Day: November 17, 2018

Ripple Continues to Rebound, While Most Major Cryptocurrencies See Mild Wave of Red

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Saturday, Nov. 17: crypto markets have seen another mild decline, with losses across the top 20 coins by market cap reaching 4 percent over the past 24 hours. In contrast, Ripple (XRP), which is still holding strong as the second coin by market cap, continues to see sufficient gains as of press time, according to data from Coin360. Market visualization from Coin360 After seeing a small rebound yesterday, the largest cryptocurrency Bitcoin (BTC) is very slightly down over the past 24 hours. As of press time, Bitcoin is down less…

96 Percent of Companies That Exist Today Will Fail in 10 Years

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Anyone involved in marketing knows the adage as old as advertising itself: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” The reality may be worse though – not just a half, but an absolute majority of marketing budgets is wasted on customers that don’t generate enough profitability, says Peter Fader of the Wharton school of economics at the University of Pennsylvania. The rise of big data and analytics technology promises to change that situation. Today, decision-makers are increasingly able to tell…

‘Bitcoin’s No Longer Boring,’ Price Heading Towards $1.5K, Say Bloomberg Analysts

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Analysts at Bloomberg Intelligence predict that Bitcoin (BTC) “has further to fall,” Bloomberg reported Nov. 16. “Bitcoin’s no longer boring” declares Bloomberg, before stating that analysts predict the price could fall as low as the $1,500 point, a further 70 percent drop in the coin’s price. Bloomberg cites hedge fund founder Travis Kling saying that he “didn’t sleep well” because of the potential turmoil in wider crypto markets due to the recent Bitcoin Cash hard fork: “There’s a small chance that, it’s difficult to estimate, that something really bad could…

Fundstrat’s Tom Lee Predicts Bitcoin Recovery, But Lowers End-Year Target to $15K

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Wall Street analyst and cryptocurrency bull Tom Lee has nearly cut his end-year Bitcoin (BTC) price target in half from $25,000 to $15,000, CNBC reported Nov. 16. According to Lee – the co-founder of market advisory firm Fundstrat Global Advisors – the key factor behind his new target is Bitcoin’s “break-even point,” or the level at which the cost to mine Bitcoin matches its trading price, as CNBC reports. According to Fundstrat’s data, this point is at around $7,000. Bitcoin is currently trading well below this value – $5,550 at…

How Stable Could Russian National Stablecoin Be?

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On November 7, the chairman of Russia’s State Duma Committee on Financial Markets announced details of the “CryptoRuble,” a long-discussed government cryptocurrency project.   Specifically, the official said that a state-backed stablecoin would be a complete equivalent to the Russian fiat ruble, but in a digital space. Russian authorities have now ended up with this concept after years of contradicting statements, and still, a ruble-pegged stablecoin might not turn out stable in the end. Long and complex history of national cryptocurrency in Russia Russian national cryptocurrency was originally referred to…

Central Banker in Europe’s False Arguments Against Bitcoin

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Twitter Facebook LinkedIn Benoît Cœuré, a member of the Executive Board of the European Central Bank, condemned Bitcoin (BTC), describing it a bubble, ponzi scheme, and an environmental disaster. “Lightning may strike me for saying this in the Tower of Basel — but bitcoin was an extremely clever idea. Sadly, not every clever idea is a good idea. I believe that Agustín Carstens summed its manifold problems up well when he said that bitcoin is ‘a combination of a bubble, a Ponzi scheme and an environmental disaster,’” Cœuré said, at…

ICO Performance in Q3 2018 Saw ‘Overall Disappointment,’ Study Shows

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Initial Coin Offering (ICO) performance was in part characterized by “overall disappointment” in the third quarter of 2018, according to a study from ICO analysis firm ICORating published Nov. 15. As the report states, Q3 2018 saw 597 ICOs raise over $1.8 billion, a notably lower value than the over $8.3 billion reportedly raised in the previous quarter. A similar decline in investment has been reported in traditional Venture Capital (VC) funding for blockchain projects. In the report, the decline in funding is accompanied by a median return on investment…

Industrial-Scale Adoption of Blockchain Likely in 1-2 Years, Says CEO of Russia’s Largest Bank

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Twitter Facebook LinkedIn Industrial-scale adoption of blockchain technology will surge in the next year or two. That’s the prediction of bitcoin advocate Herman Gref, the CEO of Sberbank — Russia’s largest bank and the third-largest bank in Europe. Gref said the hype surrounding blockchain has waned a bit, but its many uses will be applied in the near future. In other words, blockchain has moved beyond theory and is ready to be put into practice. “The hype surrounding the technology has passed, and it has entered a stage of industrial development,”…

Crypto Experts Slash Bitcoin Price Predictions: Fact is, No One Knows

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The recent crash in the crypto market has led Wall Street investors to slash their Bitcoin price prediction by half. Tom Lee, the co-founder of Fundstrat Global Advisors, lowered his year-end expectations to $15,000 from $25,000. Lee’s prediction came after BTC broke below its so-called bottom at $6,000. Before the crash, the said level was considered to be a break-even point for miners. Based on that, Lee estimated that BTC price should be at least 2.2 times higher than the break-even point. Otherwise, mining Bitcoin will be worthless in a…

Festive, Free Automated Trading Bot Can Be Set Up in 10 Minutes

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A cloud trading software platform argues the public has the chance to take advantage of volatility in the cryptocurrency marketplace through automated trading – “maximizing their opportunities” and enabling their assets to appreciate. Trade Santa says its cloud software platform is designed to automate simple strategies relied upon by thousands of traders around the world. Its bot is free to use, and the company hopes to ensure capitalizing on fluctuations in cryptocurrencies doesn’t need to be a full-time job. The team behind the Santa Bot says it takes about 10…