Showing posts with label bitcoinnews. Show all posts
Showing posts with label bitcoinnews. Show all posts
Thursday, 8 September 2022
Friday, 4 January 2019
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.
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Does Stock Market Crash: Good or Bad for Bitcoin?
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The two events in the first two days of the trading in 2019 have dragged down nearly every index in the United States
The utmost question doing the round currently is whether it is worth investing in cryptocurrencies, especially Bitcoin, which is the most valuable digital coin. This is because of some weakness was seen in the stock market in the current week following the weak economic data, as well as, the warning issued by Apple on iPhone sales, which could miss expectations. On the hindsight, it looks like the new asset has an edge after having suffered the most in 2018.
Twin Blow
There was a twin blow for the stock markets, and both have the origin of China. However, cryptocurrencies movement does not depend on either China or its encouragement currently because of a ban of digital coins in any form in the country. In short, there is little dependence on the biggest economy of the world to promote the new age asset class. This would mean that any unfavorable events or economic weakness in China will not have any impact either on bitcoin or on any other cryptocurrencies.
However, the same cannot be said about the stock markets. This was due to the drop in PMI to a contraction territory and Apple’s warning about weak iPhone sales due to people preferring repairs rather than new phones and weaker than expected sales in China. Significantly, this weak scenario came amidst the trade disputes tension between the country and the United States threatening to deteriorate the condition further. As far as cryptos are concerned, the trade tensions have got little impact either currently or in the upcoming periods.
Major Indices Fall
The two events in the first two days of the trading in 2019 have dragged down nearly every index in the United States. For instance, Nasdaq Composite Index fell 3.04 percent on Thursday while Dow Jones Industrial Averages and S&P 500 fell 2.83 percent and 2.48 percent respectively. The biggest drop happened in PHLX Semiconductor and NASDAQ Computer Indexes by 5.94 percent and 5.03 percent respectively. While Oil index slipped 0.86 percent, gold and silver index advanced 1.73 percent.
Green in the 7-Day Period
On the other hand, nine out of the top ten cryptocurrencies are trading in the green in the seven-day period with bitcoin gaining 5.03 percent despite losing 1.0 percent in the 24-hour period. Ethereum gained the most among the top ten with 31.96 percent including 1.76 percent advancement in the 24-hour period. Though bitcoin cash has lost 2.82 percent in the 24-hour period, the digital coin gained 9.73 percent in the seven-day period. Similarly, EOS jumped 16.65 percent in the one-week period even after losing 2.89 percent during the 24-hour period.
Though these cannot be termed as favorable completely, the fact is that cryptos, especially, bitcoin, remain the potential bet to gain if the stocks continued its downtrend. Possibly enough, Bitcoin can become a ‘Safehouse’ for all stock market traders in near future.
How Blockchain Can Help Revolutionize the Gambling Industry
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Gambling is one of the most valuable industries out there with a market capitalization that is expected to cross $520 billion by 2023.
Just like in any other major industry, new technologies infiltrate the gambling sector and provide future opportunities and open new markets. It does therefore not surprising that countries like Malta offer a legal framework for gambling companies to start working in the European territory.
Apart from cryptocurrencies, as means of payment, the blockchain technology itself can make significant transformations in the existing gambling industry. One prime example of how blockchain can be used to help revolutionize the gambling industry is betbox
Betbox is an online application which is designed to work as a high-tech betting platform powered by Ethereum Virtual Machine. Betbox app users can bet on events that are listed on the platform and also create individual events by themselves. Events can be private for a selected audience or shared in public so anyone can join.
Apart from betting events, betbox users can also list personal challenges within the platform so other users can bet on whether the challenge will be accomplished or not. Additionally to this, betbox aims to provide futuristic features to entertain its followers and give them a chance to secure earnings or win a life-changing jackpot.
By making use of the blockchain technology, betbox aims at storing all betting-related information and votes in decentralized locations thus providing transparent and secure data on each bet. (Try the MVP now on www.betbox.app).
Betbox also ensures secure payments within the platform by providing decentralized wallets which will be connected to the user accounts. The betbox coins, which are used to fuel the native OX-Chain will ensure smooth flow of payments within the betbox platform and also makes it convenient for users to place bets quickly. But not only the betbox coins can be used for taking part in events. The ecosystem is designed to enable betting with other currencies and also with FIAT in the future.
What Blockchain Means For Gambling Industry?
As we mentioned in the beginning, the gambling industry is among the most prosperous industries globally. With the introduction of blockchain in gambling, more people will be interested in trying their hands in gambling and betting, thanks to the transparency and security offered by blockchain.
Betbox is one of the best blockchain-backed betting and gambling apps out there and offers a completely legal, convenient and secure environment.
As blockchain becomes more prominent everywhere, we will surely be able to see more platforms like betbox that incorporate the features and efficiency of blockchain into the gambling industry. But will there be space next to this industry leader?
Thursday, 3 January 2019
Investor Fred Wilson says Crypto will enter “new bullish phase” in 2019
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Despite increased pressure on the crypto sector, he believes it’s going to be a year of progress for business, adoption and smart contracts.
With the new year now thoroughly welcomed in, businessman Fred Wilson believes the crypto market will bottom in 2019, entering a “new bullish phase,” according to a recent statement.
The early Twitter and Tumblr investor welcomed in the new year on his blog, before laying out his predictions for 2019. They’re not quite the chipper aphorisms smattering the New Years’ cards, but crypto will nevertheless experience several promising developments this new year, according to him.
First up, Wilson predicts that the US will receive a new president by the end of 2019, and that the S&P 500 would likely hit 2,000, where he expects it to stay for most of the year. He also said that it could take most of 2019 to find the bottom on crypto-tokens.
“I expect we will see some bullish runs, followed by selling pressures taking us back to retest the lows. I think this bottoming out process will end sometime in 2019 and we will slowly enter a new bullish phase in crypto.”
How will this ‘bullish phase’ come about? Wilson believes 2019 will be the year in which many promises made in 2017 are fulfilled, specifically the launch of “big name projects,” (such as Protocol Labs’ Filecoin project), and ‘next-gen’ smart contract platforms that will “challenge Ethereum for leadership in this super important area of the crypto sector.”
He continued that he also expects Ethereum’s open source community to “ship a number of important improvements to its system in 2019 and defend their leadership in the smart contract space,” and expects to see “meaningful progress” for stablecoins, cryptoassets and gaming, and earn-spend opportunities overseas.
The crypto sector will see its fair share of pressure, though, particularly from regulators and fraudulent schemes.
“The area I am most concerned about are actions brought by misguided regulators who will take aim at high quality projects and harm them. And we will continue to see all sorts of failures, from scams, hacks, failed projects, and losing investments be a drag on the sector.” he wrote. Even so, he remains “incredibly optimistic” about 2019,
“That is always the case with a new emerging technology that allows anyone to set up shop and get going.” he continued. “Permissionless innovation produces the greatest gains over time but also comes with the inevitable bad actors and actions.”
For Wilson, it’ll be a case of taking crypto with a pinch of salt over this next year. Whether from progress or pressure, he’s convinced “it is going to be a doozy.”
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Despite increased pressure on the crypto sector, he believes it’s going to be a year of progress for business, adoption and smart contracts.
With the new year now thoroughly welcomed in, businessman Fred Wilson believes the crypto market will bottom in 2019, entering a “new bullish phase,” according to a recent statement.
The early Twitter and Tumblr investor welcomed in the new year on his blog, before laying out his predictions for 2019. They’re not quite the chipper aphorisms smattering the New Years’ cards, but crypto will nevertheless experience several promising developments this new year, according to him.
First up, Wilson predicts that the US will receive a new president by the end of 2019, and that the S&P 500 would likely hit 2,000, where he expects it to stay for most of the year. He also said that it could take most of 2019 to find the bottom on crypto-tokens.
“I expect we will see some bullish runs, followed by selling pressures taking us back to retest the lows. I think this bottoming out process will end sometime in 2019 and we will slowly enter a new bullish phase in crypto.”
How will this ‘bullish phase’ come about? Wilson believes 2019 will be the year in which many promises made in 2017 are fulfilled, specifically the launch of “big name projects,” (such as Protocol Labs’ Filecoin project), and ‘next-gen’ smart contract platforms that will “challenge Ethereum for leadership in this super important area of the crypto sector.”
He continued that he also expects Ethereum’s open source community to “ship a number of important improvements to its system in 2019 and defend their leadership in the smart contract space,” and expects to see “meaningful progress” for stablecoins, cryptoassets and gaming, and earn-spend opportunities overseas.
The crypto sector will see its fair share of pressure, though, particularly from regulators and fraudulent schemes.
“The area I am most concerned about are actions brought by misguided regulators who will take aim at high quality projects and harm them. And we will continue to see all sorts of failures, from scams, hacks, failed projects, and losing investments be a drag on the sector.” he wrote. Even so, he remains “incredibly optimistic” about 2019,
“That is always the case with a new emerging technology that allows anyone to set up shop and get going.” he continued. “Permissionless innovation produces the greatest gains over time but also comes with the inevitable bad actors and actions.”
For Wilson, it’ll be a case of taking crypto with a pinch of salt over this next year. Whether from progress or pressure, he’s convinced “it is going to be a doozy.”
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