Connect with us

Blogs

Did Vitalik Buterin Make Ethereum Crash Further?

Published

on

Ethereum crash
READ LATER - DOWNLOAD THIS POST AS PDF

The writing is on the wall that we are in a bear market. The crypto community is aware that for there to be some sort of relief from the current decline, there needs to be some good news not only from Wall Street but from the founders of some of our favorite projects.

Vitalik Buterin happens to be the co-founder of one of Ethereum and his latest comments have not gone over well. Matter of fact, some are saying that he has made the Ethereum crash worse. Some have simply disagreed with him.

Going back to the crypto market, all has not been well since it peaked back in late December to early January. Regulatory fears caused a total capitulation of most crypto traders from Japan, South Korea, and China. Fast forward to the month of September where the crypto community is waiting for the SEC to rule on the CBOE sponsored Bitcoin ETF. Such tension has culminated in a very shaky market as can be seen when with the fake news that Goldman Sachs was shelving plans for a BTC and Crypto trading desk.

To add insult to injury, Vitalik Buterin – in a September 8th interview – told Bloomberg that we are on the cusp of a blockchain ceiling and that the days of 1,000-times growth are behind us. His exact words were:

“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”

He also added that the strategy of getting crypto adopted through marketing is hitting a dead end. What needs to be done, is more people getting involved in crypto in a more in-depth way where people are more interested in real applications of real economic activity.

Comments Were Ill-Timed

As much as Vitalik’s words are true from a technical point of view, given the current bear market, such words are not what investors and HODLers want to hear. More so, if the said investor is more interested in crypto from a financial angle of profits rather than from the technology part as many enthusiasts are.

What then probably happened, is that the believers of Ethereum watched as their favorite digital asset took a massive hit as the more profit-oriented investors took off. This is more or less what happened when Elon Musk was reported to be smoking marijuana and drinking whiskey during a podcast. The value of Tesla’s stock dipped instantly and there are rumors the American air-force wants to investigate his company: Space X.

Summing it all up, and what we are trying to say, is that the comments from Vitalik Buterin were correct from a technical point of view but ill-timed in a bear market. ETH is currently struggling to get back to levels above $200 with many predicting that it might get worse before it gets better for the digital asset. This might be so with a pending decision at the SEC for the CBOE sponsored Bitcoin ETF. If they were to reject or postpone the ETF, the crypto markets would be affected negatively by some degree.

For the latest cryptocurrency news, join our Telegram!

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 Pexels

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

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

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

Continue Reading

Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

Published

on

crypto credit cards
READ LATER - DOWNLOAD THIS POST AS PDF

It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

Continue Reading

Elite