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Payger at Blockchain For Finance Conference 2018

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  I attended this year’s Blockchain For Finance 2018 event in Dublin’s Aviva Stadium, and on the Monday ahead of the conference, Dogpatch Labs hosted a pre-conference pitch session, and Founder and CEO Christoph Hering did a talk to the crowd of about 60 people in attendance on their payments & communication app Payger. The app combines an e-commerce solution, cryptocurrency wallet and chat app into one, and uses stablecoins on a blockchain. It’s core offering is enabling consumers and businesses to connect peer-to-peer to send money and messages and buy products and services. It’s hooked up to a marketplace Source: https://bitcoinsinireland.com/payger-at-blockchain-for-finance-conference-2018/

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6 Reasons it’s Worth Taking the Risk of Investing in Cryptocurrency

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When it comes to cryptocurrencies, which have been continuously raging for the past few years, many people are eager to make investments in the crypto sector and reap great benefits from it. But despite its huge prominence, the crypto industry is also known for its volatile nature, making it a risky business sphere for many investors.
So, is it worth investing in the crypto business? Why one should consider investing in it? What are its benefits? And what is the future of cryptocurrencies?
In order to find out the answers, you need to look at this article where the experts at a prominent cryptocurrency wallet development company have listed some good reasons –

Why Investing in the Crypto Business is a Worth Taking Risk?

Since the inception of Bitcoin, cryptocurrencies have been consistently booming, talk of the town for the last decade. However, a big number of investors still look at them with caution. Of course, investing in cryptocurrency is risky – just like any other investment which has high potential returns, but there are some crystal clear benefits, which are listed below by a leading cryptocurrency development company. Have a look:

  • Huge Potential Returns on Investments

First thing first – cryptocurrencies have been around for merely a decade, but are pronounced to be much more profitable than most of the other investments. They tend to show wide changes in their prices but still have huge potential returns. For example, the average return you can expect from your initial capital for Bitcoin is over 860%. Isn’t that fantastic? .

  • High Liquidity to Sell and Buy Assets

One particular attribute that makes crypto worth its investment is its high liquidity. Unlike any other investment where your capital can be locked up for years, you can buy or sell cryptocurrencies on the fly. Cryptocurrency development services and trading platforms use an array of tools and tactics to maintain the liquidity of the business. Thus, you won’t feel like you’re stuck to purchase or sell an asset.

  •  No Central Authority

One of the most notable benefits of investing in cryptocurrencies is that your money remains yours alone. This means you have a great level of independence that no other form of currency or system can provide. For instance, if you keep your money in a bank account, your access can be denied at any moment by the central authority such as governments. Also, banks can be robbed and can go bankrupt. But this is not the case with cryptocurrencies. No need to rely on financial institutions for holding or transferring your money. Speaking in the long run, this independence becomes the basis of a decentralized economy.

  •  Heightened Transparency in the Business

Most of the cryptocurrencies are transparent in nature with their undertakings. They provide ample information in their whitepaper including the roadmap, team members, regulations, technologies, etc. On top of being a transparent form of currency, cryptocurrencies also come with the boon of having a highly secure characteristic. This leads us to the next significant reason for investing in cryptocurrencies.

  •  Blockchain-Enabled Currencies

The world has evolved in terms of technological advancements. Its biggest testament is the incorporation of blockchain technology in cryptocurrencies. Just because of the immutable blockchain technology, cryptocurrencies are highly secure, transparent, and decentralized. Both are in for the long game and will give us more real-world applications like cryptocurrency wallet development services in the days to come.

  •  Cryptocurrencies are the Future

Chances are very high that you will certainly use cryptocurrencies in the future if you haven’t used one yet. Why? Well, because more and more people are getting involved in the crypto industry, popping up in diverse domains of business. Additionally, due to the economic slowdown caused by the COVID-19 pandemic, people have started to realize that shifting from stocks to cryptos could be a very fruitful idea for them. Thus, it is quite safe to state that cryptocurrencies will be a viable currency in the future.


Concluding Thoughts

You see, cryptocurrencies carry an immense potential to create a new payment system as well as an investment source worldwide. Same as other potentially high-return investments, cryptocurrencies come with some particular risks – but believe me, the degree of independence they offer is above every flaw. Crypto is for the people who have the courage to stop thinking about the risks and start achieving great heights by making investments.

So, if you can afford it – don’t be afraid to invest in crypto now. Sooner or later it is going to transform the way we look at the world today.


Summary: Planning to invest in cryptocurrency? Want to know how good this idea is? Have a look at this writing piece where we have discussed 6 good reasons for investing in the crypto business.


AUTHOR BIO: Vin Boris is a Social Media Marketer and Content Writer at SteemExperts.com, a Blockchain and Steem currency based development, consulting, and marketing firm. Vin Boris has been Outshining in Blockchain Tech. the industry for more than 10 years.

 

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First Mover: Bitcoin’s Failure to Break $20K Shows Big Investors Only Just Arriving

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Bitcoin was lower, retreating after rallying over the past 24 hours to a new all-time-high price of $19,920, based on CoinDesk’s Bitcoin Price Index

Cryptocurrency analysts predicted that bullish traders might next target the $20,000 threshold, though the market could struggle to break through if large potential holders choose to take profits at that level. 

The “resistance into $20,000 could be more psychological than anything else,” said Denis Vinokourov, head of research at the digital-asset prime broker Bequant. “It would make sense that once we are finally able to get past this threshold, that the rally has legs.”

In traditional markets, European shares rose, led by banks and energy firms, and U.S. stock futures pointed to a higher open on the first day of the final month of a tumultuous 2020. Gold strengthened 1.2% to $1,798 an ounce. 

Market Moves

All sorts of reasons were cited Monday as bitcoin pushed to a new all-time-high, ranging from PayPal’s recent entry into the space to the collective market shrug in response to the massive outflows from the OKEx cryptocurrency exchange following after a five-month withdrawal suspension was lifted. 

What’s clear is that most analysts, traders and industry executives are talking about the sudden influx of big investors and Wall Street firms nosing into bitcoin and digital-asset markets for the first time. As noted Monday in First Mover, “institutional adoption” has become among the buzziest of buzzwords from bitcoin bulls and marketeers. 

The key driver of their interest appears to be the desire for a hedge against inflation, during a year when the deep economic toll from the coronavirus has prompted the U.S. Federal Reserve and other central banks to pump trillions of dollars of emergency liquidity and monetary stimulus global financial markets.  

“With so much excess liquidity in the system, the original investment case for bitcoin is being vindicated.” Rich Rosenblum, who heads trading at the crypto firm GSR, told CoinDesk’s Daniel Cawrey.
On Monday, just before bitcoin prices began their single-day price climb of 8.3% to end the month, the market was filled with chatter about a new endorsement from an analyst at the $631 billion investment firm AllianceBernstein. (“I have changed my mind about bitcoin.”) Later in the day, CNBC reported that strategists for another Wall Street firm, BTIG, said cryptocurrency had come of age, and that bitcoin should reach $50,000 by the end of next year. 

“The stream of institutions commenting and allocating to BTC became a flood of good news that reinforced the narrative,” Matt Blom, head of sales and trading at the cryptocurrency-focused financial firm Diginex, told subscribers in an email. 

CoinDesk’s Muyao Shen reported that support from institutional investors might help to sustain the latest rally, contrasted with the bull run of 2017 when prices briefly touched these levels before quickly tumbling and then hibernating in a bear market for most of 2018.  

“Broadly speaking, institutional positions and high-net-worth individuals are leading the way this time,” Jason Deane, an analyst at Quantum Economics, told Decrypt.

Another difference from 2017 is that digital-asset markets appear to have evolved dramatically in the past few years and appeared to have handled the recent uptick in intensity and transaction volumes without too many glitches. (The well-trod fiat-to-cryptocurrency on-ramp Coinbase did report delays in processing some bitcoin withdrawals due to network congestion.) 

“The trading, settlement and custody services are all far more sophisticated and mature, which instills confidence,” GSR’s Rosenblum said. 

Major spot exchanges, where retail customers casually buy the world’s oldest cryptocurrency, have seen an uptick. Combined daily volume for Coinbase, Bitstamp, Kraken, Gemini and ItBit was at $1.5 billion as of press time Monday, much higher the $488 million average of the past six months, Cawrey reported.

Jeff Dorman, chief investment officer at Arca Funds, wrote in his weekly blog that some big investors, due to regulatory concerns, might be using futures on U.S. commodities exchanges or publicly-traded investment vehicles in traditional stock markets to gain exposure to bitcoin – instead of just jumping into digital-asset markets. He provided a chart showing how key closures on public U.S. markets over the past week coincided with big swings in 24-hours-a-day, 7-days-a-week cryptocurrency markets.

“The institutions are coming all right, but they are taking the local bus while the rest of us are on the express,” Dorman wrote. 

The upshot is that bitcoin is reaching new all-time-highs when institutional adoption hasn’t even really got going, in the truest sense. 

– Bradley Keoun

dorman

Chart showing hourly price changes in bitcoin from Wednesday through Sunday, with yellow lines denoting when the CME closed and white lines the subsequent open. According to Arca’s Jeff Doramn, the CME was only open for a brief time period and missed both the move down and subsequent move higher.
Source: Arca Funds

Bitcoin Watch

skew_btc_atm_implied_volatility-5-2

Bitcoin’s implied volatility rises to multi-month highs.
Source: Skew.

Bitcoin’s one-month implied volatility has risen to 6.5-month highs, reflecting increased expectations of price turbulence over the next four weeks.

According to data source Skew, the metric influenced by demand for call and put options has increased to 89%, the highest level since May 18, having bottomed out near 44% in September. The doubling of implied volatility has happened alongside bitcoin’s rally from $10,000 to $19,920 and looks to have been caused by relatively higher demand for call options (bullish bets).

That’s evident from the record low one-, three-, and six-month put-call skews, which measure the cost of puts (bearish bets) relative to calls. The options market looks positioned for a continued rally.

Some analysts say a healthy pullback could be in the offing as bitcoin’s inflow to exchanges has exceeded outflows since the Thanksgiving sell-off, according to data source CryptoQuant. “That on-chain metric could indicate a short-term bearish trend, sending bitcoin back to a level of around $16,000,” said Ki Yong Ju, chief executive officer of CryptoQuant.

At press time, bitcoin is trading near $18,800, representing a 4% drop on the day.

– Omkar Godbole

Read More: Google searches for “bitcoin price” hit 18-month high

What’s Hot

  • Ethereum 2.0 Beacon chain goes live as “world computer” begins long-awaited overhaul (CoinDesk
  • Coinbase reported delays processing bitcoin withdrawals on Monday as cryptocurrency’s price move to all-time-high created congestion on blockchain network (CoinDesk
  • Over-the-counter cryptocurrency trading firms report uptick in purchases by institutional investors during latest bitcoin rally (The Block)  
  • While some near-term pricing correction is likely to be expected, analysts who spoke to CoinDesk said bitcoin’s latest rally will be more sustainable for the long term compared with 2017 (CoinDesk)
  • European Central Bank President Lagarde says stablecoins “pose serious risks” to financial security (CoinDesk
  • 100x Group, holding company for embattled cryptocurrency exchange BitMEX, picks former head of German stock exchange as new CEO (CoinDesk
  • Upstart bitcoin exchange LVL, backed by Anthony Pompliano, Jimmy Song and Willy Woo, cuts trading fees to ratchet up competition with Coinbase and Gemini, plans new debit card with Mastercard (CoinDesk
  • Authorities shut off electricity to bitcoin miners in China’s Yunnan province (CoinTelegraph)

Analogs

The latest on the economy and traditional finance

  • “Rather than seeking to create a Chinese-style digital dollar, Joe Biden’s nascent administration should recognize the benefits of integrating Bitcoin into the U.S. financial system,” economic historian Niall Ferguson writes in op-ed (Bloomberg Opinion)  
  • Fed Chair Powell calls economic outlook “extraordinarily uncertain” in prepared remarks ahead of scheduled appearance Tuesday before U.S. Congress (CNBC)
  • China’s new anti-dumping rules on Australian wine could escalate tensions, signal broad effort to tamp down dissent among trading partners (Bloomberg)
  • As coronavirus cases surge in Hong Kong, banks including Goldman Sachs, Standard Chartered, UBS and Citigroup bring back work-from-home policies (Bloomberg)
  • Tech startups are helping to modernize India’s agriculture industry (Nikkei Asia Review)

Tweet of the Day

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Source: https://www.coindesk.com/first-mover-bitcoin-failure-20k-investors-just-arriving

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$550M in Bitcoin Liquidations as Price Falls Below $19,000

After stopping shy of the $20,000 mark, the bitcoin price is currently on the downtrend, almost slipping below $18,000. Over 81,000 Traders Liquidated as Bitcoin Price Sheds $1.6K According to data from crypto derivatives data aggregator bybt, total bitcoin liquidations in the last 24 hours stand at over 30,000 BTC. This figure amounts to roughly … Continued

The post $550M in Bitcoin Liquidations as Price Falls Below $19,000 appeared first on BeInCrypto.

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Over-optimistic bitcoin (BTC) traders have once again been caught by a swift reversal during a bullish phase with more than $550 million in liquidations over the past 24 hours.

After stopping shy of the $20,000 mark, the bitcoin price is currently on the downtrend, almost slipping below $18,000.

Over 81,000 Traders Liquidated as Bitcoin Price Sheds $1.6K

According to data from crypto derivatives data aggregator bybt, total bitcoin liquidations in the last 24 hours stand at over 30,000 BTC. This figure amounts to roughly $550 million.

As bitcoin equaled its all-time high (ATH) on Monday, Nov. 30, profit-taking from traders likely triggered a wall of sell orders. Thus, over-leveraged longs looking to ride Monday’s bullish momentum appear to have been caught unawares again.

Bybt data shows that about 81,500 traders were liquidated in the last 24 hours. The largest single liquidation occurred on the Huobi platform with a trader losing over $6 million.

Data from crypto derivatives analytics provider Coinalyze also shows a significant decline in aggregated open interest (OI) across both crypto and US dollar-denominated contracts.

A reduction in OI points to funds flowing out of the futures market, reinforcing the notion that retail FOMO is ebbing slightly.

On Thanksgiving, over $1.9 billion was also liquidated from the crypto markets as the bitcoin price dipped 11%. The total market capitalization also shed more than $70 billion.

Price Drops Normal in a BTC Bull Market

Historical data points to previous bullish bitcoin advances dotted with between 20-30% price pullbacks. Thus, the current situation is in keeping with the established trend.

Bitcoin setting ascending local price tops in quick succession also reinforces the bullish expectation for the largest crypto by market capitalization. Indeed, November saw Bitcoin’s largest monthly close in US dollar terms, clearing $6,600 within the period.

However, the accelerated nature of the price increase in the last few weeks also offers the likelihood of a steep correction. Any significant interruption of the current bullish streak could see the BTC price reverting to support somewhere in the $13,000 to $14,000 price bands.

Before this current run, the $13,800 proved a multi-year resistance for Bitcoin and is likely the best candidate for a support level if BTC tanks.

Bitcoin proponents will be counting on the influx of institutional money flowing into the space to sustain the current bull market. As previously reported by BeInCrypto, Grayscale Investments recently added 7,300 BTC to its Bitcoin holdings.

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Osato is a reporter at BeInCrypto and Bitcoin believer based in Lagos, Nigeria. When not immersed in the daily happenings in the crypto scene, he can be found watching historical documentaries or trying to beat his Scrabble high score.

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Source: https://beincrypto.com/550m-in-bitcoin-liquidations-as-price-falls-below-19000/

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