Showing posts with label bitcoin. Show all posts
Showing posts with label bitcoin. Show all posts

Crypto Outlook - June 2020: Focus To Shift To Monetary Policy And ETH 2.0...

Contentworks crypto outlook
Welcome to the June Crypto Outlook with Contentworks, an agency specialising in content marketing for financial services, crypto and blockchain.

Bitcoin was the best-performing “major” cryptocurrency in March as its price soared by more than 22%. It was followed by Ethereum, Ripple, and Litecoin, which rose by 9.8%, 1.70%, and 0.50% respectively. In total, the market capitalization of all cryptocurrencies tracked by CoinMarketCap rose from about $250 billion to more than $262 billion.

Bitcoin vs Ripple, Ethereum, and Litecoin
Halving was the biggest news of the month as the number of blocks awarded to Bitcoin miners was cut into half. The price rallied a few days before halving, boosted by positive sentiment from billionaire Paul Tudor Jones, who is famous for predicting the 2008/9 financial crisis. In a CNBC interview, he said that he had invested a substantial amount of money in BTC, mostly because of the current monetary policy by the Fed.

After halving, BTC has remained slightly below the psychological level of $10,000 partly because of indecision between bulls and bears.

Focus shifts to monetary policy
In June, the focus in the cryptocurrencies industry will be on monetary policy. As the coronavirus spread, central bankers started to print unlimited amounts of money to support the market. In the United States, the Fed is printing billions of dollars every week in form of its “open-ended quantitative easing” program.

The balance sheet, which was less than $9 trillion before the 2008/9 financial crisis, has ballooned to more than $7 trillion. And analysts expect the trend to continue like that in the next few months. The same trend is happening in Japan, Europe, United Kingdom, and even Australia.

At the same time, talk of negative interest rates is continuing in the market. In the UK, the BOE governor has not ruled out implementing these rates. In the United States, Jerome Powell has ruled out negative rates. But the futures market believes the bank will implement them in December.

This monetary policy is positive for Bitcoin and other cryptocurrencies. That’s because with yields so low, investors will likely allocate their money in risk assets like crypto. Therefore, in June, crypto enthusiasts will be focusing on central banks and how they navigate the pandemic.

ETH 2.0 to move Ethereum
After halving, the next big thing in the cryptocurrencies industry will be ETH 2.0 or Ethereum 2.0. This is a major update that will be rolled out in the ETH platform in phases. The first phase, christened as Phase 0, will happen in June or July while Phase 1 and Phase 2 will be launched in 2021 and 2022 respectively.

In the first phase, the so-called Beacon Chain will be implemented. It will be important for the platform because it will store and manage the registry validators and implement the important Proof of Stake mechanism. This will help improve the security and speed of transactions.

While the impact of ETH 2.0 will not be felt immediately, analysts expect the price of ETH to rally ahead of the upgrades.

Top Crypto Events In June
The number of physical events in the cryptocurrencies industry has fallen because of the virus. In their place, several event organisers have shifted their focus to virtual events. One of the biggest events will be Virtual Vision Finance, organised by Ultimate Fintech of iFXEXPO fame. The event will have several high-profile speakers including, Fan Xu, of Saxo Bank, Marc Levin of CFG Group, and Charlotte Day from Contentworks Agency. Other key events will be Blockdown and World Bitcoin Conclave.

Final Thoughts

Bitcoin price has found some resistance below the $10,000 level and its volatility as measured by the Average True Range and Bollinger Bands has been falling. This implies that a breakout, in either direction, will probably happen in June.

At Contentworks Agency our team of financial professionals closely follows market movements for FX, Crypto and other tradable instruments. We are proud to serve some of the biggest crypto and fintech companies in the world by delivering high-impact articles, videos, PRs and white papers.

Visit Contentworks at

Information Provided via Press Release
Distributed by Global Crypto Press Association Crypto Press Release Distribution for industry.

The Latest Billionaire Investor To Say They Now Own Bitcoin...

Longtime hedge fund manager Paul Tudor Jones told CNBC on Monday that Wall Street could be witnessing the historic “birthing of a store of value” through popular cryptocurrency bitcoin.

“It’s a great speculation” Jones said on “Squawk Box.”

He said he has “just over 1% of my assets in bitcoin. Maybe it’s almost 2. That seems like the right number right now.”

“Every day that goes by that bitcoin survives, the trust in it will go up” he added.

Jones, founder and chief executive at Tudor Investment and largely considered one of the best macroeconomic traders ever, told investors in a recent letter that he’s betting on bitcoin as part of a far-larger strategy of maximizing profits.

For investors who have followed Jones’ success in predicting the path of economic events, including his prescient bets against the U.S. stock market in 1987, his foray into cryptocurrency may seem unusual. But Jones defended his new investment, especially versus other stores of value like U.S. dollars. 

Video Courtesy of CNBC

Binance Futures DETHRONES Competitors: New Tricks To Increase Profits, Hedge Trades, and Lower Fees...

Binance futures with promo referral code bonus
Binance futures has exploded recently, quickly taking the #1 position from Bitmex which has been bleeding market share and losing more every, and Binance Future's growth makes it clear where the traders are going.

Vice president Aaron Gong told Finance Magnates “We always wanted to be number one, however, I was expecting us to reach this goal in 12 or 16 months, but we made it in seven months”.

As of April 20th 2020, the title of #1 is officially theirs, as they set a new record with $295 million traded in a 24hr period.

So, why are people coming over to the platform in droves?

Leveraged Trading = Trade With Borrowed Funds...

Most crypto traders and investors have yet to dabble in the world of futures trading, but for those of you unfamiliar it's worth explaining the appeal and why lately, futures vs margin has left futures the winning trading method.

Exchanges offer 'leverage' which basically means, they'll loan you funds to trade with.  In the case of Binance Futures you can get up to 125x what you actually own, so if you have $50 USD, they'll turn that into $6250 in tradeable funds, you'll pay a small interest fee.

Then imagine if every time Bitcoin gained $1 in value, you were earning $10 in profit. Leverage means even small price changes can be profitable, simply because of the amount you're trading with.

You'll basically just bet if the price of Bitcoin will go up (long) or down (short). If it goes your way, you're going to love it.  But with borrowing all that money comes risk of liquidation.  Let's say Bitcoin is trading at 8500, you put your funds on it going up (long)... but you were wrong, and the price starts to drop. You'll only be able to watch it drop to about 8450 until you're liquidated, which means you lost it all. The more leverage you use, the less room for error you get.

More conservative traders argue against the idea of trading with borrowed funds, and cite the risks that comes when someone feels the rush of a big win, and then loses it everything trying to make it happen again.

Increase Your Odds: Hedge Mode Released...

"You asked for it, and we had nothing else to do during quarantine" said Binance CEO 'CZ' as he announced the new 'hedge mode' feature on Binance Futures.

The new feature means users are now able to go long and short at the same time, both in the web version and Binance futures app.

So imagine, Bitcoin is trading at 9000 - you can go long with a stop loss of 8950 and short with a stop loss 9050 - so whichever one loses $50 first gets thrown out, hopefully leaving you with the one going in the right direction. Plus, at this point you've already broken even.

It's a chance to let the market decide if you're going short or long by doing both and keeping only the winner. A Binance Futures trick worth trying!

Reduce Your Fees, Increase Your Profits...

Unlock a 10% lifetime discount on all fees for your account, sign up via this VIP Binance Futures referral linkOr if using the mobile app, use referral code TradeVIP when joining.

This works even if you already have a normal Binance trading account!

Those Inside The United States: US citizens are unable to use Binance Futures.  However, some non-US citizens simply visiting the United States will find themselves blocked even though they are allowed to use it. This is because of your IP address.  In these situations, using a free VPN like this Chrome extension allows it to be used while you're visiting the US.
Author: Adam Lee 
Asia News Desk | Binance Futures Review

Mark Cuban of Shark Tank Talks Bitcoin, Economics, Coronavirus and More on Pomp Podcast...

Mark Cuban and Bitcoin Photo

Mark Cuban, the billionaire entrepreneur and investor. He is the owner of the NBA's Dallas Mavericks and chairman of AXS TV. He is also one of the main "shark" investors on the ABC reality television series, Shark Tank. 

In this conversation, Anthony "Pomp" Pompliano and Mark discuss the current economic and health crises, the subsequent monetary policy decisions, how various asset classes will perform, what small businesses are doing to survive, whether corporations should receive bailouts, what privacy concerns people should be aware of

Video Courtesy of Pomp Podcast

Amfeix Crypto Fund - GONE MISSING? ...What Now!?

Amfeix Review Photographed

We're hearing reports of Amfeix going MIA on people, not responding to e-mails, or users in their telegram support channel.

Like thousands of others, their 3+ year track record with 0 people saying they had problems withdrawing their Bitcoin, made it sound like a safe deal.  Their returns actually weren't insanely large, a good trader can actually make much more and assumed they had some running the fund.

Of course, not knowing the founders/employees names was always a bit of a red flag - at the same time, there's a huge list of advantages to not giving away that information. Not motivated to hide from user, but governments.

At the same time, we've been doing a deep dive in to an alternative where none of this issues are at play.

Unlike Amfeix - their company is completely in the open, we know their identities.

They're called 'Ember Fund' and they even filed with the SEC, and we verified it - see on the official .gov website here.

Calling themselves a 'cryptocurrency hedge fund' they have apps for both iPhone and Adroid you can use to track your account.

Most Importantly...

I think these 3 factors caught my attention most:

  • Their performance has been just as impressive as Amfeix, so even if everything turns out okay over there, i'd suggest switching for peace of mind.
  • They couldn't steal your funds if they wanted to - it's non-custodial.
  • Unlike the typical hedge fund limited to accredited investors (people earning over $1,000,000 per year) you can start with just $100.  (This is just 10% of what Amfeix cost to start) 

Click here and take a look at Ember Fund!

We're working on a more in-depth review, I wrote this up quickly for those starting to lose faith in Amfeix wondering where to go next.

Author: Matt Miller
London News Desk | Amfeix Review

April Crypto Outlook: Why The Crypto Rally Could Intensify in April...

Welcome to the April Crypto Outlook with Contentworks, an agency specialising in content marketing for financial services, crypto and blockchain.

March was a difficult month for the crypto markets. Actually, it was a difficult month for everyone! In the past 30 days, most cryptocurrencies declined by more than 10%. Ethereum dropped by more than 40% while XRP and BTC dropped by more than 28%. At the same time, March was a month of recovery as BTC rose by more than 40% from its monthly low.

BTC, ETH, and XRP dropped in March

Why Bitcoin Dropped in March
There were several reasons why the price of Bitcoin and other cryptocurrencies dropped in the past month. First, the overall sentiment in the market was relatively weak as investors dumped their holdings. In March, major global indices like the Dow Jones, Nasdaq, DAX, and CAC dropped by more than 10% as investors worried about the impact of Coronavirus.

Secondly, the price dropped as more people moved to fiat currencies as more countries and states started lockdowns. In such lockdowns, fiat currencies like dollars, euros and pounds become more valuable because they are accepted in most retail shops.

Thirdly, most investors sold their crypto holdings to cover margin calls in other assets. Fourth, there was a lack of demand from institutional investors, who had seen their other holdings drop by more than 10%. Finally, and most importantly, there were concerns among investors about whether Bitcoin would survive a recession.

April Bitcoin Outlook
In April, the focus will remain on these issues. Investors will still be concerned about Coronavirus, which is continuing to kill thousands. The performance will depend on how long international markets will remain closed.

However, the outlook for Bitcoin and other cryptocurrencies will be better in April. This is because the perception among many investors is that the price has already bottomed. This could lead to more demand in the coming month.

Another factor that will influence its price is the decision by the Federal Reserve to accelerate money printing, through the process of quantitative easing. The process, together with large stimulus packages could force many people to question the health of their fiat holdings. More so, people could learn from how the dollar weakened when the Fed started its first quantitative easing. Therefore, all this could lead to more inflows into the crypto market and push their prices higher.

In addition, May is approaching. Between May and June, the number of Bitcoin blocks distributed to miners will be cut into half (halving). This process reduces supply, which is a positive thing for the price since there will be demand. As shown on the chart below, the price of Bitcoin has risen before and after the previous two halvings.

Bitcoin price tends to rise before and after halving

Bitcoin April Technical Forecast
On the four-hour chart below, we see that the BTC/USD pair has pared back its earlier losses and is trading at the 38.2% Fibonacci Retracement level. The price has also found significant resistance slightly below the 7,000 level. Meanwhile, the pair has also formed a triangle pattern, which is nearing its tip. This implies that the price could soon breakout to the upside, and possibly move to the 78.6% Fibonacci level of 9,000.

Final Thoughts
Bitcoin has bounced back from its monthly low of less than $3,500 as sentiment in the market has improved. Similarly, gold too, has managed to recover from its March lows and is currently near its 7-year high. In April, we expect that BTC will make some significant gains as markets stabilize, demand rises, and halving optimism returns.

At Contentworks, our team of financial professionals closely follows market movements for FX, Crypto and other tradable instruments. We are proud to serve some of the biggest crypto and fintech companies in the world by delivering high-impact articles, videos, PRs and white papers.

Visit Contentworks at

Information Provided via Press Release
Distributed by Global Crypto Press Association Press Release Distribution for industry.

US Gov Opens Cashflow Floodgates - How Will Crypto Market React When MILLIONS Of Millennial's Get Payouts?

crypto and the Coronavirus Aid Package
We're on the verge of the biggest relief fund ever being sent to the people it's supposed to help.

The $2 Trillion Coronavirus Aid Package includes $500 billion for large companies, $339 billion for local governments, $377 billion for small business, and a long list of smaller allocations for specific or specialized purposes (such as stocking up on supplies in the case of future pandemics).

But the portion that could impact the markets - $560 billion, dedicated to helping individuals...

Distributed as direct payments appearing automatically in people's bank accounts, checks arriving in the mail, and additional payments on top of these which people can apply for online, such as unemployment.

Worth mentioning - for the first time ever unemployment will cover freelancers and gig workers, such as Uber drivers.

The basic breakdown is, any American earning under $99k will receive a payment of approximately $1200, then if they're not working at the moment (and most people are not) they qualify for unemployment - another $600/week. The unemployment is supposed to last up to 4 months, and while the $1200 is currently a 1 time payment, politicians are already discussing a possible second payment.

Stuck at home, no work, but still bringing in $3600 throughout April - this has to impact the market somehow...

Who else feels like most crypto traders will make sure at least some of this ends up in their portfolio?

I can confirm within the circle of friends I've been keeping in contact with while under these 'shelter in place' orders - some already know the first several trades they'll be making as soon as the funds appear in their bank account balance.

But that's hardly surprising among Silicon Valley millennial's - so i'm wondering, how about this generation in general?  Keep in mind, the 'millennial' label covers everyone 22 to 38 years old, and while nobody can be sure, the crypto market is estimated to be made up mostly of people under 45.

With that in mind, I asked some experts from the tech and crypto world for their predictions on how these funds will be spent...

IBM Blockchain developer, Co-Founder of MarketOrders, and #1 best selling author Sukhi Jutla believes people will be putting a lot of thought into their spending, telling me "I think it’s becoming increasingly clear that the coronavirus pandemic is pulling us into uncharted territory and truly unprecedented times. I think they will be inclined to spend the money on essentials" that doesn't mean we won't be seeing the effects in the market, she added "I expect to see the crypto markets react in a volatile manner to the continued uncertainty in the markers and it is where ironically the most profits are made (in volatile markets) so we will see investors buying up a lot of cheap assets and also offloading them."

Steve Ehrlich, CEO and Co-founder of Voyager Digital believes many know how to play things smart, explaining "Initially, they’ll cover their basic needs and essentials first" but acknowledged, this is a generation that has learned to hustle "While many are concerned about their future, it’s this same worry that could lead them to investing for the future, by wanting to generate more from this money than received at face value. Keep in mind, millennial's are less risk-averse than older generations and more likely to see how they can put that money to work, whether through a side-hustle or investing".

On the other hand, Head of Product Strategy at TradeStation Crypto, James Putra, seems to share a similar view as my peer group. I asked him if crypto's current low prices are just too tempting to pass up, he said "Sure, those that are into trading and investing will likely seize the opportunity to go bargain hunting in the stock or crypto markets. I’m pretty sure that my check will go to cryptocurrency. It seems unlikely that those who are not currently investing will drop this found cash into stocks or crypto currency. This money gets them one step closer to that trip, house, retirement or other long-term financial goal." 

Jonathan Keim, Director of Communications at InvestorBrandNetwork & CryptoCurrencyWire, balanced out the above points, he thinks if they have some savings already, these funds are prime to put into the market.  Otherwise, they will likely guard any funds they need to survive on until they're able to work again "It’s very hard for someone who has never invested on their own to put money into anything with risk. I believe we’re more likely to see the parents of the millennial's put money into cryptocurrencies as a result of the lower prices and concerns over potentially unprecedented inflation."

But everyone, myself included is simply giving their best guess - it's going to be an interesting few weeks as these funds land in the hands of the people who will decide where they'll be spent.

We've never seen these conditions before, and no scenario in the past was similar enough to attempt to draw comparisons from history - there's nothing but uncharted waters ahead, as far as the eye can see.

Author: Ross Davis
E-Mail: Twitter:@RossFM

San Francisco News Desk

BEGGING For Permission To Search The City Trash Dump, PRAYING To Find His Hard Drive with 7,500 Bitcoins On It...

This story is painful to watch.  Follow the man who was one of (perhaps the first) person to ever mine Bitcoin.  Back then it was easy, and his old computer held a nearly worthless 7500 BTC on it when he became bored and moved onto other things.

Smart enough to save the hard drive in case Bitcoin became popular in the future, but not careful enough when he was cleaning up... days later realizing he threw away the wrong one.

Worth about 50 MILLION today, he knows where it is - the massive city trash dumps.

But so far local leaders haven't let him conduct a search.  He has investors willing to bring machines and man power, and even offered to give a cut to the city government.

Video courtesy of Strive Finance

Crypto Markets Surge and "Leave Stocks In The Dust" - Plus, Let's Clear Up Confusion Around Bitcoin Being a 'Safe Haven' Asset...

It's been an intense week, especially here in Silicon Valley, the first area of the US given 'shelter in place' orders. Why we were first hasn't been explained, but it's likely because of the amount of economic power in an area where Google, Apple, and Facebook employees live on the same street.

Since the Coronavirus pandemic took full effect, Bitcoin crashed down to the low $5000 and spent over a week floating around this zone.

Stocks performed the same, causing many to point out once again how the two markets often mirror each other, even though there's major fundamental differences.

Those differences may allow for a much easier recovery, as stocks continue to suffer, Bitcoin broke out with a 20% surge, peaking around $6900.

Read more on this in the Forbes article "Bitcoin Rally Leaves Stocks In The Dust".

With the initial shock of everything wearing off,  I wanted to take a deep breath, followed by a rational look at where things stand, and where they could go next.

No Safe Haven In a Panic...

While some have used the last couple weeks as evidence against claims Bitcoin was a safe-haven asset, I have to say - I never thought we were talking about situations like this.

Rather, a safe haven for crashes like the one we saw in 2008, where bankers and Wall St abused the traditional finance system, and the public would then be asked to trust that the people who just destroyed the system would now turn around and fix it.

That situation (which describes most historical economic crashes) makes Bitcoin look pretty damn appealing, and I think we will see a lot of people turning to it the next time it happens.

But scare like a virus, with people panicking and seeking cash fast - they're going sell whatever gets them that cash.

I'm not sure why anyone ever thought that wouldn't include crypto.

I'll take it one step further and say - an asset immune to panic selling triggered by global pandemic does not exist.

Crypto May Be First To Recover...

When something major happens that causes investors to panic sell, it's no surprise both crypto and stocks take a hit.

But crashing together doesn't mean they need to recover together.

Recovery is a very different game for each. The stock market wants to hear about company profits, see earnings reports, and hear statements from CEO's about their path forward.

The decentralized nature of cryptocurrency means the traders and investors alone can drive recovery - we're not waiting to hear from any person or company. 

There's no "CEO Of Crypto Inc" putting out statements for the media to pick apart - for or better or worse, we're on our own.

Currently it seems to be for the better, but keep in mind this is a double edged sword - for example, we'll never see a bailout for the crypto industry, or a coin considered "too big to fail" and government stepping in to save it.

What To Watch For Next...

What happens in the US will determine what happens next in the market.

The panic has is gone, but people are still on edge - there's two very different possibilities.

The best case scenario - we continue as-is for the next few months.  Cases of the virus popping up at a pace they can be dealt with, eventually ending with a vaccine or some other viable treatment that officially puts an end to the whole thing.

The worst case scenario - as you know people can carry the virus for weeks without feeling ill, and during this time they can spread it to others. It was just a week ago where people were still gathering in large crowds - Las Vegas for example just went dark days ago.

There could be a massive number of people infected who currently don't know it. Not saying there is, just saying it's possible.

So we now enter a phase that could last for 1 to 2 weeks, of waiting to find out which scenario is real.

Author: Ross Davis
E-Mail: Twitter:@RossFM

San Francisco News Desk

Bitcoin Isn't The Only Coin That Will Be 'Halving' In 2020 - Here's What You Should Be Ready For...

We're going to assume you already know what halving is, and have seen at least some the hype surrounding the upcoming halving of BTC.

For the few who haven't, the shortest explanation we can give so you know the basics is:  As you know, mining a cryptocurrency will earn you some of that cryptocurrency.  Halving is when miners pay gets cut in half. Token creators plan this from day one to occur in the future as a way to keep the coin scarce when millions of their coins total supply has already been released. The idea is, the more coins that are already floating around the market, the harder it should be to earn free coins by mining.

There's a several reasons why people believe this will trigger an increase in a coin's price.

First, it has in the past.  In the case of Bitcoin, halving has happened before, and each time was followed by a price increase.  When Bitcoin launched, 50 BTC per block was given out to miners. Halving has occurred every 4 years since then, and the next halving will bring it down from 12.5 to 6.25 BTC.

Second, many miners sell immediately. Especially the large mining operations, these are big companies with investors who want to see quarterly profits like any other company. They tend to immediately sell the coins they mine. But halving has already caused some to sell less and HODL more as they became harder to get. More coins off the market increases the value of those on it.

Lastly, simply the concept of scarcity. The market knowing less coins are being created every day, means any dilution that may have caused now happens at a rate half of what it was before.

But Bitcoin isn't the only one coming up this year, so we thought it would be worth taking a look at the other potential chances to profit from coins that will be going though the halving process.

The Big One - Bitcoin...

Bitcoin's halving is expected May 12, 2020.  Expect to see prices rise before this, as many people plan to load up their bags weeks/months ahead of this date. What will happen on this date is a mystery, the market is so different than it was the last time, I don't like looking back at anything from 2016 as a way to predict what will happen in 2020.

There's a lot more people in it, but among them is a lot more looking for a quick profit.  Will the halving date simply be when they plan to dump? Or, will they want to horde/HODL their coins believing the value will continue to climb, especially now that it's become more scarce?

Your guess is as good as mine.

Both of the other Bitcoins too...

Everyone has an opinion when it comes to Bitcoin Cash (BCH) and Bitcoin Satoshi Vision (BSV) and the miners are no exception.

Currently, most miners for these coins already work for a loss, that's how you know they're die-hard believers, they're betting it all on the token's value increasing in the future.

Regardless, all you need to know is - both have halvings coming sometime in April 2020.|

Zcash Follows in Bitcoin's footsteps...

Just like BTC, there will only be 21 million coins ever created.

The current reward for miners is also the same - 12.5, and will be reducing to 6.25 ZEC.

The block that will trigger the halving will come sometime in October 2020.

Ethereum Classic...

Not to be confused with ETH, Ethereum Classic (ETC) does basically the same thing, but calls it a tithing. In ETC's case, the mining reward is reduced by 20% every 5 million blocks.

At the time of publishing, they're on block 9,949,107 - block 10,000,000 will bring about the tithing and will hit sometime in 2020.

Dash, but don't get too excited.

Just including this to be complete, but I wouldn't expect a huge price increase here... a slight one perhaps.

Dash decreases mining rewards by 7.14% every 210240 blocks.

It's on block 1,234,495‬ as of publishing this article, with the halving coming on block 1,261,440 - so, very soon.

In Closing...

My strategy (insert standard 'don't blame me, do your own research' disclaimer here) is to watch how BCH and BSV perform in their halvings, since they come first. Then assume Bitcoin will do whatever they do but on an even larger scale, then assume Zcash will react similar to BTC.

In other words, be positioned for the best case scenario, but have those stop-losses ready just in case of the worst.

What's your predictions for the 2020 halvings? Tweet us @TheCryptoPress

Author: Ross Davis
E-Mail: Twitter:@RossFM

San Francisco News Desk