2018 has been very hard on the crypto market and investors. With the recent crashes we can conclude that the bubble popped and it’s hard for some people to admit it to themselves. But despite of all the negativism that is floating around, long term Crypto believers like myself still know that the impact of digital currencies isn’t measured in dollars. It’s hard on alot of investors that invested between November 2017 and February 2018, but that’s why you invest in crypto only those funds that you can afford to lose. And despite the low prices, you only fascilitate the losses if you sell low. In my opinion you only sell if you need the money or have credit debt. Those that can afford to wait, in my opinion should.
Yes, the bubble popped, but we can learn from other bubbles like the dot com bubble, when the prices of internet companies’ stocks skyrocketed then crashed down. The irrational hype of investors created and then popped the dot com bubble, but after that the market had time to mature and to grow to one of the best investments markets ever. Too many people entered the crypto market for quick profits and now most of those people are bailing, but the crypto market are here to stay. The impact of digital currencies has yet to be felt, like other revolutionary technologies like the Internet. Also, for cryptocurrency traders, there are many ways to hedge with stablecoins and thus to evade these crashes. During the recent crash, all cryptocurrency volume doubled as you can see the charts below. Charts are from Coinmarketcap.
Bitcoin and Crypto Transactions Banned by Alipay
Friday October 11, 2019
The digital payment branch of the Chinese e-commerce behemoth Alibaba, Alipay, has officially banned all bitcoin and crypto transactions. There're several reports about @Alipay being used for bitcoin transactions. To reiterate, Alipay closely monitors over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations. [cont'd…] — Alipay (@Alipay) October 10, 2019 Yesterday, Alipay’s
The volume of all stablecoins is high, which is normal in bear markets. But Tether (USDT) has been holding to the number 2 spot for active volume for a long time now. The crypto markets present a lot of opportunities for traders and Changpeng Zhao, the CEO of Binance also believes that the current bear market presents many opportunities. He also noted that Binance and the markets are currently in a “favorable” position, despite the almost full year of downward price movement. The market just reached an incredible peak and 11 months later, it’s lost 70% of its value during the 4th biggest correction in its short 10-year old history.
The crypto market has a healthy volume
Zhao has been very open about Binance’s volume losses. He stated that the exchange is down nearly 90% since the beginning of the year. The main factors according to him, were the correction and Bitcoin’s high levels of volatility during the last few months. Zhao made sure to note that the business is still going, with a profit. Despite the 90% drop in volume, the exchange is still trading in huge volumes. The exchange being profitable is probably due to the ever-increasing amount of users who deposit and trade with BTC. When asked about the long term growth of Binance he stated:
“We are signing up a large amount of users daily. From our current observations the system seems to be quite healthy. Both the crypto we hold and the new users are increasing at a steady pace. If we take a look at our cold wallets and the amount of BTC we hold, we can see an increase in the deposits.”
Cryptoscam casinos across Australia
Saturday May 11, 2019
Some of the first companies to adopt cryptocurrency use were online casinos. These companies enjoyed the cheap transfer of currency between sides which was much quicker than some of the services that are offered currently, and the users found the fact that the funds could not be traced to one source or another quite attractive.
With the crypto market taking a sharp downturn in the beginning of the year, many research companies started investigating. TABB Group came out with a report, stating that the over-the-counter market (OTC) is roughly 2-times the size of the crypto exchange market. OTC is used mainly by large institutional investors for trading. Zhao was quick to note that the OTC market was estimated to be at least as large as the live recorded volumes of many exchanges.
That being said, the actual trading volume of the crypto market is roughly twice the size of the current volume. In the beginning of the month, daily trading volumes were estimated to be around $11.7 billion. This means that if the OTC market is indeed the same size as the crypto exchange market, the real volume of the crypto market must add to over $23 billion. Zhao finished up by saying that he’s expecting a large positive development in the near future, which could be the long-awaited catalyst to push the crypto market back up.
The Crypto markets are crashing: Where is the bottom?
Venezuela wants to submit Petro as a unit of account at OPEC
Pro-crypto candidates score wins in the US Midterm Gubernatorial elections
Alfa-Bank and the Marco Polo Network join to Optimize Trade Finance with Blockchain technology
Thursday March 07, 2019
Alfa-Bank today announced that it joined the Marco Polo Network, the largest and fastest growing trade finance network leveraging Corda Blockchain technology. According to Dina Merkulova, Head of Trade Finance of Alfa-Bank, the merge is about to bring significant efficiencies in financing trade and working capital: “In line with our objective to offer to our
The post The Crypto Market is not dead: Crypto Volume 2x larger than reported appeared first on CoinStaker | Bitcoin News.