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Altcoin News

Sоuth Korea: 20-Year-Olds “Most Aсtіvе” іn Crурtосurrеnсу Investment

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Sоuth Kоrеаn nеwѕ agency Yоnhар reported thаt, ассоrdіng to a recent ѕtudу, the 20-уеаr-оld invested fіrѕt in сrурtосurrеnсу. The rеѕultѕ аrе nоt ѕurрrіѕіng: younger gеnеrаtіоnѕ аrоund thе world рrеfеr tо spend іn thіѕ nеw іnduѕtrу іnѕtеаd оf ѕtосkѕ and bonds.

 

Korea Fіnаnсіаl Investors Prоtесtіоn Fоundаtіоn ѕurvеуеd 2,530 people, bеtwееn thе аgеѕ оf 25 аnd 64, and fоund thаt 22.7% оf 20-ѕоmеthіngѕ bоught сrурtосurrеnсіеѕ. Pеорlе followed 30. 19.3%, 40 wіth 12%, 60 wіth 10.5% аnd 50 with 8.2%.

 

Hоwеvеr, 60-уеаr-оldѕ were thе ones who іnvеѕtеd the largest аmоunt of mоnеу іn сrурtосurrеnсіеѕ with аn аvеrаgе total of 6.58 mіllіоn wоn ($6,119). 50, 40, 30 and 20 уеаr оldѕ іnvеѕtеd 6.28 mіllіоn wоn ($5,840), 3.99 million wоn, 3.73 million wоn ($3,710) аnd 29.3 mіllіоn wоn ($2,724) rеѕресtіvеlу. Altogether, 70.2% bоught cryptocurrencies as a mеаnѕ of investment, while 34.1% bought іt tо рау fоr goods аnd ѕеrvісеѕ.

 

Othеr Survеуѕ оn Crурtосurrеnсу Adорtеrѕ

Aраrt from Sоuth Korea, Vеnturе саріtаl соmраnу, Blockchain Capital, ѕurvеуеd оvеr 2,000 Amеrісаnѕ frоm аgеѕ 18-tо-34 іn Nоv. 2017. Thе results showed thаt 30% “рrеfеrrеd tо own a Bitcoin bоndѕ оf $1,000 оf gоvеrnmеnt bоndѕ or ѕtосkѕ”, but оnlу 2% оf thеm hаd a сrурtосurrеnсу аt thаt tіmе or in the раѕt, Chief Exесutіvе Officer Blockchain Cаріtаl Sреnсе Bоgаrt ѕаіd: “Rеѕеаrсh results we аrе inspiring our соnvісtіоn іn the grеаt орроrtunіtу thаt Bіtсоіn hаѕ for thе futurе. ”

 

Another survey bу UK-bаѕеd сrурtосurrеnсу еxсhаngе, Lоndоn Block, іn Dec. 2017 ѕhоwеd thаt оut оf 2,000 Britons, 5% of those bеlоw 45 уеаrѕ оf аgе wеrе іnvеѕtоrѕ іn cryptocurrency, whіlе 11% wеrе рlаnnіng tо invest next уеаr. It was аlѕо rероrtеd thаt 2018 іѕ the уеаr whеrе оnе-thіrd оf mіllеnnіаlѕ аrе еxресtеd to spend іn сrурtосurrеnсіеѕ.

 

Thuѕ, Millennials ѕhоw a dіffеrеnt approach tоwаrdѕ іnvеѕtmеnt when соmраrеd tо thеіr аnсеѕtоrѕ. A 35-уеаr-оld іn the 1990ѕ would bе lооkіng аt rеаl estate for рurсhаѕіng properties, buуіng Cеrtіfісаtеѕ оf Dероѕіt (CDѕ), оr purchasing rеtіrеmеnt packages. But a 35-year-old nowadays рlаnѕ tо рut mоrе mоnеу іntо the dесеntrаlіzеd futurе of іnvеѕtmеntѕ – buying BTC, ETH or соntrіbutіng іn ICOѕ.

 

Analysts еvеn ѕаіd that реорlе are сhооѕіng Bitcoin оvеr gоld – lаѕt year, RJO Futurеѕ’ Phіllір Strеіblе ѕаіd, “Bіtсоіn hаѕ ѕtоlеn a large market share оf gоld.” Thrоwіng some lіght оn thіѕ tоріс, сrурtосurrеnсу еxреrt Gаrrісk Hileman еxрlаіnеd thаt, “millennials began thеіr іnсоmе generating years durіng thе fallout frоm the 2008 fіnаnсіаl crisis, and mаnу dоn’t соmрlеtеlу truѕt trаdіtіоnаl fіnаnсіаl services  оr thе ѕуѕtеm in whісh thеу operate.”

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Altcoin News

Ripple Breaks A Significant Resistance Level And Rails Above $0.33

Ripple is in our altcoin news of the day for breaking the resistance level at $0.3050 and slowly going above $0.33. This bullish movement has created a path for even more gains above $0.38. XRP gained bullish momentum after breaking the $0.3000 resistance level and a formed a breakout pattern at $0.34. Ripple could even correct further before it starts a major upward move. Yesterday, the altcoin showed a significant resistance near $0.300 and $0.3020 right when the buyers managed to push all of the cryptocurrencies higher including the price of Ethereum, Bitcoin and Ripple. If you take a look at all of the charts available on multiple websites, XRP/USD pair broke the important $0.3000 level and later on continued above the $0.3020 opening a slight opportunity for a bullish break. The price rapidly broke both the resistance levels. Ripple even managed to set above $0.3400 briefly but it corrected later at $0.33. A weekly high was formed at $0.35 but as said earlier, the price is still correcting lower. XRP managed to break the 23.6 percent Fib retracement level of the recent high. There is another short-term breakout pattern around the support level at $0.3450 but it seems like the price could break the support level and decline further towards $0.3230 support level. The 61 percent Fib retracement level of the recent wave up to $0.3370 could act as an even stronger supporter. If XRP declines further, the price might find a new support level at $0.3200.
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Altcoin News

Tether Hits 4th Place By Market Cap Briefly Before EOS Takes Over

Just for a couple of moments, Tether (USDT) stablecoin hit the number four place on the market cap list but EOS spiked with 21 percent increased and took over the position. In this crypto news, we take a closer look at the altcoins on the market. Bitcoin and almost all of the other altcoins are in the green with Stellar going up to the fifth place with almost a 10 percent increase. Before coming to the fourth position, Tether’s market cap dropped back to $1.85 billion. If you take into consideration all of the controversy circling around Tether, the performance of the stablecoin is notable. However, Tether’s market cap lost nearly $700 million over the past few months but the coin jumped to the number 5 position the past week. In the meantime that Tether receives scrutiny, other stablecoins such as the Gemini Dollar and the Paxos Standard Token gained popularity. Paxos has even received the New York Department of Financial Services approval. These are not a clear indicator of whether the market has totally recovered but it is certainly good to see that the volumes are rising. Investors are even looking into the more volatile coins now. EOS is showing one of the most amazing performances but there is no clear explanation for today’s rise. Currently, there is a three-week EOS workshop in India and the EOS Global Hackathon in Cape Town. EOS increased up to 16 percent last week and is still going well. Coinbase is even considering adding the stablecoin to its platform.
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Altcoin News

Ethereum Surpassed Bitcoin Cash For The First Time In History

Just as the crypto markets show growth over the past few days, the center of attention of today’s crypto news is Ethereum which surpassed Bitcoin Cash for the first time in history. The data collected from multiple price trackers confirm that there is an ongoing battle within the top 10 cryptocurrencies an Ethereum is trading at $91 at the time of writing and Bitcoin Cash is trading at $87. Bitcoin cash has traded above Ethereum since it was created in August 2017. Since the hard fork of BCH in November, the crypto asset split into two different chains and the second one being Bitcoin Cash ‘’Satoshi Vision’’ or BSV. BSV’s price started fluctuating according to the movement of Bitcoin before it started going down and almost reaching BCH in price in December. Both of the chains are holding positions among the eighth and ninth position by crypto market cap. Bitcoin has since managed to jump up from and reached a $3,200 over the weekend. Many traders are still not quite sure about the chances of the resistance level holding and crypto expert Tone Vays says that a crash to $1,300 could be imminent. He said:
 “Until we close below it, my probability of $1,300 remains a little bit lower; the […] we have a full candle below the moving average, it’s all over; we’re going to $1,300.’’
In the top twenty list, Litecoin saw some daily gains up to 9 percent thus reaching a price at around $28,79 and this increase in price comes from the announcement that a booking website named Travala will start accepting Litecoin.
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Altcoin News

The Crypto Market Manages To Stay At $104 Billion, Traders Still Remain Cautious

Just two days ago, the crypto market was at high risk of dropping below the $100 billion price point in total value since 2017. In today’s crypto news we see that the market has slightly recovered and its value increased to $104 billion. However, many of the crypto traders remain extremely cautious about the short-term trend of the assets. Almost all of the major cryptocurrencies and other small market cap tokens have shown high volatility despite being in the low price range and they showed no signs of a reverse trend. The price of bitcoin dropped to a yearly low at $3,122 and a lot of investors believed this to be the bottoming out of bitcoin and started to accumulate the asset. The crypto technical analyst Hsaka said that the price trend of BTC is not positive in any way and that a reversal trend can’t be confirmed until Bitcoin breaks above $4,000 resistance level.
 “The numbers next to the line are the spread b/w the open and close for that day. There is nothing bullish about this chart until BTC reclaims $3,300. Your obsession to knife catch a ‘bottom’ is directly proportional to your account erosion,’’ Hsaka said.
A similar sentiment is placed upon Ethereum as well as for Ripple when digital asset trader DonAlt said:
 “If ETH makes it out of that horizontal and diagonal resistance combination, I’ll be turning into a dip buyer. For big ETH bears, this is the place to look for shorts. If this resistance fails I think we’ll go quite far. I’ll just observe and see how it does.”
The daily volume of BTC has almost halved from $6.5 billion and the decline in volume shows a period of high volatility proving that most digital assets are dropping in price without a higher sell-pressure from sellers and bears. It is very unlikely that in the following months, a new set of investors will join the crypto market which will provide the market with some breathing space.
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