrace, a Blockchain intelligence firm, shows that the top 10 US banks are processing crypto-related transactions without recognizing it. They are leveraged by crypto-exchanges and other business entities that do not report the nature of their money transfers. And the banks have no real way to spot it.
Bitcoin is more portable, impossible to falsify, and its price is markedly increasing on a long term trend. Gold is bulky to carry around, it can be faked, and the price is fairly stable. Therefore they are both effective ways to store value, but Bitcoin is easier to use and gives many more chances of appreciation. New York wants to stop being one of the worst places for crypto-investors. City and state regulations will add new regulations that will make it easier to mint new crypto-coins.
Former crypto-skeptic Mark Yusko, chief executive, and chief investment officer at Morgan Creek Capital, predicts that between now and 2012, Bitcoin’s price will go to $ 100,000. Fund manager Grayscale has run research indicating that 43% of investors interested in Bitcoin are women.
Vitalik Buterin, Charlie Lee And Several Other Crypto Celebrities Are Probably Responsible For The Crash In 2018 And 2019.CryptoEnsemble Crypto Reports
The sudden and massive sale of crypto gained at the top of the blockchain by their founders at the top of their market evaluation cut down the credibility of the projects. Buterin admitted that the Ethereum Foundation sold $100 million worth of ETH at the top. Many of the original developers also left their projects once they had cashed out. Then we had the ICO craze with many fake projects and outright scams. No wonder people have become suspicious of cryptocurrencies, and today the market has lost two-thirds of the value it had accumulated in 2017-2018, at the top of the bubble.
A report by Charles Schwab, a major traditional investment platform, shows that millenials love Bitcoin and crypto. Grayscale Investment Bitcoin Trust, that specializes on crypto investments, beats out major tech conglomerates such as Microsoft and Netflix, or traditional companies like Berkshire Hathaway, and the Disney Corporation.
Chinese miners have acquired substantial control of Bitcoin mining activity. The Sichuan province accounts for over 50% of the global hashing power. Overall, China now provides 66% of the total hash rate capability of the BTC network. They benefit from very low energy prices and proximity to Bitman, which is the major manufacturer of mining equipment.
Tezos has been one of the most active coins in the last weeks. It gained 100% in value and is now accepted by one of the most diffused hard wallets: Ledger. Tezos allows the creation of smart contracts and decentralized applications. It has the chance to become a serious competitor for Ethereum, but it has also been a controversial project.
Bloomberg lists the top 10 crypto assets for 2019. Bitcoin comes second, preceded by Binance Coin, which increased its value by 154%. During hard fork, Ethereum transactions plunged. Some reduction is justified by the upgrade. But some transactions are now more expensive, which could lead to part of the reduction.
Ethereum’s latest hard fork has produced no gain in value. Ether remains relatively static. A recent analysis from stock brokerage Charles Schwab shows that Millennials would rather buy Bitcoin than put their money in any major corporation.
Nest year, the Ethereum foundation plans to defund all internal projects. There is still no indication about which project will be killed first. It is a bad scenario for the evolution of Ethereum, considering the future shift to Ethereum 2.0, particularly with different protocols and validation systems.
Bitcoin is a whole suite of protocols that keep evolving and which protect its monetary characteristics. Its evolution parallels the development of Internet protocols and the transformation that they brought about in so many fields of society. Bitcoin will be here for a long time and will help people dealing with crazy monetary policies, using structures that have already been tested for over a decade.
11,580,000 Bitcoin has not moved for over a year. The current worth is about $ 84 Billion, and it represents about 64% of all Bitcoin mined so far. Bitcoin can be a quick peer-to-peer payment system. It is legal for anyone to download and set up a wallet on a phone or tablet or laptop.
Bakkt was created as a Wall Street creature that targets the world of Bitcoin. By offering Bitcoin-backed futures. they are attracting institutional investors money into the crypto universe. Yet a more careful examination of Bakkt’s operation shows that over 1/3 of its futures is actually backed by fiat money or treasury bonds. It casts a dark shadow on the whole business model.