From the opportunity to buy Bitcoin dip to altcoin that is out of season, here are some highlights in the crypto space.
Since Bitcoin has lost around 50% of its value in the past two days, dropping from $ 7,400 to $ 3,900 and then recovering slightly, many people tweeted that this crash was an opportunity and investors should buy dip.
Bitcoin analyst and supporter Raoul Pal, who predicted the 2008 financial crisis, said he saw an opportunity to buy BTC amid extreme fear in the market. Former Goldman Sachs CEO and founder of Global Macro Investors said that Bitcoin's dramatic discount was “fire sale” (sold at high discounted prices).
If you think that the end of all of this, somewhere lies a digital, immutable future, then painful though it is … soon will be the time to add massively. Everything is getting liquidated and this is fast becoming a fire sale … #BTC #Bitcoin pic.twitter.com/Vyq6hN3XgQ
– Raoul Pal (@RaoulGMI) March 13, 2020
While some investors are liquidating their crypto assets, Bitcoin evangelist Michelle Phan is also raising the price of Bitcoin.
When the top cryptocurrency hit a low of $ 4,121 on Thursday, Phan said it was a good time to enter this notorious, volatile and volatile market.
All my friends have been hitting me up asking if they should buy. YES. Buy in the dips. #bitcoin pic.twitter.com/YpNiBw2cBe
– (@MichellePhan) March 12, 2020
Phan, who has invested in cryptocurrency game company Quarters, also seems to be following his plan to start a new crypto-related podcast this year. She said one of the goals of “Baby Steps”, is to help people learn how to buy and store Bitcoin.
As one of YouTube's earliest and most popular beauty content creators, Phan now has 8.9 million subscribers on YouTube and 2 million followers on Instagram. Phan wants to use his influence to promote educational content about Bitcoin.
Edward Snowden also called the current BTC price collapse 'too much panic and too little reason'. He admitted that he felt like buying some Bitcoin for the first time in a while.
This is the first time in a while whilstveve felt like buying bitcoin. That drop was too much panic and too little reason.
– Edward Snowden (@Snowden) March 13, 2020
The discount scenario has been foreseen
Jack Mallers said that Bitcoin's latest decline is not a big surprise. While a 46% drop in a 24-hour period has put Bitcoin in a death spiral to unprecedented levels since March 2018, Mallers, founder of Zap wallet Bitcoin Lightning, said the current incident in the financial system that led to the stock market sell-off, along with the Federal Reserve pumping $ 1.5 trillion on Thursday to prevent a broader collapse, is exactly why Bitcoin was invented. .
In one tweetstorm triggered by a comment by Coinbase CEO Brian Armstrong, who expressed his surprise about Bitcoin's recent plunge, Mallers gave a reason as to why King Coin might return.
“Anyone relatively familiar with currency and market management should not be wary of Bitcoin's recent move. When an unexpected crisis strikes, you find shelter in the winners. When cash begins to disappear, you run and grab your relief fund.
BTC is the best performing asset since its inception, still up 50% YoY today. It has increased from $ 0 to $ 20,000 since the last financial crisis. For many, cash is disappearing. The world is very loose at this time. Performance generation of Bitcoin is a relief fund for some people "
2 / BTC is the best-performing asset since its inception, still up 50% YoY today. It has gone from $ 0 to $ 20,000 since our last financial crisis.
For many, cash is disappearing. The world is very illiquid right now. Bitcoin's generational performance is a rainy day fund for some
– Jack Mallers (@JackMallers) March 13, 2020
Whale moves BTC
20,750 BTC ($ 102.7 million) were moved amid the plummeting Bitcoin price to a low of $ 3800 before climbing to the current level of $ 5400.
If one thing in common between Bitcoin maximists and Nobel Prize-winning economist Nouriel Roubini is undoubtedly their contempt for ETH.
'Dr. Doom 'recently did not show any mercy for the largest altcoin, claiming that its equilibrium value is in fact zero.
ETH, the second largest shitcoin, is now down 55% from its mid-February peak, and 91% down from its all time peak. And now the scammers leading it are desperately trying to manipulate its value to preventing it from going to its equilibrium value, i.e. ZERO!
– Nouriel Roubini (@Nouriel) March 13, 2020
Whale moves ETH
283287 ETH ($ 36.44 million) was moved in the last 13 hours amid the stock market as well as the crypto market collapsed due to corona virus and President Trump's entry restriction.
After predicting Bitcoin price will bottom out of $ 1000, veteran trader Peter Brandt issued a warning to XRP investors, when token value plummeted along with the rest of the cryptocurrency market.
XRP is currently trading at $ 0.15 with a nearly 20% decline but Brandt says he believes the value of digital assets still has plenty of room to fall.
I am breaking a promise.
I said I would never again post a chart of $ XRP
But, I thought you all might be interested in what it means to have …
“While space below” pic.twitter.com/Pse2DkEXfp
– Peter Brandt (@PeterLBrandt) March 12, 2020
HUSD and USDC news
The outbreak of the Corona virus has left the world in a state of panic. Amidst that backdrop, HUSD, the original token of the Huobi exchange has been consistently minted on this exchange after being paralyzed due to network congestion. By the time of writing, 10 million HUSD ($ 10 million) has been newly minted.
Also in the midst of panic, 10 million USDC was minted at USDC Treasury and shortly afterwards transferred to an unknown wallet.
Since Grant Thornton was appointed liquidator of the crypto bankruptcy bank, it has been a tough battle.
From the discovery that user funds were sent to common wallets until major KYC / AML violations were discovered, barriers continued.
The biggest problem they now face is determining whether the balance that Cryptopia shows on the customer's account is the same as the balance in its hot and cold wallet. In an update on March 10, liquidators filed a petition in New Zealand court to help them speed up the process.
The Cryptopia hearing was held 11-14 February at Christchurch High Court. No judgment was delivered with Justice Gendall reserving his judgment. The Liquidators have today uploaded subsequent affidavits and submissions in regards to the proceedings here: https://t.co/94p7iurDKQ
– Cryptopia Exchange (@Cryptopia_NZ) March 10, 2020
Public Bitcoin mining tools that use AsicBoost now account for 63% of the network's hashrate. This proves the community's concern since 2017 about Bitmain using the secret version of AsicBoost.
Statistical was launched on March 9 by Bitmex Research, based on a similar report from December 2018. Although AsicBoost was only used by 30% of miners at the time, analysts argued that The 2017 controversy has largely been resolved
“If AsicBoost is used secretly by a few miners to gain an advantage, with significant adverse effects on Bitcoin, then this problem has now been resolved.”
Bitmain was the target of strong criticism from Bitcoiners in 2017 after allegedly bringing AsicBoost to its hardware. The company was also punished for opposing upgrading the Segregated Witness (SegWit) of the network – a proposal that would limit the usefulness of their secret AsicBoost tactic.
MyEtherWallet has released a mobile app called MEWconnect that lets users buy cryptocurrencies in less than 15 seconds – but still has a catch.
Users need to have Apple Pay and face a fee of 3.99% in the US and 5.25% in other countries around the world. Google Pay is not yet supported.
However, this is the first mobile and fiat onramp app for MEW – one of the most widely used cryptocurrency wallets in the world. Fiat on-ramp is provided through a partnership with blockchain transfer company Wyre.
The ongoing corona virus crisis is causing investors to seek safe and valuable shelters until the current uncertainty is over. For crypto market analyst Mati Greenspan, that means rebalancing his current level with Bitcoin and other digital currencies.
Founder QuantumEconomics.io said that he was no longer exposed to altcoins on the popular social trading platform eToro. Instead, he switched 100% to Bitcoin. For Greenspan, the altcoin market represents too much risk at the moment.
“Altcoin is out of season”
Altcoins are out of season …
In lieu of the #coronavirus uncertainty, alternateve moved my entire portfolio @eToro big $ BTC until further notice. https://t.co/GNNTCIrm7P pic.twitter.com/bRzyCMCw38
– Mati Greenspan (tweets are not trading advice) (@MatiGreenspan) March 11, 2020
Coinbase finally has activated Bitcoin transaction batching feature on its platform.
This feature allows to combine multiple transactions into one, and thus, helps reduce the load on the Bitcoin network, resulting in more block space and less transaction fees.
However, new features seem to have been delayed. Coinbase initially revealed its plans for release in 2018.
Last June, Coinbase CEO Brian Armstrong also tweet that “batching transactions will be made in a few months”.
Quedex, a derivatives exchange managed by Gibraltar, recently launched a new bitcoin contract with the longest expiration date in the cryptocurrency space.
Quedex CEO Wiktor Gromniak said that the company has experienced an increase in investor interest in the new BTCUSD contract, which expires in December 2021 and was able to trade last Friday.
Quedex volume surpassed a record of $ 5 million on Saturday, surpassing an all-time high of $ 2 million achieved in February.
Quedex's total volume peaked at more than $ 16 million between March 6 and March 13, more than the exchange's $ 9.8 million weekly average. In the same time frame, the volume for contracts in December 2021 reached $ 1.2 million with most of the activities taking place on Thursday, of which the volume reached a peak of nearly $ 900,000.
Rhode Island introduces blockchain bill
On March 11, Bang Rhode Island was introduce a bill to establish an 'economic growth blockchain mission'. The purpose of the bill is to create a blockchain-friendly business environment to encourage innovators to develop the next generation of digital products and services in the state.
In order to comply with Rhode Island's policy to promote a thriving economy and encourage job creation, two Republican lawmakers came up with a plan. And that plan revolves around blockchain.
Rhode Island understands that to compete in the twenty-first century economy, Rhode Island must provide one of the best business environments in the United States for technology and blockchain innovators, and should provide a The comprehensive throttle sandbox enables these innovators to develop the next generation for digital products and services here.
Standard Chartered joins the IBM blockchain
Standard Chartered has become the first bank to join TradeLens, a global blockchain transport platform created by IBM and Danish logistics giant Maersk.
London-based bank already announced decided on March 10, with global trade director, Michael Spiegel, that digital ecosystems such as TradeLens have the potential to advance the sustainability agenda of many stakeholders in national trade. International.
TradeLens is a global supply chain solution, focusing on freight and container logistics, first launched by IBM and Maersk in April 2018. It works by providing open APIs based on The standard allows supply chain data to be monitored and shared invariably a licensed blockchain.
As a participating organization, Standard Chartered will be able to verify the authenticity of shipments in real time using documents that are exchanged securely between networked entities.
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