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Bitcoin Cash Still Facing Decline after CNBC Feature

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Bitcoin Cash

In the confusing world of Cryptocurrency markets, it is no surprise to find successful cryptocurrencies taking the tumble. Such is the case for Bitcoin Cash, a major Cryptocurrency that has taken almost a 10% dip in its value over the past week. This comes as a surprise to many, as Bitcoin Cash got featured on a news segment on CNBC recently, which was expected to improve Bitcoin Cash’s position.

Currently, Bitcoin Cash is placed in rank 4, according to coin market cap, with a market cap of $17,850,964,631 USD at the time of writing with a circulating supply of 17143125 BCH tokens. Currently, Bitcoin Cash has declined further with a major bearish trend line forming with resistance at $1.160 (taken from the data feed of Kraken). As of 23/05/2018, Bitcoin Cash is valued at $1.040.10 following two massive dips from a high of $1,301.55 on 21st May to $1,233.70 USD on May 22nd. As mentioned before, this comes as a surprise to many, as the global cryptocurrency market fared much better comparatively, losing only 5.7% of its value compared to Bitcoin Cash’s 10%. Analysts are still not convinced about the exact factors responsible for this.

Bitcoin Cash in the News Last Week

Many High profile Crypto-personalities have shown their distrust towards Bitcoin Cash following its erratic behavior. Co-founder and CEO of CryptoCompare, Charles Hayter has called it “all standard noise”, while Jeff Koyen, CEO of 360 Blockchain  USA called it one of the most controversial coins in the crypto space, second to Ripple. Marshal Swatt of Swatt Exchange, however, has predicted that the decline of Bitcoin Cash may be attributed to the recent Bitcoin Cash miners meet, where a proposal for rewarding developers have been discussed. Many other market influencers have also been discouraging traders and adding to the negative sentiment around the coin, which caused even further decline.

CNBC’s Bitcoin Cash Feature

On 22nd May, cryptocurrencies were once again featured on CNBC’s Fast Money, with Bitcoin Cash being the focus this week. Brian Kelly, founder and CEO of BKCM LLC was asked to give a detailed analysis of why he has a bullish stance on Bitcoin Cash. Kelly described to his audiences what he called “catalyst factors” which are the main driving force behind a digital asset.  Among the factors he mentioned was the aforementioned mining community meet, citing that this latest development would a value booster. In an unexpected turn of events, however, the segment generated a lot of negative sentiment inside the crypto-community, with many accusing CNBC of “shilling” the currency and suspected collaboration. Many analysts think that the negative backlash from this segment further negatively affected Bitcoin Cash’s value over the weekend.

Final Thoughts

Like with most cryptocurrencies, nothing can be predicted with certainty about future price movements. As Mr. Kelly put it, it all boils down to how the market behaves. Indeed past trends have indicated a similar fate for Bitcoin Cash. Experts noted that the situation is very similar to the incredible highs experienced by most cryptocurrencies in late 2017, followed by a massive price slump at the beginning of the year.

In spite of the hurdles faced by Bitcoin Cash at the moment, it is to be noted that Bitcoin Cash has succeeded in the past where many other digital currencies failed. Bitcoin Cash is probably one of the handful of Bitcoin forks that have gained widespread attention and usage. This can be evidenced by Bitcoin Cash’s performance since its launch back in August 2017. According to coin market cap, Bitcoin Cash has held its position in the top ten cryptocurrencies despite price slumps and market movements.  Thus, even though situations look bleak presently, the coin is expected to once again rise in value and regain some of its former glory.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or 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.

Image courtesy of SouthernWI via Flickr

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

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 like Bitcoin and Dash, to help protect their assets and hard-earned…

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