Home CryptocurrencyBitcoin Spot Check on Bitcoin and Other Crypto News | January 11, 2020

Spot Check on Bitcoin and Other Crypto News | January 11, 2020

by Alan Daniel
, Spot Check on Bitcoin and Other Crypto News | January 11, 2020

The bitcoin price today is $8,100. Now, that’s surprising, but we’re expecting big moves for the currency this year.

Let’s take a look at some of the exciting points happening within the bitcoin and fiat world today.

The Bitcoin Price and Recent Events

Elon Musk and Bitcoin

The current CEO of Tesla, Elon Musk, is continuing his Twitter hi-jinks, providing joy to his many followers. Recently, he tweeted that “bitcoin is not his safe word”.

What’s intriguing is that he’s continuing to evangelize bitcoin. He’s doing so in a less serious manner by mentioning the currency randomly on his twitter feed.

MakerDAO and CES

We can’t count cryptocurrency out just yet.

There’s a variety of different organizations that are pushing forward and spreading the use or value of cryptocurrency in various ways. One of these entities is MakerDAO, the creator of the more decentralized stablecoin, DAI. The leaders of the project were present at CES, talking about the asset under the “digital money section” of CES.

Now, the fact that CES, one of the largest trade-shows related to tech, is even entertaining the concept of digital money, is, in my view, progress.

What’s got me thinking is the fact that MakerDAO was the only one that was present for CES digital money, when there’s a host of projects within the sector. Sure, there’s scammy one’s, but there’s several legitimate ones too. Sure, according to reports, other ancillary crypto ecosystem providers were also present, but the only cryptocurrency-related project exhibiting was MakerDAO and DAI.

Why was MakerDAO the only cryptocurrency project at CES? The others didn’t see value in going to one of the most significant tech events in the world? I would think that Ripple Labs would have some incentive to be present at CES to take advantage of the different opportunities that come about with the wide variety of companies and representatives of said companies that show up.

MakerDAO may have more opportunities as it aims to be a stablecoin and offers simple lending and savings functionalities.

Not Your Keys Not Your Coins

Its 2020, but I’m sad to say that your coins are still not safe on third party exchanges or other storage facilities that stay hot. Cold wallets are where the value is.

Indeed, that’s where it’s always been.

We’re starting the New Year by saying goodbye to another exchange.

Well, for a little bit.

That’s right.

Cobinhood is closing down for a month.

Yes, they’ll be gone for a whole month, to “audit all account balances from Jan 10 to Feb 9 in 2020.” If you didn’t remove funds before then, you’ll have to wait until they re-open to access your funds. Lastly, a warning on the Cobinhood site reads, “Please DO NOT make any deposits; it may result in permanent loss.”





Disclaimer
Content provided by Crypto,Trader,News. is for informational purposes only, and should not be construed as legal, tax, investment, financial, or other advice. All information is of a general nature. As always, there is risk with any investment. In exchange for using our products and services, you agree not to hold Crypto,Trader,News. Pro, its affiliates, or any third party service provider liable for any possible claim for damages arising from decisions you make based on information made available to you through our services.

The bitcoin price today, January 4, 2020 is $7,190. Let’s take a look at the recent happenings within the bitcoin ecosystem and the fiat world.

The Bitcoin Price and Crypto

Well, folks, there’s not a lot of good going on when it comes to the price in crypto land when looking at it in the short term. But if we were to look at it from last year, we see a different story. The bitcoin price has gone up from the $3,700 range to the current level of $6,700 – $7,000 range. Granted, it is a different tale for the other stronghold in the sector, ETH, which has slightly declined on a year’s time-frame. XRP has, unfortunately, disappointed many bag-holders out there in the marketplace with a steep decline over a year. Litecoin is mostly flat over a year, and so is the crowd-favorite, EOS.

So, what’s going on here?

It just might be what the original crypto believers expect to happen, the value drains from tokens that don’t make any sense, causing a steep decline in prices, with more benefit accruing to bitcoin. I think that the hype is dying but also token-economics matter. Your project must bring something to the table and show that the token-holders can participate in value generated by your crypto project. 2017 is gone.

It’s 2020 now.

You must have a vision but also do something about it and step your game up.

The most significant accomplishment in the crypto world regarding prices may have been the lack of a rally.

Why?

It shows maturity and more attention to real activity and growth in the crypto world.

At the same time, stocks are roaring like it’s 1999, so investors may be paying more attention to the stock gains instead of crypto. Let’s take a look at some of the exciting events taking place in the world of fiat.

The Bitcoin Price and Fiat World

Central Bankers in China Are Partying Hard

Chinese Central Bankers want to rock the Chinese economy and ring in a great new year by adding more life to the Chinese economy. China stocks traded up on the news.

How did the Chinese central bankers bless the markets?

They relaxed reserve requirements for banks, loosening the money supply further, and ideally stimulating the Chinese economy. The idea is that commercial banks will have fewer reserve requirements, thus giving them the ability to lend money and allow people to transact further.

They’re unlocking $115 billion, which should flow to the real economy.

Like Oprah, the Chinese Central Bank is essentially saying, you get a loan, and you get a loan, and you get a loan!

If everything works out, according to expectations, small businesses will prosper, jobs will remain, and the Chinese economy and the broader economy should get a positive boost.

2020 May Bring New Stock Market Highs

We may see stocks melting up this year.

President Trump expresses interest in signing an interim trade deal within the first month of 2020. Central banks may coordinate further easing into the year, and investors seem like they have confidence.






Disclaimer
Content provided by CryptoTraderNews is for informational purposes only, and should not be construed as legal, tax, investment, financial, or other advice. All information is of a general nature. As always, there is risk with any investment. In exchange for using our products and services, you agree not to hold CryptoTraderNews Pro, its affiliates, or any third party service provider liable for any possible claim for damages arising from decisions you make based on information made available to you through our services.

The Bitcoin price today is $7,309.83. We all know that something is always happening in cryptocurrency land and the general economy.

Let’s take a look at what happened so far this week.

The Bitcoin Price and Cryptocurrency Land

Youtube Bans Crypto?

You either de-platform yourself, or you live long enough to be de-platformed by the likes of Twitter, Youtube, and other platform administrators.

Youtube sent a lot of crypto content creators packing this last week or demonetizing their content. It’s an interesting action in an era of emerging decentralization.

Granted, many of these content creators may have shilled ICO’s and altcoins, granted, you can search in youtube “introduction to bitcoin” and find videos explaining what it is, and sure, all crypto-related content is not gone.

But it is still something to consider as creators input effort and time to create content that they hope to preserve and possibly earn money from over time. They don’t want to be at the mercy of an all-powerful platform that may be able to banish their videos at a moment’s notice.

Creators need certainty to create, build a following, and have the opportunity to monetize. Now, to monetize, they will need to have visibility and recognition, factors that usually occur overnight.

Powerful platforms such as Youtube, Twitter, and others provide creators with a built-in audience that they can find and cater to and capture a portion of that audience. The issue is that of centralization and random acts of censorship.

We may see compelling decentralized solutions that come about which fix the issues created by more centralized platforms. In fact, it will be quite valuable to figure out, as the cryptocurrency and decentralization sector needs further wins.


Tencent Steps it Up On Digital Currency Research

The large Chinese technology giant, Tencent, aims to do more blockchain technology. Leaders at Tencent have sanctioned the creation of a digital currency research division to discover further implementations of cryptocurrencies. This news is not startling as the Chinese government is also stepping up the rhetoric in regards to technology and the overall growth of innovation.

Tencent must explore innovations to keep its competitive lead and justify its valuation.

The company may make strides in payments and other business segments by utilizing blockchain technology and cryptocurrencies to create further advancements, at least, that’s the hope. Tencent must make sure to account for working within the current Chinese regulatory framework and innovate within certain bounds. Further, the technology giant may work with the Chinese government to deploy blockchain-based currencies and structures.

Tencent already has a significant installed base with applications such as WeChat that has different use cases from messaging to payments. It is a behemoth in the technology industry and will likely remain that way as it continues to adopt and adapt to the latest technological advancements.

Bitcoin Price and the Fiat World

Markets Are At All-Time Highs

The stock markets keep going up, and that’s great, but the question on everyone’s mind is if it will last and when it will reverse. So far, on the surface, things look great.

Amazon and many other technology firms lead the way to even better highs.

What’s even funnier is that firms like Citi and others expect stocks to rip even higher in 2020.

But stocks are based on revenues, on net income, value, and expected cash flows, and the fundamentals don’t look as rosy as they need to. Sure, stocks are ripping higher on market enthusiasm, and prices seem to be out of wack, but should it be that way?

When do stocks revert to reasonable levels?

At the same time, we also see reports where low earning Americans see wage growth, unemployment rates are low, and the American consumer seems to remain healthy.

Meanwhile, on a macroeconomic level, real GDP is shrinking for many of the world’s strongest economies.

We are living in some of the most exciting times right now, where things look tremendous and sour at the same time.

The Bitcoin price today is $7,123.05. A few exciting events happened this week in cryptocurrency land.

Let’s take a look at what happened so far this week.


The Bitcoin Price Today and Cryptocurrency

Jack Dorsey, The CEO of Twitter is Very Bullish on Protocols

“Twitter is funding a small independent team of up to five open source architects, engineers, and designers to develop an open and decentralized standard for social media. The goal is for Twitter to ultimately be a client of this standard.”

It looks like Dorsey has a thing for decentralization and adopting new technology in the right way. He proved that by helping to ideate Twitter, then by co-founding Square and empower small businesses everywhere, then finally by improving Square and Twitter over time. Of course, he didn’t bring all these innovations by himself. Dorsey always had a talented team to help him out and make technology-oriented magic happen.

Dorsey embraced Bitcoin and integrated it into Cash app, created Square Crypto, and is now going back to social media. He thinks that social media can be decentralized. Through a project called Blue Sky, he aims to have a decentralized approach to social media.

Of course, Dorsey will curate a team of open source enthusiasts, designers, and developers that will create and develop the project.

The central idea is that protocols should exist over the current wave of platforms.

That’s a significant shift because the current world runs on platforms.

Think about it.

The Amazon AWS platform, Microsoft, Facebook, and its ecosystem, Apple, Google, Airbnb, Uber, and other giants that serve as the core, act as platforms, and people build on top of them or act as a partner or a user.

The interesting question is in this scenario is how does that potential shift from platform to protocol changes the user experience. Further, how does the financial equation change for the platform?

Does this project mean that everything will change overnight? Certainly not, look at the growth of the world wide web and the Internet. It took over 30 years from research to deployment and further reiteration to get to where we are today.

Regarding changes that Blue Sky hopes to bring about in the world.

Will things change faster than we think? Yes. But how soon? That’s the critical question.

Value capture works differently, with the central organization capturing significant portions of the value. How will it work in a decentralized structure?

Blue Sky Dreams or Realities?

This announcement seems like it is going in the right direction, but is it feasible or something that people can come to consensus around in today’s monetized day and age?

I don’t know.

I think changes will take place to address the issues caused by heavily centralized platforms. But I don’t know how profound these changes will be and how much of an effect it will have on society.

Bitcoin is a revitalization of initial internet and web principles, it helps to embody the ethos of the initial days, but will it continue to do so as brokerages and institutions support it?







Disclaimer
Content provided by CryptoTraderNews is for informational purposes only, and should not be construed as legal, tax, investment, financial, or other advice. All information is of a general nature. As always, there is risk with any investment. In exchange for using our products and services, you agree not to hold CryptoTraderNews Pro, its affiliates, or any third party service provider liable for any possible claim for damages arising from decisions you make based on information made available to you through our services.

The Bitcoin price today is $7,547.

We, at CryptoTraderNews, will highlight different factors that may impact the Bitcoin price in the present and the future.

Let’s take a look at some compelling events in cryptocurrency and the general economy this past week.

The Bitcoin Price Today and Cryptocurrency Events for This Past Week

BlockFi to Offer Zero-Fee Crypto Trading

Woah!

Another crypto trading platform?

My first thought is, do we need yet another one?

BlockFi sure believes there’s a need, as noted by internal reports and customer studies.

But having another fee less crypto trading platform doesn’t hurt and might be the right approach to bring in a significant userbase for BlockFi.

It is quite likely a great move for BlockFi, a Bitcoin savings and lending company.

Right now, you have one option, deposit Bitcoin with BlockFi and let it earn, soon, you’ll be able to trade with it on one platform.

The corporation lets people trade three key cryptocurrencies, Bitcoin, Ether, and GUSD.

Why are the right moves important for BlockFi and the rest of the Bitcoin economy?

Well, for one thing, BlockFi is essential in the cryptocurrency sector to many different entities who have an investment stake in the firm. Remember that BlockFi backers include Galaxy Digital Holdings, the Winklevii, and even Joseph Lubin’s firm, Consensys. Each of these firms, and more expect BlockFi leaders to make the right decisions to bring home the correct returns.

But how BlockFi earn money from this move?

Simple.

They will take the Robinhood approach and sell anonymized trading data to whales.

Market makers gravitate toward the BlockFi platform, incentivized by trading data, and BlockFi gets to become a contender in the trading sector over time.

The corporation will seek to double down on efforts to increase its user base by adding more coins such as litecoin and USDC, in addition to deploying further services such as fiat-to-crypto trading, and a crypto rewards credit card.

Again, to me, BlockFi and further planning to draw more people into the cryptocurrency ecosystem is one indicator of long-term planning in the Bitcoin economy and the cryptocurrency ecosystem. By investing, adding new product lines, and focusing on building out its own ecosystem, the company is showing that it believes in the future and can utilize Bitcoin and other cryptocurrencies to add value.

Soon, people can buy Bitcoin with BlockFi and have it automatically start earning interest for them without them having to trade actively or do anything else with it.

Figure Lending Raises $103 Million

Morgan Creek Digital and team, including Anthony Pompliano invest $103 million in blockchain-based lending firm, Figure Lending. Financial backers of the firm include the Digital Currency Group and Ribbit Capital.

Figure Lending is seeing success in its home equity line of credit products, and expands into other debt solutions for students, refinances, and other financial aspects.

The firm continues to originate loans and has processed more than $700 million worth within the past year. Blockchain integration allows Figure Lending to minimize friction in processing loans and saves costs.

Lending is a sector to watch.






Disclaimer
Content provided by CryptoTraderNews is for informational purposes only, and should not be construed as legal, tax, investment, financial, or other advice. All information is of a general nature. As always, there is risk with any investment. In exchange for using our products and services, you agree not to hold CryptoTraderNews Pro, its affiliates, or any third party service provider liable for any possible claim for damages arising from decisions you make based on information made available to you through our services.

The bitcoin price today is $7,766.10.

The digital asset, much to the dismay of many, had a bit of a swing downward before picking up on Thanksgiving day.

Let us take a look at some of the compelling events taking place in fiat land today to find out what may affect the bitcoin price in the present and the future.

The Bitcoin Price and Traditional Finance Events

India Economic Growth Halving

The IMF has continually revised its economic growth expectations for the next few years, and more data shows that the International Monetary Fund is estimating accurately. India, an emerging economy, is showing signs of an economic slowdown. Recent GDP reports indicate that the Indian GDP only grew at 4.5% in the latest quarter, slightly down from first-quarter growth of 5%. Meanwhile, fiscal issues are present, with the fiscal deficit being more than 100% for the prior period.

Why this is important: Financial analysts and managers have called for a recession since 2016, but there was one slight issue, it never happened. China showed signs of economic distress in 2015 and 2016, but Chinese equities bounced back, and U.S. equities continue to soar.

But a recession might be on the horizon and may contribute to trader stress levels.

Emerging markets such as India may indicate a more considerable global slowdown as car sales decline, housing construction subsides, and other critical components indicate a further pullback in growth in the Indian economy.

Lending in India is also a bit more constrained. A lack of lending can certainly cause difficulty in growing small businesses and providing spending power.

Finally, the world is more interconnected, and slowdowns in one region can affect corporate earnings elsewhere.

The U.S. and China

The two superpowers continue to battle it out in the trade war. There is little progress in trade talks, and substantial topics such as technological growth, technological theft, and other aspects are still crucial stumbling blocks in relations with China. The Hong Kong situation does not help matters as the United States is in support of the protestors, while the political turmoil leaves Hong Kong in a recessionary state of affairs.

Why this matters: The trade war between China and the United States is an issue that creates uncertainty. The problems are further exacerbated by the economies such as India’s slowing down, showing that further recession potential is possible within China and the United States. We still have yet to see how bitcoin will react in times of deep economic turmoil in the United States and China.


Bears wait for a global reset to get closer to fair value in equities while bulls continue to bank on the Federal Reserve and the potential melt up even further in equities prior to a slowdown.

How will bitcoin and other stocks in your portfolio fare in 2020?

Bitcoin Price Today – November 23, 2019

The bitcoin price today is $7,200. Lets take a look at some of the fascinating things to take place in cryptocurrency land today and the fiat markets this past week.

Bitcoin Price and Cryptocurrency Events

China and the Bitcoin Price

The Peoples Bank of China seems to be ratcheting up its efforts to stifle cryptocurrency organizations within China. A few think that this news may have started the downward trend in the bitcoin price that cryptocurrency enthusiasts face today.

Multi Collateral DAI

MCD launched this past week, opening up new possibilities going forward for further utilization of key tokens as collateral. MakerDAO, the entity behind the DAI project, will also provide different capabilities to lend DAI directly within the DAI system instead of having to turn to external applications like Compound.

Orchid: A Decentralized Virtual Private Network Goes Live

Orchid, a decentralized virtual private network provider, will go live in early December. The network will deploy an app and token (OXT) in the initial phase. The project should be a fascinating one as it states that it will use OXT as a critical component of its system. If the token turns out to be a key-value within this system, it will be a boon, and serve as an excellent example for other projects which seek to have real utility tokens.

Orchid network consumers will use OXT to pay node participants and make use of the bandwidth provided by these players. Staking is also a part of this process, and the system may entail inflation, interest earnings, and other activities and opportunities.

The decentralized project is well funded, with a war chest of over $30 million — marquee names such as Andreesen Horwitz and other venture capital firms invested in the network.

The project is fascinating because it brings about exciting models in the world with secure virtual private networking. Users will expect to see a better experience than with traditional VPN services. Investors hope that this project can supersede traditional VPN limitations regarding jurisdiction and regulatory stifling with its offerings.

Virtual private networks play a critical role in the accessibility of content and limiting censorship of information. Many can see why improved VPN services would bring about further value for users.

While this event does not directly tie to the bitcoin price today it does have an impact on real value events in the future.

Binance Buys WazirX

Binance buying WazirX is another exciting event. First, Binance shows that it is here to stay and is doing everything it can to take the right actions to become a dominant cryptocurrency firm across the world. From its dealings in Argentina to Africa, and now, further activity in South Asia, it is showing BNB token holders and other parts of the community that it is seeking to use capital wisely.

The WazirX acquisition will be a boon to cryptocurrency builders within India, as it shows that even in times of despair, building the right entities make sense. By despair, I mean that many different cryptocurrency exchanges shut down their firms due to regulatory pressure in India.

While India has not outright banned cryptocurrencies in India, banks and other key organizations that facilitate crypto transactions have made it difficult for cryptocurrency exchanges to exist.

Consolidation and buying up assets like WazirX may make sense for Binance. After all, it is a global entity and has relationships across the world. Further, it does seem to have staying power, as seen by BNB rising in bear markets.

Guess how much Binance paid for WazirX? Around $5-$10 million, according to the Economic Times. That seems like a steal to me and could provide for a high upside if the Indian government starts to embrace bitcoin and cryptocurrencies further.

Bitcoin Price Today – November 16th

The price of bitcoin today is $8,858. There’s been a bit of a dip in cryptoland this past week as bitcoin went from the $9,000 range to the mid $8,000 level. Altcoins have also taken a bit of a beating and are largely down.

Let us take a look at some of the most interesting events in cryptoland this past week.


The Bitcoin Price and Cryptocurrency Events

China and Cryptocurrency Mining

China is in the news again regarding cryptocurrency, except this time the country is backing off cryptocurrency mining banning. The international superpower will not substantially restrict crypto mining within its jurisdiction, according to documents released by the government of China. Notable cryptocurrency players have noted this fact and think that this move will be a good one for the leading digital asset bitcoin.

The changes to the policy comes after the speech by President Xi Jinping two weeks ago which helped to bring btc out of its price slump.

China is pressing forward on key technologies such as 5G, blockchain and artificial intelligence as it engages in the trade war with the United States.

The country, by going this route, is acknowledging the importance of cryptocurrency mining and realizing the value of key Chinese companies such as Canaan Creative, Bitmain, and other entities.

Silvergate Goes Public

Silvergate is a cryptocurrency friendly bank. The financial institution is a big deal because it is one that works with several cryptocurrency institutions. Silvergate going public marks a new era for the cryptocurrency as many traditional banking industry participants stayed away from digital money institutions.

The bank serves more than 700 cryptocurrency related entities as of the most recent report. This is not to state that Silvergate doesn’t serve other institutions. The firm also serves fintech providers, institutional investors, and software developers.

Silvergate trades under the ticker symbol, SI, on the New York Stock Exchange.

Coinbase Offers Crypto Staking

Cryptocurrency firms must cement their spot in the world of new banking and one way is to offer interest on deposits. The next way is to be the staking organization, helping to run the network and providing a way for those who deposit to ward off inflation.

Exchanges such as Coinbase will continue to deploy more services such as staking as they hope to grow to meet their valuations and diversify their revenue streams. The US based firm will start staking services with Tezos before moving on to other digital assets. Individuals will have to hold for at least 40 days before seeing rewards show up in their accounts.

Coinbase provided these services to institutional investors earlier this year accounting for

Enthusiasts may be split in this event. Is this a form of centralization and will we revert back to old systems with new players? These are surely good questions to ponder as we progress and evolve in the cryptocurrency industry.

Microsoft and Ethereum Tokens as a Service

Microsoft recently announced their plans to help enterprises mint tokens. The firm wants to make minting tokens to be as simple as possible with Azure, their cloud based platform.

The initiative marks another important event in the cryptocurrency sector where large corporations take the sector seriously and deploy solutions to help foster it along further.






Disclaimer
Content provided by CryptoTraderNews is for informational purposes only, and should not be construed as legal, tax, investment, financial, or other advice. All information is of a general nature. As always, there is risk with any investment. In exchange for using our products and services, you agree not to hold CryptoTraderNews Pro, its affiliates, or any third party service provider liable for any possible claim for damages arising from decisions you make based on information made available to you through our services.

Bitcoin Price Today – November 9th, 2019

The bitcoin price today is $8,470.58. The leading digital asset is range-bound again within the $8,000 – $9,000 level. Here are a few of the most important events that relate to the bitcoin price today and into the future.

Bitcoin Price Today and Traditional Economy Events

President Trump Calls for Negative Interest Rates

The President of the United States continues to bash the Federal Reserve and calls for negative interest rates. Of course, this is a problem. We all know by now that negative interest rates affect savers and can be detrimental to the economy. The Federal Reserve Chairman, Jerome Powell, vehemently disagrees with President Trump and his solution to improving America’s economy. Powell feels that there is no need to cut rates even further to stimulate the economy when the current U.S. economy has relatively steady growth, low inflation, and robust labor pools.

Powell believes the U.S. is different from countries such as Japan and Germany adopt harmful interest rate policies.

He notes, “negative interest rates would certainly not be appropriate in the current environment.” The chairman went on to state, “our economy is in a strong position. We have growth, we have a strong consumer sector, we have inflation … You tend to see negative rates in the larger economies at times when growth is quite low, and inflation is quite low. That’s just not the case here.”

Bitcoiners and those in favor of hard and sound money reel when hearing such talk regarding negative interest rates in the most excellent economy on earth. These proposed actions serve as different forms of taxation to help stimulate the economy. But it doesn’t make sense to stimulate when the economy is doing well.

Your Economy, My Economy

Now, for the critical question on everyone’s mind.

Is the economy doing well?

Recent evidence shows that the economy is growing at a snail’s pace; in other words, it isn’t as robust as many talking heads would have you believe.

The Atlanta Federal Reserve notes through their “GDPNow model” an “estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2019 is 0.3 percent on November 15. GDP growth is slowing down each quarter as expected by several pundits. But conversely, in a startling fashion, stocks keep going up.

Why?

We turn right back to the Federal Reserve. According to recent reports, the Federal Reserve is going back to stimulus efforts, and they correlate to positive stock momentum.

This initiative begs the question, what are investors pricing in for future cash-flows and growth in the future when acquiring stocks?

More rate cuts and infinite stimulus?

General World Economic Conditions

What is going on in different parts of the world?

Hong Kong is now officially in a recession due to political and economic unrest that is occurring there. Political turmoil is present in other areas of the world as more warn about economic inequality. Individuals do not want to suffer from taxes in different ways and may turn to bitcoin as a savings vehicle.

Indeed, protests in France, Chile, and other countries occur because of some form of taxation. Presidential debates in the United States revolve around taxation to increase entitlements. Taxation policies in many different types, from negative interest rates, to taxes on goods, tariff wars, plague investors and consumers today.

The U.S. economy depends on the strength of the consumer. But even there, cracks in the economy appear with subprime loans, where more are late and on the verge of defaulting on loans. All does not seem to be well.

So what are smart bitcoiners and investors to do?

Slowly cut back on debt, increase your earnings, and maybe keep stacking sats.






Disclaimer
Content provided by CryptoTraderNews is for informational purposes only, and should not be construed as legal, tax, investment, financial, or other advice. All information is of a general nature. As always, there is risk with any investment. In exchange for using our products and services, you agree not to hold CryptoTraderNews Pro, its affiliates, or any third party service provider liable for any possible claim for damages arising from decisions you make based on information made available to you through our services.

Bitcoin Price Today – November 2, 2019

The bitcoin price today is $9,258.43. Bitcoin came back last week with full force and is still staying strong within the current range. Let’s take a look at some of the most important trends within the bitcoin sector and general economy today.

General Economy Bitcoin Price Events

The Federal Reserve Lowers Rates

The United States Federal Reserve made a point to lower rates this past week and hinted at a general pause in interest rate reduction moving forward. The Federal Funds Rate will now range from 1 .75% to 2.00%. This is undoubtedly a strange phenomenon in a healthy economy. The Federal Reserve cut interest rates several times this year and will cautiously stop this trend, according to Jerome Powell.

Powell commented that the current standard will “likely to remain appropriate” as everything else remains steady.

They may adjust if they feel it is necessary.

“The committee will continue to monitor the implications of incoming information for the economic outlook as it assesses the appropriate path of the target range for the federal funds rate,” as noted by the report.

Lending organizations and borrowers watch this rate because it can affect them. Lenders may adjust rates to stay competitive, and borrowers may gain additional advantages of paying lower interest on debt depending on certain factors. These standards apply to borrowing in vehicles that range from mortgages to credit cards.

Also, savers can expect a minimal return on their cash holdings in times of lower interest rates, but this has been a long-term trend.

Bitcoiners and digital asset enthusiasts yearn for sound money, and moves like this one bolster their long-term thesis for bitcoin as hard money and a robust long-term store of value. Countries continue to devalue their currencies and conduct a race to the bottom.

Mixed Signals in the Economy

The United States economy is lagging and slowing considerably as it only grew 1.9% according to recent reports by the Commerce Department. Is this a significant problem? It may possibly be if the average consumer is overly burdened by debt and corporations slowly cut back on jobs. Conversely, unemployment rates remain low as of the latest report indicating stability in the economy. Consumers are advised to pay down debt, spend cautiously, and prepare for a potential recession.

Reports indicate that investors may pull funds out of the market and increase cash balances.

Corrections in Tech

We see significant corrections in the private equity technology market. Companies such as Uber, Lyft, Pinterest, Slack, and several Softbank backed startups have not fared well in the public markets. WeWork didn’t even get a chance to make a public debut. Further, many startups are in the process of restructuring their workforce. Fair, Uber, JustEat, Maker Faire, HQ Trivia, Udacity, and other startups have let varying portions of their workforce go.

Global Instability

Hong Kong is nearing or is now in a recession due to regular protests over freedom and rights. This poses a problem as Hong Kong is interconnected within the global economy. Remember that issues present in Hong Kong may have spillover effects in other parts of the world.

Bitcoin Price Today – October 26, 2019

The bitcoin price today is $9,347.00. Surely, bitcoin holders have fared well over the past week. Still, bitcoin has done well over a ten year time horizon and even a two-year time frame. The bitcoin price was at $970.00 at the start of 2017. It is now $9,347.00. It has surely been a roller coaster of a ride this past week as bitcoin swung down to $7,700 before going back to its current levels.

Now a leading digital asset, it was relatively obscure and is currently a mainstream phenomenon with leading entities creating a business around it.

Firms such as Facebook, Paypal, Wells Fargo, Telegram, JP Morgan, Softbank, Overstock, and a slew of others have deployed their initiatives to improve their payment technologies. Discount brokerages and firms such as Fidelity have launched their own digital assets divisions, further bolstering the longevity of bitcoin and digital assets in general.

With that, let us take a look at some of the most notable events that may contribute to the bitcoin price in October 2019.

The Bitcoin Price Today and Blockchain or Cryptocurrency-Related Events

President Xi Jinping made a speech yesterday, wherein he talked about the virtues of blockchain technology. The leader of China noted the importance of blockchain technology and the impact it should have on society. He mentioned how vital it is for China to increase and expand its operations in the blockchain arena.

The Chinese government seems to accelerate its efforts into the blockchain technology and is exploring improvements in supply chains and Internet of Things technologies.

The Chinese leader noted the advancements blockchain technology brings to society and the many potential advantages it will bring about in the world.

Of course, this comes at a time when China is developing its government-backed digital currency and is diving deeply into the blockchain in several ways. We can expect further coordination of resources around the blockchain if the government is seriously interested in ratcheting up efforts to implement blockchain technology at a large scale in Chinese society.

A speech of this nature is quite essential and gives further credence to the growth and value of the blockchain technology in society today. Such a move indicates further involvement by governments in the blockchain sector and will likely spur even more interest in digital assets such as bitcoin.

The Bitcoin Price Today and Larger Macro Events

Political Uncertainty Grows
Bitcoin is currently a risk asset on the verge of becoming a safe haven asset at a time when we see great political instability across the world. From worker strikes in the United States (Uber, GM, Chicago Teachers) to economic protests in Chile, Argentina, Hong Kong, Libya, France, Egypt, Lebanon, and other areas.

Instability is king, chaos continues to rise.

Safe havens are in demand and will likely be sought after in the coming weeks and months as the global economy slows, and restructuring takes place.

Bitcoin Price Today – October 20th, 2019

As of the time we share this, the bitcoin price today is $8,007.98, and with that, let us take a look at recent events priced into bitcoin at this time.

Crypto Based Events and The Bitcoin Price Today

Fidelity

Fidelity is moving in on cryptocurrency in a big way.

The firm and its digital asset arm, Fidelity Digital Asset Services (FDAS), are in the process of deploying its cryptocurrency custody and trading solutions according to reports from the Financial Times. We know that the launch of these digital asset services has been delayed by a couple of quarters. Bu it is expected to roll out by the end of this year.

Fidelity continued to conduct the behind the scenes of work conversing with clients, getting a feel for the industry, regulations and created its services throughout the year. Further, Fidelity will focus on institutional clients that range from family offices to financial counselors and other commercial entities.

This is undoubtedly exciting news for cryptocurrency enthusiasts as it shows that existing and traditional players seek to capitalize on the growing industry and take it seriously. Other entities such as Bakkt, with its launch of the bitcoin-based physical settlement of futures, is also a notable event in crypto adoption.

Fidelity carries weight due to its storied history and current assets under management (it manages more than $2.5 trillion in assets). But this move by Fidelity calls into question the value of players like Coinbase, Galaxy Digital, and other entities that might rely on stable and consistent revenues from custodial services.

Do these newer entities gain industry experience, capture more knowledge and value in the industry, and then eventually sell to one of these more established and well-funded entities? Financial service firms such as Fidelity have the clout, industry connections, knowledge, a mass base of users, and relationships with key parties within the financial system.

That crypto exchange, looking after billions of dollars of digital assets, was approved by the New York State Department of Financial Services, and launched its custody services for third parties last October.

Bitcoin Price and Other Cryptocurrencies

Congrats to bitcoin, as miners have mined 18 million bitcoins so far. This means that there are only 3 million left to mine.

Lastly, bitcoin is range-bound for the past two weeks around the $8,000 mark. XRP has enjoyed slight gains in the past week and Ethereum and a slew of other cryptocurrencies trade sideways.

Bitcoin Price Today – October 12th, 2019

The bitcoin price today is $8374.03. With that, let’s take a look at the latest events that might be present in the bitcoin price today.

Bitcoin Price Today and Crypto Events

Bitcoin ETF Proposal Does Not Meet SEC Requirements

The U.S. Securities Exchange Commission (SEC) has rejected the Bitwise bitcoin exchange-traded fund (ETF) proposal again, to no one’s surprise. It seems like the SEC is still not ready to accept the Bitwise bitcoin ETF proposal and will keep it on hold for now. The regulators doesn’t believe that the current plan will contribute to stability, safety, and the protection of bitcoin investors. Bitwise is just one organization among many who’ve filed their bitcoin ETF proposals to face regulatory hurdles.

Cryptocurrency investors are split on the value of a bitcoin ETF and if it makes sense in a “not your keys, not your coins” era. If the main value of the blockchain is to dis-intermediate and connect investors directly to digital assets, the deployment of ETFs and other third party offerings may not adhere to decentralization principles.

Key players in the bitcoin ETF sector include Bitwise Asset Management and NYSE Arca.

The IRS Clarifies Cryptocurrency Taxes

Uncle Sam, or more specifically, the IRS, is helping you understand what you need to know about bitcoin and cryptocurrency taxes. Cryptocurrency investors can use these guidelines to minimize their current tax confusion on crypto asset holdings. The Internal Revenue Service notes essential issues such as cryptocurrency forks. The IRS also offers guidance on ways to assess and report earned cryptocurrency. Further, it states how to assess what you will owe to the Internal Revenue Service when you divest your cryptocurrencies.

Here’s what you need to know.

Forks are treated as ordinary income and taxed at market value at the time that it was received according to the investors’ tax bracket.

Forks are still a contentious issue for a variety of reasons. For example, you might have an EOS or an ETC that decides to conduct an amicable fork, thereby creating a new blockchain distributing tokens equivalent to an existing holding. But there’s a problem with this rule, and if one were to go by the new tax guidelines, they would be taxed on no real gains.

Finally, a digital currency might continue to swing in value; investors might sell later, capture less value, and be liable for the initial higher value. There’s still a long way to go on cryptocurrency taxes and how investors should pay taxes on their holdings. Also, cryptocurrencies are often treated like commodities or assets. Using it as a currency would be counter-intuitive. The IRS will still deem spends of cryptocurrency as a sale and therefore a taxable event.

Bitcoin Price Today – October 5th, 2019

The bitcoin price today is $8,090. The good news is that the bitcoin price is range-bound, the bad news is that the price of bitcoin is range-bound in the $8,000 level.

With that, let’s take a look at some of the most compelling events within the burgeoning crypto sector.

The Bitcoin Price and Crypto Events

Agatha For Congress

Agatha is gunning for Nancy Pelosi’s seat, and she might be right for the job. The potential Speaker of The House is an intriguing candidate because of her relevance to millennials. Agatha Baclear runs on a future-forward platform and will accept cryptocurrency campaign donations.

She recently noted her interest in working alongside more political representatives like her who understand emerging technology and crypto.

Remember, Agatha Baclear isn’t the first one to accept cryptocurrency campaign contributions, Andrew Yang, and others have surely done so in the past. Yet, this is event shows that more political candidates who aim to serve the public are running on change and relevance.

They’re focused on showing their constituents that they’re studying and understanding how the world is changing and hoping to put forth legislation and government programs that work for the American people.

Is this event material and bitcoin markets moving? Well, yes, and no.

The event shows that cryptocurrency is not a fad and further shows that representatives are catching up with the technology.

Coinbase and the Crypto Rating Council

One of the most compelling events within the past week is likely that of the Crypto Rating Council. Coinbase teamed up with several crypto exchanges to classify digital assets as securities or not. This initiative is an intriguing one because it shows that the cryptocurrency industry is further aligning itself with regulations but will take a pro-active approach.

A pro-active approach is certainly needed in this emerging industry to perpetuate innovation. Stodgy institutions like the SEC, FinCEN, and others might stifle growth and place undue and onerous burdens on companies and assets, restricting real technical innovation.

The Crypto Rating Council deems bitcoin, litecoin, dai as pure non securities and is in the process of classifying others. Its effectiveness is essential, and it must make sure to work with regulators throughout the process.

The SEC ON ICOs and Landmark Settlements

Block.One settled with the SEC for its “unregistered securities sale” and paid more than $20 million in fines to the centralized regulatory body.

The EOS maker received a slap on the wrist.

Why?

It raised more than $3.5 billion and only paid out $20 million to the SEC. This event shows that the SEC is willing to work with cryptocurrency projects as long as these projects continue to collaborate with the SEC.

It is an essential event as KIK is firing up to fight the SEC regarding its KIN token offering. We’re expecting the SEC to conduct similar transactions with other projects within the cryptocurrency sector.

Bitcoin Price Today – September 28th, 2019

Life comes at you fast. One day you’re up, the next you’re down. The bitcoin price today is in a downward trending territory. We’re hunkering down and watching for further winter effects.

What’s the bitcoin price today?

The bitcoin price today is $8,218.

Yes, this is quite a drop from the $10,000 range that it’s been at for quite a while now. What caused the sudden decline over the week? There’s a variety of reasons as to why it might have fallen but instead of speculating, let’s take a look at current events.

The Bitcoin Price Today and Cryptocurrency Events

Trading Volume in Cryptocurrencies
The bitcoin price today might reflect recent research that shows an overall decline in bitcoin trading volume across the different prominent exchanges.

Litecoin Crash
The supposed silver to bitcoin’s gold, litecoin, crashed substantially recently. Litecoin hit a high of $141.90 in the middle of 2019, and it is now trading at $54.00. That’s quite a correction as it is one of the many altcoins that have seen substantial hits to its value.

SoFi Launches Crypto Trading
Corporations are still pushing forward within the blockchain and cryptocurrency sector, SoFi, a rapidly growing fintech firm recently rolled out no cost crypto trading for bitcoin, litecoin, and ethereum. SoFi Invest aims to cater to a growing generation of native internet individuals and capture a portion of the market regarding trading and investing. SoFi invest is supposed to have more than 90,000 users on its platform. Cryptocurrency infrastructure is being created and rolled out despite volatility in the sector.

Overstock Invests in Blockchain Identity
Byrne is out at Overstock but its blockchain arm, Medici Ventures, seems to remain stable. It just invested in a blockchain-based identity management company called Evernym. Evernym is only one among many other similar blockchain identity management startups that Medici has backed so far.

Bakkt Launches
Lastly, Bakkt launched at the start of this week to little interest from investors. But Bakkt is still a very important piecce of the cryptocurrency ecosystem. It is backed by ICE, the owner of the NYSE, and provides more options for institutional investors to get involved securely, and directly and with bitcoin derivatives.

The Bitcoin Price Today and General World Events

Economic uncertainty is something to watch out for as whispers of a recession continue to increase over different demographics. We’ve got general insecurity in the stock markets as trade talks between the USA and China to continue to linger, and other political events hang in the air.

A current impeachment process for the sitting President of the United also looms and has investors worried. Futures markets dropped this past week, another public offering, Peloton, fell and potential signals of a housing crash were present this past week.

Recent events such as the WeWork IPO shelving and recent declines in Uber, Slack, and other high growth – no profits-startups show rationality is present to a certain extent in general markets. This caution by general public investors indicate that we might not be at the top of the stock market just yet.

Economy and Markets Round Up
Overall slower economic growth is also expected to continue over the next few quarters. Meanwhile, the Federal Reserve has injected several procedures in adding value to the financial system.

September 21st, 2019

The bitcoin price today is $10,037.08. The leading digital asset continues to hold support over the psychological $10,000 price limit, staying steady in uncertain and volatile times.

Let’s take a look at what’s going in the traditional equities market and in cryptoland that might have an impact on the bitcoin price today.

Bitcoin Price Today and Traditional Equities Markets

Traditional equities markets seem to have some volatility and questions arise in terms of the actual health of the market. Investors might consider significant acquisitions by private equity firms as potential signs of a top in traditional investments.

Signs of a Top?

Blackstone
The multinational firm, Blackstone, recently purchased Dream Global REIT for a substantial sum.

India’s Stock Market Goes Through the Roof
India recently cut interest rates by 35 basis points and now moves forward with further stimulus by providing a $20 billion tax cut. India’s central bank is currently in an “accommodative” mode, and Indian stocks are at ten-year highs on the news.

The We Company & WeWork IPO
The company, which states that its “mission is to elevate the world’s consciousness’ has decided to shelve its initial public offering for now. It has gone through a rough patch recently with its valuation marked down several times, affecting its current investors, employees, and others who’ve invested at higher valuations. Lack of market interest might indicate some form of rationality in the markets and fear over the potential growth in the broader economy.

Strife in the Middle East

The energy markets were shaken this week by targeted drone attacks against Aramco allegedly by Iran and its affiliates. Oil prices rose by less than 25%, but Aramco expects full capacity by the end of September. The attacks had a significant impact as it affected more than 40% of Saudi Arabia’s overall production and less than 6% of the world’s total oil production.

The Federal Reserve Cuts Rates Again and Everyone’s Wondering Why?

The Federal Reserve cut interest rates again, and everyone’s wondering why they would need to help stimulate the economy if it is supposed to be going swimmingly with no issues whatsoever. Federal funds rates will now oscillate between 1.75% and 2.00%.

Further, according to Reuters, “cash available to banks for their short-term funding needs all but dried up on Monday and Tuesday, and interest rates in US money markets shot up to as high as 10% for some overnight loans, more than four times the Fed’s rate.” The shortage in funds led to the initiation of repurchase agreements to create stability associated with the federal funds rate. Repo operations over $50 billion were conducted over the week.

It looks like the Fed is taking a close look at the economy and hoping to prevent a recession by pumping more liquidity and lowering interest rates.

Bitcoin Price and Crypto Markets

Regulatory Hurdles
Huobi announced that it would close down US-based accounts on its Global platform. It noted an email “in line with the laws and regulations of the United States with respect to crypto-assets, our User Agreement expressly prohibits users in the United States from using our platform.”

Further, Upbit and Okex delist monero, DASH, Zcash, and other privacy coins from their platform.

North Korea To Create Cryptocurrency to Bypass Sanctions
The volatile country is in its early stages of deploying its cryptocurrency to bypass strict regulations imposed by the United States.

The country is still designing how it will work and is likely going to be tied to a commodity or good.

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