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Ethereum, Altcoins and Bitcoin: What’s Happening?

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It’s certainly is a sea of red in the markets. Lord Rothschild famously said to buy when there’s blood in the streets. However, we don’t think that time has come yet. ICOs, which raised money in Ethereum, are dumping their ETH. Most of these ICOs raised when ETH was $800 and higher from between late last year to early this year. The price was pushed further up due to demand created by regular traders who wanted to participate in the ICOs using the most efficient method of ETH. Most ICOs had the conversion rates of their ICO tokens pegged to the value of ETH making it easier for an investor to calculate his buy-in amount of the said tokens.

Now, some of these projects are cashing out to cover expenses that involve project development, operations, marketing and more. This has resulted in the concern we are now seeing of the bear market being dragged out longer than is necessary and with ETH continuing to drop in value.

Biswa Das, who runs cryptocurrency quantitative hedge fund BloomWater Capital, summarized the series of events as follows:

“These startups are raising a lot of funds but they don’t have treasury management or enough cash management experience, so they’re selling too early and causing a lot of pressure in the market. It was fine last year but right now the the market is so fragile that it causes a lot of pressure.”

Is Ethereum going to survive?

The current pressure from ICOs cashing out on their ETH has further put a load on the current crypto bear market. The total market cap has been shaky at levels around $200 Billion with each morning being a puzzle as to whether it will go lower or higher.

With respect to the continued dominance of ETH in the markets and smart contracts industry, more projects are springing up that were ironically funded through the platform. These projects of Tron (TRX) and Zilliqa (ZIL) aim at offering faster, efficient and more cheaper alternative platforms for developers to create DApps. Therefore, the rest of the year could be one of constant decline for Ethereum. As a matter of fact, some Wallstreet firms had already predicted the gradual downfall of ETH and have been shorting the digital asset.

Possible continuation of the bear market

Spencer Bogart of Blockchain Capital LLC is quoted as saying the pain might not be over in the cryptomarkets especially for ETH. ICOs will probably continue to liquidate a large percentage of the over $5 Billion they raised last year and early this year.

Perhaps this is why traders are preferring Bitcoin (BTC) over Ethereum – or any other Alts – during this bear market. What we have seen is that BTC has increased its dominance in the markets from 36% back in mid-May, to its current levels of 53.5% as investors look for a safe haven to ride out the current stormy market.

BTC has proven to be less volatile than Alts and even surpassing the Turkish Lira in terms of market stability. With lots of Wallstreet interest from CBOE and the Intercontinental Exchange with its Bakkt project, BTC might be the wisest option for traders to ride out the bear market.

To trade cryptocurrencies, sign up with BitMex or Binance!

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.

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

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The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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