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2019 Bitcoin Gains Are Now At 44% Against The US Dollar

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The 2019 Bitcoin gains are a hot topic on many best cryptocurrency news sites. For many analysts, it is hard to see where Bitcoin (BTC) is right now in terms of its bullish versus bearish scenario. However, what’s certain is that the most dominant cryptocurrency is ‘in a good mood’ lately as the market approaches a new $181 billion in total capitalization.

One analyst has recently tweeted about the growth of cryptocurrencies this year, reporting the 2019 Bitcoin gains as well as the gains filtered through different categories and details such as oil and other best-performing assets.

As we can see, the initial 20% rally that Bitcoin made in early April when it surged from $4,200 to $5,000 was crucial for changing the sentiment around the crypto market. Investors at the time expected that the market would correct. Instead, the 2019 Bitcoin gains got to be even higher and the market was led by BTC in another bullish scenario.

Over the past few days, Bitcoin has continued to increase in terms of its value and has recently surpassed the $5,300 mark, recording a 32% increase in price within one month. The momentum of BTC had a lot to do with the growing market as well as the rise of Binance Coin (BNB) which is featured in the altcoin news – leading the market today and managed to get to the seventh spot on the most valuable cryptocurrencies on the market.

Even though the latest reports featured in the latest cryptocurrency news show that the 2019 Bitcoin gains have a lot to do with institutional investors turning to crypto, it is more likely that funds that are already in the crypto market in the form of stablecoins, hedge funds and fiat on exchanges would contribute to a larger effect on the short-term performance of the market.

Right now, it is easy to see that the growth of Bitcoin is definitely attributed to the entrance of Binance Chain in the blockchain space, changing the landscape of tokens so far and changing the market interest all around it. It may be too early to predict, but everyone is hoping to see more of the Bitcoin gains in 2019 in the near future.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Bitcoin News

Bitcoin Erases Its February Gains Sinking Below $8,900

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A sharp correction has rocked the cryptocurrency market since February 23, continuing through February 27 as the BTC price dropped by more than 8% to a new daily low at $8,531 yesterday. The coin managed to recover but we can see that Bitcoin erases its February gains and is still 'in the middle of nowhere' by trading around the $8,800 mark. The cryptocurrency news today show that the bearish momentum is still there. At the opening bell, the equities markets recovered some of the losses of the previous two days. However, at the time of writing, we could see that all of the major stocks, Dow Jones futures, S&P 500 futures and Nasdaq futures dropped by 1.32%, 1.33% and 1.31% respectively. Investors have been increasingly concerned about the economic impact of the Coronavirus which is now present on every continent except Antarctica. As Bitcoin erases its February gains, tech giants Microsoft and Apple also announced that they anticipate missing key sales targets and it is very likely that they lent another blow to the futures markets. Reports from the Fuse which are in the Bitcoin news now show that oil refineries in China are processing 25% less oil than usual, and the International Energy Agency noted that oil demand could drop to 435,000 barrels per day, a figure which is significantly less compared to the same period last year. Russia and Saudi Arabia, both of which are major OPEC members, have entered into a schism over a disagreement related to Saudi Arabia and its decision to cut oil production. What's important for us is the fact that Bitcoin erases its February gains and at the time of writing is down by around 10%, minimizing the gains accrued from the January 26 rally when it went from $8,336 to $10,500. The sharp correction from $10,000 calls into question the oft-presented argument that Bitcoin functions as a hedge against volatility in traditional markets. Gold markets are continuing to push higher at the same time, while altcoins are following Bitcoin's trend and taking a similar beating - some of the top 20 tokens endured double-digit losses. Ether (ETH), for instance, dropped 10.15% to trade at $215 but then went back to $228 which is its price now, Litecoin (LTC) pulled back 13.21% while EOS and Ethereum Classic (ETC) both lost around 13%.
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Bitcoin News

Monero VS Bitcoin: Is The Privacy Feature Enough?

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Following our crypto news today, we read about the Monero vs Bitcoin relationship and whether the privacy feature of the XMR coin, is enough to outperform Bitcoin. Bitcoin is the digital cash of the world and the ability to transact large sums of money across the globe, without having to ask for permission and also without the need to use middlemen is one of the groundbreaking reasons. Bitcoin now only seems to serve as a limited set of use cases so it is not very private and the transactions are generally slower and expensive. It is becoming harder to upgrade and add a few new features to the protocol which makes it resistant to new innovations and technologies. Then Monero came to the scene. Monero is private by default with untraceable transactions and it has an adaptive block size. It has its own codebase and is not simply another bitcoin clone crypto. The developers are mainly anonymous and it ticks the permissionless digital cash boxes so far. However, the Monero VS bitcoin analysts wonder if that is the case. Bitcoin is pseudonymous which means that the users can transact without providing their identities. This means that there’s no need for using real-world identities as banks do since Bitcoin uses addresses to make transactions possible between the wallets. The problem is that the addresses along with the transaction information all get stored on the public ledger. The users can make transactions without ever attaching the personal identity and it is now widely known that the Bitcoin blockchain is being data mined by the analysis companies which are able to de-anonymize Bitcoin transactions. Unlike bitcoin, Monero has privacy turned on a default setting and it is untraceable so the anonymity is baked into the protocol. As a side effect, Monero is more fungible than Bitcoin which means that you can’t tell apart from one coin from the next. For example, if a particular exchange has been hacked or the funds get stolen, the hacked coins can be tracked subsequently by exchanges or vendors. This can make a lot of the coins unspendable which is not ideal for the digital representation of cash. Monero uses three different privacy innovations namely the ring signatures, Ring Confidential transactions, and stealth addresses.
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Crypto Payment Platform AnyPay Won’t Accept BTC Anymore

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The crypto payment platform AnyPay announced that the number one cryptocurrency will not be accepted anymore on its payment platform so this platform will no longer serve as a method of how to spend your BTC. Let’s read more about it in the BTC news below. The co-founder of the crypto payment platform AnyPay Steven Zeiler explained in a YouTube video adding that Bitcoin is worthless for payment which is the main reason for its delisting the cryptocurrency. Bitcoin crossed the $10,000 price level and many believe that it is preparing itself for a huge bull run. The BTC delisting on AnyPay came as a surprise to the entire crypto community so now its users are wondering how to spend BTC far away from this platform. The Crypto Payment platform blamed the delisting on how susceptible the crypto is to the double-spending problem. Since the advent of cryptocurrency, the core principles of it was its irreversibility. Once the tokens have been sent, there was not a single way to retrieve them. Now, you can apparently cancel already sent BTC tokens and this was one of the reasons that AnyPay decided to give up on Bitcoin. Prior to these developments, the chargeback crimes were unheard of in the crypto community. The business owners even started accepting Bitcoin as a PoS method of payment. Chargeback is when a fraudulent customer undoes the completed transaction in a bid to scam one trader while still holding on to the product. By introducing Replace by Fee, the chargeback crimes became the cause of huge concerns in the crypto space. The Replace by Fee was supposed to enable faster transaction speed but it left the option open to completely cancel a transaction. This option was only available on the full mode BTC software but in recent times, there were several other mobile applications that were integrating the feature. This left BTC payments open to chargeback frauds. The former CEO of Gyft Vinny Lingham, disclosed how bad the RBF was for his business in 2018 and he said:
“We processed over 100,000 transactions with amounts from $5-2000/transaction with no double spends. Over $25m in sales and the first time we got a double-spend attack was after RBF was introduced.”
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Lebanese People Turn To Bitcoin To Escape Dwindling Economy

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The country of Lebanon is having a weak economy which is in deep trouble. All of this leads the Lebanese people to embrace Bitcoin (BTC) and altcoins in an attempt to escape the banking system and protect their savings from dwindling as the fiat currency which is the Lebanese pound continues to struggle. We can see that Lebanese banks have attempted to halt a potential run on the pound by imposing informal capital controls and forcing the customers to withdraw their savings in fiat at the official exchange rates. The regulation crypto news show that cryptocurrency is not something the government is looking up to - but the Lebanese people have already made the switch. According to reports from Al Jazeera, the nation is experiencing a "Bitcoin boom." Not only the Lebanese are actively following the Bitcoin price news - they are purchasing BTC more and more at a rate which is now just over LBP 1,500 to the United States dollar. This is still a far cry from the parallel exchange rates of about LBP 2,500 per dollar. Additionally, their withdrawals are now limited to between $50 and just a few hundred dollars a month. The transfers abroad were recently capped at $50,000 per year, as the report shows. Al Jazeera also quoted Mahmoud Dgheim, one of the Lebanese people who are trading Bitcoin. This specific person has been active in the market since 2015 and has an interesting view on the dominant coin. He said:
“Right now, Lebanese are interested in escaping tight restrictions on cash withdrawals and transfers. They basically want financial freedom. If you want to go around the banking system, Bitcoin is a solution.”
What is also important to note is that last year, the government unveiled new tax plans - a move that led to a series of angry protests. At the time, protesters called on Lebanon's established political class to step aside, accusing the government of corruption and incompetence. The authorities in the country just spoke to the International Monetary Fund (IMF), asking them to help find a solution to manage the country's debt. Meanwhile, the Lebanese people have already considered options like Bitcoin which is why they are featured in the crypto news by Al Jazeera and many other news portals. https://twitter.com/CryptoLira/status/1214206996406243329
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