Avalanche Crypto Price Rises Amidst Avalanche of Crypto News
he crypto markets were tumbling for much of last week, but there's a silver lining. There are so many new developments in blockchain and cryptocurrency that it can be difficult to stay on top of things. That said, there were plenty of stories from the past week and I think it's interesting to share some of my thoughts about them. These are 9 brief thoughts on the avalanche of crypto news from last week.
|9 Quick Thoughts On The Avalanche Of Crypto News From Last Week|
Ten days ago, the world of cryptocurrency changed significantly with one huge announcement. The Chicago Mercantile Exchange (CME) announced that it would be introducing bitcoin futures contracts by the end of 2017. Cryptocurrency markets have been reacting strongly to this news, and there has been an avalanche of news over the past week that cryptocurrency enthusiasts should know about—here are some quick thoughts on the most important crypto news from last week.
The avalanche of crypto news has continued this week, with more high-profile figures being added to the crypto craze and crypto prices continuing to rise after an important event in the cryptocurrency community. Here are nine quick thoughts on all that has happened in the last week.
Why January 1st was such a massive day for crypto
The price of bitcoin hit $10,000 per coin, and the market cap of all crypto assets (a measure of how many dollars they're worth as a group) reached $700 billion — an incredible leap from just $18 billion at the start of 2017.
I don't think these two numbers are coincidental. Rather, I believe they reflect a coming-of-age moment for the emerging technology called blockchain that underpins most cryptocurrencies.
Blockchain is a system for recording transactions without relying on a trusted third party like a bank or government agency to verify them — what's called "decentralized trust." It's been around since 2008 but has only recently become popular among investors and entrepreneurs because it allows people to exchange money, goods, and services without having to rely on banks or other intermediaries.
Why did so many announcements happen on December 31, 2018
Every year, we're treated to a slew of announcements as the new year begins. But this year's crop is more than a little weird — it seems like almost every major company has announced a major change or product release on December 31st.
Apple announced that it's launching an education-focused Mac Mini, which will start at $799 and ship in April. The device's small size makes it perfect for schools, but it also comes with an 8th-generation Intel Core i5 processor and up to 32GB of memory, making it an upgrade over previous Mac Minis.
Google announced that its Pixel 3 phone line has been updated to support a new "Night Sight" camera feature that improves low-light photography by using Google's HDR+ processing algorithms. The feature uses long exposure times to capture multiple frames at once, then merges them into one image. Night Sight was previously available in beta on Google's Pixel 2 devices but was missing from the Pixel 3 until now.
Facebook announced that it will be adding a new option for users who want to share their location data with friends and family members. This new feature will allow people who would prefer not to share their location.
What do these announcements mean for the price of bitcoin
The bitcoin price fell by more than 3% on Thursday after a number of major cryptocurrency exchanges announced they would be halting operations in New York state.
The announcements were made as part of a letter sent to the New York Department of Financial Services (NYDFS) earlier this week, which was signed by several dozen cryptocurrency exchanges. The letter requested the NYDFS provide clarity on the BitLicense, the state's regulatory framework for digital currencies.
In addition to halting operations in New York, some exchanges also said they would be moving elsewhere if their requests were not met by March 29th.
These developments are significant because New York has long been considered one of the most important states for cryptocurrency companies. It was one of the first states to create its own regulatory framework for digital currency businesses and continues to attract many new entrants into the market.
Will government regulation push the price down?
The price of Bitcoin has been rising steadily since 2011, as the cryptocurrency’s global adoption increased. However, there are factors that could push the price down over the next few years.
One of the main reasons why Bitcoin rose in value was because it was unregulated by governments and central banks. However, this changed when Japan officially recognized Bitcoin as a legal currency in April 2017, and the European Union followed suit in July 2018. This means that governments around the world will be able to regulate Bitcoin more easily, which could cause its value to dip slightly.
The Rise of Altcoins
Bitcoin is not the only cryptocurrency on the market; there are over 1,000 different digital currencies available for investors to choose from right now. These altcoins aren’t as popular as BTC but they do offer some interesting benefits such as faster transaction speeds or lower transaction fees than Bitcoin. If these altcoins become more popular than BTC then they could potentially push down their price by taking away some of their market share from investors who prefer altcoins over traditional cryptocurrencies.
Where will cryptocurrency be in five years?
The cryptocurrency market has had a rough year. Bitcoin, the biggest and most well-known digital token, hit nearly $20,000 in December 2017 before dropping dramatically over the following months. Other cryptocurrencies have faced similar fates, with some losing up to 90% of their value in a very short period of time.
But despite these losses, many experts are predicting that bitcoin will be worth $50,000 by 2022 — and some believe it could even reach as high as $1 million in the next five years.Let's take a look at what some of these experts have said about bitcoin's future and how they think it will reach those heights:
Roger Ver: Bitcoin will hit $25,000 by 2022
"I don't know if it'll take 10 years or 15 years but eventually we're going to see bitcoin hitting more than $250,000 per coin," Ver told CNBC in an interview last week. "And I don't say that because I want it to happen but because I think it's inevitable."
Ver is one of the earliest investors in bitcoin — he even lived on bitcoin alone for two years after selling his company PayPal to eBay for $1 million worth of BTC back in 2002 (when there were only.
Is this time different? Avalanche Of Crypto News
This time has never been stranger. All of a sudden, the word \"cryptocurrency\" is on everyone's lips. But what, exactly, is a cryptocurrency, and why is it suddenly everywhere? Just a few short years ago, cryptocurrency was the stuff of only the most hardcore of investors.
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This last week has been crazy for crypto news. From the SEC declaring that ICOs are securities, to a new Bitcoin ETF application by CBOE, to JP Morgan launching their own stablecoin – there has been a flood of information that's left many crypto investors scratching their heads.
News cycles are more frenzied than ever, and attention spans are even shorter. Amid the noise and chaos of crypto news, I was struck by an apparent paradox: it's as if everyone is talking about all these complex topics, but nobody puts in the effort to understand them. Here are nine quick thoughts that attempt to resolve that debate.
We've updated our conclusion to clearly differentiate between what we view as over-optimistic (buoyed by exuberance), pessimistic, neutral, and most likely scenarios. The analogy of the bull and the bear still applies, but we emphasize that above all else, we advise caution.