#Bitcoin#Price Can Hit Previous Highs After ‘Structure’ Improves: #CoinShares#CEO
UK #cryptocurrency investment products and research provider CoinShares believes #Bitcoin will hit previous highs after people “build” on the ecosystem, its CEO said May 16.
Speaking to CNBC on the network’s Fast Money segment, Danny Masters identified several changes which would need to occur in order for Bitcoin to see the $20,000 price tag once again.
“We need to see this structure continue to build,” he told presenters. “We need to see the custody solutions come and be provided. We need indices and we need performance measures where we can actually start to understand what we're talking about and measure our performance. We need to do more mature work around the ICOs… and just give investors more clarity, better expectations, more transparency.” Masters was speaking as the Consensus 2018 conference drew to a close in New York. The event received criticism this year after Bitcoin industry figures said it focused too much on blockchain-based tokens and “buzzwords” instead of examining progress.
In summary comments online, Bitcoin core developer Johnathan Corgan even described the atmosphere as “like all the popular kids (Blockchain) are publicly bashing the geeks and nerds (Bitcoin) while privately trying to copy their homework.” Outside, traders were also disappointed by the bullish price forecasts on the back of the conference, such as the 70% gains from Fundstrat Global Advisors cofounder Tom Lee, so far failing to come true.
For Masters, however, a longer-term first-mover advantage is a decisive aspect of Bitcoin.
“Bitcoin is almost... a reserve currency in crypto; the thing that everybody goes back to because it’s got the infrastructure, because it’s got the most network connections, the most exchanges connections - that’s sort of a bedrock,” he added.
Le Bitoin, Le système fonctionne sans autorité centrale, ni administrateur unique, mais de manière décentralisée grâce au consensus de l'ensemble des nœuds du réseau. Le Bitcoin est la plus importante monnaie cryptographique décentralisée, avec une capitalisation supérieure à 200 milliards de dollars.
5 453:26 PM Apr 10, 2018
Le Bitcoin, depuis sa création en 2009 et jusqu'à la fermeture par les autorités américaines de Silk Road en 2013, le bitcoin a été utilisé majoritairement comme moyen d'échange par des réseaux criminels pour des jeux d'argent.
The EU Won’t Wait for #Global Agreement on #Cryptocurrencies: #Spain’s #Economy Minister
During the G20 summit, the Spanish Minister of Economy, #Industry and Competitiveness, Román Escolano Olivares, revealed that he doesn’t see #cryptocurrencies as a threat to the global financial system and that the European Union (EU) may not wait for a globally coordinated effort to regulate #cryptos.
Speaking on the sidelines of the ongoing summit, the minister pointed to two fundamental issues when it comes to cryptocurrencies – which he prefers to call crypto-assets – which are consumer protection, and their use in illicit activities.
Regarding cryptocurrencies, Olivares stated (roughly translated): “The general agreement we have reached, is that right now we cannot think that crypto-assets are a risk to global financial stability, but it’s a subject we need to actively monitor.” Olivares went on to state that consumer protection is an issue and that the Spanish Securities Commission (CNMV) and the country’s central bank have issued statements advising investors to tread carefully.
In addition, he pointed out that it’s important to address the role cryptocurrencies can have in crime and terrorist financing. Per his words, “it is very important that there are clear rules to prevent this kind of activity from developing,” thanks to the anonymity provided by various cryptocurrencies.
“In this way the FATF [Financial Action Task Force], which is an international body that regulates these activities, has a very clear position in which it is necessary to monitor and propose legislative norms around the world to prevent these activities.” The minister’s position seemingly reinforces the views of the world’s economic leaders. The G20 communique showed “crypto-assets” is a preferred term, and that cryptocurrencies raise issues when it comes to investor protection, tax evasion, market integrity, money laundering, and terrorism financing.
The document goes on to state regulation recommendations are coming in July 2018. #bitcoins#bitcoininfo#bitcoinnews#coin#altcoin#ethereum#cryptoinvestor#cryptocommunity#cryptogirl#bitcoinvolatilitysoftware#bitco
#Cryptocurrency#Market#Continues to Slump as #Ethereum, #Ripple, et al. Suffer 20%+ Fall
The cryptocurrency market has continued to slump over the past 24 hours, as major cryptocurrencies including Ripple, Ethereum, and #BitcoinCash recorded over 20 percent in daily losses.
Since January 15, the market valuation of cryptocurrencies declined from $700 billion to $500 billion within a 48-hour span. In the past few hours, the cryptocurrency market demonstrated some signs of recovery, as the market cap of all cryptocurrencies combined increased from $450 billion to $530 billion. “Bitcoin Decreased Little Bit, Altcoins Plunged a Lot”
The claims that bitcoin slumped by a small margin while smaller cryptocurrencies plunged in value are evidently false, given that major cryptocurrencies recorded larger losses in value than small cryptocurrencies in the market.
Bitcoin did decline by a small margin in comparison to Ethereum, Ripple, and Bitcoin Cash, but it also decreased by more than 15 percent. Since December, bitcoin has dropped from $19,000 to $11,000.
It is also incorrect to justify the recent decline in the market valuation of cryptocurrencies to the trading ban fiasco in China and South Korea. The Chinese government banned cryptocurrency trading in September 2017. Today, the Chinese market has barely any volume to impact the global cryptocurrency market in any way.
Many investors are currently concerned about the state of the market because of the abrupt fall in the value of cryptocurrencies. But, the cryptocurrency market regularly experiences 20 to 30 percent corrections. For instance, when the People’s Bank of China (PBoC) and the Chinese authorities banned initial coin offering (ICO) along with cryptocurrency trading in September, the price of Ethereum declined by more than 30 percent.
Two months before that, Ethereum suffered over a 50 percent decline, from $360 to $134. Given the massive corrections Ethereum, bitcoin, and Bitcoin Cash have experienced over the past few months, the recent correction is not the biggest correction the market has suffered in the past year.