Posted by AGORACOM-JC
at 10:29 AM on Wednesday, October 30th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
Twitter’s Dorsey puts another bet on crypto
Bitcoin proponent Twitter CEO Jack Dorsey continues to bet on crypto by investing in CoinList, a two-year-old venture that helps startups raise money through token sales.
The company says it connects investors with thoroughly vetted
blockchain-related companies in compliance with crypto regulations.
CoinList has supported more than $800M of token offerings since August 2017.
Dorsey participated in a recent $10M funding round, the Wall Street Journal reports.
The new capital will help with its plans to offer new services
including a new exchange, CoinList Trade, and a crypto wallet.
Posted by AGORACOM-JC
at 2:17 PM on Friday, October 18th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
Crypto Correlations Change As Ethereum Becomes Benchmark, and Bitcoin Analysis Today
An important change from Q2 is a gradual ‘flippening’ of Ethereum and Bitcoin.
As the #1 cryptocurrency began increasing its dominance, Ethereum became the benchmark asset for the rest of the market, with most cryptocurrencies showing higher correlation with it than Bitcoin.Â
The cryptocurrency markets are seeing a small retracement today. Bitcoin continues
its low-volatility trading around the $8,400-8,500 level, while
altcoins are still pulling back from their previous gains.
Notable exceptions are 0x (ZRX), Algorand (ALGO) and Chainlink (LINK), which gained 3%, 10% and 5% over yesterday respectively.
Cryptocurrency price dynamics on October 11, by Coin360
Correlations, correlations everywhere in crypto
A report by Binance Research
analyzed the relative performance of cryptos in Q3. As markets slid
downwards from their yearly high in the summer, large market-cap coins
did so in unison.
“Over the third quarter of 2019, the average correlation between
Bitcoin and most other large cryptoassets ​remained in line with the
previous quarter,†the report notes. “​However, the average
correlation among large cryptoassets increased in Q3 2019 with a
significant positive increase in the correlations of BNB, ChainLink, and
Bitcoin SV with other cryptoassets.
An important change from Q2 is a gradual ‘flippening’ of Ethereum and Bitcoin. As the #1 cryptocurrency began increasing its dominance,
Ethereum became the benchmark asset for the rest of the market, with
most cryptocurrencies showing higher correlation with it than
Bitcoin. But correlation with Ethereum Classic was surprisingly among
the lowest, amounting ‘only’ to 0.69.
The report also highlighted the significant correlation between XRP and Stellar, previously noted by Crypto Briefing.
Lastly, cryptocurrencies appear to be specializing in distinct
branches. Proof-of-Work assets such as Bitcoin, Litecoin and Bitcoin
Cash exhibited higher correlation between each other than median. The
same can be said for privacy coins such as Monero, Zcash and Dash, as
well as programmable blockchains including EOS, NEO and Ethereum.
But while some of these trends have a logical underpinning, the report cautions that the future is unknowable. “Yet,
past empirical results are not representative of the future of this
industry. Hence, it remains to be seen whether some of these findings
will repeat in the fourth quarter of 2019,†analysts conclude.
Daily Bitcoin Commentary With Nathan Batchelor
Bitcoin is under downside pressure as we head into the U.S trading
session, after the BTC/USD pair reversed sharply from just above $8,800
level earlier this morning.
Around $10,000,000,000 was wiped off the total market cap of the
entire cryptocurrency market in just under one-hour. Interestingly, the
total market cap of the cryptocurrency market hit its highest level in
two-weeks before reversing.
No apparent fundamental catalyst has been attributed to the news. The
only real bearish news is that one of the largest payment systems in
China, Alipay, has recently promised to ban all payments related to
Bitcoin.
From a technical perspective, traders will likely continue to fade
rallies until the market cap of the entire cryptocurrency starts to
trade comfortably above its 200-day moving average.
Traders are currently selling advances towards the $230,000,000,000
level, as it represents the 61.8 Fibonacci retracement of the September
monthly trading low to the September 24th swing-high.
As far as Bitcoin is concerned, the cryptocurrency is back under
short-term selling pressure while trading below the $8,500 level, with
its 200-day moving average currently located around the $8,660 level.
According to short-term technical analysis, the BTC/USD pair can
expect to find support from the $8,215 and $8,100 levels if the reversal
continues.
If there is a sustained loss of the $8,100 level, we should expect
short-term bulls to capitulate, leaving the door-open for further
decline towards the $7,715 level.
* ‘The weekly time frame is showing that a bullish falling
wedge is forming. A move away from the $9,780 to $7,500 price range will
trigger the pattern’. *
SENTIMENT
Intraday bullish sentiment for Bitcoin has fallen, to 51.50%,
according to the latest data from TheTIE.io. Long-term sentiment for the
cryptocurrency is unchanged, at 61.50%.
UPSIDE POTENTIAL
Buyers need to move price back above the $8,500 level to stabilize
the BTC/USD pair today. A multi-day price close above its 200-day moving
average is currently needing to encourage a technical test of the
$9,000 level.
The daily RSI indicator is starting to roll over and now trades below
40, while the Choppiness indicator on the mentioned time frame is
showing that the market is still lacking a strong trend.
DOWNSIDE POTENTIAL
The loss of the $8,500 level has encouraged traders to test towards
the $8,300 level. A loss of the $8,300 level later today may lead to a
key test of the BTC/USD pair’s weekly pivot point, at $8,100.
Extended intraday technical support for the BTC/USD pair is currently located at the $7,715 and $7,500 levels.
Posted by AGORACOM-JC
at 3:14 PM on Thursday, October 17th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
Crypto is coming for Fortnite – whether it likes it or not
Fortnite’s Chapter 2 launched this week. Will crypto be part of its next big evolution?
Here’s how the game has already crossed paths with blockchain tech.
Epic Games’ enormously popular battle
royale shooter Fortnite made headlines this week after it shut down—but
only for a couple of days. Epic cannily replaced the game’s vibrant map
with a black hole, which fans stared at until it revealed the game’s Chapter 2 update, adding a brand-new environment, fresh gameplay elements, and a refreshed interface.
With some 250 million total players
as of this past spring, Fortnite is a cultural sensation that goes
beyond core gamers—and it’s big business too. The game may be free to
download and play, but in-game costumes and other paid perks have
generated huge revenues for Epic—$2.4 billion in 2018 alone. Naturally, that’s got the blockchain community asking: when will Fortnite include crypto?
You can’t (yet) spend cryptocurrency
in the game itself, but both Fortnite and Epic Games have already
crossed paths with crypto and blockchain in a number of ways. Can
in-game integration be far behind? Here’s a look at the ever-growing
intersection between Fortnite and crypto.
You can bet on Fortnite matches with crypto
Fortnite is one of the fastest
growing esports around, and Epic Games has facilitated its growth by
pumping the competitive scene full of prize money and large-scale
tournaments. According to Esports Earnings,
Fortnite competitions have awarded more than $84 million to date in
prizing, with July’s Fortnite World Cup responsible for about $33
million of that.
With sports inevitably comes betting—and yes, esports betting is definitely a thing. Unikrn
is one of the most popular esports betting sites, allowing users to bet
on the outcomes of official competitive matches, as well as matches
from popular Twitch streamers.
Unikrn betting is based on the platform’s own
UnikoinGold token, which can be bet
on professional Fortnite matches, wagered in your own in-game battles,
and used to enter prize giveaways. The esports industry is rapidly
ballooning in size and value, with esports analytics service Newzoo
estimating a $1.1 billion total
value this year and nearly $1.8 billion in 2022. Betting will only grow
more appealing as more and more people get hooked on esports—and crypto
is already making inroads on the industry.
For a brief moment at the start of
the year, you could actually buy Fortnite merchandise through an
official Epic Games store using Monero (XMR). Monero developer Riccardo
Spagni seemed (understandably) thrilled about the news, and suggested
that it was chosen for its privacy-centric approach compared to Bitcoin.
However, there was a snag in the excitement: Epic Games didn’t actually mean to enable Monero support. After a few days, the option was disabled and company founder and CEO Tim Sweeney tweeted,
“Actually, Fortnite’s brief foray into crypto was accidental. We worked
with a partner to open a merchandise store, and somewhere along the way
Monero payment was enabled.”
Tokenize all the Things
A multimedia collection by Decrypt. Explore how “tokenization†is redefining our relationship to ownership.
While that official crypto dalliance
was sadly unintentional, you can actually purchase V-Bucks—Fortnite’s
premium, in-game currency—with Bitcoin, Ethereum, Litecoin, Dash, and
Dogecoin, right now. However, it’s through a third-party service, Bitrefill…
and it’s via a very simple workaround. Essentially, you choose which
game system or platform you play on, and then you’re sent a gift card
code for that store. You can use then use that code to purchase V-Bucks
and load up on silly character skins, colorful weapons, and fancy dance
moves (really).
Epic Games is actually excited by blockchain tech
Epic’s swift shutdown of Monero
support in its merch shop might seem like a sign that the company
doesn’t see a future in cryptocurrency and blockchain technology, but
worry not: Sweeney tweeted that they’re into it, but just not ready to
roll it out to a huge, mainstream audience.
“Many of us at Epic are big fans of
the decentralized computing tech underlying cryptocurrency, however a
lot more work is needed on volatility and fraud-proofing before bringing
it to such a broad audience that includes younger gamers,” he tweeted in January, adding that,
“Epic doesn’t have any cryptocurrency partners and aren’t in any crypto
partnership discussions with anyone. We do read lots of papers and talk
to smart people to learn more in anticipation of an eventual
intercept.”
Since then, though, Epic Games has changed its tune; in May this year, it announced a partnership with The Abyss,
a blockchain gaming platform that allows game developers to tap into
Epic’s Unreal Developers Network. Studios that put their games on the
platform can accept Abyss Tokens for both the games themselves and
in-game purchases.
The crypto industry, meanwhile,
continues to chip away at the rock face. Recently, devs for the Nano
cryptocurrency unveiled a beta plug-in for Unreal Engine 4â —the game engine that underpins
Fortniteâ —that lets users pay for in-game items in the Nano
cryptocurrency as well as earning Nano for in-game tasks such as killing
enemies and participating in tournaments.
Call it baby steps, but it’s
certainly something. Sweeney’s comments suggest that a crypto future for
Epic Games could just be a matter of time—and surely interest from the
blockchain community is huge, considering how much money flows through
both Fortnite and the video game industry as a whole (an estimated $152.1 billion in 2019). Until then, we’re sure to see more unofficial crypto initiatives spring up around Fortnite’s fringe.
Posted by AGORACOM-JC
at 9:48 AM on Wednesday, October 16th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
Brokerage firm eToro has brought a new tool to the market that’s supposed to help investors crack the code of investing in cryptocurrencies such as bitcoin – crypto Twitter.
By: Harsh Chauhan
Brokerage firm eToro has brought a new tool to the market that’s
supposed to help investors crack the code of investing in
cryptocurrencies such as bitcoin – crypto Twitter.
In a recent blog,
eToro announced that it is partnering with cryptocurrency information
service provider TIE, which uses algorithms based on crowd-driven
sentiment to develop trading strategies.
Twitter can help you make money in bitcoin and crypto
The brokerage firm points out that TheTIE-LongOnly CopyPortfolio will
open trades on the basis of positive Twitter sentiment. The machine
learning-powered algorithm will analyze over 850 million tweets daily to gauge cryptocurrency and bitcoin sentiment.
What’s more, eToro claims that the crypto Twitter-based trading
strategies have led to returns of 281 percent after fees in the past two
years. The annualized return of the trading strategy is 123 percent,
which outpaces the 29 percent return delivered by an equally-weighted
basket of identical underlying crypto assets.
eToro claims that the algorithm has also beaten bitcoin’s 41 percent
return over the past two years. So, the premise of the Twitter-based
investment strategy looks promising given the track record over the past
couple of years. But what’s the reason why this strategy seems to be
working so well so far?
Sentiment-driven investing could be the key to cracking crypto
Cryptocurrencies such as bitcoin are relatively new. So the world seems confused about the characteristics
of bitcoin and other cryptocurrencies, which was originally meant to be
a method of peer-to-peer electronic cash system for making online
payments.
Posted by AGORACOM-JC
at 10:03 AM on Friday, October 11th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
Australia’s Gold Mint Is Backing a Crypto Token Based on Ethereum
Perth Mint Gold Token (PMGT) was launched by InfiniGold on Friday, and is backed 1:1 by GoldPass certificates issued by The Perth Mint.
The digital certificates are 100% gold backed and guaranteed by the Government of Western Australia, which is the sole owner of the 120-year-old mint.
Australia’s only bullion mint is backing a new digital token aimed to allow investors to trade the precious metal in real time.
The Perth Mint Gold Token (PMGT) was launched by InfiniGold on Friday, and is backed 1:1 by GoldPass
certificates issued by The Perth Mint. The digital certificates are
100% gold backed and guaranteed by the Government of Western Australia,
which is the sole owner of the 120-year-old mint.
“PMGT is digitised gold that allows users to conveniently acquire and
have entitlement over government guaranteed physical gold stored at The
Perth Mint in a trusted and cost-effective way,†InfiniGold said in an announcement. The
token – designed with the assistance of professional services firm
Ernst and Young – is aimed to offer an alternative to traditional gold
investment products such as ETFs, while using blockchain tech to allow
real-time trading and settlement.
InfiniGold CEO Andreas Ruf said:
“With The Perth Mint as custodian of the underlying physical gold
that backs PMGT, buyers will be able to access a secure and reliable
token representing the strongest asset class to date – gold.â€
As far as the underlying tech goes, PMGT is a compatible with
the ERC-20 standard behind by many ethereum-based tokens. InfiniGold is
further touting the token as an alternative to U.S. dollar-backed
stablecoins such as tether and USD Coin.
Perhaps taking aim at tether – the top stablecoin by market cap that’s faced accusations that it manipulated the price of bitcoin and was not actually fully backed by USD –
InfiniGold said PMGT’s gold backing offers investors “superior
transparency, credit quality, risk diversification and hedging against
market volatility.â€
Investors are able to sell their PMGT back to The Perth Mint via its
GoldPass platform, or alternatively can exchange their certificates for
gold the mint’s products. “Subject to final regulatory consultation,
this will make PMGT directly tradable against traditional gold products,
including gold ETFs, CME gold futures, and physical XAU,†said the
company.
Richard Hayes, Perth Mint CEO, said in the announcement:
“The digitisation of gold via a public ledger is a natural
progression for the global commodity markets. It will promote gold as a
mainstream asset, enhance its accessibility, and offer greater
liquidity, transparency and auditability of the real assets backing this
type of digital token.â€
The launch comes as haven assets like gold, and possibly bitcoin, are becoming more attractive to investors. Fears of a U.S. recession
have seen gold prices bounce in recent weeks, and other companies are
launching products to capitalize on the yellow metal’s growing
popularity.
Just yesterday, crypto liquidity and OTC provider B2C2 launched the first gold derivatives product that synthetically trades against bitcoin and is targeted at investors seeking safety from market uncertainty.
Posted by AGORACOM-JC
at 1:54 PM on Monday, October 7th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
John McAfee’s Decentralized Crypto Exchange Launches in Beta
American entrepreneur and vocal crypto advocate John McAfee has launched a decentralized exchange (DEX) running on the Ethereum (ETH) blockchain.
McAfee DEX is set to run in a beta release status as of Oct. 7, according to the new platform’s official website and McAfee’s personal Twitter feed.
On Oct. 5, McAfee’s tweet
unveiled the new platform, stating that “it takes time for enough users
to join to make it real, but if you play, and be patient,†the exchange
can serve as “the door that frees us from Government’s cornerstone of
control: Fiat currencies. It can’t be shut down.â€
In an embedded video, McAfee argues that the cryptocurrency community
faces the question of whether its aspirations are limited to merely
expanding the possibilities for pure speculation — “all about money†—
or are about an ideal, namely freedom.
After denouncing governments’ control over fiat currencies and the
losses this presents to individual liberty, McAfee turned to the crypto
space: “centralized exchanges are our weak point,†he said, pointing to
China’s move to shutter domestic exchanges in September 2017.
McAfee continued:
“A distributed exchange can’t be shut down by anyone. Decentralized
meaning that nobody controls it, distributed meaning that it is
everywhere and therefore impossible to stop. We’ve had privacy coins,
that’s the other part of this equation, because privacy coins with
decentralized, distributed exchanges is the goose that lays the golden
egg for us. We don’t use it though.â€
McAfee DEX beta: the details
According to the details released so far, McAfee DEX reportedly will entail no Know Your Customer checks, block no jurisdictions and charge a single platform fee of 0.25% for takers. It will not charge maker fees and will also reportedly be open sourced.
Any ETH-based token (ERC-20 standard) can be added without a fee to the beta version, with more unspecified tokens to be supported in the future.
“Don’t expect miraclesâ€
In his Oct. 5 video, McAfee pointed to the low number of traders
currently using decentralized exchanges, considering that this makes
them “useless.†For his DEX, McAfee urged users:
“Play with it, don’t expect miracles at first. Play with it until it becomes real.â€
As Cointelegraph previously reported,
non-custodial decentralized crypto exchanges enable users to trade
peer-to-peer, using smart contracts to automate deal matching and asset
liquidation in order to allow users’ funds to remain under their
control.
As of January 2019, a survey
of over 400 international crypto exchanges indicated that decentralized
platforms accounted for just 19% of the global exchange ecosystem, and
their trading volumes amounted to less than 1% of those on centralized
exchanges.
This April, major centralized exchange Binance launched its own DEX on its native mainnet. Other major exchanges eyeing their own DEX include OKEx and Bithumb.
Posted by AGORACOM-JC
at 5:16 PM on Wednesday, October 2nd, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
Ripple’s Xpring Launches Crypto, Fiat Payments That Integrate Into Any App
Ripple’s Xpring is launching a platform it says makes it possible for developers to integrate fiat and cryptocurrency payments into any application
Xpring is targeting crypto and non-crypto developers alike with the platform
Ripple’s Xpring is launching a platform it says makes it possible for
developers to integrate fiat and cryptocurrency payments into any
application.
The suite of services includes an Xpring software development kit
(SDK) that allows programmers to integrate XRP apps in multiple
programming languages. It also includes a variety of new tools for
working on both XRP and Ripple’s Interledger Protocol (ILP).
Xpring is targeting crypto and non-crypto developers alike with the
platform, Xpring senior vice president Ethan Beard told CoinDesk.
“Xpring SDK allows you the developer to use the XRP ledger simply and in any programming language you want,†Beard said, adding:
“What takes a developer today a 100 lines of code to do a transaction
on XRP ledger, using Xpring SDK cuts that down by 80 percent.â€
Xpring has already been built on open-source protocols, but this
platform would function like Amazon Web Services, Beard said. Developers
could download the code and run it themselves, or now they can go to
Xpring and plug into the service.
Beard envisions the platform being used to enable micropayments in industries like media and gaming.
“Ideally, we think the Xpring platform can work for any type of payment,†Beard said.
The platform is a new vertical for Xpring, which has been an
investment arm for Ripple – building a network of companies and
use-cases around XRP for little over a year. This initiative is aimed at
investing in and growing a developer base around the cryptocurrency.
“While blockchain and cryptocurrency can be transformative for how
payments work, what we’ve learned in the last year is that working with
these new technologies is quite difficult as well,†Beard said. “That
creates a barrier for developers to adopt these technologies.â€
As a part of the announcement, Xpring is also announcing that
payments processor BitPay, mobile wallet BRD and digital custody
provider Anchorage are all adding XRP to their offerings. With BitPay on
board, the company anticipates users being able to use XRP for everyday
purchases at thousands of merchants, including Microsoft and AT&T.
Furthermore, Chainalysis is adding the XRP ledger to its blockchain analytics product.
Posted by AGORACOM-JC
at 10:44 AM on Friday, September 13th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
Facebook’s Crypto Launching in H2 2020, Says Libra Association Chief
The head of the nonprofit organization behind Facebook’s Libra digital currency has said the company is committed to launching it and clearing regulatory hurdles.
Perez: “We don’t want to be like BlackRockâ€
In an interview with French news magazine Les Echos
on Sept. 12, Bertrand Perez, director general of the Libra Association,
said the token should appear in the second half of 2020.
The comments came the day France’s economy and finance minister said
the country would refuse to allow Libra to operate within its borders.
As Cointelegraph reported,
concerns over financial stability fuelled the resentment, with Bruno Le
Maire appearing to wish to shape a hostile European Union policy
towards Libra.
According to Perez, however, Facebook does not wish to create new
supplies of money via the token. He drew comparisons to BlackRock, the
world’s largest asset manager, saying the social media giant did not
want to compete in that market.
“We don’t want to become a new BlackRock,†he told Les Echos, continuing:
“That’s why these concerns about the destabilizing effect our reserve
currency could have on central banks’ fiat currencies — which figure in
our basket — seem unfounded to us.â€
Facebook will resolve gov’t worries
Perez likewise confirmed Libra, upon launch, would be tied to a selection of major world currencies, but notably not the Chinese yuan.
As Cointelegraph previously noted,
Beijing is putting the finishing touches to its own digital currency,
with central bank officials already voicing direct worries of their own
about Libra’s backing.
Nonetheless, Perez is confident that all the regulatory difficulties could be solved by the launch.
“The year we’ve taken prior to release will allow us to iron out all the problems,†he added.
France meanwhile has pledged not to tax crypto-to-crypto transactions, highlighting its potentially permissive stance towards the phenomenon.
Posted by AGORACOM-JC
at 9:55 AM on Monday, September 9th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
Bitcoin Price Hovers Around $10,000, Analysts Urge Buyers to Accumulate, Bodes Well For ThreeD Capital
As the Bitcoin price consolidate around $10,000 level, analysts tell investors that now is the time to remain bullish and accumulate more BTC tokens in their wallets.
After making a recovery above $10,000 last week, the Bitcoin
price is hovering above $10,000 levels now. Last week, Bitcoin was
riding on an upward momentum until Thursday, where it hit its weekly
high of $10,850. However, post that the momentum has again turned south
for the world’s largest cryptocurrency.
In the last three days, Bitcoin lost nearly $700 of its price. At the
press time, Bitcoin is trading at $10,151 with a market cap of $181
billion. But there’s a good amount of trading activity in Bitcoin with
24-hour trading volumes crossing $14 billion. Bitcoin still dominates a
massive 69.8% share in the overall cryptocurrency market cap.
However, some analysts feel that this is the right time to buy more
Bitcoins. They are urging investors to make the most of this moment and
stash as many BTC tokens as per their appetite.
Bitcoin Bull Market Is Now On
Bitcoin investor and partner at Adamant Capital, Tuur Demeester compares
this time with the “post-ICO-bubble bull marketâ€. Demeester calls for
“a screaming buy†on Bitcoin. Besides, he also predicts that Bitcoin
price will just sky-rocket as the Amazon stock did over the last two
decades.
He says that just like Bitcoin, Amazon
stock showed massive volatility in its first decade of listing. Thus,
he believes that weathering this roller-coaster ride, Bitcoin will
ultimately emerge victoriously.
Posted by AGORACOM-JC
at 9:15 AM on Friday, September 6th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
A Top Apple Executive Reveals the Company Thinks Crypto Has ‘interesting
long-term potential’ – Bodes Well For ThreeD’s Vast Crypto Holdings
Vice president of Apple Pay Jennifer Bailey told CNN Business during a private event in San Francisco that Apple is “watching cryptocurrency,” adding the company thinks “it has interesting long-term potential.”
The comments follow Apple’s latest push into consumer
finance products, with its Apple Card credit card releasing in August in
collaboration with Goldman Sachs and Mastercard.
Apple’s potential move into digital coins would serve as “a
major shot in the arm for crypto,” Wedbush Securities analyst Dan Ives
told CNN Business.
By: Ben Winck
An Apple
executive said the tech giant is keeping an eye on cryptocurrencies
during a private event in San Francisco, saying digital coins have
“interesting long-term potential.”
“We’re watching cryptocurrency. We think it’s interesting,” vice president of Apple Pay Jennifer Bailey told CNN at the event. “We think it has interesting long-term potential.”
She addressed the new asset class as part of a talk on the future of digital payments and the company’s push into the sector.
Bailey’s comments follow the August release of the Apple Card, a credit card made in collaboration with Mastercard and Goldman Sachs. The card served as the first major expansion of Apple’s consumer finance products since Apple Pay launched in October 2014.
Apple’s potential move into digital coins would serve as “a major
shot in the arm for crypto,” Wedbush Securities analyst Dan Ives told
CNN Business. He added that the interest in crypto “could make sense
given its sights on further monetizing its consumers.”
The introduction of finance products would fall in line with Apple’s
continued push into service revenue growth. Its Services business now
contribute to more than one-fifth of the company’s quarterly income, and upcoming offerings like Apple TV+ and Apple Arcade could further boost its earnings.