The multinational investment bank and financial services company, Morgan Stanley has published their latest report which was released on 31st October. The report contains an overview of the evolution of Bitcoin and how its investment purpose has changed throughout the years but the report has a bullish sentiment to it in comparison the outlook for 2017. Also in the report is a few drawbacks of the crypto including a lack of regulations and energy.
This week may have been a slow week for the markets, however as always, the crypto news has been rife. We want to go back over a number of this week’s headlines with you for two reasons. Firstly, we want to offer you a chance to re-cap, with so much news constantly flowing, we’ll admit it’s very hard to keep up.
Secondly though, yesterday’s news can help us to decide what might happen next – by reviewing the news of this week, we can all become better investors and can all learn to make more accurate predictions, helping us to manage our portfolios more efficiently.
Nearly all cryptocurrencies remain in the red for the time being. That is an unfortunate development, although the momentum will turn around eventually. One currency struggling quite a bit is TRON, as the altcoin is not finding any stable ground lately. The most recent push to surpass $ 0.023 was pushed down in violent fashion, and a new attempt might not materialize soon.
The world of digital currencies and the world of gambling seem to be joining up. The benefits offered by currencies such as the market leader, Bitcoin isn’t an oversight. Winning Poker Network is one of the companies that is benefitting from supporting from the world of crypto over the past few years.
There are several online betting websites that accept cryptocurrency such as Bitcoin, this is usually done through an effort to complement existing options. Providing consumers with more options to gamble seems to have paid off. Winning Poker Payments doesn’t seem to be regretting its decision to accept digital currency payments.
The founder and CEO of TRON, Justin Sun has spoken out regarding the TRX token and had positive words to say over its development from his currency, TRX. Specifically, Sun has praised the developers behind TRON as well as the TRON Foundation and open-source development community for being some of the most vital driving assets for the digital currency.
Talking in a recent interview with Investopedia which was published last Friday 5th October, Sun went onto the discuss this in depth, giving his reasons for the advantages that TRON’s development community has over their rival currency Ethereum.
Bitcoin has found stability in the low range of $ 6,300 to $ 6,400, demonstrating decent volume at around $ 3.8 billion and pushing its dominance index to 56.1 percent. Well performing tokens including WanChain, VeChain, Decentraland, and Waltonchain have recorded large losses against the US dollar in the range of 5 to 10 percent, mostly likely due
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With over 200 government attendees and 5,000 registered, India hosted the country’s largest blockchain conference at the beginning of August. According to the CEO of the company co-hosting the event, this is a major signal that governments are embracing further blockchain adoption.
Only a ‘Few Triggers’
Bitcoin (BTC) 00 continues to trade in the green, marking a substantial increase upwards of 15 percent in the last two weeks.
The adoption of cryptocurrencies and their underlying technology is only growing wider. This is according to Abhishek Pitti, CEO of Nucleus Vision – the co-host of the International Blockchain Congress held in Hyderabad and Goa at the beginning of August.
Whereas the Cardano (ADA) protocol is similar to Ethereum’s PoS mechanism, the Cardano protocol is faster and has improved efficiency. The protocol introduces more features at an advanced level without blemishing the original idea of crypto that is decentralisation.
Cardano balances security, speed and decentralisation whilst attempting to improve proportionally forward with each release or published paper. This is the idea from the mind behind it all, the founder Charles Hoskinson, who said this:
“What we’ve done with Cardano is start with asking ourselves what a blockchain is.
At press time, the coin that has often been called the “Chinese Ethereum” is up to about $ 22. This is about two dollars more than when we last covered NEO, which suggests that the currency is experiencing bullish momentum along with bitcoin.
As the 15th-largest coin in the crypto space, one source claims that the currency was trading for over $ 23 during the weekend, which would mean it’s lost some of its value. Presently, it has a market value of nearly $ 1.5 billion, while its daily trading volume averages at $ 80 million. Unfortunately, like Ethereum before it, NEO appears to be the subject of a massive sell-off, and growing trading volumes during a bear run is never a good sign.
Mondays are usually an interesting indicator for cryptocurrency prices throughout the rest of the week. The TRON price is still struggling to recover some losses, albeit the recent positive news should help in this process once speculators begin to take notice. When that will happen exactly, remains to be determined.
TRON Price Begins Looking Up
The overall TRON price momentum may not look too impressive to most people. It has regained some of yesterday’s losses, although overcoming the entire deficit has proven to be a struggle. Not abnormal, as there is still a 3.09% decrease in USD value over the past 24 hours. Overcoming this big deficit will take a few more hours, at the least.
It is evident there is still a lot of positive momentum affecting all cryptocurrency market. While that momentum can very well evaporate at any given moment, it seems things continue to improve for some altcoins. The EOS price, for example, noted higher gains in the past day compared to the 48 hours prior. An interesting turn of events.
EOS Price Surge is Gaining Power
As long as the Bitcoin price remains in the green, there is still a lot of momentum altcoins can benefit from in the process. For the time being, Bitcoin notes the smaller gains in terms of percentages, but given its higher value, it still makes for an impressive price trend altogether. This momentum is currently spilling over to the altcoins, with the EOS price getting a healthy boost.
All cryptocurrency markets are still in a relatively awkward place at this time. The Bitcoin price is not showing any real signs of life, although it remains above $ 7,000, for the time being. Some altcoins note some growth, with the Ethereum Classic price still going strong.
Ethereum Classic Price Momentum Remains Strong
Ever since the Coinbase rumors began to spread, there has been a lot of excitement regarding the future of Ethereum Classic. Although the exchange is in the final stage of testing compatibility, no official date for ETC trading has been announced. In anticipation of this development, the Ethereum Classic price is still on the rise, as its momentum remains rather strong.
Even though the current cryptocurrency momentum looks anything but promising, there are always some exceptions to take to look into. The XRP price is gaining a lot of value in fairly quick succession right now, whereas Bitcoin is losing a lot of ground in quick succession. Another remarkable turnaround is on the horizon, by the look of things.
XRP Price Notes Strong Gains
Whenever the Bitcoin price loses a lot of value in very quick succession, the altcoins and digital assets on the market will undoubtedly suffer from negative momentum as well. This has been very apparent over the past few days, as all cryptocurrency markets have lost a fair bit of value for an unknown reason. There is one exception to this development, as the XRP price is doing the exact opposite.
The overall excitement continues to affect all major cryptocurrency markets. That in itself is a very positive development, as it shows there is still a lot of positive momentum waiting to happen. The Stellar price, for example, is still surging and has successfully passed the $ 0.31 mark over the past few hours.
Stellar Price Remains Very Bullish
Even though Bitcoin is getting all of the attention during this recent bull run, it is evident a few other currencies also continue to make a name for themselves. The Stellar price has shown it has some bullish momentum fueling its current run as well. There has been a steady value increase every single day, and it seems today will be no different in this regard.
The Liverpool City Council is looking to become the world’s first climate positive city by the end of 2020 after agreeing to a partnership with an eco-digital company to integrate its blockchain-powered platform into daily operations.
The city of Liverpool has been working steadily to become more environmentally conscious. From 2012-2016, the city saw a 550 percent increase in renewable energy installations and produced 558,000 fewer tonnes of CO2. Additionally, Liverpool stated in February that it would be replacing more than 15,000 street lights with LED bulbs to save energy.
The U.S. Securities and Exchange Commission (SEC) has received an influx of comments on behalf of cryptocurrency enthusiasts on the matter of the approval of a Bitcoin ETF.
On June 26th, Cboe Global Markets filed an application with the SEC seeking an approval of a Bitcoin Exchange Traded Fund (ETF). The agency published the application and invited the public to comment on the matter.
Massive Interest for a Bitcoin ETF
The SEC invited the public to comment on the matter of a Bitcoin ETF approximately three weeks ago. Since then, more than 90 people have submitted their comments.
Was was to be expected after a rather positive weekend for all cryptocurrency markets, the new week is off to a bit of a rough start. Most of the top currencies have lost a small bit of value, even though there is no reason to panic just yet. The Stellar price, for example, has gone up in value over the past 24 hours, which shows the positive momentum is not over yet.
The ongoing “luck of the draw” for all cryptocurrency markets seems to hold up quite well. Although a few currencies have suffered from minor losses, the Bitcoin price is still in the green. One of the currencies most people tend to overlook right now is LTC, despite the Litecoin price benefiting from a small increase as well.
Litecoin Price Flies Under the Radar
It is rather interesting how people perceive the many different cryptocurrencies on the market today. Whereas most people pay attention to either Bitcoin or Ethereum, there are a handful of other currencies people need to take note of as well. Especially those currencies which have been around for quite some time now. Litecoin certainly falls into that category.
For the time being, all cryptocurrencies remain in the green. That in itself is as big of a surprise as anything else the cryptocurrency industry has seen this year. Various coins are effectively surging. The Cardano price, for example, has gained a solid 8.81% over the past 24 hours. Very positive momentum for this altcoin.
Cardano Price is Flying High
Over the past few months, there has been no real positive market momentum for any cryptocurrency. Other than a small uptrend in April of 2018, nothing spectacular has happened in this industry. Even that uptrend didn’t last very long, as the market turned uber-bearish shortly after. As such, it is all the more surprising to see the Cardano price soar at this time.
Most of the cryptocurrencies are already going in the red once again after strong gains on Saturday. While losses remain minimal for most coins, it is evident there is still room for improvements. Some coins even successfully buck this negative trend, as the IOTA price remains in the green, for now.
IOTA Price Trend Remains Positive
It was only to be expected a lot of currencies would face small setbacks after the positive trend yesterday. Massive gains of anywhere from 5% to 15% cannot go unpunished in the world of cryptocurrency, after all. Even so, several currencies still remain ahead of the curve in this regard, as it is evident there is still some positive momentum to contend with.