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Why Bitcoin (BTC) Continues Its Nosedive Towards $3,000

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It has been over ten days since the Bitcoin Cash hard fork and the start of hash wars and the Bitcoin ecosystem is still not showing signs of recovery. In fact, BTC continues to drop even more, and its price is currently $2,400 lower than it was 12 days ago. As usual, with Bitcoin being the ringleader, most altcoins are expressing the same behavior, and are reaching new lows.

While there are probably other reasons for the nosedive, such as attempting to avoid having to pay huge taxes on crypto, experts agree that the hard fork is still the biggest cause of these issues. The conflict behind this event is already well known — two parties in BCH community had different views on the future of the entire project. After months of failed negotiations, the date of the upgrade arrived, and the hash war started, after two blockchains emerged from the hard fork.

Due to the fact that blockchain is extremely unstable during such events, and pretty much anything can happen to it, most exchanges decided to pause BCH trading until the chain is stabilized. After the fork, two blockchains emerged — BCH ABC and BCH SV, and a lot of exchanges remained confused regarding what to do.

Nobody knew which coin will end up being a dominating version of BCH, and so they listed either both or none. The conflict between the blockchains continued in hash wars, with a significant amount of hash power being taken away from Bitcoin itself, so that BCH can use it. As a result, BTC price started spiraling down, and the rest of the market followed, as mentioned earlier.

Trading volume for altcoins increases

Despite the fact that everyone (including both sides) is losing due to this situation, it is still important for one of them to establish dominance. Because of this, both are furiously mining blocks in an attempt to win. However, this situation has now grown to include an entire week, and everyone is getting impatient. BCH is still unable to be traded on most exchanges, and this includes both versions of it.

The damage to the BTC ecosystem has caused a lot of volatility in the entire crypto market. While volatility itself is not good, many have seemingly managed to make the best of the situation. This conclusion came from exchanges’ reports, where many of them claim that trading volumes for other altcoins have spiked in the last week.

Even so, BTC is still losing its value although the drop has slowed down once the coin fell below $4,000. Nobody knows when will this drop end, or how much damage will the market have to endure. So far, Bitcoin’s own market cap has been cut in half, and is currently at $68.8 billion, while the total crypto market cap lost around $100 billion. The possibility of a bull run still exists according to experts, but this possibility is getting smaller with each passing day.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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New Tendencies of Bitcoin Gambling

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Gambling has always been an integral part of human nature. Nothing is sweeter than the money you win, and that’s why wagering games have always captivated people throughout history. Last couple of decades saw the gamblers switch increasingly towards virtual gaming, instead of physically being inside a casino. The popularization of online casinos led to the integration of Bitcoin Gambling into the systems and today a very large share of the casino industry is based on the virtual currency.

Reasons behind the transition

The tendency to switch from classic casino environment was dictated by the fact of mobility and accessibility. But the new age has brought us cryptocurrencies like Bitcoin that revolutionized the gambling business. From now on, the gamblers of the world don’t have to rely on traditional banking transactions to be able to enjoy themselves online. A simple crypto-wallet and ownership of virtual currency is enough to engage in Bitcoin Gambling.

Bitcoin Gambling and Blockchain Technology

The big reason for the heavy shift towards Bitcoin Gambling is the fact that Bitcoin and other cryptocurrencies are based on the blockchain technology. This means that the process is decentralized, resulting in a much faster speed of transactions, when it comes to depositing or withdrawal of funds in or from the casino accounts. It also makes gambling incredibly secure,…

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Bitcoin will return to the bear market? Bex500 senior investor teaches you how to get profit in the Bear market

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—— Don’t forget to join Bex500 bonus program at the bottom of the article.

Since September, the Bitcoin price has been decline from beyond $10000 to below the $8000, which 20% of the bitcoin value has been removed. The collapse of bitcoin price brings about the new panic in the bitcoin trading market. Many bitcoin investors are scared of the returning bear market as the early of this year. On the contrary, some of the bitcoin-believer, especially the investor who brought Bitcoin in the height of the price still thought that the bitcoin price will rebound very soon. However, it is no doubt that the early stage of the bear market has been shown up in the past month. Many crypto analysts start to predict the bottom price of this market movement.

However, as the market developed, crypto traders have detected more tools to safely pass through the bear market. They realized more ways to avoid the loss of the price decline; moreover, they began to earn profit from the bear market. The key to the tools is the bitcoin futures contracts. We are honored to make an interview with Bex500 senior investor Tom Beck and he introduces the details about bitcoin futures contracts. (Reporter=R, Tom Beck=T)

R: Hi, Tom, Thank you for accepting our interview, Could you introduce yourself?

T: Sure, My name is Tom, I have over…

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