The movement of the 24-hour bitcoin price lacked a growth engine, the price mainly moved in a narrow range from 8,500 – 8,650 USD. Meanwhile, the altcoin market is also relatively 'gloomy' when the red color still covers.
Today's bitcoin exchange rate (2/3) recorded at 10:15 at $ 8,662, down slightly by 0.37% from the previous 24 hours. Bitcoin's market capitalization has dropped to $ 157 billion, with Bitcoin's market dominance (market share) at 64% – according to BTA's bitcoin exchange rate (https://blogtienao.com/ty-gia/BTC/bitcoin/)
The market in today's session with red accounted for the majority, when only 31/100 digital currencies increased compared to the past 24 hours.
The top 10 was no better, not noticing any noticeable momentum.
And compared to the past 7 days, the majority of copper is still deep in the downtrend.
The total market capitalization of the digital currency recorded at 10:15 at US $ 246 billion, a slight increase of US $ 0.8 billion compared to the last 24 hours.
The 24-hour trading volume continued to decline, recorded at US $ 128.52 billion, down US $ 1.5 billion compared to March 1.
Bitcoin analyst Eric Hokado's comments
According to Eric Hokado, if altcoins all move strongly in the downtrend, Bitcoin price is likely to drop to the bottom of $ 8,000 in the short term, maybe even touch $ 7,800.
According to him, the next few months the price of bitcoin is unlikely to trigger a major rally like last June despite the Halving event approaching.
Many people think “the price of bitcoin will rise sharply when it comes to Halving” but this may be the wrong thought that gets you stuck in the 'whirlpool' of cryptocurrency.
See more: What is Bitcoin Halving? How will it affect Bitcoin?
The CFTC holds a meeting to learn about stablecoins
The US financial regulator has just sat back on major stablecoin projects to better understand this cryptocurrency industry.
Technology Advisory Committee of Commodity Futures Trading Commission held a meeting on February 26 to learn about stablecoins, digital currency insurance, storage and cybersecurity techniques.
3 stablecoins projects: JPM Coin, MakerDao and Paxo joined in, discussing various aspects of cryptocurrencies and stablecoins during the meeting.
CFTC Commissioner Brian Quintenz has an optimistic view of stablecoins as a method of liquidity transactions in the near future:
“In creating correlative value, stablecoins have potential, acting as a sustainable liquidity method in exchange and acting as a facilitator for smart contracts.”
Bank of Korea NH Bank launches Samsung blockchain identification system
A major blockchain identification project by Korean tech giant Samsung is being launched for the first time for commercial purposes.
NongHyup Bank (NH) has introduced a blockchain-based mobile identification system developed by a technology group of large companies in Korea, including Samsung Electronics and LG Uplus.
According to a recent report by the Korean newspaper JoongAng Ilbo, NH Bank has just joined with South Korea's SK Telecom to apply this new identification system.
Bank President and CEO Lee Dae-hoon along with 20 executives and test staff identify mobile workers at the NH Digital Innovation campus in Seoul. This system uses a smartphone instead of an employee card as usual.
In the future, this system will be used for meeting and payment of services.