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:
- Bitcoin will be increasingly used as a store of value.
- The price of Bitcoin will rise again and head for new all-time highs.
- Select altcoins will rise from relative obscurity to as much as 20 times their previous all-time highs.
- A select group of cryptos will compete to build a new kind of internet.
- Another select group of cryptocurrencies will disrupt the world of banking.
- Bitcoin me-too coins will fade away.
- 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.
Amazon Pay VP Shows That There Are No Current Plans For Crypto
“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.
Altcoins Suffer And Remain Sideways, Bitcoin Goes Higher
Libra Testnet Peeks At The Crypto Future That Facebook Is Building
“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?
US Banking Committee Senate Sets Hearing For Facebook’s Crypto Project
“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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- Amazon Pay VP Shows That There Are No Current Plans For Crypto
- Altcoins Suffer And Remain Sideways, Bitcoin Goes Higher
- US Congresswoman Wants Facebook To Pause Its Crypto Plans
- Bitcoin YTD Gains At 151% So Far, New Increases Are Likely
- Libra Testnet Peeks At The Crypto Future That Facebook Is Building
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