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Will the Bitcoin price rally continue? Signs BTC bubble is about to burst

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Within the last couple of days, the number one virtual currency, Bitcoin, appreciated from $6,367 US dollars to $7,420, marking an incredible stride after continuous dips. But many might be thinking if the current BTC bull run is going to continue or end even quicker than it started? We have reasons to believe it will carry on, at least for a while. Let’s discover why.

The force behind Bitcoin’s latest price rise

The proclamation caused Bitcoin’s most recent and most substantial price surge in weeks that the most significant asset management company in the world, BlackRock, was looking into ways to invest in cryptocurrency and blockchain technology.

According to information gathered from Financial News, BlackRock has instigated a working group that has been tasked to focus on ways the company can take advantage of virtual currencies, and whether Bitcoin is a viable investment option, it can look at in future.

Two sources that sought anonymity disclosed to the media that a team has already been assembled from different departments of the business to examine the structure of virtual currency, Bitcoin, and the workings of blockchain technology. Part of their mandate is to monitor BlackRock’s competitors and their dealings with cryptocurrency.

The news that BlackRock Inc. is probing the crypto sector is causing excitement on the virtual currency sphere, which in turn is leading to sharp gains for most of the leading virtual currencies in the market. Bitcoin, ranked number one, is particularly experiencing sharp price appreciations since the late morning session, that saw it break through the 6,500 US dollar barrier for the first time since June.

The Monday morning price surge was followed by an afternoon steady price advancement session that pushed the value of Bitcoin to surpass the 6,700 US dollar mark. The virtual currency finished the day at a high of 6,741 US dollar, up from its previous level of 6,357 US dollar. Bitcoins market cap currently stands at around $127 billion.

Is Bitcoin a Bubble?

In today’s world, even those who have not invested in cryptocurrency are starting to keep tabs on the market’s progress. This is because currencies such as Bitcoin have been recording price increments that have left many Bitcoin holders and investors excited about the possibilities of how much its value might climb.

The cryptocurrency market is now getting interests from complete armatures who believe now is the time to invest in the digital asset following the Bitcoin upward surge. However, some analysts are a skeptic of the progress and wonder when the Bitcoin bubble burst.

On whether Bitcoin is a bubble, it is hard to determine if it is considering Bitcoin is an entire industry, this is according to Derek Thompson, a senior economics editor for The Atlantic. However, Derek believes that Bitcoin’s latest patterns are similar to other famous bubbles such as the dotcom bubble that did burst.

The number one ranked virtual currency is an asset that is on everyone’s mouth and thoughts. Investors are making huge life investment decisions based on the value of Bitcoin; they often make remarkable predictions on the future of the digital coin.

The volatility of virtual currencies meets all the requirements to make the whole crypto market to be a bubble. On when it is going to burst remains a mystery, but as things look at the moment, Bitcoin is having a strong breakout that more likely is going to continue for a good period now (at least).

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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.

Image courtesy of Maxpixel.net

Bitcoin

How Casinos Are Embracing Cryptocurrency

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Digital currencies and blockchain technology have had an immense impact on several industries across the globe. One of the areas where this impact has been very profound is in the gambling sector – which has also been known for embracing the latest technologies. Gaming operators have always been at the frontlines when it comes to trying out new and innovative technologies all in a bid to keep their customers happy and interested.

That said, it was only a matter of time before cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin among many others made their mark in the gambling industry. All of the features that these digital currencies promise are, without a doubt, very desirable features for gamblers across the world.

The result is a mutually beneficial arrangement where digital currencies get the necessary boost to go mainstream while the gaming operators get a front-row seat as the world ushers in the new age of next-generation digital payments. Naturally, there has to be a framework for this and thankfully its already being implemented in both land-based casinos and in online gambling platforms. 

Crypto in Land-Based Casinos

Cryptocurrencies, since their conception, have always been digitized forms of payment. However, nearly everything is digitized nowadays. Still, brick-and-mortar casinos rely greatly on existing systems all…

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Reaching true Bitcoin anonymity through the use of mixers

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There used to be a time when Bitcoin transactions were considered fully-anonymous. Back then, cryptos were only getting started, and Bitcoin was pretty much the only one that was used, apart from a handful of the first altcoins that followed. However, as the crypto industry continued to develop, current blockchain analyzers were created, and it became clear that Bitcoin’s transparency also includes tracking the coins’ movement, even when you are simply withdrawing them from your exchange to your wallet.

This is why it became necessary to use Bitcoin mixers, also known as Bitcoin blenders or Bitcoin tumblers, such as BitMix.biz, in order to reach true anonymity.

What are Bitcoin mixers, and why do you need them?

Bitcoin mixers, as the name suggests, are online services that mix Bitcoins in order to disrupt their traceability.

Let’s say that you have a certain amount of BTC in your wallet on your crypto exchange of choice. With all the exchanges having to follow KYC/AML procedures, that means that you need to verify your identity, so that the exchange — and therefore, the authorities — will know exactly who you are and how much money you earned through trading and investing.

Once you withdraw those coins to your wallet, blockchain analyzers can track the transaction, and so your wallet…

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The Bitcoin Meltdown is Chance to Double Your Bitcoin

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Most of the cryptocurrency holders have never felt a day so bad.

After a blustering day of trading which saw Bitcoin price drop from $7,950 to $3,800, the massacre caused the worst sell-off to set a new 2020 low which not seen since April 2019.

The history of bitcoin only has a day in 2013 to compare a 40% fall, at that time bitcoin once dropped from $266 to $50, that was also a day when despair defeated the belief of bitcoin and almost no one could foresee bitcoin can recover and prices will reach $10,000 in a few years.

“Be fearful when others are greedy and greedy when others are fearful.” This is what Warren Buffett said about stock market and you can see the stock market never dies, it is just rise and fall happen in a different order at different times.

So it is with bitcoin. The bitcoin meltdown is a chance for a few bitcoin traders while the others are running away.

One typical way is to short bitcoin. Futures trading allows traders to make profits out of the future price difference of the derivatives. However, when during horizontal movement of prices, futures trading may gain you fewer profits to cover the possible loss of the margin.

Is there…

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