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Why Ripple XRP Can Reach $1 Sooner Than You Think

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Ever since Bitcoin (BTC) and Ethereum (ETH) appeared and established dominance, the majority of altcoins have struggled for bare survival. The conditions were rarely crypto-friendly, especially in the previous few years, when cryptos were still unknown and largely mistrusted.

The crypto market was in chaos, and every crypto tried its best to stay relevant. Some of them managed to do it, others did not, and have disappeared, or have sunk into the depths of the market cap lists, never to be seen (on significant positions) again. This chaotic environment was still very much present when Ripple (XRP) first appeared, and yet, this crypto managed to land the third spot on CoinMarketCap’s list and has stayed there ever since.

This is quite an achievement, especially since Ripple managed to hold this position throughout the entire over half a year-long bearish market. However, many have started to wonder if Ripple can ever reach its glory days?

Back in January, when the crypto prices were still at their highest, Ripple almost reached a $4 mark. However, soon after that, the prices dropped, and Ripple fell below $1. Even right now, the coin’s price is only at $0.439016. Still, this doesn’t mean that Ripple has given up, and the crypto continues to make progress in preparation for a new price surge.

New price increases more than possible

Only a few short weeks ago, Bitcoin (BTC) led another spike in crypto prices, going up by $2,000 in only 2 days, and climbing back to $8,200. It did not last for long, but many believe that other crypto events disrupted its price increase. Despite the fact that the bull run has ended, at least for now, many have taken the fact that it happened as an indicator that the market is finally ready for a serious period of recovery.

If true, then August might bring a new, even more-serious bull run. If that comes to pass, then Ripple will definitely be among the coins that will benefit the most from the change. As mentioned already, Ripple did not spend the previous six months sitting around doing nothing. Instead, its team has been working hard on creating new products, improving the old ones, and entering numerous partnerships with large financial institutions.

Ripple has become known as a go-to crypto for banks that wish to give cryptos a chance, but also to those that simply wish to remain relevant. The technology behind handling money is changing, and those financial institutions that have decided to accept this fact have turned to Ripple for aid. Of course, Ripple delivered, and thus ensured itself a future in the financial industry, no matter what happens with the majority of the crypto world.

With all these improvements, new partnerships, and Ripple’s former performance, the coin has very good chances to hit $1 as soon as the market allows it. All that is needed now is another positive event that will spark another bull run, and many cryptos, Ripple included, might even reach their record prices.

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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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Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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