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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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Bitcoin

Trusted Crypto Tumbler To Protect Your Wealth

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Back when Bitcoin originally emerged, over 11 years ago at this point, cryptocurrency transactions were believed to be fully anonymous. This belief stuck around for years to come, but today, we know that, in most cases — this is no longer the truth.

Since the invention of blockchain explorers, it became possible to track every Bitcoin transaction, all the way back to the genesis block. This came as a part of blockchain transparency which promises to eliminate corruption, theft, and other such issues.

However, there is still a need for a certain level of privacy, as people like to keep their wealth to themselves, and not let everyone know how much money they have, or how much they sent for whatever purpose. This is why many are now using crypto tumblers, or mixers.

What do crypto mixers do?

As the name suggests, crypto mixers/tumblers mix up the coins in order to hide/disguise/make it difficult to discover where the coins came from. Things like the amounts, transactions, and wallet addresses to and from which the coins travel are fully traceable, which is why tumblers exist.

In a way, you could say that mixers can add an extra layer of privacy while using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. There are many Bitcoin mixers Continue Reading

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5 Best Places to Bet with Bitcoin

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It seems like BTC is always making headlines for one reason or another.

When the market points towards bullish behavior Bitcoin is all the rage. When there is so much long action (going on right now) and then the price plummets, BTC also dominates the headlines. The same goes for legislation and when any new crypto product or platform comes out. It’s always compared against BTC.

So with BTC fever in full swing, sportsbooks around the world have adopted digital currencies as one of their main forms of funding accounts and paying out winnings. And with sports betting legalized in states across the USA, both BTC and legal online gambling are in the limelight. 

But where are the best places to bet using BTC and other cryptos? Furthermore, why would you want to use BTC, LTC, or Ethereum in this manner?

The Why

The principal reason why you would want to use cryptocurrencies in your ‘sports investing’ ventures is speed, cost, security, and bonuses.

When you use cryptos like BTC (BTX) to move money in and out of your account. You bypass the standard centralized banking system which drastically improves on both the speed of the transaction and the cost of the transaction – this is especially true with payouts. 

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Bitplaza Inc Introducing Cryptocurrency to Retail

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Even though influential companies are not ready to validate cryptocurrencies as a stable form of money, Bitcoin is becoming a more frequently used currency daily. There is a rising number of companies that accept Bitcoin for the purchase of their products, validating it as a spendable currency around the globe.

Bitplaza Inc took the next step into technology and commerce, providing customers with a platform where they can spend Bitcoins for their needs through a mobile device. It opens the opportunity for companies and brands to list their products in exchange for Bitcoin, which will give more credibility to the coin.

What is Bitplaza?

Bitplaza is a shopping app that belongs to a retail company called Bitplaza Inc, located in Pennsylvania. The app is available on both Google Play and the Apple App Store. Bitplaza allows anyone globally to purchase brand new items with Bitcoin. The app has a wide variety of products to buy online, from electronic devices, video games, even groceries. The products that can be purchased from the app range from popular brands such as Sony, Starbucks, Adidas, Apple, and many more. The Bitplaza team is always adding new products to the shopping app, making more items available to be purchased with Bitcoin. The app covers a broad range of products for the different needs of the…

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