El Salvador announced plans to legalize the cryptocurrency later that year – Crypto Trading Futures

El Salvador announced plans to legalize the cryptocurrency later that year – Crypto Trading Futures

In 2019 Cryptos Will Gradually Enter a Bullish Phase, Says VC Fred Wilson

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The bears ruled the entire cryptocurrency market in the whole of 2018. Analysts and investors believed that things would turn up after every plunge only for them to get worse. However, the rally experienced during the last week of 2018 revived hope of a bullish market in 2019.

Fred Wilson, venture capitalist, blogger and Union Square Ventures co-founder, the company which invested in such brands as Twitter, Tumblr, Foursquare, Zynga, Kickstarter, has published his annual post projecting what will happen in the year ahead.

In the post, he tries to divine the financial worlds and technology. He expects a bumpy ride for investors with shaky equities markets and he believes Trump is a one-term president. Despite all the mishaps expected to happen in 2019 globally with China’s growth rate also slowing down considerably, Wilson remains extensively optimistic.




The technology investor acknowledged that 2018 was a devastating phase for the crypto world with bitcoin shedding over 70% of its value. Many in the crypto space are wondering whether the latest drop is the bottom or if the worst is yet to happen. Although Wilson says that 2019 is going to be rough, he believes that there is some light at the end of the tunnel.

Bulls at the End of the Tunnel
The recent drops are just part of the process of finding the bottom for the large, liquid, and lasting crypto-tokens. But, the process may take much of 2019 to play out perfectly. There might be some bullish runs, followed by significant selling pressures that will push the markets to retest the lows.

After the bottoming out process ends later in 2019, the markets will gradually enter a new bullish era. Wilson expects that the launch of anticipated blockchain-based projects will give the cryptocurrency markets the much-needed momentum. Smart Contracts will also deliver some real progress.

Fred Wilson said:

“I think we will see a number of “next gen” smart contract platforms ship and challenge Ethereum for leadership in this super important area of the crypto sector. I also expect the Ethereum open source community to ship a number of important improvements to its system in 2019 and defend their leadership in the smart contract space.”

However, the success of the markets is also dependent on regulators who may make misguided rules that may harm the budding high-quality projects. More crypto scams and failures are on the horizon as well since the technology is still new and not yet mainstream. Although there are several stumbling blocks in the crypto markets for 2019, Wilson presents a generally positive outlook for the future of crypto.

This message may give a sigh of relief for the undecided investors who are advised to wait out most of 2019 until the bullish phase dominates the markets.

Binance is Most Trusted Crypto Exchange Despite Light Regulation” says Su Zhu

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Three Arrows Capital CEO, Su Zhu recently said that Binance, the world’s major crypto exchange is the most trusted exchange amongst investors in the crypto community.

Zhu responded to a poll ran by a small crypto exchange on Twitter and said that Binance a lightly regulated exchange has become the most trusted crypto exchange amongst the real users. He further added that one cannot build trust by obtaining government licenses or rubber stamps.

In most of the sectors, regulators impose some strict limitations on crypto trading to avert the use of crypto assets in money laundering and illicit acts. Even if the main platform of the world’s largest crypto exchange focuses on pure crypto-to-crypto trading, it also runs some strictly regulated fiat-to-crypto exchanges in Uganda. And it is soon going to operate one in Singapore with the support of local banks and Singaporean authorities.

Binance especially benefits from the crypto-friendly rules that Malta has imposed to facilitate the development of a local crypto market. Yet as a Europe country, Malta also has some determined financial rules and policies that the crypto exchange have to follow.

Key Focus on Security and Investor Protection
Ever since Binance was launched, it has always focused on security and investor protection. And even today, Binance remains to be in a reputable group of crypto exchanges besides Coinbase and a few other exchanges that have not suffered any sort of security breach and hacking attack since the launch.

Nevertheless, the trust that actual traders and investors have on Binance likely comes from the track record of the firm and the systematic communication betwixt the exchange’s officials and the community.

Binance CEO, Changpeng Zhao is well known for providing frequent updates about potential updates, announcements and changes related to the exchange. For instance, when previously Binance ran an important server and database updates, the CEO and the team of the exchange provided hourly updates, assuring that the investor’s funds remain safe on the platform.

And without any sort of regulatory pressure, the exchange voluntarily collaborated with a blockchain data analysis firm called Chainalysis that monitors transactions and wallets involved in criminal and fraudulent acts.

However, for major exchanges that take steps to prevent the use of crypto assets in illicit acts and which are well equipped with strong internal management systems, a self-regulatory status can be considered to offer regulatory clemency to the swiftly developing crypto market.

Why does SEC Commissioner Hester Peirce fight for a Bitcoin ETF?

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Hester Peirce is a Commissioner of the Securities and Exchange Comission (SEC) and has repeatedly made headlines in the crypto world this year as she has been perhaps the most outspoken voice for the approval of a Bitcoin ETF. Although this has so far failed to lead to realization, she has been clear in her view that the SEC needs to embrace this new technology with realistic regulation, not ignore it or ban it outright.

Commissioner Peirce graduated from Case Western Reserve University with a BA in Economics and then went on to get her JD from Yale Law School, graduating in 1997. She worked as a clerk for Judge Roger Barry Andewelt on the Court of Federal Claims and then for the law firm Wilmer, Cutler & Pickering.

After that she got her first work at the SEC, first as a Staff Attorney and then as counsel to Commissioner Paul S. Atkins. This led to her joining Senator Richard Shelby’s Committee on Banking, Housing, and Urban Affairs. During this time she oversaw aspects of regulatory recovery from the 2008 financial crisis and the implementation of the Dodd-Frank Act.

It is perhaps not surprising that Peirce eventually took the views on cryptocurrency she has, as it is the 2008 financial crisis that also inspired the creation of Bitcoin in the first place. In some ways, both Peirce and crypto were forged by the fires of this crisis.

Peirce then went on to become a Senior Research Fellow and Director of the Financial Markets Working Group at the Mercatus Center at George Mason University. During this time her research focused around the role of regulation in working markets.

Finally, in 2018 she was appointed Commissioner at the SEC by President Donald Trump, a role she still has to this day.

Her role in defending a path to a Bitcoin ETF

Commissioner Peirce first got the attention of the crypto community in July of this year when she famously dissented from the SEC's decision to deny rule changes that would have allowed for a Winklevoss Bitcoin ETF.





Peirce feels the mistake the SEC made was that it used the reasoning that the market for Bitcoin was too underdeveloped and risky for investors. Peirce points out that it is not the job of the SEC to determine the safety of the market but rather create the rules that protect investors from unsafe markets. Ironically, rejecting new rules because the market isn't safe is only reinforcing an unsafe market.

In Peirce's own words:

"More institutional participation would ameliorate many of the Commission’s concerns with the bitcoin market that underlie its disapproval order. More generally, the Commission’s interpretation and application of the statutory standard sends a strong signal that innovation is unwelcome in our markets, a signal that may have effects far beyond the fate of bitcoin ETPs."

Taking such a vocal stance on the subject, and a very reasonable and well explained one at that, immediately attracted the love of the cryptocurrency community and earning her the unofficial title of “Crypto Mom.”