Connect with us

Blockchain

Bitcoin IRA Recently Offered a New Gold and Crypto Seminar

Published

on

August 6 saw Los Angeles-based Bitcoin IRA offering a seminar that showed viewers how they could uncover the price patterns of both bitcoin and gold.

Bitcoin IRA Brings Gold and BTC Together

This is likely the stuff of intrigue for many crypto advocates throughout the world right about now considering both bitcoin and gold appear to be shifting into bullish territory at the same time. One could almost make the argument that the two are more correlated now than bitcoin and the stock market.

Bitcoin has shot up by more than $2,000 in the last few weeks. At the time of writing, it is currently trading for roughly $11,700, which is about $100-$200 more than where it stood just 24 hours ago. Gold, on the other hand, has really impressed investors with its spike to $2,000 per ounce. At one time, the currency was nearing the $2,100 position, which means the trend has died down a bit, but gold is still higher than it’s ever been, and both assets seem to be channeling each other’s positive energy.

The webinar offered thoughts and ideas regarding what could potentially be pushing both assets across the bullish planes. It also featured top-of-the-line speakers including Chris Kline, the COO and co-founder of Bitcoin IRA, and Diego Vinals, the senior vice president of the company. The event occurred at 8pm EST on August 6 and lasted for roughly half an hour.

Among the key topics discussed included how the present debt levels of the United States are driving the price of bitcoin up; inflation and why it’s much higher than originally anticipated; how to add crypto and gold to one’s retirement account, and where both assets are likely to go from here. The event finished with a question-and-answer segment in which viewers could pose their own thoughts and potentially receive additional information from the speakers or persons in charge.

Bitcoin IRA should potentially consider changing its name to “Bitcoin and Gold” IRA considering this is not the first time that the company has pledged support for the precious metal. In early May, the company published an e-book that specifically touted gold and expressed the importance behind one of the world’s leading assets.

Why Gold Is Such an Important Asset

The book explained why it was so important to have gold be part of one’s portfolio, where gold would be in approximately eight years, and how it could potentially protect one’s wealth in the future. In a brief interview, COO Chris Kline offered the following sentiment when it came to gold:

There has never been a better time to reconsider physical gold as part of an individual’s diversified retirement portfolio. We are living in unprecedented times, and gold’s unique attributes may be able to provide a safe haven for investors looking to reduce or diversify their risk.

Tags: , , Source: https://www.livebitcoinnews.com/bitcoin-ira-offered-a-new-gold-and-crypto-seminar/

Blockchain

Optimism For Ethereum as Layer 2 Testnet Gets Launched: What Does It Mean?

Published

on

Layer 2 scaling developers at the Plasma Group have recently announced the launch of their Optimistic Ethereum testnet, which will be deployed on projects to test much needed scaling solutions.

Essentially, Layer 2 scaling involves taking work off the root chain to process data and transactions faster. The team has built a system called OVM, a fully-featured Ethereum Virtual Machine (EVM) compliant execution environment designed for L2 systems.

The OVM was first tested on Uniswap’s Unipig L2 decentralized exchange launched as a demo in late 2019.

Synthetix The First Guinea Pig

The Optimistic Ethereum testnet will be rolled out in several phases bringing early adopters on gradually so that the team can individually support each project.

On-chain synthetic assets DeFi protocol Synthetix will be the first to trial the scaling solutions offering 200,000 SNX in rewards to their users for participating. The team added that the testnet is currently open for public use, but not yet for public contract deployment as there will be bugs that need ironing out first.

You Might Also Like:

Phase A of the testing will involve airdropped tokens that will allow participants to mint and burn sUSD, the Synthetix native stablecoin, and claim staking rewards. This will be done using the Görli Ethereum testnet.

Phase B will enable deposits and include an airdrop of Layer 1 Görli SNX tokens to participants who can increase their stakes if they perform a deposit. Phase C will allow withdrawals, and participants must complete a successful withdrawal to receive their testnet rewards on the mainnet.

Optimistic Ethereum is the only generalized L2 solution for Ethereum, which means that it does not require specific functionality to be built to support existing L1 protocols.

Synthetix posted a guide for users wanting to take part in the tests, stating;

“This is a huge milestone for Synthetix, Optimistic Ethereum, and indeed the entire Ethereum space.”

Ethereum Fees Update

A week after the digital dust has settled from the Uniswap airdrop and UNI launch, gas fees have fallen back a little. From a high of almost $12 on September 17, the average transaction fee has fallen back to around $2.75, according to Bitinfocharts.

This is still way too high, though, and it is hoped that many more Layer 2 solutions will be deployed to DeFi protocols over the coming months so that they can remain on Ethereum. The ETH 2.0 scaling upgrade is still at least a year away, so efforts such as Optimistic Ethereum could become its savior until then.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited – first 200 sign-ups & exclusive to CryptoPotato).

Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.


Source: https://cryptopotato.com/optimism-for-ethereum-as-layer-2-testnet-gets-launched-what-does-it-mean/

Continue Reading

Blockchain

Bitcoin Soon To $11,000? U.S. Market Futures Opened The Week In Green (Market Watch)

Published

on

Bitcoin has continued to gradually increase in value and even came close to challenging $11,000 earlier today. Adding some impressive gains from altcoins and the total market cap has increased by $10 billion since yesterday’s dip.

Bitcoin Closing Down On $11K?

As reported yesterday, the primary cryptocurrency hovered mostly between $10,650 and $10,750. Shortly after, however, BTC dipped and marked an intraday low of below $10,600.

The price decrease was shortlived, and BTC started increasing. Firstly, the asset returned to its familiar ground of about $10,750 before exploding to its daily high of $10,950. Since then, Bitcoin has retraced slightly to where it trades as of writing these lines.

Moving on, $11,000 remains as the most critical resistance in BTC’s way up. If conquered successfully, the cryptocurrency could head towards $11,200, $11,360, and $11,530 as possible next resistance levels.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView
You Might Also Like:

Bitcoin’s increase could be related once again to the events with the US stock futures. The futures contracts on the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average show about 0.3% gains in overnight futures trading.

Chainlink And Cardano On The Move

Ethereum and Ripple have remained relatively stagnant on a 24-hour scale, as both of them are slightly in the red. ETH trades at about $357, while XRP is at $0.243.

By increasing its value with 3.3%, Bitcoin Cash has widened the gap with Binance Coin (-0.3%) for settling in the 5th spot.

The most impressive gains from the top 10 come from Chainlink and Cardano. LINK has increased by 4.5% to nearly $11. ADA has surged by 7% to above $0,10. As a result, Cardano has overtaken Crypto.com Coin (0.7%) for the 9th position.

Cryptocurrency Market Overview. Source: coin360.com
Cryptocurrency Market Overview. Source: coin360.com

Double-digit price jumps are evident from a few lower-cap altcoins. Arweave leads with a 33% surge, Swipe SXP (27%), CyberVein (15%), and OMG Network (10%) follow.

In contrast, ABBC Coin has lost the most value (-18%). The Midas Touch Gold (-10%), Yearn.Finance (-9%), and DFI.Money (-9%) are next.

Nevertheless, the cryptocurrency market cap has increased to almost $350 billion after bottoming at $340 billion yesterday.

Crypto Market Cap. Source: CoinMarketCap
Crypto Market Cap. Source: CoinMarketCap
SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited – first 200 sign-ups & exclusive to CryptoPotato).

Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-soon-to-11000-u-s-market-futures-opened-the-week-in-green-market-watch/

Continue Reading

Blockchain

Grayscale Buys Another $186 Million in Bitcoin: Approaching $6B Crypto Assets Under Management

Published

on

Grayscale has enlarged its Bitcoin Trust, as 17,100 BTC were added to Grayscale’s funds at current prices, as the investment is worth approximately $186 million.

grayscale_sep28
Grayscale BTC Trust. Data by Bybt

Crypto AUM Approaches $6 Billion

The total assets under management (AUM) for all Grayscale Investments crypto funds totaled $5.8 billion according to its last market report for the week ending September 25.

The Bitcoin Trust, or GBTC, is by far the largest fund, containing 82.75% of the total investment, or $4.8 billion. Following that is the Ethereum Trust, which has almost $784 million invested, or 13.5% of the total.

The rest is divided into smaller funds for Bitcoin Cash, Ethereum Classic, Litecoin, XRP, Zcash, and a couple more.

Grayscale buys shares for its investors so that they do not have any direct exposure to the underlying asset. Its BTC shares are currently trading at $11.23, and the Bitcoin holdings per share are up almost 46% so far this year.

You Might Also Like:

The move signifies continued institutional interest in Bitcoin and crypto assets despite having corrected almost 20% since its peak this year. Grayscale also stated that there would be a huge wealth transfer over the next quarter-century, and the younger generation is interested in Bitcoin and crypto;

“$68 trillion will be transferred from older generations to younger generations over the next 25 years. It’s time to pay attention to the behaviors of the next generation of investors.”

Bitcoin Closes Bullish on The Weekly Candle

The weekend has seen Bitcoin grind slowly higher again in an attempt to reclaim the psychological $11K price level.

Analyst Josh Rager has observed the weekly candle close, adding that Bitcoin has up-trended for the third week in a row and remains bullish.

A retest of the monthly high is also a sign that there are more buyers than sellers at the moment though the next level is critical, and BTC must hold the $11k zone to register further gains.

The $150 million KuCoin hack did not cause any significant sell-off over the weekend, which is a testament to how resilient cryptocurrency markets have become to such incidents.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited – first 200 sign-ups & exclusive to CryptoPotato).

Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.


Source: https://cryptopotato.com/grayscale-buys-another-186-million-in-bitcoin-approaching-6b-crypto-assets-under-management/

Continue Reading

Trending