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Which Countries Embrace The Crypto & Blockchain Technology

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Blockchain began in 2013 and reached its all-time high in 2017. Blockchain is seen as the most important form of technology because without it bitcoin is unable to function. Blockchain has contracts within its system and data exchanges of which are presented in a cryptographic form. Bitcoin, as well as other cryptocurrencies, make up only one application to blockchain. The International Monetary Fund has even begun exploring ways to make use of the blockchain technology in terms of their own trading as well as special drawing rights. The blockchain innovation is being led by some surprising countries such as:

Dubai:

Dubai has been aiming to become the forefront of blockchain with their goal to implement 20 blockchain initiatives in 2018. The Dubai government supports the modernization of applying blockchain services in several sectors.

United Kingdom:

Since as early as 2016 the UK government had strategies to make use of blockchain in order to reduce the rate of fraud and corruption. Innovate UK, which is the UKs technology development agency provided £248K GBP towards the blockchain startup to develop a world-wide solution for financial transactions. This type of behavior has encouraged online gambling technology providers like FunFair to embrace the technology.

Japan:

In Japan theres a person or group of people who are seen as the founding members of the development of a protocol of cryptocurrency and that they developed the original software where the blockchain code was applied. Japan is the only country which has been able to implement a system capable of adapting to cryptocurrency transactions.

With regards to cryptocurrency, we usually think of Bitcoin. It is the most popular type of cryptocurrency which enables financial transactions between people without a middleman. In countries all over the world, different governments apply different approaches of implementing cryptocurrencies. Bitcoin has created not only lower costs for the use of financial services but also has created a more efficient system. Bitcoin is owned by people and not by companies or government thus provides owners with more control and freedom which is more beneficial to them. Many countries have started to adapt and implement the ground-breaking technology that is bitcoin, such as:

United States:

The US consists of the most people in the world who use cryptocurrency and in terms of the number of people trading bitcoin. The US is seen as having a supreme financial status therefore many nations look to them for guidance in terms of cryptocurrency. They also have the highest number of Bitcoin ATMs and Bitcoin trading volumes internationally.

Chile:

In 2015 the Chile citizens were able to purchase Bitcoin with pesos through funding from the Chilean government. The Chilean government had goals to convert their country into a modern and entrepreneurial nation.

Italy:

In Italy tax authorities have adopted Bitcoin as a form of financial exchange. Sales that are paid for through Bitcoin are exempted from Vat. Italian tax authorities charge income tax on Bitcoin based on the manner that it was used.

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 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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3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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