Blockchain Technology to Grow the Global GDP by $1.76T In the Next Decade: PwC Report

  • China set to benefit the most from blockchain technology growth in the next decade with a protracted $440 billion boost in its GDP during this period.
  • This represents 25% of the total protracted global GDP boost from the innovative technology – set at $1.76 trillion by 2030.

A research report from a ‘big 4′ accounting firm, PricewaterhouseCoopers (PwC), “Time for Trust,” explores blockchain technology’s global socio-economic impact in the next decade. Targeting 2025 as the tipping point for the technology. If adopted at scale, PwC experts and researchers see a $1.76 trillion impact from the technology by 2030. This represents 1.4% of the total gross domestic product (GDP) of the world.

The report focuses on blockchain’s practical use in five key areas – provenance, payments and financial instruments, identity, contracts, dispute resolution, customer engagement – and how they deliver value in building transparent and efficient solutions across all industries.

According to the report, Asia is set to witness blockchain technology’s greatest impact, China leading the growth with a $440.4 billion projection. Japan and India expected to witness a $72.3 billion and $62.2 billion increase, respectively.

The United States is expected to witness a $407.2 billion increase in GDP from blockchain innovation growth in the next decade.

PwC report further states blockchain’s role in enhancing transparency and traceability as the sector with the most growth potential – projected to grow by $$961.6 billion by 2030. Anthony Bruce, Partner, and Pharmaceutical and Life Sciences Leader, PwC U.K, praised the potential of blockchain innovation in providence and traceability in the healthcare industry, stating,

“For healthcare organizations, blockchain can ensure patient safety is at the heart of the pharmaceutical supply chain. It has the potential to give patients confidence in the authenticity and origin of drugs.”

Payments and securitization of wallets are also picking up the pace and is expected to grow by $433.2 billion in the next decade. The U.S is expected to lead global growth in this period and is expected to experience a $136.3 billion GDP growth from blockchain-based payment systems, with China coming in a close second at $104.6 billion.

“Blockchain has the potential to cut costs, speed up transactions and promote greater financial inclusion by streamlining cross-border and remittance payments,” Lucy Gazmararian, Crypto, and FinTech Advisory, PwC Hong Kong said.

“These powerful innovations will transform the payments infrastructure.”

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Author: Lujan Odera

“Nothing Compares to My Bitcoin Bet,” Says Social Capital CEO Chamath Palihapitiya

Bitcoin was the best performing asset of the last decade, and in 2020, it remains a winner again.

Compared to the S&P 500 hitting a new record with just 2.09% returns YTD and gold also reaching a new peak with 22.2% returns, Bitcoin is still 46.5% away from its all-time high but up 49% in 2020 so far.

As such, it makes sense that Bitcoin is Chamath Palihapitiya’s best bet.

The chairman of Virgin Galactic and a stakeholder at Warriors, this week, Palihapitiya took to twitter to impart some investment knowledge.

In his investment 101, he talked about taking time to understand that you own so that you can go “all in.” “Don’t confuse slugging percentage with batting average,” he said.

During this, he provided the example of Bitcoin, “I’ve made some great bets before, but nothing compares to my bitcoin bet in 2012 and sizing up…” with an added “PS, HODL.”

Recently, Palihapitiya revealed in the investor call of his company Social Capital that it has been a bitcoin investor since 2013. Here he compared BTC to the early days of Amazon and Tesla, with “great asymmetric upside which can 10x in 10 years.”

In another of this Twitter thread, Palihapitiya discussed an investment portfolio. Conventionally, investment for retirement was 60% equities and 40% bonds, which got the job done in the 80s, 90s, and 00s.

But now, in the world of zero and negative interest rates, bonds return zero, calling for a new addition.

Here, he suggested, one idea is to replace the bonds by increasing the exposure to alternative assets such as “crypto, cars, art, baseball cards,” and others.

“Most people have 0-5% in alts. This allocation will probably change if bonds remain at 0…it’s just the math,” he said.

Bitcoin Struck a Nerve

Big players and companies are slowly but increasingly turning to the leading digital currency, as we have seen this year with the likes of Paul Tudor Jones and MicroStrategy.

Bitcoin actually “struck a nerve” when the halving happened, the programmatic supply reduction – a completely predictable boring thing, the same time as the money printer went burr, said former macro hedge fund manager Raoul Pal.

The bitcoin proponent believes BTC to be “a priceless reserve and collateral asset.” Earlier this month, he revealed that more than 50% of his investment is in bitcoin.

In a recent interview, he also talked about a bitcoin exchange-traded fund (ETF), which, according to him, is imminent and advised not to miss the “opportunity of a lifetime.”

“You’re allowed to front-run in Bitcoin, and I’m going to give you the biggest front-running opportunity of your life: they will get an ETF across the line. There will be billions of dollars that pour into it,” he said.

He expects “every” pension plans and family offices to allocate some of their money to it and from there, “the more the price goes up, the more they will allocate,” providing the retail an opportunity to “front-run the institutions for once as opposed to Goldman Sachs front-running us.”

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Author: AnTy

Institutional Investors Still Slow On The Uptake But Unregulated Crypto Exchanges Rule the Market

Institutional Investors are still slow on the uptake despite bitcoin being over a decade old. In 2019, institutional investors remained sidelined despite the improvement of the institutionally-focused products and services like derivatives and custody, states crypto exchange Kraken in its latest report.

Last year saw an impressive 84% year-over-year growth in regulated crypto derivative notional volume but much of the industry’s appetite gravitated towards unregulated venues that offer higher leverage and diverse product offerings.

Regulated Exchanges Grew in 2019

Notional volume from regulated derivatives fell to 5% in 4Q 2019, one year low and a significant decline from the 2019-high of 10% in 2Q 2019.

While CBOE announced it would cease bitcoin futures trading, just two months later, CME reported a record volume of $11 billion in May 2019. At the end of Q3, ICE launched Bakkt for industry-first physically-settled bitcoin futures contracts that later included bitcoin options and cash-settled futures.

Quarterly notional volumes of regulated exchanges

In January this year, CME also announced bitcoin options, while rumors are that NASDAQ is also planning to release bitcoin futures this year.

But Unregulated Exchanges Still Dominate the Market

However, the unregulated exchange are still dominating the market, much of which is attributable to platforms like Binance Futures and FTX.

Quarterly notional volumes of regulated vs. unregulated exchanges

Crypto derivatives exchange FTX is reportedly seeking to raise $15 million in an equity round that puts the company at a $1 billion valuation.

Hong Kong-based FTX’s CEO Sam Bankman-Fried confirmed the news to the news outlet The Block. The exchange is apparently planning “significant” growth that is not limited to just hiring more staff members but also expanding its product line.

Meanwhile, FTX token recently reached its all-time high at $2.92, up 4.36% in the past 24 hours and over 18% in the past month.

The exchange also offers presidential betting on crypto might be driving this uptrend. The new product was offered in early January that allows users to bet on the upcoming US presidential election. Currently, it lists six candidates, Donald Trump, Bernie Sanders, Michael Bloomberg, Joe Biden, Elizabeth Warren, and Pete Buttigieg.

Popular crypto options exchange Deribit has also reportedly completed its 10% sale of equity. The Panama-based exchange has been looking for buyers of its shares since January at a 9-figure valuation.

The exchange accounts for over 80% of open interest and is now looking to grow its product offering and draw more interest from both retail and institutional traders.

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Author: AnTy

Blockchain Tech Has Been Key To Helping Fight The Spread of Coronavirus in China

Coronavirus is so far the largest health catastrophe to strike the world in this decade as China continues to suffer the most. It is no wonder the Asian giant has turned to blockchain tech to enhance its existing ecosystems in functions such as health insurance.

A number of blockchain apps have been developed to curb the coronavirus pandemic with most being launched as late as this month. One notable blockchain-oriented insurance platform known as ‘Xiang Hu Bao’ added a coronavirus one-time payout claim under its product range. The cover is designed such that policyholders can receive a lump sum of $14,000 (100,000 Yuan) to look after themselves during these times of uncertainty.

Blockchain Vs Coronavirus

Apart from insurance, blockchain has been instrumental in China’s record and data tracking efforts to prevent the spread of coronavirus. Since Xi Jinping’s directive for government agencies to consider blockchain adoption back in 2019, a good number of patents have been filed with some provinces such as Shaanxi implementing the DLT tech in health services like screening and consultation.

Blockchain has arguably changed the way records are maintained within China’s health system and is expected to play a big role in the wake of coronavirus. The digital ledger platforms are turning out to be efficient avenues for receiving donations or grants from investors.

A cross-border financing platform launched back in March 2019 by China’s foreign trade authorities has helped secure over $15 billion in lending for close to 2,500 businesses. Hubei which is China’s worst-hit capital by coronavirus also joined this platform back in January; some analysts have since speculated that this will save the businesses in Wuhan from collapsing.

These hard times are gradually proving that blockchain will be a norm tech sooner than most would have expected. As it stands, the tech’s use case in health insurance for screening claims has reduced service time and the general cost for processing claims. It is therefore expected that blockchain will come in handy for the coronavirus epidemic as well given its dynamic nature to suit different industries.

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Author: Edwin Munyui

Bitcoin Price Crosses $10,000 BTC/USD for First Time in 160 Days

Bitcoin begins its ascent in to the new 2020 decade soaring over $10,000 BTC/USD exchange rate value for the first time since September 22, 2019. The past 160 days saw bitcoin’s price drop to as low as $6,500 on December 17th, the 4,000th day the bitcoin blockchain has been activated and running. It did flirt with 10K range back in October 25-27 but did not hold support but is now up nearly 50% in 2020 so far.

Bitcoin started the 2020 calendar year just over $7,000 and is now already increased to over $10,000 just 38 days into the 20’s decade. As the best performing asset of the 2010 decade, many are becoming bullish in sentiment towards the crypto market’s potential to run before the third bitcoin halving event takes place in the middle of May 2020.

The $10,000 BTC price point is considered a psychological turning point as the leading asset in the crypto market industry. It has been 801 days since Bitcoin first crossed $10,000 barrier for the first time ever when it did back on November 29, 2017 – of course going to $19,983 on December 17th 2017 before falling to $3,323 level by December 19, 2018 as the low point of the crypto bear market.

A fresh reminder from a vocal Crypto Twitter contributor:

The halving is just over 90 days out as the May 12, 2020 prediction date looms to take its blockchain mining rewards system output from 12.5 BTC to 6.75 BTC per every new block created on the BTC blockchain every ten minute cycle. The digital scarcity aspect will heighten as nearly 87% of all bitcoin’s satoshis will have been mined in totality and the global demand for a peer to peer alternative will keep seeing more adoption in areas that need its crypto distributed ledger technology the most.

While the bitcoin price predictions may range all over the place for 2020, many are watching for $12,500 range as the next level of interest if bitcoin can get its wings back.

In a week that saw the Federal Reserve studying central bank digital currencies, over $1 billion in value locked away in decentralized finance, a new safe harbor notion, Gemini integrating TradingView, the lightning network payment railway getting $10 million in Series A funding – and of course, Bitcoin not failing as it has been successfully operating for 4,048 days since Satoshi activated the network’s software.

Buckle up bitcoiners, the ride has only begun.

Latest Bitcoin Price News and Crypto Market Updates

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Author: Andrew Tuts

Top Bitcoin, Blockchain and Cryptocurrency News And Analysis From January

January 1 Bitcoin completes improbable black-swan decade by posting a 9 million percent gain!

Even 10 months after Satoshi Nakamoto mined the first block of bitcoins, bitcoins had no official value. Then in October 2009, a Bitcointalk forum member named “NewLibertyStandard” devised a method of price evaluation based on the amount of energy required to mine bitcoins, giving rise to the rudimentary bitcoin market website which operated as the first-ever bitcoin exchange.

From trading below $0.001 in July 2010 to trading as high as $19,893 in December 2017, Bitcoin positioned itself as by far the best performing asset of the decade. By comparison, S&P 500 tripled in value and gold value rose just 25%, only marginally above the inflation rate for the decade.

January 3 Bitcoin network celebrates its 11th birthday by setting a new hash rate record.

Growing steadily throughout 2019, the Bitcoin network hashrate set a new record of 120 ex-hashes per second (EH/s) which represents a 186% rise from 42 exahashes per second (EH/s) a year ago. On the development front, Bitcoin Core Github grew from 19,104 commits from 601 unique contributors to 22,536 commits from 678 contributors.

The number of active addresses crossed half a million with a 20% increase from 433,715 to 524,360. Lightning network also witnessed significant growth, with the number of channels increasing 41% from 21,130 to 36,130 and, even more impressively, the number of Lightning network nodes rising 114% from 2,297 nodes to 4,923.

January 4 South Korea refrains from taxing cryptocurrency profits.

Only a month after it was reported that the Ministry of Economy and Finance was seeking to impose capital gains tax on incomes from digital currencies, South Korea’s Ministry of Finance and Strategy made it clear that the current tax law does not consider crypto trading gains as taxable income for the time being due to a lack of legal definition of virtual currencies. The ministry, however, stated that it was looking into amending the laws based on a review of cryptocurrency taxation in other countries,

“The income tax law is only taxable on income listed as taxable. We are preparing a taxation plan for virtual assets by comprehensively reviewing the taxation of major countries, consistency with accounting standards, and trends in international discussions to prevent money laundering.”

January 6 Telegram issues statement regarding its role in the development of Telegram Open Network (TON) blockchain.

In a public notice issued on its official website, Telegram noted that it had been careful not to speak publicly on the project while it was working to ensure that it was compliant with all relevant laws and regulations. The statement, intended to dispel misleading rumors, revealed that the TON blockchain will be fully open-source and decentralized with Telegram having no control or involvement with the project after its launch, relying solely on community developers for further development.

Since raising $1.7 billion in early 2018 in a private ICO, Telegram had maintained complete radio silence on the development of the TON blockchain. It wasn’t until October 2019 that Telegram even officially confirmed its involvement in the project.

January 7 IBM launches the blockchain app to allow consumers to trace the origin of their coffee.

Built by the IBM Food Trust with the support of 10 leading organizations in the coffee industry, the app, named “Thank My Farmer” was unveiled by IBM’s food traceability platform Farmer Connect at the 2020 International Consumer Electronics Show (CES) in Las Vegas and is expected to be made available to consumers in the US, Canada, and Europe later this year.

The idea behind the project is to bring traceability, efficiency, fairness, and communication across the coffee supply chain which supports the $200 billion industry. The app will let the coffee consumers learn about the provenance of their coffee and even support the farmer who grew the beans.

January 8 Libra executive dismisses Bitcoin’s merit as a means of payment.

Speaking at the Digital Money Forum at the Consumer Electronics Show (CES) in Las Vegas, vice chairman of the Libra Association Dante Disparte argued that Libra was being unfairly subjected to what he called “a crypto purity test” when permissionless decentralized crypto projects have failed to deliver a payments system capable of scaling and meeting the needs of people in the developing world,

“Bitcoin as an asset class has proven that mathematical scarcity can support an incredibly exciting asset. It’s not a means of payment.

The bottom rung of the ladder of economic mobility is payment access and crypto isn’t cutting it on payments. How do you remove insidious levels of friction that basically make it cost-prohibitive to give people access to payments?”

January 10 Kaspersky report identifies Telegram as a key attack vector for Lazarus hacking group.

The cybercrime group from Pyongyang, designated as an Advanced Persistent Threat (APT) and believed to be responsible for various cyberattacks since 2009 has made “significant changes to the group’s attack methodology” according to the report. Taking more careful steps than before and employing multi-stage infection procedures, Kaspersky found that fake cryptocurrency companies with Telegram trading groups were being used to fool victims into downloading a malicious payload.

Once the payload infected the victim’s system, the attackers would gain remote access to control the compromised device to execute the next stages of their attacks. Several cryptocurrency businesses from UK, Poland, Russia, and China were identified as victims of such attacks.

January 13 CME Bitcoin options go live and surpass Bakkt’s reported volume on the first day of trading.

Options on CME bitcoin futures contracts were opened for trading on the CME Globex Trading System with each contract, quoted in US dollars, representing five bitcoins and relying on trade flow data from several of the largest bitcoin exchanges to track the price.

Remarkably, on the first day of trading itself, 55 contracts worth 275 bitcoin or $2.1 million were trading on the Chicago-based derivatives exchange, nearly double the reported cumulative volume of $1.15 million attracted by Bakkt’s bitcoin options which had been trading for over a month since December 9. Trading activity confirmed reports from JPMorgan ahead of the launch that there was greater anticipation for the CME options than Bakkt’s options.

January 14 Craig Wright notifies the court of the arrival of the bonded courier.

Wright had originally claimed that a bonded courier would arrive on January 1, delivering him the keys to the bitcoins held in the Tulip Trust. On January 10, Wright requested an extension to file a notice and was granted until February 3 to notify the court of the courier’s arrival.

In the court filing submitted, Wright notified the US District Court of Southern Florida that he had obtained all the necessary information to unlock the bitcoins held in the Tulip Trust and that he had produced to the court a list of 16,404 addresses which held the bitcoins. The Kleiman estate promptly refuted Wright’s notice as “simply a list of addresses” with no reference or information pertaining to the bonded courier. Wright’s lawyer later admitted that Wright did not receive private keys to the addresses.

January 15 LinkedIn report reveals blockchain as the most in-demand skill in 2020.

In its annual list of the most in-demand skills sought by recruiters, the employment networking website listed blockchain as the hard skill companies needed most in 2020, ahead of cloud computing, analytical reasoning, and artificial intelligence. The report stated that companies were looking at blockchain as a transformational technology beyond its scope in financial services, seeing it as a secure, decentralized, and cost- and time-efficient way to transparently track shipments and transactions of all kinds.

While companies recognized the concerns surrounding lack of standardized protocols, regulation, and scalability, they were sufficiently convinced by blockchain’s potential to view it worthy of the gamble.

January 16 Korean cryptocurrency exchange Bithumb disputes $69 million tax bill.

Less than two weeks after the Finance Ministry said it would not tax cryptocurrency profits, Korea’s leading cryptocurrency exchange Bithumb filed a complaint with the Tax Tribunal against the National Tax Service (NTS) over what it considers a “groundless” tax the agency imposed on its customers.

Bithumb claimed that cryptocurrency is not a legally recognized currency and therefore the authorities did not have grounds to impose a withholding tax, also known as a retention tax, which is an income tax paid to the government by the payer of the income rather than by its recipient. A withholding tax of 80.3 billion won ($69.1 million) was imposed by the NTS on cryptocurrency profits withdrawn in Korean won from accounts held by foreigners.

January 17 UK Government seeks software to trace cryptocurrency transactions.

Her Majesty’s Revenue and Customs (HMRC) posted a contract offer on the UK government’s official public sector information website offering $130k for a,

“cryptoasset blockchain analysis tool that will support intelligence gathering methods to identify and cluster cryptoasset transactions into linked transactions and identify those linked to cryptoasset service providers.”

Seeking the ability to identify transactions linked to service providers such as mixing, gambling, and dark market services, HMRC noted that the blockchain analysis tool was primarily required to trace Bitcoin, Ripple, Tether, Litecoin, Ethereum, and Ethereum Classic transactions, but also preferably privacy-focused cryptocurrencies such as Monero, Zcash, and Dash.

January 18 Grayscale Investments reports that it attracted an inflow of $608 million in 2019.

The New York-based digital currency asset manager raised $225.5 million into its investment products, bringing assets raised for the year 2019 to $607.7 million, a figure which surpasses cumulative investment across Grayscale products from the last six years since its inception in 2013.

Grayscale’s Bitcoin Trust continued to lead 2019’s investment demand with $471.7 million total, $193.8 million of which were raised in 4Q2019, marking the largest ever quarterly investment into the Trust. Nearly three-quarters of Grayscale’s 2019 assets raised came from institutional investors like hedge funds, with institutional investors accounting for 71% of inflows in 2019, up from 51% in the previous year.

January 19 Gold bug Peter Schiff claims he lost all his bitcoins due to a corrupt wallet.

Blaming Bitcoin for his inadequate understanding of how his wallet worked, Schiff tweeted,

“I just lost all the Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid.

So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad!”

Schiff went on to claim that he had a simple numeric password which he remembered, not realizing that it was only a login PIN for his blockchain wallet. After several days of hand-wringing and gum-flapping, Schiff eventually conceded that he had confounded his PIN for his password. Having failed to back up his seed phrase, Schiff was unable to recover his bitcoins.

January 20 Indian IT minister calls for blockchain solutions to improve the quality of government schools.

Speaking on the occasion of the inauguration of a Centre of Excellence (CoE) in Blockchain Technology set up by the National Informatics Centre (NIC) in Bengaluru, Telecom and IT minister Ravi Shankar Prasad asked the NIC to come up with blockchain-based solutions to improve the quality of government schools in the country.

The CoE develops blockchain-based Proof of Concepts (PoCs) for select government use cases to understand potential benefits provided by the emerging technology. Urging the NIC to work on a mechanism to involve more startups in the field, Prasad added that blockchain technology would open up new frontiers in areas of governance, treasury management, excise operations, agriculture, health, and education.

January 22 Vodafone pulls out of the Libra Association.

The London-based telecommunications giant became the eighth company to join the wave of exodus from Facebook’s Libra project, after Mastercard, Visa, PayPal, Stripe, eBay, Mercado Pago, and Booking Holdings. Vodafone said in a statement that while it was committed to financial inclusion, it felt that such interests would be better served by focusing its efforts on M-Pesa, the company’s mobile phone-based money transfer service,

“We have said from the outset that Vodafone’s desire is to make a genuine contribution to extending financial inclusion. We remain fully committed to that goal.

We will continue to monitor the development of the Libra Association and do not rule out the possibility of future cooperation.”

January 24 Bitcoin money laundering suspect Aleksandr Vinnik extradited to France.

Following a ruling of Greece’s Council of State, Russian national Vinnik, operator of defunct cryptocurrency exchange BTC-e, was extradited from Greece to France. Vinnik’s lawyer, Zoe Konstantopoulou, claimed that his client had been kidnapped, and suggested he had been sent to France without her knowledge. Vinnik was arrested on a US arrest warrant in 2017 on a Greek beach while vacationing with his family as the alleged mastermind behind an international money-laundering scheme that had processed over $4 billion in cryptocurrency transactions, including bitcoins stolen from Mt. Gox.

A Greek court had initially approved Vinnik’s extradition to the United States in December 2017 but an extradition request by France in 2018 was given precedence.

January 27 Dubai government agency announces crypto valley to promote blockchain growth.

Dubai’s Multi Commodities Centre (DMCC), the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise, announced its plans to launch a crypto valley in partnership with CV VC and CV Labs.

An agreement, aligned with the Dubai Blockchain Strategy launched by the Crown Prince of Dubai, was signed at the World Economic Forum (WEF) in Davos to develop an ecosystem in Jumeirah Lakes Towers (JLT), DMCC’s business district, where over 17,000 companies are currently registered. Research from DMCC’s Future of Trade report found that blockchain could help reduce up to 20 percent of the physical paper costs associated with global trade, currently estimated at USD 1.8 trillion.

January 29 Cambodia set to implement a blockchain-based digital payment system.

Speaking to Cambodia’s oldest English daily, the Phnom Penh Post, director-general of the National Bank of Cambodia (NBC), Chea Serey said that the central bank was preparing to launch a blockchain-based peer-to-peer payment and money transfer platform within the next few months. Dubbed ‘Project Bakong’, Serey described the system as “the national payment gateway for Cambodia” and said that the scheme was already launched on a trial basis in July and was expected to become fully operational within the first quarter of 2020,

“Bakong will bring all players in the payment space in Cambodia under the same platform, making it easy for users to pay each other regardless of the institutions they bank with. Eventually, we hope to allow cross border payment through the Bakong system.”

January 31 Kraken discloses a critical flaw in Trezor Bitcoin hardware wallets.

Security researchers at San Francisco-based cryptocurrency exchange Kraken managed to hack both of Trezor’s flagship hardware wallets within 15 minutes. Kraken Security Labs disclosed the critical flaw, first identified in October 2019, through a blog post. Taking advantage of inherent flaws within the microcontroller used in the Trezor wallets, the attack exploited voltage glitching in Trezor’s hardware design to extract an encrypted seed, after which the security researchers were able to brute-force the PIN protecting the encrypted seed.

The only way for Trezor to fix the vulnerability would be to fully redesign its hardware. Until then, users of Trezor wallets are advised not to allow physical access to their wallets and enable their BIP39 Passphrase with the Trezor client.

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Author: Lamps T

Crypto Trading Insights: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) Price Analysis For January

Even as the rest of the world labored through the first month of the new decade enshrouded beneath louring apocalyptic clouds – a world war seemed briefly imminent, half of Australia turned to ashes, flash floods ravaged East Africa and the most virulent virus since the Spanish flu broke out – Bitcoin marched on impregnably to register the most bullish January in the post-Mt. Gox era.

Indeed, while reward halving could be adduced as a key factor, there is a compelling theory that the impact of the novel coronavirus epidemic on traditional financial markets has led investors to flock to Bitcoin as a readily accessible uncorrelated safe-haven asset in these times of uncertainty caused by pandemic fears.

Bitcoin (BTC) January Price Analysis

Despite tailing off towards the end of the month ahead of the Chinese new year, BTC/USD closed the month of January in a convincing bullish engulfing at 9327, a 30% gain from December’s close of 7168.

In the early sessions of February, the 50-day SMA rose above the 100-day SMA to complete a golden cross and continues to pursue a cross above the 200-day SMA, which, being a more telling signal, would elicit a stronger wave of bullish market sentiment.

During the course of December and January, the pair continued trading in a potential inverse head and shoulders pattern, formed around .618 Fibonacci retracement level, which was duly completed towards the end of January.

However, the breakout has found resistance around 9700 and price continues to dither, finding support at the .382 level as RSI finds resistance around overbought territory of 70. A decisive daily close above 9700, backed by volume, is required to climb towards the target of 11200 from the inverse head and shoulders pattern breakout.

Ethereum (ETH) January Price Analysis

After languishing in the shadows throughout 2019, altcoins stumbled upon a new lease of life in January. ETH/BTC completed a cross above both 100-day SMA and 200-day SMA on successive days on the last day of January and the first day of February respectively. This was immediately followed by a sharp bullish MACD divergence.

The next target for ETH/BTC would be breaking above 0.022 BTC, a level which the pair has struggled to breach since July 2019. The pair currently finds support at 0.02 BTC.

Ripple (XRP) January Price Analysis

XRP/BTC also finds itself on the brink of breaking above 200-day SMA for the first time since March 2019 after the market reacted strongly to a bullish RSI divergence at the end of January. A strong daily close above the 200-day SMA could spur the pair on to test the next level of resistance at 3600 sats.

Other Top Altcoin Price Analysis

Elsewhere, Bitcoin Cash (BCH/BTC) BCH 0.84 and Litecoin (LTC/BTC) LTC 0.12 also witnessed a significant amount of bullish momentum in January, surging 42% and 31% respectively. This meant that Bitcoin’s market dominance slumped from 68% to 65%.

It should be interesting to see if the altcoin rally continues to gather further momentum in February or if Bitcoin begins to claw back to assert its dominance as the block reward halving draws ever closer.

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Author: Lamps T

Top 20 Best Cryptocurrencies in 2020: Which Coins to Watch For This Decade

As the new decade dawns upon the emerging digital asset economy, it’s important to analyze the current cryptocurrency market landscape and find out which are the top altcoins and tokens are worth keeping an eye on in 2020 and beyond.

It is no surprise that throughout 2019, the crypto sector gained a lot of mainstream traction, with many new investors entering this space thanks to Bitcoin’s amazing recovery which saw the premier crypto asset soar to a price point of around $14,000. Not only that, but a whole host of experts are also of the opinion that 2020 could see this burgeoning market space scale up to new heights, with many premier digital currencies like ETH, BCH, BTC crossing their previous ATH values this year.

While Bitcoin (BTC) is an obvious choice to kick things off with our list of the best cryptocurrencies to pay attention to in 2020, there are other emerging coins and blockchain token projects worthy of keeping tabs on as the world begins its transition into the digital value transfer economy.

Top 20 Cryptos that You Should Consider Investing in

In this article, we will look at some of the best crypto investment options of 2020. So without any further ado, let’s jump straight into the heart of the matter.


Even today there is absolutely no doubt in anyone’s mind that BTC is by far the most lucrative crypto asset in the market. To put things into perspective, the flagship digital currency currently accounts for more than 60% of the global crypto market share. If that wasn’t enough, anytime the currency experiences any sort of volatility, the rest of the market tends to follow suit.

In terms of its financial potential, Bitcoin is still considered by many as being the perfect investment avenue for novices as well as seasoned investors. Not only is the asset tried and tested, but its infrastructure has grown leaps and bounds over the past decade or so as a result of which many pundits (including everyone’s favorite crypto believer John McAfee) believe that BTC will most likely hit a value threshold of $100,000 by the end of 2020.

  • All-time High (ATH) Value: $19,892
  • Market Debut: 2009
  • 2019 High: $13,793
  • 2019 Low: $3,459


As many of our readers are probably aware of, after BTC, Ethereum (ETH) is the world’s second-largest cryptocurrency by total market capitalization. The asset was launched back in 2015 and over years it has risen to become one of the most sought after digital currencies in the market. In regards to what makes ETH different from its closest rivals, it can be seen that the currency makes use of a framework that is meant to support several novel decentralized apps that have been built atop the Ethereum blockchain.

As a result of its amazing dApp capabilities, the Ethereum ecosystem can offer its users with a host of amazing features such as:

  • Seamless decentralized governance
  • Smart contract utilization

Last but not least, Ethereum currently boasts of having one of the most active developer communities in the world. As a result of this, many finance experts believe that the currency is destined for big things in 2020.

  • All-time High (ATH) Value: $1396
  • Market Debut: 2015
  • 2019 High: $$345
  • 2019 Low: $103.2


XRP is another digital currency that has become extremely popular since its release back in 2012. From a technical standpoint, it bears mentioning that the premier cryptocurrency plays an important role in facilitating the transactions taking place within the Ripple ecosystem. In this regard, Ripple can essentially be viewed as a private financial services platform that offers its users with a host of amazing products including:

  • XRapid
  • xCurrent
  • RippleNET

As of 2019, Ripple’s various services are being made use of by a large number of established banking institutions all around the world including Santander, Standard Charter, Cuallix, etc. This is primarily because Ripple and XRP have allowed these mainstream players to facilitate their international, cross-border transactions in a seamless, hassle-free manner (that too at a fraction of the cost that they previously had to pay when making use of the SWIFT network).

Last but not least, XRP is currently the third-largest cryptocurrency available today in terms of its overall market capitalization. However, a couple of years back, it was able to dethrone ETH for the second spot but was unable to maintain its financial dominance for more than a few days.

  • All-time High (ATH) Value: $3
  • Market Debut: 2012
  • 2019 High: $0.48
  • 2019 Low: $0.25


Even though a lot of causal crypto enthusiasts may not have heard of DigiByte (DGB), the cryptocurrency is touted to be one of the most promising financial prospects of 2020. Founded in 2014 by Jared Tate, what makes Digibyte so unique is the fact that it is completely decentralized and offers tx speeds that are much higher than many of its digital counterparts. For example, it is nearly 40 times faster when compared to BTC because of its amazing block times.

Technically speaking, Digibyte was the first blockchain platform to successfully implement the Segregated Witness (SegWit) protocol that allows tx confirmation data to be maintained separately from their associated block info. This allows Digibyte to process transactions at an extremely high rate without compromising on the security side of things (even in the slightest). The ultimate goal of DigiByte is to create a global payment system accessible to people around the world.

  • All-time High (ATH) Value: $0.128
  • Market Debut: February 2014
  • 2019 High: $0.016
  • 2019 Low: $0.0052


Launched just a few years after Bitcoin, Litecoin (LTC) was initially intended to be a less resource-intensive version of Bitcoin. With that in mind, it bears mentioning that LTC’s core coding structure is pretty much the same as Bitcoin, except for a few tweaks here and there. As things stand, the currency offers block times that are nearly 4 times faster than what Bitcoin currently offers. Additionally, LTCs total token supply is 4 times as big as that of BTC.

Lastly, back in 2018 LTCs creator, Charlie Lee sold all of his LTC tokens, sparking fears that the project may become worthless overnight. However, as we all know now, Litecoin has only grown in strength since then with many experts claiming that the currency is destined for great things in 2020. Only time will tell what the future has in store for the premier cryptocurrency.

  • All-time High (ATH) Value: $363.60
  • Market Debut: April 2013
  • 2019 High: $141.70
  • 2019 Low: $30.70


Maker (MKR) is the digital token that is used to facilitate all of the transactions taking place within the Maker digital ecosystem. What makes MKR unique is its limited market supply of around 1 million tokens as well as the fact that it can serve as as a smart contract platform that backs and stabilizes the value of the stablecoin DAI using niche concepts such as:

  • Collateralized debt positions (CDPs)
  • Autonomous feedback mechanisms
  • Incentivized external actors.

Additionally, it also bears pointing out that MKR tokens are not only used to pay transaction fees within the Maker ecosystem but they also equip holders with voting rights to help maintain the decentralized balancing mechanism of the system.

  • All-time High Value (ATH): $1,687.86
  • Market Debut: January 2017
  • 2019 High: $784.54
  • 2019 Low: $367.01


On paper, Binance Coin (BNB) appears to be the most successful digital currency ever released by a cryptocurrency exchange. For starters, BNB has been trading well above the $15 mark for more than six months now despite the market at large being faced with insane bearish conditions all through 2019. Additionally, many pundits believe that as long as Binance continues to do well as an exchange, the BNB token will continue to possess considerable value.

Lastly, it should also be highlighted that while many people view BNB as an excellent investment channel, there are also those people who employ BNB because they regularly trade high volumes on Binance and want to cut down on their peripheral costs (such as tx fees, gas fees, etc).

  • All-time High (ATH) Value: :$39.10
  • Market Debut: July 2017
  • 2019 High: $39.08
  • 2019 Low: $5.90


Cardano (ADA) is the brainchild of Ethereum co-founder Charles Hoskinson. On paper, it seems to share a lot of similarities with Ether. For example, it allows users to construct novel dApps and smart contracts. However, upon closer inspection, one can see that Cardano and the ADA token are designed to help resolve many of the interoperability and scalability-related problems that are plaguing the crypto world today.

To be a bit more specific, the development team behind Cardano is especially focused on maximizing the efficiency of the international payments market by cutting down many of the time and fee-related issues currently facing this burgeoning domain.

  • All-time High (ATH) Value: $1.26
  • Market Debut: October 2017
  • 2019 High:$1.01
  • 2019 Low: $0.03


The name Chainlink (LINK) has become extremely popular throughout 2019 amongst crypto enthusiasts all over the world, because when the market at large was struggling to find its feet due to all of the bearish pressure being faced by this sector, LINK continued to surge and grow.

In its most basic sense, LINK can be thought of as an Ethereum token that is used to drive Chainlink’s native decentralized oracle network. Owing to the use of its novel framework, the platform can deploy ETH smart contracts, to connect with several external APIs and payment systems. Not only that, but Chainlink also has the unique ability to transfer information in/out of the native blockchain in a manner that is highly secure, trustworthy, and decentralized.

  • All-time High Value: $4.07
  • Market Debut: September 2017
  • 2019 High: $4.07
  • 2019 Low: $0.298


Even though the name Crypterium might not be that popular amongst crypto enthusiasts globally, the currency has shown a lot of potential in 2019. In its essence, it is an Ether-based token that serves to power all of the native transactions associated with the Crypterium Wallet.

However, one of the most interesting facets of Crypterium is that 0.5% of every transaction fee associated with the platform is used to burn CRPT tokens, which essentially drops the total token supply volume in the long run (a feature that might prove to be extremely valuable for investors later down the line).

  • All-time High Value: $2.51
  • Market Debut: January 2018
  • 2019 High: $0.709
  • 2019 Low: $0.095

0X (ZRX)

Technically put, we can see that 0x (ZRX) is a permissionless protocol that provides developers with a foundation using which they can create their very own DEXs (decentralized exchanges). Not only that, from a purely operational standpoint, 0x makes use of off-chain transaction relayers and Ethereum smart contracts to eliminate many of the issues plaguing this niche market space.

The ZRX token essentially serves as the fundamental payment unit that drives the 0X protocol. Additionally, it is also used for governance related purposes (especially when network upgrades need to be implemented). Looking ahead at the currency’s financial potential for the year 2020, many experts are hopeful that the token will perform quite well this year.

  • All-time High Value: $2.47
  • Market Debut: August 2017
  • 2019 High: $0.379
  • 2019 Low: $0.15


EOS is a cryptocurrency that was created by Dan Larimer, a world-renowned developer and crypto pioneer, back in 2018. The project first came to the attention of the masses when its associated ICO successfully was able to raise a whopping sum of $4 Billion from investors spread out across the globe.

What makes EOS so unique is the fact that it makes use of a novel consensus mechanism called the delegated POS (proof of stake mechanism) that not many other currencies currently employ. Not only that, the platform does not make use of a fixed mining protocol, instead, block producers are rewarded for generating blocks based on their overall efficiency.

From its very inception, EOS has continued to grow in popularity and since the start of 2020, the currency has been trading around the $2.70 mark.

  • All-time High (ATH) Value: $23
  • Market Debut: July 2017
  • 2019 High: $8.28
  • 2019 Low: $2.35


Launched in 2014, Stellar seeks to provide crypto enthusiasts all over the world with a super-fast cross-border payment system that is easy to use as well as transparent in nature. Also worth mentioning is the fact that back in 2014, XLM was trading for almost nothing, however, by the end of 2018, the currency’s value had risen to a whopping $0.94. Heading into 2020, XLM is priced at around $0.06. And even though the platform continues to face increasing competition, many experts are confident that good things lay ahead for the Stellar ecosystem over the coming few months.

  • All-time High (ATH) Value: $0.94
  • Market Debut: August 2014
  • 2019 High: $0.14
  • 2019 Low: $0.044


Basic Attention Token (BAT) is by far one of the most interesting cryptos in the market today. This is because it is an ETH-based token that functions as the underlying fuel for Brave browser’s blockchain-based digital advertising platform.

For those of our readers who may not be aware of what Brave is, it is the world’s only web browsing app that pays users for their surfing activities. Users are given a certain amount of BAT tokens for all of the ads they view on the browser.

  • All-time High (ATH) Value: $0.88
  • Market Debut: June 2017
  • 2019 High: $0.449
  • 2019 Low: $0.105


The Kyber Network Crystal (KNC) is a cryptocurrency that provides its users with the option of facilitating instant token swaps, Additionally, it should also be remembered that the Kyber network serves as a decentralized, peer-to-peer crypto-asset exchange that makes use of a dynamic reserve pool, that allows the system to maintain its overall liquidity in a highly seamless manner. Lastly, much like Crypterium, the Kyber network too makes use of a deflationary model to minimize its liquidity issues.

  • All-time High (ATH) Value: $5.27
  • Market Debut: September 2017
  • 2019 High: $0.323
  • 2019 Low: $0.11


As many of our readers may be well aware of MCO as a popular digital token that is being used by crypto enthusiasts around the world to gain access to a wide range of products and services. Some of the core selling points of the platform include:

  • MCO Visa cards
  • An MCO wallet
  • Portfolio building services

Additionally, through the use of MCO Visa cards, users can reap several unique benefits such as cashback offers on Airbnb and Expedia bookings as well as 100% rebates on their Spotify and Netflix subscription plans.

  • All-time High (ATH) Value: $21.71
  • Market Debut: July 2017
  • 2019 High: $7.39
  • 2019 Low: $1,89


Even though the overall market capitalization of RCN is quite low at the moment, many experts believe that the currency is destined to break out in 2020. This is because the Ripio Credit Network provides investors/crypto enthusiasts access to a global credit network that is transparent and can connect them with various lenders, borrowers, and loan originators (without the use of a middleman).

If the project can garner the traction that many experts believe it will, it should not be surprising to see RCNs value soar to new heights within the next couple of months.

  • All-time High (ATH) Value: $0.466
  • Market Debut: October 2017
  • 2019 High: $0.056
  • 2019 Low: $0.010


TNT is an ETH-based token that is used for verification-related matters within the Tirion ecosystem. For those of our readers who may not be aware of what Tierion is, it is a platform that allows crypto enthusiasts/developers to make use of the system’s native blockchain for a host of different data verification purposes.

As things stand, it is estimated that Tierion is compatible with a total of 500+ apps that are designed for the verification of on-chain data. In this regard, as the number of supported apps continues to increase, it would not be surprising to see the value of TNT soar and grow.

  • All-time High (ATH) Value: $0.34
  • Market Debut: August 2017
  • 2019 High: $0.084
  • 2019 Low: $0.011


In its most basic sense, Decred (DCR) is a fork of BTC that is completely open-source based and lays great importance on things like on-chain governance. To be a bit more specific, the platform seeks to rectify many of the issues that are currently facing the Bitcoin network to create a digital asset that is truly decentralized and autonomous.

As per several reports circulating on the internet, it is being rumored that in 2020 Decred will deploy an innovative hybrid proof of work (PoW) and proof of stake (PoS) consensus voting system to fight global censorship that is currently affecting a large number of people all over the world.

  • All-time High (ATH) Value: $117.76
  • Market Debut: February 2016
  • 2019 High: $35.91
  • 2019 Low: $12.99


One of the largest cryptocurrencies by total market capitalization today, Bitcoin Cash (BCH) came into existence back in 2017 after several key personnel associated with the BTC ecosystem started to have differences of opinion regarding the currency’s block size limits. As things stand, while BTC is primarily viewed as a store of value, BCH is marketed more like an everyday payment currency.

Additionally, it also bears mentioning that back in November 2018, BCH underwent a hard fork that saw the creation of Bitcoin Cash (BCH) and Bitcoin Satoshi’s Vision (BSV).

  • All-time High (ATH) Value: $3,764
  • Market Debut: July 2017
  • 2019 High: $508
  • 2019 Low: $118.57

Top 20 CryptoAssets Recap

The world of bitcoin, cryptocurrency and blockchain is happening fast. While some want the bitcoin price to moon before, during and after the bitcoin halving, there are many coins, tokens and blockchain projects that are worthy of growing into major players in the 20’s decade.

While BitcoinExchangeGuide covers all trending news and updates, and remains unbiased towards which coins, tokens and cryptoassets covered in our daily cycle of announcements and events, these digital assets stand out as ones we are recommending everyone keep a close eye on as they have real people, real visions and real momentum to withstand the ups and downs of the crypto market and stand the test of time as the world welcomes the blockchain-based era of finance.

These 20 coins are the most prominent virtual currencies to start the new decade and hold further promise that all bitcoiners and crypto enthusiasts should watch out for in 2020. Special shoutout to the resources, industry and experts who helped weigh in on which are the best cryptos to keep an eye out for this year.

Leave comments and feedback below about which coins should be added or shouldn’t make the list of potential catalysts in the 20’s decade.

Read Original/a>
Author: Andrew Tuts

Bitcoin Has Evolved Into A Savings Technology And A Tool for Freedom: Fidelity Digital Assets

As the past decade ends, the latest mainstream big shot entrant in the crypto industry Fidelity Investments reflected on the maturation of the infrastructure of the Bitcoin market. The report states,

“In a few short years, Bitcoin’s story has critically evolved to recognize the true potential of the network — as a new type of value transfer system, a tool for freedom, a savings technology and possibly more that we have yet to discover.”

Despite there being unanswered questions, Fidelity Digital Assets says Bitcoin has “cemented” its position and its “potential cannot be ignored.”

Making Progress

Taking a deep dive into its progress, it can be found that trading and investment on regulated platforms are growing while value transferred over Bitcoin is “competitive with incumbent value transfer systems.”

The launch of regulated physically settled futures contracts has been the major development in 2019, noted the asset manager. This launch made the market less subject to manipulation by removing the need for an index of spot exchange prices to determine the price.

2019 also saw Square rolling its support for BTC buying and selling, with $339 million worth of BTC purchased by its customers via Cash App.

Square efforts are driven by CEO Jack Dorsey who believes bitcoin can become the currency that will power the Internet. Dorsey has also invested in Lightning Labs and CoinList while launching Square Crypto.

Bitcoin’s Core Properties Will Drive Its Adoption

When it comes to key performance indicators, Bitcoin’s realized value, the average fair value of mined BTC adjusted with short-term volatility, reached its all-time high. 2019 also saw the network’s hash rate climbing to ATH of 110 million TH/s driven by rising prices, improvements in the efficiency and computational power of mining gear, and more mining operations joining the network.

The adjusted transaction volume on the Bitcoin network in 2019 although less than the previous year recorded the same as PayPal. However, the average transaction size is comparable to the ACH transaction size.

The leader of the market has been seeing an increasing and “diverse and entrenched” community of users, especially in the past two years. All the while, maintaining its core properties of being borderless, decentralized value storage, antifragile, and censorship and seizure resistant. And these properties will be what will drive the adoption, says the report.

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Author: AnTy

Over 49% Bitcoiners Believe the Bitcoin Price is Going to a $1 Million Dollars in the Next Decade

  • BTC ready to end 2019 with 92.5% and the decade at about $7,200
  • Currently, the market is in consolidation meaning “weak die off but the strong get stronger”
  • BTC will print a trend reversal if it closes above $7,800 until then the price will range

We are just a step away from entering into 2020 and Bitcoin is going to end the year at a positive return of 92.5%.

At the time of writing, BTC/USD has been trading at $7,200. Meanwhile, as the holidays continue, trading volume continues to sink as in the past 24 hours, Bitcoin recorded a trading volume of a mere $254 million.

So, what season is it exactly?

Mati Greenspan, founder of investment firm Quantum Economics in his Monday newsletter notes that after turning into spring at the beginning of this year from 2018’s crypto winter, now we are simply in consolidation.

And what it means is,

“The weak die off but the strong get stronger. It’s the way of nature and though may seem painful at times is actually a positive progression.”

As we reported, analyst Willy Woo has called it a “re-accumulation phase of a bull market.” Su Zhu of Three Arrows Capital also made an accumulation observation.

BTC Trend Reversal Patterns in the Making

Meanwhile, trader Josh Rager says we need to break above $7,800 and close above that for the market to signal a trend reversal.

“Until then, price continues to range with possible accumulation (over five weeks in this range),” added Rager.

Trader Jonny Moe also notes two potential BTC reversal patterns in progress, double bottom with a neckline at about $7,875 and inverse head and shoulders with a neckline at $7,700.

Along with this is another positive facet which is “year-end is traditionally a very important time for BTC trend reversals/confirmations.”

Also, we are seeing a miner capitulation completion signal that has occurred only a handful of times, 9 times in Bitcoin’s history.

“Hash Ribbons Buy confirmed. This is just the 10th time these conditions have been met for Bitcoin. It is highly likely we never see BTC under $6000 ever again. All other occasions saw an average gain-to-cycle-peak of +5000%,” points out Charles Edwards of digital asset management firm Capriole.

However, Moe warns that none of these positive signals matter until we break the necklines of $7,875 and $7,700.

Bitcoin to $1 Million

In the short term, Bitcoin has a lot of pain and gain coming its way but in the long term, people see it jumping past a million dollars.

A poll run by Greenspan on Twitter found that a staggering 49.2%, almost half of the 2,854 respondents believe that Bitcoin will be worth more than $1 million by the end of the decade.

It won’t be a big feat for Bitcoin, given that it has been the best performing asset of the decade already.

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Author: AnTy