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Massive Bitcoin Rally Won’t Save Nvidia’s Crashing Stock: Report

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Massive bitcoin rally won’t be the hero who saves the negative earnings of Nvidia. The company blamed the harsh crypto winter for its failing stock but let’s see if that really is the case in today’s coming altcoin news.

The massive bitcoin rally in the past couple of weeks signs there is a lot of industries that are getting into crypto and increasing the demand and valuation of the number one cryptocurrency. However, Nvidia seems to be blaming the prolonged bear market for the low level of earnings. The shareholders are also not counting on another cryptocurrency to rescue their investments.

The Nvidia stock still continues to crash and the Q1 earnings report show that the company is not looking in its top shape. Wall Street analysts note that the first quarter is showing almost no signs of recovery in demand for the products of the company. Many believe that the main weakness in the company lies in the data center division.

Nvidia just finished the first quarter of the fiscal year 2020. When the sales exploded previously and later declined, the CEO Jensen Huang noted that the increased data center business is the perfect evidence that the company has much more to offer. However, now it doesn’t look much like it.

The Q1 revenue is expected to be down by almost 33 percent since 2018. The increased demand for cryptocurrencies mainly started from altcoins such as Monero and Ethereum where GPU mining is still dominant. Nvidia previously stated that the performance of the company next year will be either stagnant or will get worse.

As reported in the best cryptocurrency news sites, the ups and downs in cryptocurrency are more extreme than other industries so it is tough for traditional companies to endure. The final blows for the companies came at the end of the massive bitcoin rally in 2017 when the price crashed and took down all other major cryptocurrencies with it. The Nvidia stock got in a bad position since and is now waiting for the next shot to rise.

Nvidia is likely waiting for the resurgence fuelled by Ethereum but unfortunately, ETH will be moving to a proof-of-stake model so the demand for mining equipment will decline dramatically.

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Peter Schiff Will Help Bitcoin With His Negativism: Binance CZ

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The CEO of Binance Changpeng Zhao, claims that Peter Schiff will only help bitcoin with his negativism as he will push more people into doing the opposite since he lost all bitcoins as we reported previously in our Bitcoin news now.Even though Peter Schiff lost all of his bitcoins, the saga continues to attract the attention of the wider crypto community. Binance’s CEO Changpeng Zhao noted that Peter Schiff will help the benchmark cryptocurrency since his stances will turn people pro-Bitcoin. The recent issues he had with his lost coins became viral in social media where most of the crypto community reacted quickly by implying that he was incompetent to hold on to his coins which might have been the real issue.Aside from making the entire community angry, the situation had another effect and the controversies surrounding Schiff losing his coins are bringing a lot of global attention to Bitcoin. According to Changpeng Zhao, Bitcoin actually needs his negative stance after he said that the ‘’illogical reasoning most people will do exactly opposite of what he says.’’ Peter Schiff is a popular economist and a true defender of Gold while at the same time uses every chance he has to trash the ‘’new gold’’ known as Bitcoin. He also wrote on Twitter that he has lost all access to his bitcoin holdings saying that his wallet ‘’got corrupted somehow’’ and his password is ‘’no longer valid.’’Schiff blamed bitcoin and the wallet claimed that it simply stopped functioning. While the community pointed out ironically that he didn’t create a proper backup as everyone else does, Schiff repeatedly said that he had lost his password. The drama resolved soon after and the popular economist explained that his real problem came because he ‘’ mistook my PIN for my password.’’ He then blamed the CEO of ShapeShift’s Eric Voorhees because he was initially the one who helped him set up the wallet and he never explained how it works. Schiff’s situation attracted serious attention to himself but also to the rest of the crypto market since he is well known for his negative views against the largest digital asset, but somehow he ended up promoting it.
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Bitcoin’s GitHub Community Reaches More Than 3000 Members

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According to the latest data, Bitcoin’s GitHub community not has more than 3000 members so let’s read more about it in bitcoin latest news.Github is extremely well known for being the best online develop hub where experts and amateurs can work together and review codes, build software together or manage projects. This is a place where any code can be taken into pieces, investigated and studied and then improved if there’s a need for that. With a platform such as GitHub, it would be very hard to imagine the concept of digital currencies as money since there’s nothing but code underneath the surface would not get the attention of the developers. Bitcoin stands in high regard because of its unique nature and promises to change the entire financial world.Now, according to the recent data from GitGitRun.com, it seems that Bitcoin’s Github community managed to reach about 2,800 members yesterday but as the Bitcoin community member of Reddit u/THE_ReD_Truck noted, not all repos are tracked after he concluded that the real number of Bitcoin developers on GitHub could easily be over 3,000. It’s not that easy to find the correct number of contributors to any community since many of them is not tracked and others are counted twice so these problems make it complicated to determine the true size of the community despite the data showing that the number of tracked contributors will continue to rise.Regardless of the number, the fact that Bitcoin is getting much more developers that are willing to improve its technology, is good news. Inspecting the codes and trying to improve it, by coming up with new patches and improvements, thinking up ways to solve the problems that Bitcoin always had, it’s not an easy task. Bitcoin adoption is spreading across the world and the same is true for the developers which can benefit the rest of the community along the way.The GitHub community is working on blockchain technology but they are facing a lot of difficulties especially in 2 019 when the platform started identifying and banning Iranian accounts because of the US trade restrictions. This prevented the developers from Iran from participating in software projects that required private repositories or paid services which brought serious consequences for the entire community but also for the personal lives of the developers.
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WEF2020 Announces Global Consortium For Regulating Bitcoin

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At the WEF2020 in Davos, Switzerland, there was a significant mark on the crypto market and the World Economic Forum announced the first global consortium focusing on creating a regulatory framework for the governance digital currencies including bitcoin and stablecoins. In our latest bitcoin news today, we find out more about their ideas.The World Economic Forum for 2020 happened the past week in Davos and cryptocurrencies were the center of attention. Yesterday during the last day of the consortium, the forum announced the creating of the first Global consortium for Digital Currency Governance. It will mainly consist of financial institutions, government representatives, international organizations, leading companies, academics, NGOs, technical experts and other members of the Forum’s communities.The report showed that if digital currencies receive proper financial inclusion, they will have to get paired with good governance. Therefore at the WEF2020, the forum discussed whether it is needed to establish a framework of regulations by implementing innovative approaches. In order to do that, the participants will have to use ‘’efficiency, speed, inter-operability, inclusivity, and transparency.’’ The Consortium will work with both the private and public sectors to explore the presented opportunities.According to the founder and Executive Chairman of the WEF, Klaus Schwab, ‘’ digital currency, a cross-cutting topic that requires input across sectors, functions, and geographies, is a key area of interest for the Forum.’’ The Governor of the Bank of England also commented:
 “Governance is the core pillar of any form of digital currency. It is critical that any framework on digital currencies ensures security, efficiency, and legitimacy of payments while ensuring fair and open competition. We welcome the WEF’s platform to help develop a robust governance framework for inclusion through digital currencies.”
As per the recent reports, the efforts of creating a regulatory framework on cryptocurrencies are getting more serious. As of this month, the European Union introduced an updated version of the 5th anti-money laundering directive and had increased regulatory focus. All of the crypto-related businesses are operating from Europe and they have to follow the rules which include a more in-depth know your customer process, filling suspicious activity reports and conduct transaction monitoring with law enforcement.  After the WEF2020, the world watchdogs will try to establish a framework of regulations for crypto so it will be extremely interesting to see whether this will be beneficial for the market.
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Investors Data: Bitcoin Is The Most Popular Crypto Asset

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The investors data that is received from CoinMakretCap, about Bitcoin (BTC) and cryptocurrencies market capitalization figures, besides the bigger reliability than the data on daily volumes, only informs about how much of every cryptocurrency is out there as we are reading further in the bitcoin latest news.However, with the huge amount of these coins being held by early adopters, whales, exchange wallets or just forever lost it is not providing an answer to the question. Which are the cryptos that investors are holding in their portfolios in reality? Luckily the Shrimpy Portfolio Management has published a snapshot from their extensive sample of investors data to provide some insight.With disregard for market capitalization, we will set our focus on the dominance of Bitcoin (BTC) and other cryptos within the portfolios and their popularity. It is indicated by the dominance in itself that the average weighting of certain crypto within a certain portfolio. This is while ignoring the relative values of the portfolios. For example, a $100 million portfolio contains 25% Bitcoin (BTC) and a $10k portfolio containing 75% Bitcoin (BTC), would still average out 50% of Bitcoin (BTC).The popularity measured what is the percentage of the sample portfolios that hold certain crypto while ignoring the relative proportion in each. For example, if 10 portfolios contained 5% of Ethereum (ETH) the popularity of Ethereum (ETH) would have been 100%. It is obvious that there is likely some overlap among Bitcoin (BTC), crypto market capitalizations, and our dominance and popularity metrics. Let as taking in consideration popularity.Shrimpy had an unsurprising discovery that Bitcoin (BTC) is the most popular cryptocurrency, that appears in 72.4% of the portfolios. But, Ethereum (ETH) is also held by something more than half of the investors at 54.5%. Cryptocurrencies of prominent popularity were Binance Coin (40.1%), XRP (38.7%), Litecoin (37.7%), Stellar (32%), EOS (27%), Cardano (26.3%), Bitcoin Cash (24.5%) and Monero (21.4%). Naturally, Bitcoin (BTC) is again on the top in the dominance metric, making up an average of 26% of the portfolios sampled. But, Ethereum (ETH) is of an average weighting of 7.4%, unexpectedly if we take into consideration the market capitalization of the coin. Shrimpy also published a report in which it tries to asses the actual number of trades that are processed by cryptocurrency exchanges at a daily level.
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