The bitcoin price today is $10,402.35. It’s been an exciting week for bitcoin price and the world markets in general. Let’s take a look at some of the most compelling situations in the world affecting the bitcoin price today.
The traditional markets are heating up with volatility stemming from the raging trade war. Chinese officials retaliated with their own tariff impositions on more than $75 billion worth of goods. Hong Kong protests over human rights persist. The forgotten Yellow Vest movement or the Mouvement des gilets jaunes is still present in France (ongoing for eight months and 29 days). Countries across the world have pursued interest rate cuts and broader recession fears again weigh on many minds. All of this in addition to mixed signals from the United States Federal Reserve. Investors pile into safe assets such as treasuries, bonds, and real estate, pushing prices up and yields down. Gold trades at above $1400 per ounce while equities are still mostly bullish.
For traders and investors, these events should compel more thoughtful actions. It may be easy to lose one’s cool in these volatile times, but opportunities for investment are still there. Bitcoin still trades in the $10,000 range and the bitcoin price today remains steady. The Bitcoin market cap is at 186.349 billion, a drop in the bucket when compared to the aggregate global bond markets ($100T) and stocks (more than $70T) and gold (more than $3T).
The Bitcoin Price Today and Bitcoin Events
Lolli and Postmates
Lolli is partnering up with Postmates to bring you bitcoin back on every single purchase. That’s a pretty big deal for Lolli and Postmates. The synergistic relationship should be good for growth and very beneficial for all parties (Lolli, Postmates, and bitcoin). Users can receive significant bitcoin back per order and an upwards of $10 worth of bitcoin for their first order. Lolli partners with leading brands like Adidas, Udemy, Hotels.com, and other brands to bring bitcoin to the masses for doing what they would typically do. Further partnerships like this one should contribute to higher bitcoin prices as more potential hodlers join the bitcoin community.
Square Crypto Adds a Core Bitcoin Developer to The Team
The publicly-traded company, Square, is slowly becoming a vital part of the bitcoin ecosystem. The company announced its division for bitcoin earlier this year and continues to grow its team to make bitcoin user-friendly. Their recent hire, Matt Corallo, is a Blockstream founder and open-source developer in the bitcoin sector. Corallo is expected to be a key asset to the Square Crypto team. Square Crypto, not Square Bitcoin, might even support other widely traded cryptocurrencies in the future.
The Bitcoin Price and the General Crypto Ecosystem
Binance launched its Venus Project, and the Facebook Libra project still faces regulatory hurdles. Binance continues to be an active player in this market as they branch out and work with countries from Argentina to the US to foster and develop the overall crypto ecosystem. The Venus Project should support “development of localized stablecoins” which may bring more liquidity into the crypto ecosystem. While stablecoins may bring more liquidity by allowing people to quickly trade from their local currency to bitcoin and vice versa, stablecoins are still linked to inflationary assets that decline in value, so while they’re good for trading, they’re not great long-term stores of value.
