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Why Bitcoin, Ethereum And Altcoins Are So Weak in 2018

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While Bitcoin has achieved much in less than a decade they have been around, it would seem that this year has been particularly harsh. Even though it is still a large trend, something has caused the crypto world to seemingly lose its momentum. So, today, we will explore what has been bugging cryptos in 2018.

So far, 2018 has been quite an eventful year for cryptos. The market went from its peak to its presumed bottom in a matter of days back in January. Numerous times since then, the stubbornly bearish market hinted at going bullish, only to crash once more, and take everyone’s’ hopes with it.

Hack after hack after hack hit the exchanges, wallets, ICOs, and everything else crypto-related. And, let’s not forget the controversies, accusations, lawsuits, the issue of centralization and decentralization, and the number of altcoins going up to over 1800. According to many experts, it is a miracle that the crypto market is still around at this point. And, while the year has obviously been extremely tough, we should now take a look at some aspects that have made an impact on the situation, for better or for worse.

The capital pool

In order to see the situation regarding the crypto market’s capital pool, let’s start with retail. Retail has developed a large interest in cryptos on several occasions in 2017 and 2018 due to the belief that there is an easy profit to be made. Each time it has happened, the cash flow seemed to help the market a bit, but it never received enough to take off.

Then, there is a controversy about early adoption. Despite the big popularity of ICOs, especially at the beginning of the year, a lot of coins were ruined before they even started due to fear of scams and Ponzi schemes. Nobody was willing to jump the gun, which in the end led to more damage done to the market.

Of course, institutional investors did not help at all. Those against the trend continued to bash it at any given opportunity, and they also have some pretty influential names among them. Pro-crypto institutional investors, on the other hand, while supportive, had to remain careful and hesitant. And, while their contribution is one of the largest sources of cash flow to the crypto space, the amount invested has not been nearly as big as it could have been according to estimations.

The leaks

While the capital pool already suffers due to a lack of trust, security, and a threat of scams and schemes, there are other issues that are constantly draining it.

One of the largest issues is mining inflation. According to statistics, over $30 million worth of cryptos are entering the market every day. That is almost $11 billion on annual basis. While the mining is a necessary part of decentralization, the new coins are definitely helping the bear market, instead of turning it bullish.

The next big issue is taxes. The governments are quickly finding a way to subject cryptos to taxation, which is draining the space even more. Additionally, there are things like leverage and various fees within the exchanges themselves. The exchanges cannot be eliminated since they are needed for coin trading, and until the truly decentralized exchanges emerge, the crypto holders are stuck with these ones.

Finally, there is the so-called demise of altcoins. A lot of these coins suffered greatly from price declines, and have damaged the market even more than it would be damaged without them. Their popularity came from investors who wanted to take advantage of their low price, and when it went up, more people came. Then, the prices went down and pulled all of these investments with them.

For now, it is unknown what the future of cryptos will hold. While many are hoping for a bullish market, there are also those who foresee the disappearance of cryptos. While this will hardly happen, we still have to wait for the proper conditions that would turn the market into a profitable space once more.

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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.

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

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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.

The first of…

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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

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

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