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Bitcoin Gold Surges Past The $300 Mark Once Again

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Bitcoin Gold
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The past two weeks have been characterized by a lot of volatility for Bitcoin cash with prices recently hitting highs above $17,000 and it looks like the gains in the cryptocurrency have also trickled down to Bitcoin Gold.

The price of Bitcoin Gold surged past the $250 mark on Monday, and it reached $254.79 marking an 11 percent rise within a 24-hour period. In fact, the price has been rising steadily since then and was at $317 at the time this piece was compiled. This is good news considering that the currency had previously been on a decline for the past 7 days, dropping from $326 to $200. The decline was rather surprising considering that it is a spinoff of Bitcoin Cash that is in the altcoin category.

Bitcoin Gold Chart courtesy of coinmarketcap.com

The recent surge demonstrated by Bitcoin Gold highlights the fact that the currency has not favored an uptrend as steep as Bitcoin cash itself. The altcoin had initially been hyped up a lot but then it was characterized by a sharp decline. However, it now seems to be making a recovery courtesy of the surge within the last few days. However, it still has a long way to go before the price can reach the previous high or even go beyond that.

The massive surge in bitcoin cash value over the past few days has been quite impressive and it seems that other cryptocurrencies are also following the same trend. The recovery of Bitcoin Gold might be influenced by the huge uptrend seen in Bitcoin Gold just as is the case with most of the other Altcoins. This, however, raises the question of how the altcoin will perform on itself for example if the price of Bitcoin Cash tumbles or achieves goes flat. This is especially considering that Bitcoin Gold does not have any unique aspects or special use that can set it apart from other altcoins in the market.

The altcoin also happens to be miles behind Bitcoin Cash whose current value is multiple times higher. Bitcoin cash is however among the top ten most valuable cryptocurrencies and it has recently been boasting of a significant trading volume more than $240 million.

Unfortunately, Bitcoin Gold is currently not very strong and is subject to sharp declines every time it shows even the slightest evidence of price weakness. This is because supply and demand have a significant influence on the performance of cryptocurrencies. Altcoins specifically tend to be very fragile as far as value is concerned. It is also important to keep in mind that cryptocurrencies are not influenced by the same forces that affect regular markets.

Cryptocurrencies as a whole remain difficult to predict and thus there is a lot of uncertainty about the future performance of cryptocurrencies in general.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Marco Verch via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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