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Weiss Ratings’ Report Releases A List Of Crypto Predictions For 2019

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It’s that time of the year…

The time when a lot of companies release reports and predict the future cryptocurrency news by estimating goals, targets and prices for the world of cryptocurrencies while pinpointing the rise of Bitcoin and many other altcoins.

Weiss Cryptocurrency Ratings is one of those firms. With its recently published list of predictions, the firm confirmed its optimism and the potential bullish action that could happen in 2019 in the world of crypto.

As their article starts off, 2018 was horrendous for crypto but has also been filled with positive news when it comes to fundamentals. Some of the cited positives, according to the company, included developments such as the Lighting Network (LN), the EOS mainnet, Hashgraph and Holochain.

Their other seven predictions for the crypto market in 2019 include:

  1.  Bitcoin will be increasingly used as a store of value.
  2.  The price of Bitcoin will rise again and head for new all-time highs.
  3.  Select altcoins will rise from relative obscurity to as much as 20 times their previous all-time highs.
  4.  A select group of cryptos will compete to build a new kind of internet.
  5.  Another select group of cryptocurrencies will disrupt the world of banking.
  6.  Bitcoin me-too coins will fade away.
  7.  New coins will rocket to the top 10.

Many of these predictions are following logically with the beliefs of investors and Bitcoin supporters. However, the last two also predict that new coins could penetrate into the top 10 and bring new gains for many investments.

Ultimately, we’ll just have to wait and see what happens in the coming months and years and hope that these predictions are closer to reality as every day goes by.

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Altcoin News

Amazon Pay VP Shows That There Are No Current Plans For Crypto

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amazon pay vp
As the latest cryptocurrency news show, Amazon is thinking of creating its own cryptocurrency such as Facebook's Libra in several years time, according to a senior executive and their plans. All of this was revealed by the Amazon Pay VP a conference on June 10. In fact, it was the Fortune Brainstorm Finance 2019 event which hosted Patrick Gaulthier, who is the vice president of Amazon Pay. He said that the kind of value transfer system that Facebook unveiled this week was probably a step too far in the current climate.
“It’s fresh, it’s speculative; at Amazon, we don’t really deal with the speculative, in the now,” the Amazon Pay VP said.
Facebook continues to cause a stir in cryptocurrency, financial and government circles after the first publicity material around Libra went live. Billed as a network that is designed to allow users to send money like messages or pictures on social media, this scheme has attracted a lot of talks because of its technical setup and roadmap. Some lawmakers have already gone as far as to request the company halt development altogether. The altcoin news also show that there is a potential alternative to fiat money and central banks. Many commentators have suggested that some governments such as Russia, will seek to block Facebook and any other product supporting Libra. As of recently, the United States Senate Banking Committee revealed that it will hold a dedicated hearing on the cryptocurrency next month, as we reported in our coming altcoin news. As the Amazon Pay VP noted, the company has so far steered clear of many cryptocurrency implementation despite the various rumors in recent years. Depending on the future evolvement of the space, the retail giant may reconsidered the Libra-style crypto option in the mid to long run. The cryptocurrency community honestly hopes that this will be the case - mostly because everyone expects a decent rival to Facebook with its cryptocurrency project.
“At Amazon, we deal with data a lot, so I’ll be happy to have that conversation two or three years from now,” Gaulthier finalized, delaying the topic about cryptocurrencies once again.
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Altcoins Suffer And Remain Sideways, Bitcoin Goes Higher

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The new crypto market wrap on our altcoin news site shows that the altcoins are now struggling and are apparently getting eaten while Bitcoin is making new leaps forward to the $9,300 level, with 151% in yearly gains up to date. As altcoins suffer, Bitcoin breaks out again with one hour spikes, with the previous one sending it to an intraday high of $9,350. The backup which started the day made the crypto markets vulnerable. As BTC hovers around its highest price for over a year, there is a huge wall of resistance just above this level, so further consolidation is definitely likely for the coming days. The fact that altcoins suffer now is best illustrated by a number of them featured in our latest cryptocurrency news. Ethereum (ETH), for example, has not even gained off Bitcoin's 2% pump. The cryptocurrency still remains stagnant below $270 and there are further losses to its price. Despite the support at $260 which is holding, there is very little momentum for the biggest altcoin this week. Right now, the outlook of the crypto market shows that the top ten has done very little over the past 24 hours with most of the coins moving less than 1% in either direction. The biggest movement, as many best cryptocurrency news sites noted, was the one from Stellar which dropped another 2% and is still weak. While altcoins suffer, BNB is also down by a similar amount of 2%. During the Asian trading today, little is going on. Monero is the only altcoin which is gaining as it makes a 3% surge to the top $100. The losing 3% are Cosmos and NEO, while Tezos is dropping out of the top twenty and is dumping another 4% on the day. The only altcoin which is gaining while altcoins suffer is MaidSafeCoin. With a 13% surge, the relatively new and popular altcoin is gaining due to the anti Facebook rhetoric. https://twitter.com/maidsafe/status/1141332767998906368 As the coming altcoin news show, Egretia is the second best altcoin on the day, grabbing 8% while Insight Chain dropped 12%. Ardor is also falling hard with a 7% loss on the day. The total crypto market capitalization has increased by $2 billion or so today, which is pretty much all Bitcoin as the dominant cryptocurrency drives the markets to $288 billion. Its dominance right now is over 57% while altcoins suffer and remain asleep.
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Libra Testnet Peeks At The Crypto Future That Facebook Is Building

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Facebook has recently announced its blockchain/altcoin project named Libra, going viral on many best cryptocurrency news sites for launching a complete blockchain with new programming language in a matter of months. The official document, the Libra testnet, details all of the documentation that is released with the project, giving a lot of insight into its philosophy and design of the new blockchain. Named Libra and not "GlobalCoin" as previously dubbed, Facebook is navigating towards a bright cryptocurrency future. The chain sports a new programming language (just like Ethereum did in the altcoin news before) - called Move. With this, Facebook says that it aims to create a "safe" place for people to develop with digital assets. In the cryptocurrency terms, that is called the Libra testnet. Nonetheless, Facebook is one of the more developer-friendly blockchain projects that you will see - with a vast documentation including gems such as the following:
“Libra is built on a secure, scalable, and reliable blockchain. It is backed by a reserve of assets designed to give it intrinsic value and is governed by the independent Libra Association tasked with evolving the ecosystem.”
With this, developers will be able to write programs in the Move language which can run on the Libra blockchain. As the Libra testnet also notes, anything that you can imagine would be possible - from opening a savings account to opening a merchant account to maybe even some kind of lottery system, the latest cryptocurrency news show. It is evident that Facebook plans to build an economy outside of the regular government view - and a digital currency which could open many doors around the world. From another perspective, it is definitely not absurd for governments to consider the Libra testnet and accept the coin for certain services. As the Libra whitepaper shows:
“For too many, parts of the financial system look like telecommunication networks pre-internet. Twenty years ago, the average price to send a text message in Europe was 16 cents per message.3 Now everyone with a smartphone can communicate across the world for free with a basic data plan. Back then, telecommunications prices were high but uniform; whereas today, access to financial services is limited or restricted for those who need it most — those impacted by cost, reliability, and the ability to seamlessly send money.”
The big question that everyone has is the following... Are we on the verge of a new era of peer-to-peer commerce?
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US Banking Committee Senate Sets Hearing For Facebook’s Crypto Project

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The US Banking Committee Senate has officially set a hearing in which it will hear testimony on the mega popular Facebook Libra cryptocurrency project which is everywhere in the coming altcoin news. Set for July 16, the hearing will address many questions in regards to the new cryptocurrency. As the economic news site MarketWatch reported on June 19, the social media giant released the white paper for its Libra token yesterday. This stablecoin will operate on a native eponymous blockchain and will apparently be backed by a basket of reserve assets that are “designed to give it intrinsic value” and mitigate some volatility fluctuations. Following the official release of the project, he US banking committee and regulators from it expressed their concern about the project's possible effects towards financial stability. For example, Rep. Maxine Waters, who is a chairwoman of the United States House of Representatives' Financial Services Committee, demanded that Facebook should halt the project's development during this in-depth regulatory investigation.
“Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action.”
On July 16, the US Banking Committee will hold a hearing titled "Examining Facebook's Proposed Digital Currency and Data Privacy Considerations." Jerome Powell, who is the head of the US Federal Reserve, was featured on many best cryptocurrency news sites for his recent announcement in which he said:
“[Facebook] has made quite broad rounds around the world with regulators, supervisors and lots of people to discuss their plans and that certainly includes us.”
As government officials in other countries noted, there is a lot of doubts and concerns about the new Facebook project. One of them was the French Minister of Economy and Finance Bruno Le MAire, who noted that the government intends to "ask for guarantees" from Facebook in regards to its Libra cryptocurrency project. Earlier today, other altcoin news spread showing that the Chairman of the Russian State Duma Committee on Financial Markets, Anatoly Aksakov, said that the country won't legalize the use of Facebook's Libra cryptocurrency.
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