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According to the research, the creation of competing altcoins is likely to place downward pressure on the prices of all cryptocurrencies. The creation of competing altcoins is likely to place downward pressure on the prices of all cryptocurrencies, including Bitcoin (BTC). This conclusion was found by research conducted by the Federal Reserve Bank of St. Louis and published on Jan. 11. The report cites two perspectives: Bitcoin bulls’ belief that the capped supply and increased demand will increase BTC’s price, and the bears’ belief that its price will fall to zero. The researchers state: “We think the future price path is more likely to remain bounded between these two extremes.” According to the research, the United States dollar price of BTC will also depend on its exchange rate relative to altcoins. The report explains that the bulls expect Bitcoin to appreciate relative to altcoins, or to keep its market capital relative to the global crypto market cap constant. Still, the resear..
Bitcoin rose from the dead almost 100 times last year alone, while 934 altcoins have perished, data suggests. A look at the history of cryptocurrency in 2018 has shown that Bitcoin (BTC) has risen from a “dead” designation in the media 90 times, data from industry news and information portal 99bitcoins shows. According to the site’s fabled Bitcoin Obituaries section, which tracks media claims that Bitcoin has failed, almost 100 such claims surfaced last year as BTC/USD trended down from highs around $20,000 in December 2017 to lows of $3,130 in December 2018. By contrast, a log of altcoins which for various reasons disappeared from the market altogether now contains almost 1,000 entries. The database, Dead Coins, distinguishes assets which failed due to hacks, scams, or which simply became “deceased,” along with “parody” coins which served no sincere purpose, according to their criteria. The website allows anyone to submit a claim for a “dead” coin. Combined, the total number of altco..
An analysis of 2018 price performance and the slowdown of the ICO sector demonstrates the pitfalls of centralization, Jimmy Song says. Perceptions of Bitcoin (BTC) versus altcoins changed forever in 2018, as the largest cryptocurrency separated itself from the rest, Bitcoin developer Jimmy Song wrote in a blog post on Dec. 31. An ardent defender of Bitcoin’s decentralized values, Song, who is also a frequent social media commentator, argued that last year “showed [...] what Bitcoin Maximalists have been saying all along.” “Bitcoin is different because Bitcoin is decentralized,” he summarized, adding: “The advantages of decentralization are often subtle and easy to dismiss, but they are real benefits.” One of many sources to have criticized the initial coin offerings (ICO) market in 2018, Song noted that the huge amounts of money raised by projects contrasted with the small number that launched, while fewer still delivered a product that the market would want or need. The mismatch betw..
Bitcoin is seeing a fresh push higher one year after it passed its highest-ever price of $20,000. Wednesday, Dec. 19 — Cryptocurrency markets continue a fresh rally with Bitcoin (BTC) touching $3,800 and leading altcoins to claw back their latest losses. Market visualization from Coin360 Data from Cointelegraph’s own price index, CoinMarketCap and Coin360 confirms the extended rebound, which began late Monday and continued through Tuesday. After a slight correction, almost all of the top 20 assets by market cap began climbing higher again, with BTC/USD finding support at $3,750. Last week, the pair had dipped as low as $3,130 amid warnings that a much larger fall could be imminent, potentially taking Bitcoin to $1,300 or lower. At press time, the largest cryptocurrency was trading on major exchanges for around $3,830. Bitcoin 7-day price chart. Source: CoinMarketCap In altcoin markets, it was Bitcoin Cash (BCH) which led the resurgence, the asset having previously fallen more precip..
Major coins are seeing slight losses, while the newly-forked Bitcoin SV, the ninth top crypto by market cap, is down almost ten percent on the day. Tuesday, Nov. 24: Bitcoin (BTC) has failed to hold $4,000 support that it challenged yesterday, while most major cryptocurrencies by market cap have seen losses over the past 24 hours, according to CoinMarketCap. 9 of the top 20 cryptocurrencies are seeing mild gains today, with the ZCash (ZEC) and NEM (XEM) prices increasing by more than 10 percent and 8 percent on the day, respectively. Market visualization from Coin360 Bitcoin is trading at $3,766 at press time, up around 0.28 percent over the past 24 hours. After dipping to as low as $3,601 on Nov. 25, the major cryptocurrency briefly broke $4,000 yesterday, but failed to hold the gains. Bitcoin has been trading around the $3,700 threshold over the day, with intraday high briefly spiking to as high as $3,823, and intraday low of $3,643. Bitcoin 7-day price chart. Source: CoinMarketCa..
A while ago, Ripple’s Brad Garlinghouse said that XRP is going to gain its independence from Bitcoin. What exactly did he mean. Well, for as long as the cryptocurrency market has been in existence, the price of Bitcoin has had a significant impact on the prices of altcoins. As Bitcoin rises, so do these altcoins. As Bitcoin falls, they typically follow. Garlinghouse predicted that a time is coming when some strong projects like XRP will gain independence from Bitcoin. When this happens, the price of Bitcoin will no longer affect the price of the said altcoin. Well, things appear to be working in favor of XRP now. XRP (XRP) Price Today – XRP / USD Name Price24H (%)$0.477414 0.55% The current turmoil the cryptocurrency market is facing can be blamed on the Bitcoin Cash hard fork. As the war between Bitcoin SV and Bitcoin ABC intensifies, the enter cryptocurrency market suffers with BCH taking the lead. While yesterday was marked with a minor recovery, everything seems to be going sidew..
The impact of this week’s market volatility is beginning to fade for major cryptocurrency assets, markets confirm. Cryptocurrency markets are recovering from their recent mini crash today, Nov. 16, with only Bitcoin Cash (BCH) going against a trend which saw assets gain as much as 4.3 percent in 24 hours. Market visualization. Source: Coin360 The fallout from turbulence over BCH’s controversial hard fork, which occurred Thursday, Nov. 15, appeared not to last, with Bitcoin (BTC) recovering a modest 1.35 percent Friday to trade around $5,590 by press time. The largest cryptocurrency had fallen hard in the hours leading up to the hard fork, at one point trading as low as $5,146 according to data from Cointelegraph’s price tracker, Coin360, CoinMarketCap, and Bitcointicker. A full correction, one analyst has warned, could nonetheless take “weeks or months” to solidify. Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index By contrast, BCH itself has failed to capitalize ..
A wobble in Bitcoin has spelled increased volatility for the majority of big-name cryptocurrencies. Cryptocurrency markets are showing red across the board Nov. 14, as a steep drop in Bitcoin (BTC) ricocheted across major assets. Data from Cointelegraph’s price tracker, Coin360, and Bitcointicker confirms BTC/USD bouncing off support around $6,150 on exchanges, at press time hovering above $6,200 again. Market visualization. Source: Coin360 The dip to $6,150 marks a fresh test of the stability seen in Bitcoin for the past several weeks, the largest cryptocurrency not testing the barrier since mid August. No major events appeared to contribute to the latest declines, with some analysts nonetheless predicting the ongoing bear market would continue into 2019 — longer than many had previously assumed. “Putting together the blockchain view, I suspect the timing for a bottom may be around Q2 2019,” technical analyst Willy Woo, creator of data site Woobull, commented on social media Nov. 13..
sponsored A new virtual crypto ATM software which allows people to buy or sell cryptocurrency at any retail location that has a checkout. The only thing required by customers is their email address. While the number of people who want to use Bitcoin or Ethereum for their daily purchases is growing, one of the most confusing aspects for beginners is still how to actually buy and sell crypto. Online peer-to-peer exchanges may look questionable or too complicated for some users. Purchasing altcoins may be even more complicated - in order to buy many of them, users have to purchase major cryptocurrencies first. Netcoins Inc. is one of the companies that aims to offer a solution for those who prefer to buy Bitcoin and altcoins from a trusted source, rather than online. The team is creating a new opportunity for altcoins to get into the physical retail marketplace, allowing users to buy crypto instantly for fiat with cash, debit, or credit card. How it worksNetcoins, a company based in Van..
Most top twenty cryptocurrency see less than 1 percent volatility in the past 24 hours, data confirms. An eerie calm continues to linger over cryptocurrency markets Friday, Oct. 26, as Bitcoin (BTC) volatility hits an all-time low and altcoins remain stagnant. Market visualization from Coin360 Data from Cointelegraph’s price tracker and Coin360 paints an underwhelming picture for short-term speculators, but one that has delighted many analysts, who have begun hailing a new era of Bitcoin stability. On Friday, Bloomberg joined the multiple cryptocurrency industry commentators to highlight Bitcoin’s lack of volatility, with October 2018 being the least volatile for eighteen months. Commentators claimed this was a sign the leading coin was nearing its bottom. At the same time, one fund management head told the publication, the ongoing bear market should be “getting tired” and a bullish upturn was likely to form Bitcoin’s next move. That sentiment was repeated by Fundstrat Global Advisor..
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