Tag: Cryptocurrencies Market

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Crypto

Cryptocurrencies Market Dropped, Even Though 20% Of The Trading Companies Announced They’d Invest In Cryptos In 2018

According to a survey conducted by Thomson Reuters whose results were released yesterday, 20% of the trading companies of the world would consider investing in cryptocurrencies in 2018. However, despite the good news, the cryptocurrencies market dropped significantly today in the context of other external factors.

20% of the trading companies showed interest in investing in cryptocurrencies

This study, which has been conducted among 400 trading companies, also showed that among those companies considering cryptocurrencies as an interesting asset in 2018, about 70% are already making viable plans to invest in the next 3 to 6 months, while 22% of them are planning to start investing in 6 to 12 months.

According to some analysts, the survey’s results suggest that cryptocurrencies investments are viewed more as short-term projects rather than long-term investment.

“Cryptocurrencies still represent a small part of the trading market but this study shows that this niche segment is beginning to reach the public of the financial services industry. This is a major change from the previous year,” stated Neill Penney from the Thomson Reuters.

Cryptocurrencies market lost its bullish sentiment of the last days

Today, the cryptocurrencies market recorded massive losses despite the strong bullish sentiment which was surrounding the market until earlier.

Bitcoin (BTC) dropped by about 4% to $8,960, Ethereum (ETH) lost 11.4% hitting the $620 level, while Ripple (XRP), the 3rd coin by market cap, declined by 11.48% reaching at $0.81.

Also, the total cryptocurrencies market cap dropped from yesterday’s $426 billion to about $391 billion, at the time of this article.

After a strong upward momentum, which characterized the cryptos in the last few days, these generalized decline is due to the hack on MyEtherWallet.com, which is one of the most popular and used online cryptocurrencies wallets.

Although the total amount which was stolen is of only $136,000 in ETH, so nothing huge, the simple idea that, once again, a crypto-related digital asset has been hacked was enough for investors to keep themselves away from the market.

Nonetheless, the cryptocurrencies market will recover, for sure, and, since there is good news surrounding it such as the announcement that 20% of the trading companies are planning on investing in cryptos, the recovery might come sooner than expected.

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Crypto

Ethereum (ETH) Gained Momentum And Broke Above $700 In The Context Of A Bullish Cryptocurrencies Market

The cryptocurrencies market is once again bullish as all the important crypto assets have gained a lot in the last days. The new trading day began positively for almost every cryptocurrency, all exceeding their resistance levels. Among the daily winners, there is Ethereum (ETH), which gained about 8% in the last 24 hours, passing the $700 level for the first time since the beginning of March.

Ethereum (ETH) was quiet lately and didn’t make in the news very often during the last month. Also, its gains were just normal, so, nothing spectacular being recorded about ETH in the last weeks, until now.

The bullish trending of the top cryptocurrencies in the market brought massive increases in the market’s capitalization in the last days. Accordingly, the cryptocurrencies market capitalization reached $426,5 billion in comparison with the $323 billion market cap registered just a couple of weeks ago.

Ethereum (ETH) broke above $700 in the context of a bullish cryptocurrencies market

The new trading day, April 24th, started normally for ETH as it was trading at about $636. Soon, it gained approximately 9% and passed over the $700 level at evening, gaining, accordingly, about $64 in just one day.

As we speak, Ethereum (ETH) is trading slightly above $700 sustaining the level for about 4 hours.

The 2nd coin in the cryptocurrencies market, ETH registers a market cap of about $70 billion, while it scored a trading volume of about $3,2 billion in the last 24 hours.

The coin is set to keep momentum and to go even more bullish than this. It is expected to close around $700 and, in the following days, Ethereum (ETH) is predicted to continue its growth towards its values against the USD it has registered before the cryptocurrencies market massive correction of a couple of months ago.

In conclusion, the cryptocurrencies market is bullish, with all the big cryptos showing significant gains. Among the winner of today, April 24th, there is Ethereum (ETH) which managed to break above $700, meaning that the coin will continue its uptrend if it gets support to sustain above $700.

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Crypto

Bitcoin Private (BTCP) To Be Added On Ledger Nano In The Next Firmware Update

Both Bitcoin Private (BTCP) and Ledger Nano are evolving in their respective areas but, with the next firmware update, the Ledger Nano will implement Bitcoin Private.

This addition comes to bring more varied and secure methods to stock cryptocurrencies in Ledger Nano, while, at the same time, will offer the Bitcoin Private users to keep their coins safe in the wallet.

This announcement transpired from Nicolas Bacca, one of the Ledger Nano team’s members, on GitHub. Bacca admitted that with the future version of the Ledger Nano, the developers will add support for Bitcoin Private (BTCP).

Nicolas Bacca replied on a topic opened on GitHub about a month ago:

I have tested signing and broadcasting transactions from a custom build of electrum-btcp with success. Please advise concerning adding to the chrome webapp vs. adding to the new desktop app in development.

Nicolar Bacca, on GitHub

Bitcoin Private (BTCP) becomes more and more popular in the cryptocurrencies market

Bitcoin Private forked from Bitcoin (BTC) and ZClassic (ZCL) and was created to improve the privacy of the Bitcoin Network. This has been possible thanks to the ZClassic’s zero knowledge snarks blockchain technology add-on which enhances the security frames on the BTC network.

At the moment of this article, Bitcoin Private (BTCP) is ranked 36th among the other cryptos and is trading at 25.21, recording a decrease of only 0.21% in the last 24 hours.

BTCP has a market capitalization of only a little above $500 million but, as I’ve said, it has drawn investors interest and, most probably, this figure will positively change in the future.

As we speak, Bitcoin private (BTCP) is available for trading at a few cryptocurrencies exchanges, including TradeSatoshi, Nanex, Exrates, and Ocaex, but, according to some speculations, Binance and HitBTC will list it in the near future, which will definitely increase this crypto’s adoption.

In conclusion, Ledger Nano will add support for Bitcoin Private (BTCP) in the next version of the wallet’s firmware, a fact which allows Bitcoin Private holders to keep their coins safe in the wallet.

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Crypto

Ripple (XRP)’s Ryan Zagone Asked UK Regulators To Implement Cryptocurrencies Supervisory Structures Following The Japanese Model

To guarantee and promote secure and legit investments toward cryptocurrencies, Ripple (XRP), the #3 crypto coin in the world by market cap, has demanded the British crypto regulators to instrument similar supervisory structures to the ones implemented by the Japanese government. Ripple pushed the regulators from the United Kingdom to bring to an end the period of freedom for the crypto coins.

Japan has started the cryptocurrencies market’s legalization and control, taking the first position on the planet in terms of crypto coins trading and investments, despite regulations. Therefore, Ryan Zagone from the Ripple’s Regulatory body supported the proposal stating that regulations are important to bring in new investors and promote the cryptocurrencies market maturation.

Ryan Zagone said that:

Regulation creates the guardrails on the highway that allows new entrants to come in, particularly institutional investors.

He is also the one who invited UK regulators to create an equilibrium between risks (referring to crypto’s volatility) and innovation (referring here to the blockchain technologies).

Ripple (XRP) representatives believe that cryptocurrencies market regulations will bring the cryptos into a new era

The 3 important aspects Ripple demanded to be taken into account are financial security, traders assurance, and, maybe the most important one, money laundering avoidance.

At this time, we are in need of better clarity, more rules, and higher certainty. So, it is a good time to start revisiting the ‘wait and see’ approach opted by regulators.

Ryan Zagone

On the other hand, the UK Chancellor Philip Hammond announced, in March, the intention of creating a new group which will handle exclusively the traders’ protection, while also applying the repository of the Bank of England and Financial Conduct Authority.

At this moment, Ripple (XRP) is trading at $0.65, recording a 2.10% loss in the last 24 hours. Besides, XRP is still on the 3rd position in the cryptocurrencies market, marking a market capitalization of about $25.7 billion and an increase of more than $546 million in its volume in the last day.

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Crypto

Bitcoin Center, Based in Manhattan, Was The Host For Bitcoin (BTC) Enthusiasts Who Still Put Their Trusts In The Cryptocurrencies Market

At the Bitcoin Center, in Southeast Manhattan, in New York, the most loyal Bitcoin (BTC) enthusiasts want to continue to believe in the bright future of this cryptocurrency, despite the past weeks’ prices drops and a reduction in the regular enthusiasm related to cryptocurrencies market.

“Two months ago we could not breathe here, there were so many people we had to leave people out,” says Nick Spanos, founder of the Bitcoin Center, based in a back room of a restaurant in the neighborhood of East Village serving as a base camp for followers of the Bitcoin (BTC) crypto coin.

On this Thursday, a few hundred BTC enthusiasts were there to exchange Bitcoin (BTC) via a smartphone brokerage applications, enjoy the free buffet, or listen to Nick Spanos.

As another sign of the interest slowdown, the weekly number of searches on Google with the term Bitcoin is 5 times lower than the peak of Google searches for the Bitcoin (BTC) currency in December.

Bitcoin (BTC) investment, as well as with any asset on cryptocurrencies market, is not a “get rich quick” scheme

“I panicked at the end of December,” said Zalman, a 24-year-old digital assets enthusiast who does not give his last name. He made his first purchases a few months before the price spiked, in December 2017.

“The drop was hard to digest even though I knew the course could not go up forever, I did not sell because I believe in the technological revolution behind it [Bitcoin blockchain technology],” he says.

“But then it was enough for me to remember the 2013 bubble to convince me to keep my bet,” he adds in reference to the dip in the course of the Bitcoin (BTC) in 7 days, from $1,137 on November 29th, 2013 to nearly $600 seven days later before a rebound in stride.

It is these recent investors, attracted by a sharp rise in prices at the end of last year, who really suffered from the cryptocurrencies market volatility.

“New Bitcoin (BTC) investors who entered the market when bitcoin was worth $19,000 are disappointed but the community, including those who invested not later than last May, has not lost any money,” notes Michael Casey, the chairman of CoinDesk’s monitoring committee, an information platform on cryptocurrencies market and blockchain technology.

Bitcoin (BTC) investment is not that scam of the “get rich quick” type. “The goal is to keep your bet and ultimately get monetary independence,” said Nick Spanos, who also added that they do not need such cryptocurrencies market investors in their Bitcoin Center.

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