In the latest cryptocurrency news we have Vinny Lingham who is the chief executive of the blockchain startup Civic and a prominent investor. As of recently, Lingham issued a multi-part thread on the matter and broke down on why he believes that the ongoing Bitcoin Rally might not be sustainable.
What’s also interesting is the fact that Lingham pins his thought process to a single fact – altcoins – or what the blockchain entrepreur labeled as “various crypto assets” which have yet to decouple from the price action of Bitcoin.
Many people believe that the crypto winter is over. Here are some of my unfiltered thoughts on this topic. Charts & technicals aside, I don’t believe this rally is sustainable for one reason: The market has not yet decoupled the various crypto assets from Bitcoin.
— Vinny Lingham (@VinnyLingham) April 10, 2019
According to Lingham’s remarks, if Bitcoin rallies or collapses, so will altcoins. Even though these moves are often on different magnitures, the overall trends are similar.
“This makes no sense. How can we have a situation where the market price of one asset dictates the value ascribed to other unrelated assets ,irrespective of whether or not anything changes in their own separate networks,” Lingham elaborated.
He also concluded that if Bitcoin is to enter a sustainable bull run which is backed by industry developments rather than a hype cycle, other assets will also need todecouple from BTC.
And while Lingham looks hesitant when admitting that bears are done with their bloodshed, the industry insider claimed that Bitcoin moving above $6,200 will put the asset into a “bull run” territory.
Simply put, $6,000 may be a crucial target for Bitcoin because it is also a margin where BTC held for more than two or three months in the middle of last year, making analysts think that it was the bottom and the penultimate level of support.
Right now, the predictions vary from analyst to analyst and until BTC convincingly surpasses $6,000 it would be irrational to determine if the market is in a “bull” or a “bear” state.
For more price predictions, analyses and opinions, keep on reading DC Forecasts and see how we entered the list of best cryptocurrency news sites!
Coinbase Expands Its Crypto Offering To 11 More Countries
“This could take the form of decentralized versions of traditional financial services like lending or micropayments or truly novel crypto applications that no one has even thought of yet. The ability to convert from one crypto to another will form the backbone of this new decentralized economy.”Meanwhile, the news that Coinbase expands allow customers in the aforementioned countries to store, trade, send and receive cryptocurrencies. As the latest cryptocurrency news show, the exchange also suggested that cryptocurrencies are moving from the current "investment phase" into the "utility phase" following a number of new use cases. Recently, the company introduced a lot of new developments, one of which was featured in the altcoin news section. It was the added support for EOS (EOS), Maker (MKR) and Augur (REP) which went viral and expanded into cross-border payments. The latter development reportedly enables users to send as well as receive money instantly and convert them into local currency. As part of the news that Coinbase expands, the report concluded:
"Realizing our mission of creating an open financial system for the world starts with making it as easy as possible to access crypto. With today’s announcement, we’re happy to take an important step in that direction."Earlier in April this year, Coinbase also launched the Coinbase Card in a partnership with Visa, enabling its United Kingdom-based customers to pay in-store and online using cryptocurrencies. As a result, the new service will allow Coinbase to instantly convert the customers' cryptocurrency funds into fiat currency in order to complete each purchase. This is definitely a lot of news coverage showing that Coinbase expands in different directions and is on a mission to offer various trading options globally.
CoinMarketCap Crypto App Is Live, Offering A Lot Of Added Features
“We believe that our users will like the new style and the features we’ve added to these apps, and we’ll continue to update the app regularly based on the feedback we receive.”The new CoinMarketCap crypto app will prompt users to sign up for an account on the app in order to save their portfolios and/or watchlists. The company also said that it plans to allow app accounts to be directly synced with the website at some point in the future. Meanwhile, the app also features a section for crypto "gainers" and "losers" as well as industry news. All of the data, as the firm unveiled, is made available through the API product which the firm uses - and was launched last August. Aside from the CoinMarketCap crypto app, the company made the cryptocurrency news section lately for launching two benchmark indices that cover the top 200 cryptocurrencies by market capitalization. One of them was with Bitcoin (BTC) in it and the other without - shared on financial data feeds from Nasdaq Global Index Data Service (GIDS), Bloomberg Terminal, Thomson Reuters Eikon (Refinitiv) and Germany’s Börse Stuttgart, as well as on its own platform. The app is already launched for iOS (since May 2018) but is getting a revamp now, along with the Android CoinMarketCap crypto app. All of the work is developed from the blockchain analytics startup Flipside.
BTC To $10k: Major Market Expert Says Crypto Winter Is Over
“Money flowing into stablecoins is going to lift bitcoin because fundamentally money flowing into crypto is what sustains and raises prices.”Chambers also explained that crypto assets need an inflow of new money to maintain the increasing supply as new blocks are mined. When it comes to his BTC to $10k prediction, he asserted that supply and demand is what creates the price and said that for “new supply to be matched at current levels, more than $3.3 billion dollars has to flow into bitcoin to make it go up.” Many best cryptocurrency news sites recently went with headlines stating that "Bitcoin is the new gold" and comparing BTC to the gold market which is with an estimated $5 billion in market capitalization. Even though the crypto market is far from that valuation, BTC is definitely eating into the interest of gold. As Chambers noted, if Bitcoin takes a fraction of the gold market, BTC to $10k could be real and could surpass all previous all time highs.
“Bitcoin winter is over, the price is going up, the only question is how high. For now $6,000 is an easy target and $10,000 a coin this year is not such a hard target. I’m still accumulating,” the market maven concluded.
eToro Blockchain Division Launches A Crypto Exchange, Issuing 8 Stablecoins
“We want to bring crypto and tokenized assets to a wider audience, allowing them to trade with confidence. This is the future of finance. Blockchain will eventually 'eat' traditional financial services through tokenization.”The eToro blockchain division will be led by professionals. According to Assia, the financial services will be transferred to blockchain since the tech brings a new paradigm for asset ownership. He believes that right now, traditional asset classes need to be explored and act as a property that needs to be tokenized. From an altcoin news perspective, it is also important to mention that in March this year, eToro officially launched the platform and crypto asset wallet - when it also announced that it has acquired the smart contracts development company Firmo so that it can explore and add more tokenized assets. A lot of best cryptocurrency news sites have reported the new eToro blockchain division, noting that it is definitely something that the market needed right now.
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