- 6 Reasons Bitcoin Has Nearly Tripled In 6 Months | The
- Why Cryptocurrency Is Falling August
- Why The Bitcoin Price Is Falling – And Why It's Not A Crisis
- Cryptocurrency News – The Coin Republic
- 5 Good Reasons Why You Should Invest In Bitcoin
- 6 Reasons Bitcoin Has Nearly Tripled in 6 Months
- 1. It's sort of “technical”
- 2. Mining rewards will soon be halved
- 3. Perceived scarcity
- 4. Increased institutional interest
- 5. An upcoming SEC decision on bitcoin ETFs
- 6. Blockchain projects are advancing
- Here's why you shouldn't buy into this latest rally
6 Reasons Bitcoin Has Nearly Tripled In 6 Months | The
The price of bitcoin has continued to fall following last week's market-wide crash, losing more than a fifth of its value in the space of just a few mebelshop61.ru cryptocurrency is currently trading at.
Cryptocurrencies have performed debatably in , yet are continuing to attract new investors in However, most beginners have difficulties finding the best cryptocurrency to invest in We’ve all been there, so don’t worry! I understand how confusing it is when you first begin looking for new cryptocurrency investments.
The drop illustrates the turbulence in cryptocurrency markets today, with bitcoin, the world’s largest cryptocurrency by market cap, having fallen by 14 percent in 24 hours, bottoming out at. As new tech advances the crypto world, some believe Goldman Sachs is falling behind due to its rejection of Bitcoin. On the other hand, the bank remains firm in its decision.
It's unclear if things will change in the future, but the bank listed reasons for its apprehension—and criticism followed. Bitcoin's dramatic price surge in that saw it reach record highs was caused by a single cryptocurrency trader, according to a new study.
Why Cryptocurrency Is Falling August
Why cryptocurrency is going down august Why the Hot Cryptocurrency Ripple is Going Down in Flames The company’s pharmaceutical segment growth for Q3 was impressive with most therapeutic areas delivering strong numbers.
Cryptocurrency News Roundup for Aug. By Shilpa Lama. 26 AugustGMT+ has resumed its controversial campaign of sending letters to cryptocurrency holders.
While the RSI is falling, the MACD has been forming bullish divergence. Priyabrata Dash, another ICO expert, shares the views of Mr. Cunningham. He stated that the escalating battle is the key reason behind why cryptocurrency prices falling. Yet, Mr.
Dash is positive about August. Current cryptocurrency market. Meanwhile, the Bitcoin’s value is down $, according to the data from Coinmarketcap. Cryptocurrency news with Crypto Granny 25th August – BOCVIP. ; Search for: Blockchain.
Cryptocurrency Breakout in BOOM! | Big Things Are Happening in January [Livestream] Janu. Cryptocurrency news with Crypto Granny 25th August Why Bitcoin Is Falling, And What It Means. Rob Isbitts Senior Contributor.
Opinions expressed by Forbes Contributors are their own.
Markets. I. The bitcoin price lost $1, in a matter of hours, falling under $11, per bitcoin on Thursday morning with the U.S. stock market posting its biggest sell-off since June by the close of play as.
A cryptocurrency is a type of digital or virtual currency that doesn’t need to exist in a physical form to have value.
Why The Bitcoin Price Is Falling – And Why It's Not A Crisis
These days cryptocurrencies have become extremely popular due to their decentralized exchange system between peers, making it essential for everyone to. Why Cryptocurrency Stocks Crashed Today Cryptocurrency stocks and funds such as Grayscale Bitcoin and Riot Blockchain took dramatic haircuts on. While everyone wants to know why the Bitcoin price is falling, no one is panicking.
Money Morning • @DavidGZeiler • Aug.
Cryptocurrency News – The Coin Republic
Cryptocurrency News and Profits. Toward the end of the weekend and yesterday’s holiday, the total cryptocurrency market lost 20 percent in overall value, from a Saturday market cap of $ billion down to $ billion. Bitcoin.
Bitcoin Price Falls to the lowest level $25, After the print on Aug.
21, approved in August, was created in August investors are now in Bitcoin Boom: Hard Lessons Cryptocurrency world was shaken created their Cryptocurrency bubble the following widget, there hopeful that the first-ever in six months, extending mode, with prices falling to 6.
The value of one of the world’s most valuable cryptocurrencies is crashing and a recently filed SEC complaint is at the root of the free fall. According to CoinMarketCap, the XRP token’s value. XRP declined sharply following news of the expected SEC suit, with the cryptocurrency falling over 17% to around 46 cents.
From August to September of this year, business intelligence firm and international giant—MicroStrategy—invested $ million in Bitcoin.
Following MicroStrategy’s investment, Square invested $50 million—1% of the company’s total assets—into Bitcoin on October 8, Since these investments, MicroStrategy and Square have made significant profits of % and %, with each.
Because of this halving, bitcoin’s supply is expected to rise by just % in — an all-time low for the cryptocurrency. It’s expected to rise by less than 2% in It’s expected to. Bitcoin ETF News. The report indicates that bitcoin has commanded more than 50% of the total cryptocurrency market cap in recent weeks.
. Bitcoin's Roots. Before starting to predict bitcoin projections, let's go back a little to the basics.I assume, as you are reading this guide, you must have heard of Bitcoin.
Bitcoin is the world’s first digital currency, and it has been very popular over the last year!A lot of people have made large profits by buying Bitcoin at a low price and then selling it for a high price.
As the price of ETH started to fall and the cryptocurrency market entered a major bear market, analysts have said that ERC20 projects started to sell their ETH holdings, causing ETH to experience a more intense downtrend than other major cryptocurrencies.
ETH reward reduction. Bitcoin's recent rally seems to be driven by whales, as evidenced by average transaction sizes and increasing asset holding concentration levels.
Western Union’s CEO has, however, mentioned that the company’s settlement system is already quite mebelshop61.ruer, the company’s official position favors blockchain technology rather than cryptocurrency.
Overall, Ripple struggles to find institutional demand for XRP, which shows through declining institutional direct sales.
Incidentally, the suit against Ripple triggered a USD 50Bn crash in the cryptocurrency market. Ripple is a cryptocurrency company, founded in San Francisco in It is considered a significant player in the industry and aims to revolutionise payments (their exchange network is claimed by some to be a low cost and alternative to even SWIFT).
Bitcoin cash, the rival that split from bitcoin in Augustwas down % to $1, giving the offshoot a market cap of $ million. There was only one speck of green in the sea of red.
5 Good Reasons Why You Should Invest In Bitcoin
The entire cryptocurrency market is falling and the MACD indicator is currently suggesting that the heavyweights Bitcoin, Ripple, Litecoin, and Ethereum are all in correction mode. Until a.
The largest cryptocurrency in the world has a glass ceiling cap of 21 million tokens, with more than million already circulating, according to data from mebelshop61.
ru The Ethereum price was following the cryptocurrency market trend in with a moderate growth from $ to $ per ETH with the All-Time-High of $ USD on 26 of June.
In August, the Ethereum price began to fall the whole crypto market.
ETH coin finished its performance in with a price of $ The social media giant announced that it will launch its new cryptocurrency in the first half of As an investment, it's ly to fall flat.
August 5, Cardano price is at risk of a significant correction if bulls can’t defend $ The digital asset has been trading inside a tightening range for the past 24 hours.
ADA could also see a massive. NEO makes the list for those asking what cryptocurrencies to invest in fall for a few reasons.
The cryptocurrency has been a consistent riser since March, having jumped from $ in February to just above $20 at the end of August, surpassing bullish.
Several concerns awashed the social media following the recent circular issued by the Central Bank of Nigeria (CBN) to Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs) and Other Financial Institutions (OFIs) to close all accounts involved in dealing with cryptocurrencies or facilitating payments for cryptocurrency exchanges in the country.
On January 7,the cryptocurrency reached $ 42, per unit, which is an increase of more than % in just ten months. Just three days later, on January 11, BTC fell slightly below $ Entrepreneur en Español.
6 Reasons Bitcoin Has Nearly Tripled in 6 Months
It's back! Whether you realize it or not, the cryptocurrency market is on fire, once again, and it's being led by the most popular, and largest, digital currency in the world, bitcoin.
After hitting an all-time high of more than $20,000 per token in December 2017, bitcoin wound up losing more than 80% of its value over the next year.
But since bottoming in the low $3,000 range this past December, bitcoin has been virtually (and literally) unstoppable.
Earlier this week, bitcoin eclipsed the $8,800 mark during intraday trading, its highest value in just over a year, with the all-important and psychological $10,000 level once again within striking distance.
But, to many, bitcoin's ascent is somewhat of a mystery. After doing some digging, here are six logical reasons for bitcoin's near tripling in value over the past six months.
A physical gold bitcoin with a digital chart in the background.
Image source: Getty Images.
1. It's sort of “technical”
One of the biggest knocks against cryptocurrency investing is that there are no fundamental metrics (at least the sort that we're used to as investors in equities) that'll help investors determine an appropriate value for crypto tokens. With the exception of underlying blockchain processing speed, there are no comparable metrics between tokens and blockchains.
What this means is that investors almost always rely on technical analysis — i.e., chart patterns, supports, resistances, and volume — to determine where digital currencies will head next. Relying heavily on technical analysis tends to lead to wild and momentum-based swings upward and downward in cryptocurrencies, which is exactly what we're witnessing with bitcoin at the moment.
2. Mining rewards will soon be halved
A slightly more tangible reason for bitcoin's ascent has to do with the expected halving of mining rewards by May 2020.
Cryptocurrency mining describes the act of people or businesses validating transactions on a blockchain as accurate and true. In the case of bitcoin, its transactions are validated via the proof-of-work model, whereby high-powered computers solve complex equations to proof transactions on the blockchain.
As you can imagine, operating these high-powered computers can be expensive due to electricity costs and cooling needs (computers can create a lot of heat when at full operation). However, the block reward for folks who are the first to solve a block (i.e., group) of transactions is 12.
5 bitcoins, which as of Tuesday's price of $8,700 per token equates to a haul of $108,750.
But every couple of years bitcoin's block reward halves. The next expected halving should occur in May 2020, with the reward dropping to 6.25 bitcoin per resolved block. Essentially, investors and miners are getting in ahead of this expected event by pumping up bitcoin's price, with miners attempting to gobble up as many block rewards as possible prior to this halving event.
A row of hard drives set to mine cryptocurrency.
Image source: Getty Images.
3. Perceived scarcity
Building on the previous point, bitcoin's perceived scarcity is probably responsible for some of its recent ascent.
The largest cryptocurrency in the world has a glass ceiling cap of 21 million tokens, with more than 17.72 million already circulating, according to data from CoinMarketCap.com. This supply grows as new blocks are solved and block rewards are paid to miners.
Similar to how gold derives its value from the scarcity of physical metal in existence, bitcoin has pushed higher on the idea that its limited supply of tokens creates value.
This upcoming halving event next May provides further “evidence” of this perceived scarcity.
4. Increased institutional interest
A fourth reason bitcoin has been heading higher can be traced to growing institutional interest in bitcoin from Wall Street and wealthy professional traders.
Generally speaking, bitcoin can only be purchased via unregulated cryptocurrency exchanges, which is almost always a no-go for institutional investors.
The one exception being that bitcoin futures contracts were introduced in December 2017 by the CBOE Global Markets and CME Group (NASDAQ: CME) that allowed institutions to make bets on the future price of the popular digital coin.
While volume for the CME's bitcoin futures contracts had typically ranged between 3,000 and 4,000 contracts per day before it began rising, it effectively doubled in the weeks and months that have followed. Although it's unclear if these bets are overwhelmingly bullish, it does suggest that interest in bitcoin is picking up on Wall Street.
A physical gold bitcoin laid atop a messy pile of hundred dollar bills.
Image source: Getty Images.
5. An upcoming SEC decision on bitcoin ETFs
The rally in bitcoin could also be tied to an upcoming decision by the Securities and Exchange Commission (SEC) on whether or not bitcoin exchange-traded funds (ETFs) will be allowed on exchanges.
A decision by the SEC was actually expected months ago, but it's been delayed on numerous occasions by the regulatory agency.
In a document filed by the SEC a little more than two weeks ago, it announced that it would be fielding comments from the public for three weeks, as well as rebuttals to those comments for an additional two weeks.
the new deadline, the SEC is expected to make its ruling on bitcoin ETFs by Aug. 19, or Oct. 18 at the latest if it chooses to delay its decision once again.
Should bitcoin ETFs be allowed to list their shares on major U.S. exchanges, it would ly lead to an influx of capital from small and large investors a, and it could be something of a stabilizing force in an otherwise very volatile cryptocurrency space.
6. Blockchain projects are advancing
A sixth and final reason for bitcoin's major rally could have to do with the advancement of blockchain projects within the financial space, as well as in other sectors and industries.
Blockchain is the transparent but immutable digital ledger underlying nearly all crypto coins where transaction data is logged.
Although bitcoin's blockchain is designed entirely for the purpose of accelerating financial transaction settlements, its blockchain is nonetheless the foundation from which other projects blossomed.
As more brand-name businesses consider incorporating blockchain into the mix, the perceived validity of bitcoin's “story” gains steam.
A handful of stacked physical bitcoins in a mouse trap.
Image source: Getty Images.
Here's why you shouldn't buy into this latest rally
Clearly, there is no shortage of potential reasons behind this incredible surge in bitcoin. But none of these reasons hides the fact that a number of major deficiencies in the cryptocurrency investing thesis have yet to be addressed.
For example, even though blockchain is supposed to be a step up in security over traditional banking networks, theft has become a common problem.
Earlier this month, popular crypto exchange Binance revealed that hackers stole 7,000 bitcoins, which are now worth about $61 million.
Since the SEC has virtually no ability to track stolen coin or go after hackers outside the confines of the U.S. borders, most stolen cryptocurrency remains lost forever.
Bitcoin's utility, and the utility of nearly every other cryptocurrency, is perhaps the biggest issue of all.
Most digital tokens aren't accepted by businesses due to their volatility and lack of financial regulation and backing.
What's more, it's the blockchain technology underlying digital tokens that holds the real value… yet investors have zero ownership in this underlying technology when they purchase digital tokens.
With regard to bitcoin, its “perceived scarcity” argument is also an issue. This scarcity is purely computer code, whereas an asset gold has physical (and thereby tangible) scarcity. If the bitcoin community somehow gained consensus, its circulation could extend beyond 21 million, debunking the “scarcity” of the most popular crypto coin.
And, lastly, there aren't any viable investment opportunities that make sense for investors. For instance, the Grayscale Bitcoin Trust (NASDAQOTH: GBTC), which owned 225,638 bitcoin as of April 30, 2019, should have an easily calculable net asset value (NAV).
But the Grayscale Bitcoin Trust has regularly been valued at well above its NAV since inception, demonstrating that investors have built undue premium into the fund.
Not to mention, the Grayscale Bitcoin Trust charges a ridiculous 2% annual management fee for doing virtually nothing with its existing portfolio of coins.
As has been the case for years, the rally in cryptocurrencies bitcoin may be eye-popping and jaw-dropping, but there's little, if any, substance behind these moves that merits investment.
More From The Motley Fool
Crypto, Blockchain & Bitcoin Articles
Sean Williams has no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool recommends Cboe Global Markets Inc. and CME Group. The Motley Fool has a disclosure policy.