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German investment bank Deutsche Bank, in a series of reports on “The Future of Payments” has said that “a real digital payment revolution has been underway for the past ten years. Cash is losing ground as a payment method.” The report also said that “non-sovereign cryptocurrencies pose a threat to political and financial stability.” However, Deutsche Bank forecasts that cash is unlikely to vanish in the near future.
BTC initially slumped to the mid-$7,000 range last November after it had spent the early part of that month traipsing through $9,000 territory. It had hovered throughout this region since late October, but ultimately failed to keep the momentum up. It dropped at the midway point of the following month and continued to endure small slumps through the end of the year.
“Positive volume flow, guppy flipping bullish, above the cloud with $BTC. Breaking 9200 is the magic number. Looks like we’ll get a kumo twist here soon as well in the near future. 1D Ichi on the 20, 60, 120, 30 settings has been pretty spot on with the twists,” Josh McGruff – a popular cryptocurrency analyst – explained in a tweet from just prior to the rally.
Apex Clearing has disclosed the fourth-quarter Millenial 100 report that analyzed over 734,000 portfolios possessed by U.S.-based investors with an average age in the region of just 31 years. The result was motivating and it quickly captured the attention of Apex CEO, Bill Capuzzi, who has wasted no time in reacting to it. In a release that came along with the revelation of the results, Capuzzi said:
- Jerome Powell and the FOMC kept interest rates on hold and soothed the U.S. stock market by extending its liquidity push through April 2020.
- Bolstering the Dow Jones, Apple, Boeing, and Dow Inc. enjoyed strong post-earnings rallies.
- Despite the positive mood, the coronavirus outbreak just crossed a disconcerting milestone.
“I expect Bitcoin to retest all time highs by July of 2020. It will take some time to breakthrough that level but I fully believe we will before the end of the year. I also a holding onto my longer term target of $150,000 Bitcoin by May 2022.”
Coinbase CEO Brian Armstrong has recommended crypto-assets, once again, as the solution to economic woes, debt-monetization, and other problems facing the global economy. Armstrong specifically referenced troubles with the repo market, making the point that younger investors are far more comfortable with natively digital crypto-assets, than older generations.
MetaMask is trying to find a solution to Ethereum transaction fees, looking for ways to allow DApps to cover fees on behalf of users, improving the user experience. MetaMask, the popular Ethereum wallet, has concluded its Generalized Metatransaction Contest. The contest was designed to find a solution to Ethereum transaction fees.
It will employ the help of the Swiss crypto valley, collaborating with Swiss investment company Crypto Valley Venture Capital (CV VC) and its subsidiary CV Labs. And will offer a variety of services such as incubation for start-ups, co-working facilities, blockchain training, education, events, mentoring and funding. Dubai Multi Commodities Centre (DMCC), a Dubai government entity, made this initiative known at Davos 2020. Where it stated that it is launching a crypto valley in its free zone, at the heart of the city’s leading business district.
Litecoin’s 1-day chart would re-assure LTC proponents. LTC’s long term chart pictured the formation of a prominent Cup and Handle pattern (i.e C-H pattern), which is a significant bullish pattern that usually occurs over a longer time duration. The pattern started taking shape from the start of November, and the neckline has been tested a few times over the past 3 months.
This is the bottom line that has every trader worried. Crypto hacks, for the most part, appear unbeatable to one extent or another. Despite the advancements made in security over the years, more changes occur in the dark web world that allow hackers to somehow bypass these security measures and gain access to funds that aren’t theirs.
With Bitcoin expected to greatly benefit from the event, its possible “high price” could make it not affordable for most millennials, who are the most informed and likely to benefit from the blockchain tech in the future. This will result in other altcoins rising and getting a place in the ‘bull train’.
As per Bakkt’s data, not a single bitcoin options contract was traded last week on Bakkt, withactivity last registered on Jan. 17, when 20 lots had changed hands. This is happening while the price of bitcoin has rallied to three-month highs, raising the cryptocurrency’s volatility. Demand for options tends to rise with a spike in volatility, the standard deviation of an asset’s returns that is used as a measure of uncertainty.
With the government forecast to spend $1 trillion more than it collects in taxes each year, the institution sees debt held by the public reaching 98 percent of GDP by 2030. Some believe such policies make widespread adoption of a global currency free from government manipulation an inevitability.