Connect with us

Blockchain

Blockpass’ Digital Certificate Service for COVID-19 Testing

Published

on

Unfortunately, we find ourselves in a world of the coronavirus where business, organizations, events and social groups need to determine whether individuals are COVID-19 free to mitigate the risk to employees, members and attendees.

Blockpass has a fast, efficient and private digital identity solution for onboarding individuals to a COVID-19 testing service, privately and securely. This will allow individuals to store, control and update their passed test credentials for dissemination to businesses, organizations, groups and events. Read more here

Source: http://allcoinsnews.com/2020/04/17/blockpass-digital-certificate-service-for-covid-19-testing/

Blockchain

Bitcoin Rising Correlation With Traditional Market Undermines ‘Non-Related Asset’ Narrative

Published

on

advertisement


Despite the fact that Bitcoin has been long-touted as a “non-correlated asset”, there have been many instances when the largest cryptocurrency behaved similarly to the mainstream market.

Advertisement

Fastpay

Altcoins undergoing another major pullback was occasioned with occurs not as drop significantly in the traditional markets and additionally in gold’s price which took a massive hit as markets opened. Amid rising fears of the pandemic, the US Stock market fell to a 2-months low with the Dow Jones Industrial Average dropping over 700 points in the afternoon trading sessions.

Santiment’s tweet read,

“As has been the case since Black Thursday, the correlation between the US stock markets & gold, and BTC, ETH, and rest of the crypto markets has been much higher now than any year in crypto’s history.”

Additionally, data from Skew shows that the one-year realized correlation between Bitcoin and S&P 500 reached 52.9%.

Source: Skew

Commenting on the latest price movement, popular Podcaster, Lark Davis tweeted,

“Historically the S&P 500 has done poorly in September, and quite badly in October of election years. Bitcoin’s high correlation to the equity markets could mean that we are in for some big bumps over the next 6 weeks. GOOD NEWS is that November is usually a strong month.”

Besides, the one-year realized correlation between Bitcoin and Gold was also hovering a little below its ATH. Notably, prior to 2018, the Bitcoin-Gold correlation was negative and hence the narrative was mostly dismissed. Similar was the case with other tech stocks or stock indices such as VIX. The recent trend could also potentially signal to the point Bitcoin has slowly evolved into a mainstream asset over the last two years and hence its correlations with non-crypto assets are important to gauge its price movement in the coming days.

The coronavirus crisis has impacted every industry, from tourism to real estate, health care to manufacturing and the cryptocurrency industry is not exempt. While Bitcoin did start with an impressive streak in the first quarter of 2020, it hit a snag as the pandemic’s economic blow quickly affected all markets. Similar to the traditional market, the collective crypto market crashed by more than 50% from its February high.


To get the daily price analysis, Follow us on TradingView

Author: Ketaki Dixit




Experienced writer and editor with a demonstrated history of working in the industry. Skilled in Copywriting, Web Content Writing, Copy Editing, Writing, Cryptocurrency News Writing, and News Editing.

Source: https://coingape.com/bitcoin-rising-correlation-traditional-market-undermines-non-related-asset-narrative/

Continue Reading

Blockchain

World’s First Bitcoin ETF Approved with Expected Launch in Bermuda by End of Year

Published

on

The first-ever Bitcoin ETF will be launched on the Bermuda Stock Exchange (BSX) by Hashdex, a regulated Brazilian fund manager, and Nasdaq after garnering approval for the “Hashdex Nasdaq Crypto Index” four days ago.

The news continues Bermuda’s legacy of being a crypto-friendly offshore international business and financial center.

Three million Class E shares will be issued for trading and the exchange-traded fund is expected to go live by the end of 2020.

Hashdex currently boasts $46.4 in assets under management across four funds and uses Xapo, Kingdom Trust, and Vo1t for services relating to crypto custody. KPMG is the firm’s auditor.

‘When Bitcoin ETF?’

For years now, many Bitcoin proponents and cryptocurrency enthusiasts have been asking the question “when Bitcoin ETF?” While one is officially on the way for the Bermuda Stock Exchange, the prospect of such a regulated, insured, and institutional-focused vehicle for BTC exposure appearing on exchanges in the United States appears grim.

You Might Also Like:

Bids from various parties — such as the Winklevoss twins, VanEck, SolidX, and Wilshire Pheonix — have all been rejected by the U.S. Securities and Exchange Commission or pulled by the applicants. The securities regulator has frequently claimed that applicants failed to provide enough evidence that the BTC market is resistant to manipulation.

Speaking on the matter was the SEC’s Chair, Jay Clayton, who said that a Bitcoin ETF in the US is possible, but there’s a lot of work to be done.

‘Biggest Front-Running Opportunity of Your Life’

However, former Goldman Sachs executive and well-known fund manager Raoul Pal believes that a Bitcoin ETF is coming to the U.S. very soon. He recently stated:

“I’m going to give you the biggest front-running opportunity of your life: they will get an ETF across the line. There will be billions of dollars that pour into it. Every pension plan will allocate some money to it. Every family office will allocate some money to it. And the more the price goes up, the more they will allocate.”

Whether or not Pal’s prediction comes to fruition remains to be seen. However, it stands to reason that the SEC is objectively aware of the BTC market’s continued maturation and correlation to the equities markets. As such, it may take a more favorable stance as new Bitcoin ETF applications come across its desks.

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/worlds-first-bitcoin-etf-approved-with-expected-launch-in-bermuda-by-end-of-year/

Continue Reading

Blockchain

US Binance CEO says companies not adopting crypto are “ignorant.”

Published

on

In an interview with Joe Weisenthal and Tracy Alloway on Bloomberg’s Odd Lots podcast, US Binance CEO Catherine Coley said crypto had the ability to offer “uses beyond speculation” wherein investors could engage in e-commerce transactions, drive new businesses, and other real-world applications like mortgages. She said, “If you’re building a company in the next five years and you do not consider digital assets as a component, you’re ignorantly going into this. It’s an adoption case that is pandemic resilient.” Crypto-related startup stories have become more frequent this year. 

“Companies should take their cues from cryptocurrency.”

Catherine Coley, the CEO of crypto exchange Binance’s United States branch, said that in the future, companies should take their cues from cryptocurrency, which has made conversations about money more convenient for the average person but also more accessible to professionals in traditional finance. The crypto industry is an industry that is reaching a significantly different audience than finance,” said Coley. “I’ve been able to stay off the streets because of crypto, and there is so much benefit in that, that people underestimate,” she added. 

Binance launches its crypto debit card. 

Crypto exchange giant Binance revealed that its Binance Visa Card is now available for use throughout the European Economic Areas earlier this month. The rollout was initially announced in July this year. Crypto cards allow users to preload their accounts using supported digital currencies, which are then converted to fiat and deducted from the balance during the time of payment at a retail location. In Binance’s case, the money is taken directly from the user’s trading account. Binance card, powered by Swipe, works like your traditional debit card. But instead of fiat, you’ll be holding digital assets, such as BTC, BNB, SXP, and BUSD. 

Source: https://coinnounce.com/us-binance-ceo-says-companies-not-adopting-crypto-are-ignorant/

Continue Reading

Trending