Latest News on Crypto Bitcoin

Bitcoin is still up around 10% this year the S&P 500 it’s down 13.5 percent so far this year

Bitcoin is still up around 10% this year the S&P 500 it’s down 13.5 percent so far this year the Dow Jones Industrial Average down over14% and yet if you’re probably asked a lot of professional financial advisor out there they’re probably telling people to buy more stocks in that Bitcoin well that’s so scary Bitcoin stuff trust yourself remember to see the big picture we are an extraordinary times right now for global markets but remember that Bitcoin fundamentals are the same as they’ve always been in fact are getting better all the time the Bitcoin tends to rally exponentially after 1/2event don’t get shaken out okay moving According to Raul Powell the CEO of real vision he tweeted out that hedge funds may have liquidated some of their bitcoin long positions to reduce portfolio risks silly guys obviously this makes sense though to the hedge fund manager but i think that this has actually been something that is an underappreciated factor in the current bitcoin price drop.

We spent a lot of time back in 2019 talking about hedge funds and high net-worth individuals and other big-money players actually getting into Bitcoin it’s unsurprising that these big-money tourists would be some of the first ones to run for the exits at the first sign of any real trouble in the markets, the clever ones of course will stay because bitcoins up 10% this year whatever thing else is down massively but many of these traditional players they are adding sell pressure at the same time that we see the plus tokens scam cashing out and big crypto whales splashing around trying manipulate the markets even more so obviously it’s no surprise the Bitcoin has taken a big tumble with all these massive forces acting on the price.

Coin project Bitminutes

 

Cons first DAP has been announced for a coin project, it’s called bitminutes is a platform that tokenized is mobile airtime a coin will be able to be swapped for tokenized airtime or the BMT tokens which can then be traded for real airtime to either top up a mobile or as a way to easily swap value a Summa by trading those tokenized minutes this is all part of the overall vision to bring a stable and trusted digital currency to Africa.

Overinflated fiat currencies and a really fractured continental approach towards interoperability of finance this has been a big hindrance to economic activity across the continent has been a barrier for regular people all over Africa to be able to access financial services a conman 11 a conscript regime it’s finally becoming real with enough willpower anything can happen.

Cardano announced their layer to scaling solution called  Hydra

Big news from Cardano, they have just announced their layer to scaling solution called Hydra now at a technical level Hydra will use state channels as a second layer scaling solution for the Cardano blockchain thus the state channels will in essence shard Cardano without actually sharding Cardano ledger itself hydra will be built on top of the stake pools in Cardano and each pool operator will thus be able to operate their own state channel or hydra head if you will now at this time simulations are showing that each Hydra head can handle around 1,000 transactions per second so if for example we have a thousand stake pool search handling around a thousand transactions per second then Cardano could theoretically achieve a throughput as high as 1 million transactions per second no you read that correct 1 million transactions per second. Hydra has been in the works for five years and will serve as a key piece of the card ah no proof of stake protocol this is definitely small some stuff, we will really start seeing some of the awesome things that Cardano is actually capable of and I think it’s gonna surprise a lot of people.

India’s central bank plans to fight the Supreme Court crypto ruling

India’s central bank plans to fight the Supreme Court crypto ruling which as we all know overturned their ban on banks being able to provide services to crypto exchanges and for regular people being able to deposit Fiat to be able to buy Bitcoin in the first place central bank’s man can’t trust them as far as you can throw them and they’re pretty heavy what a great example of just how governments are just anti human organizations only focused on their own sociopathic mechanisms of Dominion and monopoly governments man anyway so the stated reason for why the RBI will lodge a review petition over the court ruling is that the bringing back of crypto trading could pose a risk to the banking system and this was cited as the primary reason behind the central bank’s response to what the Supreme Court said and you know yeah they’re kind of right crypto indeed erode their authority it erodes their monopoly on power and this is a good thing for people it does pose a risk to the banking system.Indians like everyone everywhere want freedom of Finance let us hope that the court upholds its decision and actually lets the free access to crypto currency continue in India we do not need more limbo for the crypto markets in one of the world’s biggest markets.

Bitcoin Price fell below $9,000

bitcoin price drop

This week Bitcoin price continue to fall, the price fell 4.4% Friday, droppng below $9,000, lowest in last week.

Market experts belived it’s mainly due to the lack of positive market drivers and speculation that the U.S. Federal Reserve might pause this year’s
rate-cutting cycle, which could curb demand for the cryptocurrency as a potential inflation hedge.

The price dropped to $8,800 as of 18:57 UTC (1:57 p.m. New York time), according to Trading View. It’s still
more than double where bitcoin was at the start of the year, leaving the cryptocurrency as one of the world’s best-performing asset classes in 2019.

Bitcoin had rallied more $2,000 in late October after Chinese President Xi Jinping declared that the country would embrace blockchain –
the decentralized computing networks underpinning cryptocurrencies – as a “core” technology, followed by the reveal of hundreds of blockchain projects already in motion. Since then, though, the price had mostly fluctuated within a range between $9,100 and $9,600.

The world’s most prominent crypto currency Bitcoin fell to as little as $8,666.39 around 10 a.m. EDT, having lost nearly 6% of its value in less than 24 hours, CoinDesk data shows.

At this point, the cryptocurrency was trading at its lowest since October 25, additional CoinDesk figures reveal.

Following this decline, bitcoin has experienced only modest gains, rising from its intra-day low to nearly $8,900 around 5 p.m. EDT.

The Friday’s price drop accelerated after bitcoin currency broke below its 200 day moving trading average of $9,186, which had been seen as a price support by some traders using technical analysis.

“This is a pretty classic example of a technical move,” said Kevin Kelly, co-founder at Delphi Digital, a cryptocurrency research firm in New York.
“It just sort of broke to the downside.”

The price drop appears to have triggered margin calls for some traders, leading to position liquidations and creating additional selling pressure, Kelly said.

One of the macro-economic theory for buying bitcoin is that, it’s like gold, and can be used as an inflation hedge, Kelly said. But with increasing signs
that the economy might be responding to the Fed’s three interest-rate cuts earlier this year, speculation is mounting that the U.S. central bank might refrain
in the near term from further moves to ease monetary policy, he said.

John Todaro, director of digital currency research for TradeBlock, offered a similar point of view.

“Bitcoin, and the digital currency market in general, posted a strong rally following the Chinese President’s comments in October, and you are starting to see prices come back some as investors tease out the actual implications of his comments,” he stated.

“It is still unclear to the extent, if any, China will actually embrace digital currencies and non-sovereign assets such as bitcoin or if the country is simply embracing private blockchains.”

Going forward, he emphasized that bitcoin’s lackluster trading activity makes it vulnerable to notable price fluctuations.

“Bitcoin has seen renewed volatility over the past 10 days and could easily push past support/resistance levels during times with thinly traded markets.”

While many traders thought bitcoin, as the original blockchain and biggest digital asset by market value, might benefit from broader adoption of the technology, if China has been at work developing a digital version of its own currency, it could be a win for blockchain technology on the whole but mean little for bitcoin today.