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When should you finally buy Bitcoin

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With all the recent drama in the cryptosphere, no one is certain when it comes to the “bottom” price. We heard analysts and experts share opinions that make us even more confused and the market sentiment right now is… how shall we put it… very sentimental. No one knows when is the best time to buy Bitcoin but many still believe in its long term growth.

Since everyone, once again, claims Bitcoin will die, here are some useful methods to go by in case you want to buy Bitcoin for its technological potential.

Buy Bitcoin when others are fearful

If that is not now then I don’t know when it is. During the start of this major bear market, everyone had his hopes up high, claiming one event or another were the reason their lamborghini orders were put on hold. Chinese Cristmas, Consensus and a bunch of other wild guesses, all acted as a catalyst for the fear of the current market.

Remember those people who claimed they would buy Bitcoin at $12.000 when it was around the $20.000 mark? The same people who claimed they wanted to buy at $6000 when Bitcoin was at $12000 price  and keep on dropping? Now at 3000 no one buys and they all scream Bitcoin is in a death spiral. No one wants to buy Bitcoin right now because they are afraid.

Buy Bitcoin when the value has gone up, but the price has gone down

Bitcoin is, right now, more popular and necessary than ever. People have started to realise the unfair profiting of exclusive third parties when it comes to the control of our finances. These institutions do not necessarily care about money because they can simply print it. Therefore, they are putting up huge resources and energy to drop the value of Bitcoin, keeping their power model in place. Until now, their efforts have proven to be fruitful.

However, this does not change the fact that Bitcoin is and always will be a decentralised worldwide currency that is free to transport across continents in any amount. The people who “are in it for the technology” understand this. This is why they have decided to hold Bitcoin for a long timeframe, or until a middle ground is found.

Buy Bitcoin when you see strong signals from multiple high quality sources

High quality sources right now are uncertain. This comes after everyone in the field had a price prediction whether that is for the final bottom or the turn of the markets. So far, no expert has been right which proves that their expertise is not always to be trusted.

Since the time when Bitcoin was created, media has been bashing it and telling that it will disapear as quickly as it appeared. But it hasn’t.

A strong signal in the cryptoworld needs to go far beyond a positive event or a development in the space. These have proven to not affect the price in a major way during 2018. Instead, strong signals could be translated in a new phase of mass interest for the coin, which will happen when the media picks it back up. Remember that, whether Bitcoin is manipulated or not, the only way the “big guys” can keep on profiting from the currency is if there is enough interest. And for interest to grow, price will have to grow as well.

Of course, it goes without saying, that this is not financial advice and it should not be treated as such. Our opinions are only an expression of our thoughts.

The post When should you finally buy Bitcoin appeared first on Web's Most Useful Blockchain Articles.

Source: https://railsonwave.it/finally-buy-bitcoin/

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Bitcoin Dominance at 2-Month High: Disaster for Altcoins

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August was a bullish month for altcoin traders as they ranked in profits, forcing Bitcoin dominance to drop below 60% for the first time since the start of the year. However, the altcoin euphoria was shortlived as September brought along the bears.

The end of Q3 wasn’t great for Bitcoin traders, but that was expected as September is usually not a profitable month for Bitcoin. In fact, data shows that Bitcoin has lost more in September than in any other month.

As expected, the Bitcoin effect was seen across boards in the market. Altcoins suffered the most, shredding almost all of the profits accumulated in the previous month.

Bitcoin Eyes $12K

Bitcoin is pushing hard towards the $12k mark. It traded as high as $11,942 for the first time since mid-August.

Analysts believe the trend is the start of a new bull cycle for the leading cryptocurrency considering the coin shielded itself and recovered quickly from the recent negative news, including BitMEX’s charges and OKEx’s withdrawal saga.

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Although October has been impressive for Bitcoin, and the coin has since recovered from the bearish move in September, altcoins continue to live in the terrible nightmare from the past month.

October: Another Nightmare For Altcoins

Bitcoin dominance started rising in mid-September after it went as low as 55%. At the time of writing, the cryptocurrency maintains a 60.3% dominance of the entire crypto market while the altcoins struggle with 39.7%.

btc_dominance
Bitcoin Dominance. Source: CoinMarketCap

Even Ether (ETH), the second-largest cryptocurrency, was not spared. In August, the coin traded near the $500 mark, reaching $485 for the first time in two years. In the last two months, Ether lost over 20% of its value, and market dominance dropped from above 15% to 11%.

Now, ETH is exchanging hands at $369 with a 2% loss on the daily chart. However, speculation in the market is that the upcoming ETH 2.0 Phase 0 could provide the needed boost for Ether bulls.

Looking at the top 100, a handful of altcoins have shredded at least 15% of their value on today’s trading session. Some of the most significant losers include Uniswap (-17%), Crypto.com (-25%), Balancer (-19%). Meanwhile, Flexacoin saw a big boost with over 258.11% gains in the last 24 hours.

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Source: https://cryptopotato.com/bitcoin-dominance-at-2-month-high-disaster-for-altcoins/

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Crypto.com Integrates PayID Offering 5M Users an Easy and Unique Way to Send & Receive Crypto

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[PRESS RELEASE]

HONG KONG, October 19, 2020 — Crypto.com today announced PayID, a universal payment identity developed by the Open Payments Coalition, is now available on the Crypto.com App.

Crypto.com’s 5M+ users can register for a PayID from the Crypto.com app, consolidating complex wallet addresses and accounts into a simple ID that works across any payment network and currency. Users who register for their unique PayID will get an exclusive Crypto.com-branded, easy-to-read ID — such as “yourname$payid.crypto.com — that enables users to send/receive crypto payments from other compatible wallets with just a single ID, easing their ability to connect to 100M+ crypto users worldwide.

cryptocom_PR

PayID solves a key pain point in the crypto payments world, which consists of many closed and complex networks. Participants must manage multiple long and random wallet addresses, increasing the likelihood of erroneous transactions. PayID creates a free, open and common protocol that allows for interoperability between any payment network or currency.

Starting today, Crypto.com is offering early access for select customers to register their unique Crypto.com PayID. To be eligible:

  • Stake 10,000 CRO or more in Crypto.com Exchange; or
  • Stake 10,000 CRO or more in Crypto.com App

On 2 November 2020 all Crypto.com App users can register their own Crypto.com PayID within the Crypto.com App.

Once registered, users can send crypto from other compatible wallets to the Crypto.com App with just their PayID, instead of a full-length crypto address. At launch, supported cryptocurrencies include CRO, ETH, BTC, XRP and many more ERC20 tokens. Users can also send crypto to other compatible wallets using PayID hosted by other members in the Open Payments Coalition.

About Crypto.com

Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. Crypto.com serves over 5 million customers today, providing them with a powerful alternative to traditional financial services through the Crypto.com App, the Crypto.com Card, the Crypto.com Exchange and Crypto.com DeFi Wallet. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 600+ strong team. Find out more by visiting https://crypto.com

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Source: https://cryptopotato.com/crypto-com-integrates-payid-offering-5m-users-an-easy-and-unique-way-to-send-receive-crypto/

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Crypto More Popular Than Gold Among Russian Investors: Report

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A survey among over 2,000 Russian investors has placed cryptocurrency next to gold in terms of popularity. Moreover, younger investors aged below 30 have displayed significant favoritism towards digital assets.

Crypto Ranks Above Gold Among Russian Investors

According to the study published by the World Gold Council, investors from the world’s largest country by landmass have allocated the most funds into generally accepted as safer instruments such as savings accounts, foreign currencies, real estate, and life insurance.

When asked what sorts of investment tools they had invested in the past 12 months, they placed cryptocurrencies as the fifth most popular asset with 17%. Interestingly, gold came next with 16%.

Investments Made In Russia 12 Months Back. Source: World Gold Council
Investments Made In Russia 12 Months Back. Source: World Gold Council

World Gold Council Director of Central Banks and Public Policy, Dr. Tatiana Fic, commented that gold had been a valuable part of Russia’s history. She explained that the development of the gold mining industry began in 1745 with the discovery of gold in the Urals. In the next 100 years, more than half of the global gold production came from Siberia.

However, she noted that the investment market has declined in interest lately. Dr. Fic reasoned that there’s an evident lack of education, resulting in people steering clear from the bullion. She also claimed that investors fear buying fake or counterfeit gold products.

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It’s worth noting that Russia seized purchasing gold earlier this year following half of decade of increased accumulation.

Younger Generations Keen To Experiment With Crypto

WGC’s report confirmed previous narratives that younger generations prefer allocating funds into riskier investment instruments such as digital assets.

“18-to-24-year-olds are much more willing to take risks to get exponential growth, rather than take a long-term view. For example, they are the least likely to have invested in a savings account but are the most likely to have invested in collectibles – and around two-thirds are considering investing in cryptocurrencies.” – the report reads.

The paper highlighted that the growing role of mobile apps linked to investment accounts have made it easier for tech-savvy youth to purchase their preferred assets. Cryptocurrencies lead the way “with nearly 80% being bought exclusively online.”

Although physical gold has been bought mostly offline, the report noted that online investments in gold-backed ETFs and vaulted gold have jumped in the past few years as well.

Investment Assets Purchases In Russia. Source: WorldGoldCouncil
Investment Assets Purchases In Russia. Source: WorldGoldCouncil
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Source: https://cryptopotato.com/crypto-more-popular-than-gold-among-russian-investors-report/

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