The bear market carries a lot of implications for investor depending the assets they’re invested in, and for untested market such as the decentralized finance (DeFi) market, the implications can be even worse. The space is already fraught with a lot of issues around insecurity. But with the bear market coming, one would think the reduced participation would deter attackers. However, it may be an even more dangerous time compared to bull markets.
Right now, thousands of citizens from Hong Kong are protesting certain leaders and opposing a proposed extradition law. Alongside the protests, the country’s political issues are reportedly pushing wealthy Hong Kong residents to move their capital offshore. Since last week, the price of bitcoin core (BTC) has gained a premium in Hong Kong as the digital asset has been trading between $ 75-150 higher than the global average.
By CCN Markets: Global financial crises are on the rise, thrusting bitcoin into the spotlight. Legendary investor Warren Buffett called bitcoin “rat poison squared,” but it turned out to be nectar, nevertheless. The world’s largest cryptocurrency’s valuation jumped approximately 47 percent between May 5 and May 31 to close the month nearly $ 8,500. The same period witnessed the U.S. market’s benchmark indicator, the S&P 500, drop by approximately 6 percent. Analysts called the bitcoin price surge a net effect of the U.S.-China trade war and Chinese yuan devaluation. They now believe that the cryptocurrency became either a hedge or a
Beaxy, an upcoming all-in-one crypto exchange platform, revealed yesterday that it is planning to launch at Consensus 2019 during New York Blockchain Week, with a launch party on May 13. BEAXY LAUNCH ANNOUNCEMENT: We're excited to announce that we're aligning our launch date with #blockchainweek at #Consensus NY! It made sense to launch our exchange […]
Venezuelans are having a difficult time as the country’s power grid shut off on March 7, leaving the majority of Venezuelan states with no electricity for well over a week. According to reports on March 14, electricity has been restored throughout most states within the country. However, during the week-long blackout, bitcoin trades on the peer-to-peer exchange Localbitcoins plummeted by 40 percent.
Leading Ethereum (ETH) blockchain game CryptoKitties recently concluded its cross-over event with Gods Unchained, a collectible trading card game backed by Coinbase, to highlight the potential of non-fungible token game assets. As a result of the cross-over event, which brought three Gods Unchained-themed cats, CryptoKitties saw a 17.5% increase in active users the day the campaign began, and […]
Over the last two months, the hashrate between the Bitcoin Cash (BCH) and Bitcoin Core (BTC) networks has increased significantly since hitting a low on December 15, 2018. Numerous reports detail that many Chinese miners who control a large portion of SHA-256 hashrate have been recently setting up shop in Sichuan. During the wet season here, miners can get an astounding 0.08 yuan per kWh or $ 0.01 per kWh.
Bitcoin investors are abandoning crypto in favor of traditional commodities like gold amid the prolonged market slump. That’s the observation of Jan Van Eck, the CEO of investment management firm VanEck Associates. Van Eck says this is a reversal of the trend he saw in 2017, when the then-sizzling bitcoin pulled demand from gold during the crypto bull market. “I do think that bitcoin pulled a little bit of demand away from gold in 2017,” Van Eck told CNBC (video below). “Interestingly, we just polled 4,000 bitcoin investors. And their No. 1 investment for 2019 is actually gold. So gold
A report recently published by Diar has estimated that nearly $ 15.42 billion of value was added to the market capitalization of the combined cryptocurrency markets in the form of newly created tokens and crypto asset inflation during 2018.
12 Percent of Current Crypto Market Cap Was Created During 2018
According to Diar’s report, new crypto asset value created during 2018 is estimated to comprise more than 12 percent of the current combined cryptocurrency market cap.
Epic Games received significant backlash in December after pushing a game-altering update just hours before the $ 100,000 WSOE Fortnite Duos tournament. In the update, Epic Games introduced a new item called the Boom Box, which delivers powerful blasts of music that deal structure damage in a large area. As first highlighted by esports consultant and industry leader Rod Breslau, the […]
Since January 14, subsequent to a minor correction, the crypto market has added $ 6 billion to its valuation as the Bitcoin price maintained stability. While many cryptocurrencies, especially low market cap tokens fell substantially earlier this week, Bitcoin remained in a tight range between $ 3,400 to $ 3,600. How Bitcoin is Able to Retain Dominance The
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The 2019 Australian Open is set to feature more than just tennis after the event organizers announced the Fortnite Summer Smash, which is set to be the largest event in Australian competitive gaming with $ 500,000 in total prizes. Attention gamers: Fortnite Summer Smash at the Australian Open will take place on 26-27 January during finals weekend. Tickets […]
Much like the rest of the crypto market, ether has found itself devalued by more than 90% since its all-time high of $ 1,400 back in December of 2017. And now, almost a year later, ether sits just above $ 100 on what appears to be shaky ground during its latest round of selling over the last few weeks:
Figure 1: ETH-USD, Daily Candles, Rapid Descent
Lou Kerner, a partner at crypto-focused venture capital firm CryptoOracle, believes a long-term investment horizon for Bitcoin will yield the best results, comparing the latest price action to that of Amazon (AMZN) during the dot-com bubble in the early 2000s. During a recent interview on CNBC, Kerner drew a comparison between Amazon’s drop from $ 300 to […]
Augur is a project built on the Ethereum blockchain, facilitated by its native token, REP. By definition, Augur is a decentralised oracle and prediction market protocol, that is owned and run by the people who use it and of course, REP investors.
Users of the Augur network can make predictions that in turn, have a monetary value, like a bet. This means that users can predict on political movements, cryptocurrency movements and even natural disasters. Augur is an open world full of markets which users can place bets on.
What is Augur
A report released by the popular CoinGecko blog was the latest report which detailed what it found on Ethereum during the third quarter of this year.
What did they find?
Some of the details that were included showed some negative statistics for the second biggest cryptocurrency, Ethereum. Litecoin, XRP, Bitcoin Cash and Bitcoin have shown a positive year on year returns however, Ethereum didn’t seem to deliver as it has fallen by around 22 percent since the second quarter of the year which has left many investors rung out.
The best time to enter a market is when it’s oversold, which is exactly what is happened with the crypto industry as it retains a yearly bearish pattern.
With a recent drop, followed by some significant gains from a certain bottom area has upped medium-term bullish sentiments in the crypto market. The biggest cryptocurrency in the market, Bitcoin has reversed its downtrend on several occasions after testing a $ 250 wide area below $ 6,000 as strong support. The price action has led those with bullish attitudes to conclude that it would be impractical for the bears to crash Bitcoin below the $ 6,000 mark citing miners breakeven ROI.
A recent survey by Fundstrat Global Advisors has revealed bullish sentiments among institutional investors in regards to the prospects of cryptocurrency performance during an economic recession.
Investors Say a Recession Will Boost Cryptocurrency Prices
According to the results from the survey, as reported by MarketWatch, more than 70 percent of institutional investors believe that prices of cryptocurrencies will increase during a recession.
This result tallies with a similar survey, this time among Twitter users. In the Twitter poll, 59 percent of the responders believe that virtual currency prices will surge during an economic crisis.
Albeit this week has been filled with very positive news regarding Ripple and XRP, the market has taken a contrarian stance on this asset. Due to a 7% dip in the past 24 hours, it has become apparent this week may not be overly positive for XRP after all. Combined with the overall negative market sentiment, things are looking rather bleak for this prominent asset.
XRP Price Faces a big Setback
After the solid gains noted two weeks ago and throughout part of last week, things have turned around significantly for the XRP price. These past 24 hours result in a net 7.6% loss in USD value, and a 5.5% loss against Bitcoin. This is not the momentum people had hoped for given this week’s Swell conference .
The latest crypto market rally has seen multiple digital asset categories surge in price, but none as much as the tokens associated with popular cryptocurrency exchanges and protocols. While the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens, is currently up 12.1% on the week, the AltDex Exchange Token Index (ALTEXC), a benchmark index for the […]