The biggest online Samsung community named SamMobile is in the focus of this post on our DC Forecasts crypto news site – after spilling out rumours that the electronics giant is planning to integrate a cold wallet system into its upcoming Galaxy 10 phone.
As the senior executive editor at SamMobile wrote:
“After hearing about the trademarks for Samsung’s blockchain and cryptocurrency software, we decided to dig around a little deeper. We can confirm that the company is indeed developing one and that it may be launched with the Galaxy S10.”
Samsung, which is the largest conglomerate in South Korea, has been most dominant over many of the country’s major sectors such as insurance, online payments, car manufacturing, asset management as well as property development – demonstrating a clear interest towards the cryptocurrency sector.
Speaking of, Samsung entered the cryptocurrency sector with a venture focused on Bitcoin mining, creating mining equipment directly from its base in Suwon (South Korea). Over the past couple of months, other reports claimed that the tech giant has been working with Halong Mining in China and Squire in Canada, but as of December the official distributors of Samsung’s ASIC mining chips remain unclear.
If the company is about to enter the cryptocurrency exchange market, it will have to build a new infrastructure from the ground up. According to SamMobile, a wallet may get integrated into the Samsung Galaxy S10, allowing users to import their data from wallets such as MetaMask and Trust Wallet to transact natively with the smartphone.
“Samsung’s cold wallet app will enable users to import their existing wallets from third-party services like Metamask or TrustWallet. They will also be able to create a new one in the app itself. The cryptocurrencies and tokens supported initially may include Bitcoin, Ethereum, Ethereum-derived token ERC20 and Bitcoin Cash,” the publication reported.
Bitcoin Bounces Back Near $10k, Analysts Aren’t Convinced Of A Run
“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.
Bitcoin 30-Day Trading Volume Hits Records High Of $770 Billion
Bridgewater Founder Ray Dalio Makes A Bullish Prediction For BTC
“Additionally, for reasons I will explain in the near future, most investors are underweighted in such assets, meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset. For this reason, I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio.”The Bridgewater founder advocated that gold is the only right option to choose for everyone that is looking to diversify their portfolio just in a time where most of the world seems to be investing in equities. This is not the only reason why Dalio believes that gold will witness a major surge in inflows. According to him, the global conflicts and the depreciating value of money will force them to go on the way back to safety. Gold will be the only asset to choose from for all the investors that are looking to store their wealth at a time when the central banks are trying to keep the interest rates low. Dalio’s comments could make sense a decade ago when bitcoin was first launched. Gold is universally considered to be a safe-haven asset that the investors buy in order to protect their wealth in difficult times. Bitcoin, on the other hand, is gaining the confidence of institutional investors and there are only a few people who believe that the cryptocurrency will replace the gold. Dalio somehow forgot that the times have changed and bitcoin is now considered as the perfect replacement for gold as noted in the coming altcoin news previously.
Bear Euphoria Continues As Bitcoin Plummets Below $10,000
“Bull market corrections are unavoidable and should be welcome. Assets that go too far up too fast tend to crash the hardest. As everyone who speculated with the price of bitcoin during 2017 and 2018 well knows.”We can also see the Bitcoin hater Nouriel Roubini who is featured on many best cryptocurrency news sites for his pessimistic statement towards BTC and optimistic towards the Trump-Congress hearings. He said:
“Bitcoin has crashed by almost 30% in the last week and over 15% in the last day. As Congress, Mnuchin, Trump and myself point out that the criminal scams of crypto shitcoins-land will be cracked down on, the scammers and criminals know their days of unregulated casinos are gone!”As a reminder, the bear euphoria has made BTC correct more than eight times during the previous bull run - and Bitcoin lost more than 30% in the same period before reaching the all time high close to $20,000 at the end of 2017.
Join us on Facebook
- Web Search Stats Show Rising Interest For Facebook Libra
- French Authorities Will Approve Crypto Regulations For ICOs & Exchanges
- Blockchain Investments Could Drop 60% This Year Due To Bitcoin: Report
- Bitcoin Bounces Back Near $10k, Analysts Aren’t Convinced Of A Run
- G7 Approves The Japan Crypto-Based SWIFT Alternative
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Regulation5 days ago
IRS Confirms That It Has Trained Staff For Detecting Crypto Wallets
Altcoin News5 days ago
Crypto Market Remains Vulnerable: More Losses On The Way?
Bitcoin News3 days ago
Indian Police Rescues Two BTC Traders From Two-Week Long Captivity
Altcoin News5 days ago
McAfee Is Sure That The Current BTC And Exile Systems Can’t Survive
Altcoin News3 days ago
Dogecoin Surged 40% After Binance Exchange Listing
Bitcoin News4 days ago
BTC Trader Hints At $16,000 BTC Price Prediction In July
Press Releases2 days ago
Liechtenstein Financial Market Authority Approves State-of-the-Art Tokenized Real Estate Investment Product
Ethereum News5 days ago
Ethereum Based Augur Enhancement App Veil Shuts Down Its Shop