According to the Russian Public Opinion Research Center (VTsIOM), a conducted survey shows that only 2 percent of the Russian population invested in Bitcoin. Let’s find out more about the report in the latest cryptocurrency news below.
The VTsIOM is the oldest institute for polls conducting in post-Soviet Russia and the results show that the popularity of Bitcoin in the country is at a very low level. About two-thirds of the Russian population believes that investing in cryptocurrency is a really bad investment.
The research center didn’t provide a time or date for the poll or how many respondents actually took part in the survey. With this data, it turns out that 56 percent of Russians are aware of Bitcoin while 18 percent have stated that they only heard about the term. However, the institute claims that the factual knowledge for the cryptocurrency is extremely low since many of those who have heard of it; believe that the asset is banned in the country.
The government still hasn’t created a federal crypto regulation despite the passed crypto draft bill in the Russian parliament in 2018. The draft was sent back to the first reading since many of the concepts were lacking. In February, the Russian President Vladimir Putin gave another deadline for the country to adopt a regulation which is by the end of June.
The poll results show that only 9 percent of the Russian citizens have a great deal of knowledge for the cryptocurrency. The awareness rate is higher in the male population rather than the females. The age limit for people who know about Bitcoin is about 25-year-olds and most of them have a higher degree of education. Most of the people who know about Bitcoin come from Moscow and Saint Petersburg.
Back in 2018, Russian Forbes reported that only 5 percent of the residents in Moscow use non-cash methods of payments and less than 5 are ready to start using cryptocurrencies instead.
Dr. Doom Writes That Bitcoin Bears Are ‘Poised’ At This Point
"BitMEX insiders revealed to me that this exchange is also used daily for money laundering on a massive scale by terrorists and other criminals from Russia, Iran, and elsewhere," Roubini wrote in a blog post. "The exchange does nothing to stop this, as it profits from these transactions."Roubini (Dr. Doom) also clashed with the chief executive of BitMEX, Arthur Hayes, at the Asia Blockchain Summit earlier this month. At the time, he branded Bitcoin "overhyped" and a "cesspool."
"Some of the biggest crypto players may be openly involved in systematic illegality," Roubini wrote, adding: "BitMEX [is] an unregulated trillion-dollar exchange of crypto derivatives that is domiciled in the Seychelles but active globally ... involves peddling to 'degenerate gamblers' (meaning clueless retail investors) crypto derivatives with 100-to-one leverage."On the topic of margin trading which is hot in the latest cryptocurrency news, Dr. Doom is again pessimistic. However, there are many other analysts which are optimistic on crypto. One of them is Simon Peters, analyst at eToro. As Peters said:
“Crypto bears are poised to pounce, after several high-profile U.S. government officials took aim at bitcoin and Facebook's Libra this week."Currently, Bitcoin is eyeing $10,000 in a new upward run which stabilized the market overnight.
Coinbase Is Rolling Out New Data Tools For ‘First Time’ Crypto Investors
“The top holder activity signal is the percentage of Coinbase customers with large balances of an asset (top 10%) who have net increased (bought) or decreased (sold) their positions in that asset through trading over the last 24 hours,” Coinbase explained in a blog post which went viral in the altcoin news. “This is updated approximately every 2 hours.”Speaking to CoinDesk, one Coinbase spokesperson further noted that top holder activity would be aggregated from all of the individual Coinbase accounts across the exchange - excluding the ones set up by institutions. Beyond the sharing metrics on Coinbase power users, the fact that Coinbase is rolling out their data tools will apparently help retail users make more informed decisions. The Coinbase customers will also be able to see the median number of days an asset is held by traders on the exchange before it is sold or moved to another address, the latest cryptocurrency news show. Another tool which Coinbase is rolling out will gauge the popularity of assets on Coinbase as well as their relative price correlations to other crypto assets. All of the "exclusive" data tools are available to any user for free starting from today.
“For individual investors, especially those new to crypto, we hope these new signals will encourage more informed management of a diversified crypto portfolio. We want trading signals to help first-time investors build the right portfolio to suit their investment goals,” a spokesperson from Coinbase noted.Now that Coinbase is rolling out these data tools, a senior engineer from the company named Will Drevo says that the platform's top crypto accounts have a tendency to buy rather than sell their portfolio positions.
“Historically, when top holders are either unusually bullish or bearish this has been indicative of changing market conditions, but not always," Drevo wrote in another post.Founded in 2012, Coinbase has snagged a $8 billion valuation this year.
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“Bitcoin had a nice bounce that tapped the previous 4hr chart low and I honestly think it needs to push up more before continuation down,” investor and trader Josh Rager wrote in his Bitcoin price update on Twitter late Wednesday.In the altcoin news, we can see that the increased momentum and the fact that Bitcoin bounces back has made a lot of altcoins wake up. It seems like Bitcoin's move to the upside has a more profound impact on the altcoin markets which had long failed to halt their declines. A lot of tokens in the top 20 cryptocurrencies by market cap showed improved performance on Thursday, with Ethereum (ETH) gaining 6.1% to hit $217. Litecoin (LTC) has also been growing as Bitcoin bounces back - it managed to post 15% gains while the embattled Bitcoin SV (BSV) also achieved double-figure growth. Previously, the bearish warnings had appeared - specifically from Brandt - suggesting that altcoin markets would not recover at all after the Bitcoin gains eclipsed them in 2019. The price of Bitcoin is stormy and its dominance sits at 65.3%. The total market cap has also regained a bit, and is currently at $268 billion.
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