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Analysis

Analysts: BTC Volatility Will Subside In 2019 When Institutional Investors Enter The Market

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FO6E3842CAC44 - Analysts: BTC Volatility Will Subside In 2019 When Institutional Investors Enter The Market

Having the Crypto Winter way past our doorstep and the price of Bitcoin getting massive ups and downs, according to our latest bitcoin news, experts believe that 2019 will be the year when the volatility of the number one crypto asset will subside after the institutional investors enter the market.

Chief investment officer of Apollo Capital Fund in Australia Henrik Andersson said:

 “During the coming year we will see a gradual adoption from institutions. We have the first US university endowments investing in funds.”

According to Novogratz:

 “The fact that David Swensen [Yale’s chief investment officer] put an investment into bitcoin — with his reputation on the line, his endowment on the line — tells you something. Some of the smartest people in the investing world think it’s a store of value.”

Institutional investors got delayed because of the harsh bear market and they are now expected to enter in 2019. They also got scared off from the massive downturn.

Experts argue that mainstream adoption depends on the regulatory clarity and creating better regulatory frameworks in order to stimulate the crypto industry. The United States lawmakers already proposed legislation to prevent manipulating the price of Bitcoin.

For example, the co-founder of Circle, Jeremy Allaire noted:

‘’We have been very active with the Congress, with policymakers.’’

The Congress is taking bold steps for crypto regulation and boosting the blockchain technology in order to become the driver of the economic growth of the country.

In Europe, legislators are also pushing hard for blockchain adoption. Some are even considering issuing their own digital currencies.

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Analysis

New BTC Research: Bitcoin Has Proven To Be The Best Performing Asset

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new btc research
The new BTC research shows that since the launch of the cryptocurrency, BTC was pronounced dead at least 300 times and in the height of the bear market in 2018, a total of 90 times. As we are about to read in the bitcoin news now, the benchmark cryptocurrency has proven to be the best performing asset and a store of value despite everything.As we are going towards the end of 2019, bitcoin is doing well and it managed to carve a niche in the financial system as we know it. Crypto traders, blockchain experts, and researchers all agree that the cryptocurrency offers a strong value proposition. This unique quality enables the digital coin to surpass a number of shortcomings. Since the inception in 2009, the king of cryptocurrencies has grown by more than 164,000% and this is why the distributed ledger technology expert The Crypto Oracle, was 100 percent sure that Bitcoin has proven itself as a solid store of value. According to the new BTC research, we can read that:
‘’I would argue that Bitcoin has proven a good store of value if viewed over a long time frame. Since its existence, it’s been the best performing asset in the world. It’s on the way to being the only non-correlated store of value (SOV) asset in the market, something that is especially valuable in such financial uncertainty around the world.’’
When speaking on financial uncertainty, Enzo Vilani who is a chief strategy officer of Transform Group agrees that Bitcoin has become so strong in times of indiscriminate quantitative easing and he said:
‘’The World Bank and its members are discussing global quantitative easing, and we are at a point where printing money is now a common practice globally and coordinated by governments. One more huge crisis and we will see a shift toward bitcoin by major money.’’
Regarding the question of whether Bitcoin is a proven store of value, many crypto traders see the big potential bitcoin has. Hans HODL who is senior quantitative research at Ikigai stated that Bitcoin has the potential to become one of the greatest stores of value ever. The CTO and co-founder of the full-service blockchain accelerator MouseBelt, Galen Ganzieger, shares the same opinion as he said:
‘’Bitcoin has proven itself as a store of value. While it is less predictable in buying power compared to the US dollar in a short time frame, it is a strong alternative to other currencies and gold.’’
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Analysis

Venture Capitalists Are ‘Ice Cold On Crypto’ Until Next Bull Run: Report

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venture capitalists
The venture capital market and venture capitalists are not very keen on crypto as the latest cryptonews show, mostly because of the volatility and the pressure on the markets. In a bear market like the one we are seeing now, venture capital is definitely not a game that Bitcoin or other cryptocurrencies can qualify to join.The big question we need to ask is - "Are venture capitalists drying up for crypto?"According to a recent dialog on Twitter, the entire industry has gone cold on crypto and projects will require a new investment model. The general consensus of opinion from industry experts is that the emerging technology is here to stay.The debate was actually sparked by this tweet yesterday from an investor:
“From a VC friend: “We are pretty ice cold on crypto. Crypto is more like Cleantech than a normal not-hot sector within tech.  Both are essentially brand new tech stacks that are predicated on broad adoption of new business behaviors.”
As it stands, venture capitalists have gone cold on crypto and a huge percentage of them revealed that the obvious reason for that is the current bear market. Many of the have also lost a lot of their investments due to crippled token prices which are still at around 90% down from their highs when the ICOs were either running or were concluded. This is what triggered the downsizing and decelerating of roadmaps though the projects are still technically alive.For now, investors and venture capitalists are primarily concerned with profits and returns. They ignore the fact that the crypto space is a multiverse of different disruptive technologies. According to Byzantine Labs:
“Blockchain and the internet are two sides of the same democratization coin. One for information and data (internet), the other for currency and value (crypto).”
Another partner at the New York based Placeholder VC named Chris Burniske also spoke about venture capitalists and their lack of interest in crypto, stating that bull markets need to ignite the interest and that this is likely to happen again.
“And yet they’ll rush back during the next bull market and desperately ask for meetings to “get up to speed,” just as they did in 2013 and 2017.”
https://twitter.com/cburniske/status/1186738916424142849Burniske also added that work continues for many crypto projects despite the bear markets - but venture capitalists often rush and ignore this fact with a greater focus on the financial gains made during bull markets. 
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Analysis

IOTA Struggles Another Day, Losses An Additional 0.80%

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iota struggles
IOTA struggles another day and the cryptocurrency even lost an additional 0.80 percent in the last one day to touch 0.2664 USD as we are about to read further in the IOTA news today.Iota will likely find its next resistance at 0.273 USD. IOTA has been down by 0.80 percent over the past 24 hours and the value against the US dollar has also been decreased to a point of 0.2664 USD. It has also been through three price swings over the last day in the range between 0.2657 USD and 0.2744 USD.  The cryptocurrency did manage to open the day at 0.26861392 USD and over the next two hours and approximately three minutes, it was down to 0.26570228 USD thanks to the 1.08 percent freefall. This was also followed by a slight hike of 3.30 percent and it also added 0.00877 USD and place further value at 0.27445749 USD by 19:36. The latest swing of IOTA happened between 19:36 UTC and then at 03:26 UTC which was a swing cost at 0.0083 USD and managed to push the value to 0.26598065 USD.Like the value against USD, the market cap of IOTA has also been pretty badly injured and the market cap on October 20 was 752.93 million USD and it has been down to 440.40 million USD today which shows how IOTA struggles further. IOTA’s 20-day average stands at 0.2742717 USD and the 50-day average is holding at 0.26509259 USD.At the start of spring in May, it turned out that the IOTA price could be better but at the onset of the bearish trend, the price went on a downtrend path. The YTD price charts show that the IOTA price is now moving in the range between $0.24 and $0.51. The price saw many variations as we can see from the charts. From the lower low of $0.2385 on February 5, the price reached a new high of $0.582 on April 8 to an extent of 51 percent. The price is now still sitting below the baseline and it fell to $0.2615 on May 08 and then fell to an extent of 27 percent.
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Analysis

Bitfinex Files For Subpoena, Aiming to Recover $880M In Frozen Funds

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bitfinex files for subpoena
The latest crypto news show that Bitfinex files for subpoena to a US court. The main goal for the exchange with this is to subpoena a former banking executive of a trust company which they believe can help it recover more than $850 million which are now in frozen funds.The exchange submitted a filing on October 18 to a court in California for obtaining the permission to take the deposition testimony of Rondell "Rhon" Clyde Monroe, who is a former vice president of TCA Bancorp. They also seek to obtain documentations of Monroe's communication with Crypto Capital staffers.Now that Bitfinex files for subpoena, the filing shows that Crypto Capital has used one or more accounts held at TCA Bancorp to facilitate the transfer of funds that belong to itself. The exchange believes that Monroe has information and documents that are vital to their claims to over $850 million.This filing comes as part of the ongoing proceedings for Bitfinex, where the exchange seeks to recover around $880 million of its funds held at its payment processor Crypto Capital which was said to be frozen by multiple government agencies.Meanwhile, the exchange is also under investigation by the New York Attorney General's Office for allegedly using a loan from its sister company Tether and covering up the frozen funds without disclosing anything to its customers.As Bitfinex files for subpoena, the filing shows that its relationship with Crypto Capital was well until April last year. This was the time when news emerged showing that funds at Crypto Capital had been seized by authorities in Poland due to money-laundering investigations.Bitfinex also said that in August 2018, Crypto Capital told it that more than $500 million of its funds in both Poland and Portugal were "held up" by regulators in the two countries. The exchange also added that they were pressured to provide more information concerning the frozen banking accounts. Crypto Capital provided a reference letter signed by Monroe from TCA.After the letter showed custody of a little over $300 million of Bitfinex's funds at TCA on behalf of a customer named Global Trade Solutions AG (GTS) doing business as "Crypto Capital" - Bitfinex files for subpoena and is applying to take deposition testimony of Monroe and documentations of his communication with the principal at Crypto Capital, Ozzie Yosef.
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