Free Crypto Signals Mobile App -
https://play.google.com/store/apps/details?id=com.freecryptosignals.app
Visit - https://t.me/cryptosignalalert
For more news latest update On Cryptocurrency & Free Bitcoin Binance BOT & good quality Crypto signals on Mobile APP as well as on Telegram channel visit above given Telegram channel
Bitcoin is currently down to $9,200 as bulls are struggling to find any support levels. The digital asset took a massive turn today after breaking below $9,800. BTC seems to be in freefall now but remains bullish on the daily chart. Bears are hoping to break below the daily 12-EMA and possibly test the 26-EMA today.
A close below $9,000 would be significant but will not confirm a daily downtrend until the bears can close below $8,117.
Not all hope is lost as legendary novelist writer, J.K. Rowling, author of Harry Potter, has recently shown interest in Bitcoin.
I don’t understand bitcoin. Please explain it to me. – J.K Rowling
Rowling asked this question over Twitter just a few hours ago. The tweet already has 5k likes and has received a lot of interest from the crypto community.
Rowling did get an interesting response from Vitalik Buterin, creator of Ethereum. In a small series of tweets, Buterin explained Bitcoin in simple terms for Rowling and stated that people find it interesting because there is ‘no central authority that controls the network’.
It’s unclear whether Rowling is planning to actually buy Bitcoin or she is simply interested in understanding how it works. Either way, we know this isn’t necessarily a bullish sign as it could mean there is a lot of FOMO building up.
This generally happens when Bitcoin is moving up quickly ($3,700 to $10,000) and regular people see it as a good investment because it’s thriving so fast. Unfortunately, this means that buyers are not very experienced and they are only investing because they are hoping to get a lot of profit quickly. Eventually, Bitcoin starts falling and most people will start to panic sell as they have no experience in trading.
Free Crypto Signals Mobile App -
https://play.google.com/store/apps/details?id=com.freecryptosignals.app
Visit - https://t.me/cryptosignalalert
For more news latest update On Cryptocurrency & Free Bitcoin Binance BOT & good quality Crypto signals on Mobile APP as well as on Telegram channel visit above given Telegram channel
Buterin reveals the mistake he doesn't want to repeat with the Ethereum 2.0 upgrade.
In brief
Vitalik Buterin said he regrets that Ethereum launched too early.
He said many defects could have been avoided with a 10 month delay.
Critics have complained of delays to the 2.0 upgrade, expected later this year.
Vitalik Buterin has a deep regret about Ethereum. The 26-year-old blockchain co-founder tweeted today that he believes the platform’s launch was premature.
The second biggest blockchain by market cap, Ethereum launched to great fanfare in 2014. Buterin has since been honoured for his groundbreaking contribution to decentralization and the digital revolution.
But he revealed today that, had Ethereum launched just 10 months later, the defects that the development team have spent the subsequent years fixing could have been avoided.
Early design decisions, such as using Hex Trees as an internal data structure instead of the more common binary trees, were the main source of regret for Buterin. Another regret was using RLP—Recursive Length Prefix—which is a way to send information over a node. Ethereum developers dislike the format because it’s can't be optimized, and is therefore inefficient.
Buterin’s tweet was in response to developer Justin Drake, who had said that Ethereum 2.0—the platform’s long awaiting upgrade—could have been ready over a year ago, had developers followed the easy route to launch.
“We made Eth2 hard for ourselves,” said Drake, and listed reasons including: the many design iterations the new blockchain had seen, and the number of clients that needed to be accommodated.
“We could have launched a year or two earlier the easy way. It was painful but it was right. Our investments will pay off for decades :),” he said.
Buterin wholeheartedly agreed with Drake, as did many others.
But questions about setbacks with Eth2 have plagued the Ethereum community of late. In response to a question about the launch last week Buterin seemed to confirm an interviewer’s suggestion of a July date, only to backtrack later and say he didn’t hear the July part of the question.
“Everyone is asking why is Ethereum 2 delayed,” said Ben Edgington, of Teku, an Eth 2.0 client operator. “Delay suggests we missed that date and we’re trying to catch up. A much better question is ‘Why is it taking so long?’ And the reason is it’s complicated and we’re trying to do a really good job of it.”
And when the new platform finally launches—expected to be in the third quarter of the year, you can be sure there won’t be a Hex tree in sight.
Free Crypto Signals Mobile App -
https://play.google.com/store/apps/details?id=com.freecryptosignals.app
Visit - https://t.me/cryptosignalalert
For more news latest update On Cryptocurrency & Free Bitcoin Binance BOT & good quality Crypto signals on Mobile APP as well as on Telegram channel visit above given Telegram channel
A new deal between crypto startup Cryptobuyer and traditional payments firm Megasoft is taking crypto payments in Venezuela to another level.
In brief
Cryptobuyer and Megasoft are brining Bitcoin payment options to more than 20,000 retailers across Venezuela.
Venezuela's largest retail chain, Traki, had already implemented BTC payments across its 40 locations.
While a big step, there is still much to be done before BTC payments reach mainstream adoption.
Some say that Bitcoin use in Venezuela is exaggerated, while others point to a burgeoning crypto community, as savvy citizens look for better stores of value in the face of hyperinflating bolivars.
That may all soon be put to the test.
Late last week, crypto payments processor Cryptobuyer announced a new deal with traditional payments firm Megasoft that is bringing crypto point-of-sale capabilities to more than 20,000 merchants across Venezuela.
The merchants, among some of the biggest stories in the country, will all use Megasoft’s Merchant Server platform, giving them the option accept to Bitcoin, Ethereum, Dash, Litecoin, Binance Coin, Tether, DAI, and Cryptobuyer's native token, XPT, as payment. The new payments system is set to go live in June.
Among the retailers that will benefit from the deal is the supermarket chain Central Madeirense, pharmacy network Farmatodo, and a range of other hardware, auto parts, and department stores—and even the movie theater chain Cines Unidos. These are some of the biggest chains in Venezuela, who will now each be able to accept crypto from their customers—just as soon as the coronavirus lockdowns are lifted, that is.
But soon, the range of options for Venezuelan crypto enthusiasts will become considerably wider. Cryptobuyer previously partnered with Traki, the largest retail chain in the country. But with this move, Venezuelans will have a new range of products that can be bought with Bitcoin and other cryptos, including food and other staples. (Grocery stores and pharmacies are still open in Venezuela during the nationwide quarantine.
What this doesn’t mean, however, is that most Venezuelans will suddenly adopt crypto.
Volatility in the crypto markets is one factor which alienates potential Venezuelan users with generally low incomes. What’s more, previous implementations of crypto point-of-sale systems in Venezuela have not yet yielded a large number of transactions.
For example, Traki’s more than 40 stores distributed throughout the country already accept Bitcoin and other cryptocurrencies. But during the first two years of its initiative, the store only registered a little more than 1,000 crypto payments, of which almost 90% happened after its association with Cryptobuyer, according to Traki’s own figures.
Still, Traki’s rollout of crypto payment options could be viewed as an important first step in this direction. Since then, Cryptobuyer signed a deal with fast-food chain Burger King this past March, and another with leading hotel chain Tamaco.
So while Bitcoin may not be quite ready for mass use in Venezuela, another 20,000 stores giving residents the option is no small measure.
Free Crypto Signals Mobile App -
https://play.google.com/store/apps/details?id=com.freecryptosignals.app
Visit - https://t.me/cryptosignalalert
For more news latest update On Cryptocurrency & Free Bitcoin Binance BOT & good quality Crypto signals on Mobile APP as well as on Telegram channel visit above given Telegram channel
COVID-19 has become a serious challenge for the world economy. The economists predict that the worst is yet to come. However, cryptocurrency exchanges noted some massive spikes in their Bitcoin trading volumes.
The world is currently facing one of the most serious challenges in the last decades: the spread of a deadly virus. The novel coronavirus (COVID19) continues with full force and it has already engulfed a number of countries outside of China.
Italy, Iran, South Korea, Germany, Spain, Belgium, and other European countries are feeling the impact heavily while cases in the United States continue to spiral out of control. This appeared to have given sellers a good enough reason and traditional financial and stock markets tumbled. Wall Street’s major indices marked their quickest 30% drop in history. The Dow Jones Industrial Average (DJI), recorded losses that haven’t been seen since 1987.
The cryptocurrency market wasn’t left out. As people were eager to get their money on cash as quickly as possible, the fairly liquid crypto market felt the pain. In just over a day, it lost almost half of its entire capitalization as Bitcoin plunged down to $3,600. However, cryptocurrency exchanges noted some massive spikes in their Bitcoin trading volumes. Given that there are many Bitcoin leverage exchanges out there, trading got particularly intense.
Bitcoin Trading Volume Spikes to ATH
In the world of trading, volatility is always good for volumes, regardless of the direction of which the prices are going. In this case, unfortunately, cryptocurrencies were declining at an unprecedented rate. Exchanges, nevertheless, saw some hefty increases in their overall Bitcoin trading volume.
Data from CoinMarketCap reveals that the total trading volume on March 13th increased to as much $275 billion across cryptocurrencies and exchanges.
Going forward, Bitcoin’s total trading volume on that day spiked to a record-breaking $75 billion. Just for a quick comparison, back in 2017, when Bitcoin reached its all-time high dollar-value of $20,000, the trading volume across the board was around $15 billion – about five times less than now.
Why Is Bitcoin Trading Volume Surging?
One of the most compelling reasons for the surge in Bitcoin’s trading volume is perhaps the fact that there are, indeed, a lot of margin trading exchanges. People are now able to leverage extremely high positions without putting up the high capital they needed back in 2017. Back then, there weren’t a lot of margin trading exchanges.
For instance, Binance, which is the world’s leading cryptocurrency exchange, launched its futures platform last year and it quickly became one of the market’s leaders. In fact, the Bitcoin trading volume on the futures exchange now regularly exceeds that of the spot exchange, signaling the massive interest in this type of trading product.
It’s Not All Butterflies
Naturally, the increased trading volume brings higher revenues for cryptocurrency exchanges in the form of trading fees.
However, in this particular case, it wasn’t entirely peaches and butterflies for the venues because the price was declining very rapidly.
The VP of Binance Futures, Aaron Gong, spoke on the matter. He outlined that on March 12th when Bitcoin’s price dipped to $3,600, losing 50% in a violent swing, the exchange’s Insurance Fund lost “more than 50% of its value as its USDT reserves fell from 12.8 million to 6.2 million USDT”. In turn, Binance injected an additional 5 million USDT in order to protect its users from the auto-deleverage liquidations.
In any case, the crisis is likely to be ahead of us. With the U.S. Government pumping trillions of dollars in emergency money into the economy, this will possibly cause a lot of strain on the purchasing power of the US Dollar. While the measures are seemingly working, for now, a lot of experts, including renowned economist Peter Schiff, worry that the worst is yet to come and that this financial crisis will be even more fierce than the one back in 2008.
Free Crypto Signals Mobile App -
https://play.google.com/store/apps/details?id=com.freecryptosignals.app
Visit - https://t.me/cryptosignalalert
For more news latest update On Cryptocurrency & Free Bitcoin Binance BOT & good quality Crypto signals on Mobile APP as well as on Telegram channel visit above given Telegram channel
With Bitcoin halving set to take place on May 12 and 22 days left, institutional investors are catching the fever and can’t help taking advantage of the crypto asset’s huge opportunities.
Bitcoin halving has become the internet new order, with its searches scaling by the day. With a lot of anticipation leaning on a possible bull rally, institutional investors are rushing to claim a share of the pie. The block halving event is scheduled to take place on May 12, 2020, whereby the Bitcoin mining reward to miners will be slashed by half from the current 12.5 BTC/ 10 mins.
Bitcoin halving is a major event that signifies the decline in BTC supply from miners to the market. It has happened two other times, 2012 and 2016, after completing 210,000 blocks before the next event. Bitcoin is mined with the knowledge of finite end in its supply, whereby it is meant to reach 21,000,000 coins at the end of the last block, approximately 2140.
The 2020 halving event has several additional factors than previous events in the past. First, the advanced technology in the mining devices has affected the miners’ profit margin, and secondly, the ongoing coronavirus pandemic has made the factors more complex for the crypto asset industry.
Tradeblock’s Analysis of Pre and Post Bitcoin Halving Event
However, the Tradeblock platform has critically analyzed the previous halving events and given their prediction on the oncoming may event. Their analysis has been favored by the increased institutional investors eyeing to take advantage of the pre and post halving volatility.
According to Tradeblock’s analysis, the Bitcoin price rose prior to each event, hence allowing miners to maintain healthy profits. The analysis also noted that the miners’ profits were slashed by half after the event. The Bitcoin hash rate in the previous events did not experience a dramatic uptick, as the miners were bagging home considerable profit margins.
The report went ahead to use the previous years’ analysis to predict the possible scenarios as we approach the halving event and the aftermath. The report estimated that miners are currently breaking even at approximately $7,300 per coin, despite the market price playing around $7,000.
Following the 2020 halving, the report suggests that the mining breakeven will rise to between $12,000 and $15,100 per coin. These figures used the assumption that the hash rate will stay unchanged or rise following a modest growth rate.
Institutional Investors Comes In
With all factors pointing towards price breakout to a possible new all-time high, institutional investors are moving fast to invest in both the crypto asset and also its future contracts.
One of the notable institutional investors is the Renaissance, through its Medallion Fund, whereby it has selected the CME cash-settled Bitcoin futures. Another notable firm is Grayscale Investments, which experienced a record inflow into its Grayscale Bitcoin Trust of more than $338. Million
Free Crypto Signals Mobile App -
https://play.google.com/store/apps/details?id=com.freecryptosignals.app
Visit - https://t.me/cryptosignalalert
For more news latest update On Cryptocurrency & Free Bitcoin Binance BOT & good quality Crypto signals on Mobile APP as well as on Telegram channel visit above given Telegram channel
With Bitcoin halving 2020 in just 26 days, what can we expect? Will the asset meet the overwhelming expectations or will it stay at the same price level?
Bitcoin halving 2020, the third of such event since the inception of the asset 11 years ago, has attracted a lot of attention globally. With the past two events being a major catalyst to the Bitcoin price rallying, the pressure remains on the asset to maintain the standard already set and deliver a new all-time high.
If you have been following the crypto market even for the past few weeks only, you must have come across the term Bitcoin halving, which is extremely popular today in Google searches. It is an event that carries with it much more sense than many out there are just presuming.
The fundamentals have been made more complex by the ongoing coronavirus pandemic which has increased panic fear in the crypto community. The volatility is expected to sharply increase as we approach the event and after the event. Meanwhile, only 26 days are said to be left before Bitcoin halving 2020.
Bitcoin Having 2020 Price Theories
A number of theories have been thrown out there by different people regarding Bitcoin price in relation to the halving event. Although none can claim to have more weight than the other, there is no harm in highlighting them.
The most popular theory with most people is that the price will respect the aftermath of the previous events, where it rallied to a new all-time high a year later. The theory is backed by the fact that the Bitcoin supply drastically falls after the halving event, and the demand is on the rise for the rare commodity.
As a result, the price skyrocketed to cater to the lack of inflation as seen with the fiat system, where money printing is the order of the day to save governments in their projects. Over a decade past its inception, the asset has penetrated almost all corners of the globe.
The other theory was highlighted by coin metrics, from the basis that Bitcoin miners are the primary source of new BTC, and their overall behavior significantly affects the market price.
“Since miner variable costs are slow-moving and fairly constant in fiat terms, miners are required to sell less of their block rewards to cover their expenses during periods of rising crypto prices. On the other hand, when crypto prices are falling, they are required to sell more. Under this theory, miners have a pro-cyclical effect on the market, in that they further exacerbate price increases. There are limitations to this dynamic, however,” tells the theory.
The report suggested that the dynamics which are associated with the theory above can be altered by the ability for more miners to hedge against the future market price. The miners can also use their coin reward as collateral for loans denominated in fiat currency, hence offsetting the theory
