Since Bitcoin investors got a taste of parabolic price action in early-2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more. According to a Google Trends analysis, another parabolic rally is about to form again in the cryptocurrency market again. Considering historical rallies, this next bull market could bring BTC above $100,000, some analysts have suggested. Google Trends Suggests Bitcoin to Soon Explode Cryptocurrency analyst Cryptokea recently noted that the worldwide Google Trends, well, trends for the search term “Buy…
Month: January 2020
Italian Winery Adopts Interactive Screw-Caps With Blockchain Verification
Piedmont winery, Vigneti Massa, is launching the 2018 vintage of its wines with near-field communication (NFC) and blockchain-enabled caps. As reported by The Drinks Business on Jan. 22, Vigneti Massa is the first winery in Europe, and the second globally, to adopt Guala Closures Nestgate technology. Guala developed the technology with Luxembourg-based software company, Compellio. By tapping an NFC-equipped smartphone against the bottle’s screw-cap, consumers can get information about the wine-growing region, the vineyard, and the vine that the wine came from. The platform also provides tasting notes and expert…
Japanese Lawmakers Will Propose Digital Yen to Counter Libra, China: Report
Politicians from Japan’s ruling Liberal Democratic Party plan to propose the nation issues its own digital currency. According to a Reuters report on Friday, about 70 lawmakers from the party feel a digital yen is needed to counter the approaching launches of Libra and China’s digital currency. The effort – aimed to keep Japan at the forefront of fintech innovation – would be a joint project between the government and the private sector, Parliamentary Vice Minister for Foreign Affairs Norihiro Nakayama told the news agency. “China is moving toward issuing…
US Deficit Will Be at Least 6 Times Bitcoin Market Cap — Every Year
The average budget deficit of the United States will “never” be less than $1 trillion per year in the future — or 4.5% of GDP, worrying data on the fiat economy shows. Compiled by the U.S. Congressional Budget Office (CBO) and shared by crypto hedge fund manager Travis Kling on Jan. 21, statistics reveal that the annual deficit is set to hit $12.2 trillion for the entire 2020s. Deficit as GDP share up 55% in 50 years “Such deficits would be significantly larger than the 2.9 percent of GDP that…
Ripple CEO Hints at IPO, Says More Crypto Firms Will Go Public in 2020
Ripple CEO Brad Garlinghouse predicts that initial public offerings (IPOs) will become more prevalent in the cryptocurrency and blockchain space in 2020. Speaking at the World Economic Forum in Davos yesterday, Jan. 23, Garlinghouse reportedly hinted that Ripple would itself be one of those firms to seek a public flotation: “In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural…
Cypherpunk Harry Halpin Takes on Davos
In this video from the WEF 2020, Nym Technologies CEO Harry Halpin speaks to CoinDesk’s Leigh Cuen in Davos, Switzerland, about the World Economic Forum, privacy and the future of blockchain. Halpin pulled no punches when it came to describing the scene at Davos. “I do think there are lots of well-meaning people here that want to save the world with charity or deal with unemployment, but the fact of the matter is the people here aren’t actually in charge in any meaningful sense,” he said. “It’s just kind of…
Ripple’s XRP Sales Saw a Historic Low in Fourth Quarter of 2019
Ripple’s XRP sales continued to drop in the second half of 2019, with sales of the token reaching a historic low in Q4. According to a Jan. 22 blog post by Ripple — the firm behind the third largest crypto asset by market cap — total XRP sales in Q4 2019 accounted for $13.08 million, down more than 80% from the $66.24 million reported in Q3 2019. Ripple got rid of programmatic sales The massive decline in XRP sales in 2019 does not appear to be unexpected though. Specifically, quarterly…
Ripple Reports Selling Just $13M of XRP Last Quarter
Ripple’s XRP sales fell dramatically in the last quarter of 2019 – at least partly due to change in how the company sells its store of the third-largest cryptocurrency by market capitalization, the company said Wednesday. XRP sales in Q4 dropped 75 percent from the $66.24 million sold in Q3 to just over $13 million, according to Ripple’s XRP Markets Report. The drop is at least partly attributable to a total suspension in programmatic sales, which accounted for $16.1 million the previous quarter. Over-the-counter (OTC) trades also dropped 74 percent…
BlockFi Readjusts Interest Yield on Bitcoin (BTC), Ether (ETH) Deposits
On January 23, 2020, Winklevoss twins-backed digital currency platform BlockFi announced that it had revised its rate of interest paid on the yield it generates from lending Bitcoin (BTC) and Ether (ETH). The new rates will be effective from February 1, 2020. Reacting to Market Economics BlockFi, one of the leading cryptocurrency startups which has become the go-to platform for people with idle digital currency savings to earn extra income has decided to revise its offered interest rates. Per sources close to the matter, BlockFi’s new yields for those lending…
Bitcoin Price Rally Falters as Bulls Fight to Hold the $8.3K Support
After three days of trading in a tightening range Bitcoin price (BTC) dropped below $8,300, stopping at $8,264 which is slightly below the $8,300 support and the 200-daily moving average (DMA) at $8,200. Earlier in the day John Bollinger, the creator of the popular Bollinger Bands indicator, tweeted that the recent pullback should not alarm investors. Bollinger said: “This is a ‘logical place’ for $btcusd to find support, a pullback to a breakout level and the middle BB.” Cryptocurrency market weekly overview. Source: Coin360 As mentioned in the previous analysis,…