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[NEWS BLOG]: Has The Crypto Market Bottomed After Bitcoin’s 50% Collapse?
Cryptocurrency analyst Thies recently drew attention to a clear sign that the bottom in the cryptocurrency market is finally here. He noted that according to TradingView’s Total2 trading pair (all digital assets sans Bitcoin), “last week alone showed the highest buying volume for the altcoin markets ever recorded.”
While some say that this data masks reality in part, there is no doubt there has been a lot of buying pressure in the cryptocurrency markets as of the past week, hence the absolute explosion in the price of Ethereum Classic, Bitcoin Satoshi’s Vision, and many, many others.
Bitcoin Preparing to Burst Higher
So, is the - read more.
OTHER RELATED NEWS
What is XRP ?
XRP is a token used for representing the transfer of value across the Ripple Network. The main purpose of XRP is to be a mediator for other - both cryptocurrencies and fiat - exchanges. The best way to describe XRP is a ‘Joker’. Not the creepy Batman enemy, but the card that can be any other card. If you want to exchange dollars to euro, it can be dollar with dollars and euro with euros to minimize the commission. As highlighted above, the transaction cost on Ripple is $0.00001.
An interesting fact: after the transaction the amount of $0.00001 ‘disappears’ - read more.
Ethereum Price Fell 43% Yesterday — That Was Its Worst Day… Ever
Ethereum Falls Off a Cliff
According to data from Nic Carter, a Bitcoin/industry startup investor and the co-founder of CoinMetrics, yesterday was Ethereum’s worst day in history; while BTC closed down 40%, the second-largest cryptocurrency lost 43% on the day, clearly marking its worst performance ever.
The last time it dropped even remotely close to this hard was amid 2017’s tumultuous uptrend, which was marked by large bouts of volatility due to global news and technical developments regarding cryptocurrencies.
Ethereum’s dramatic crash has had some serious effects on users of the ecosystem, not just investors.
As a result of Thursday’s volatility, - read more.
Halving Priced In or Not, Bitcoin’s Trajectory Bullish for 2020: Exec
In less than six months’ time, Bitcoin will see an extremely important event. Known as a “halving” or “halvening,” the number of coins issued per block to miners will get cut in half from 12.5 to 6.25, effectively meaning that BTC’s inflation rate will be cut in half in layman’s terms.
Related Reading: Don’t Withdraw Bitcoin From Binance to Privacy Wallets, User Warns
The halving mechanism, should it be kept in the code in the decades to come, will ensure that there will only be 21 million Bitcoin in existence. Ever. This ties into Satoshi Nakamoto’s seeming obsession with creating a scarce, hard - read more.