Red-Hot Crypto Could See Massive Upside Action

This Red-Hot Crypto Could See Massive Upside Action, According to Coin Bureau

By Daily Hodl Staff • May 31, 2021 // ALTCOINS

Popular crypto analyst Coin Bureau says one red-hot altcoin could see giant upward action soon fueled by key fundamental catalysts.

In a new video, Coin Bureau tells his one million YouTube subscribers that Polkadot-cousin Kusama (KSM) could witness big gains amid the launch of Polkadot’s parachain slot auctions.

Parachain slots are scarce pieces of the Polkadot network that allow other blockchains to interact with it. Polkadot aims to only have 100 slots available for crypto projects who wish to utilize the parachains, and each slot will be bid on using KSM tokens.

Coin Bureau says that some of the projects that launch on Kusama’s ecosystem are likely to explode by 100x.

“The crazy thing about parachain slot auctions is that they will give you a chance to pick up that next 100x coin or token without having to give up a single penny of your hard-earned cash.”

With the launch of Polkadot’s parachains being reliant on Kusama, Coin Bureau also anticipates a big price spike in KSM.

“I suspect that most individuals and institutions that are planning on participating in Kusama’s parachain slot auctions have been accumulating KSM since last year. After all, it looks like they’re going to need hundreds of millions of dollars in KSM to secure a parachain slot. I reckon these early investors are smart enough to know that if they waited to buy until the parachain slot auctions began, the sudden surge in demand would send KSM to prices they are unwilling to pay.”

The analyst says that while much of the anticipation behind the parachain slot auctions have probably been priced in, there are still likely a few players who haven’t gotten a piece of the action yet.

“What this means is that the demand that will be created by parachain slot auctions on Kusama has already been priced into KSM. However, something tells me that there are more than a few people who haven’t been paying attention to what Kusama’s been up to. Heck, even I didn’t know that Tether will be launching USDT on Kusama.”

Coin Bureau predicts that when the parachain auctions kick off, KSM could experience a supply shortage that may ignite a new bull run.

“When Kusama’s parachain slot auctions begin, I think it is extremely likely that we will see another massive move to the upside that will last for weeks, especially when some of those new tokens start trading. Moreover, all the KSM that is locked in those parachain slot smart contracts won’t be immediately sellable. This means that we could see a massive amount of KSM taken off the market for months. As you know, when you lower the supply of something but the demand stays the same or increases, the price will rise.”

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/DanieleGay

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The original article written by Daily Hodl Staff and posted on DailyHodl.com.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Hoskinson: Crypto Primed To Overtake Entire Financial Market

Cardano’s Charles Hoskinson Says Crypto Primed To Overtake Entire Financial Market – Here’s When

By Daily Hodl Staff • May 31, 2021 // ALTCOINS

Cardano founder Charles Hoskinson says that the crypto space is gearing up to take over the entire traditional financial system.

In a new video, Hoskinson shares his thoughts on the current crypto landscape and explains why the nascent industry will become a dominant force that addresses much of the problems of the current financial system.

“[Crypto] is the industry that’s the antidote to the excesses, corruption, and nepotism that we found. This is an industry of frustration that has now been replaced by an industry of creativity and innovation. We’re going to change the world; it’s just that simple. We didn’t ask permission. We came here, and we’re going to get it done together. And there’s simply too many people now. The markets are simply too large. The innovation is simply too vast. It’s going to happen.

It’s no longer a question of if, it’s when, and how will these dinosaurs find a way to survive in this new world order.”

Hoskinson highlights that while crypto may still be in its infancy, he sees the industry maturing quickly. He breaks down his view of the next 10 years, claiming that crypto will take control over the majority of financial operations we use today.

“Over the next 10 years, there’s going to be more advancement in monetary policy from our industry than the last 100 years of central banks.

In the next 10 years, there’s going to be more advancement on financial engineering, the construction of financial products, and the marketplaces upon which trade them than the last 100 years from Wall Street, and England, and Tokyo, and all the other places in the world combined.

In the next 10 years, there’s going to be more movement of wealth 24 hours a day, 7 days a week on crypto rails than there will be through the BIS (Bank for International Settlements), and through the fixed protocols and all these other things that are the mainstay staples of the financial world.”

While the crypto market has largely been dictated by Bitcoin’s movement over the course of its history, Hoskinson sees projects decoupling from Bitcoin this year.

“Unlike the past cycles in 2017 and 2018 compared to today where we’re at, we’re now in a situation where we’ve decoupled from Bitcoin, and people are starting to realize that while [Bitcoin] was a great experiment, it’s not the end-all-be-all and that there’s more to the story. And unlike the past, the macro is starting to actually move in our favor instead of just being this weird cyclic thing.”

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

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Markethive Advertisement

The original article written by Daily Hodl Staff and posted on DailyHodl.com.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Crypto Could See Massive Upside Action

This Red-Hot Crypto Could See Massive Upside Action, According to Coin Bureau

By Daily Hodl Staff • May 31, 2021 // ALTCOINS

Popular crypto analyst Coin Bureau says one red-hot altcoin could see giant upward action soon fueled by key fundamental catalysts.

In a new video, Coin Bureau tells his one million YouTube subscribers that Polkadot-cousin Kusama (KSM) could witness big gains amid the launch of Polkadot’s parachain slot auctions.

Parachain slots are scarce pieces of the Polkadot network that allow other blockchains to interact with it. Polkadot aims to only have 100 slots available for crypto projects who wish to utilize the parachains, and each slot will be bid on using KSM tokens.

Coin Bureau says that some of the projects that launch on Kusama’s ecosystem are likely to explode by 100x.

“The crazy thing about parachain slot auctions is that they will give you a chance to pick up that next 100x coin or token without having to give up a single penny of your hard-earned cash.”

With the launch of Polkadot’s parachains being reliant on Kusama, Coin Bureau also anticipates a big price spike in KSM.

“I suspect that most individuals and institutions that are planning on participating in Kusama’s parachain slot auctions have been accumulating KSM since last year. After all, it looks like they’re going to need hundreds of millions of dollars in KSM to secure a parachain slot. I reckon these early investors are smart enough to know that if they waited to buy until the parachain slot auctions began, the sudden surge in demand would send KSM to prices they are unwilling to pay.”

The analyst says that while much of the anticipation behind the parachain slot auctions have probably been priced in, there are still likely a few players who haven’t gotten a piece of the action yet.

“What this means is that the demand that will be created by parachain slot auctions on Kusama has already been priced into KSM. However, something tells me that there are more than a few people who haven’t been paying attention to what Kusama’s been up to. Heck, even I didn’t know that Tether will be launching USDT on Kusama.”

Coin Bureau predicts that when the parachain auctions kick off, KSM could experience a supply shortage that may ignite a new bull run.

“When Kusama’s parachain slot auctions begin, I think it is extremely likely that we will see another massive move to the upside that will last for weeks, especially when some of those new tokens start trading. Moreover, all the KSM that is locked in those parachain slot smart contracts won’t be immediately sellable. This means that we could see a massive amount of KSM taken off the market for months. As you know, when you lower the supply of something but the demand stays the same or increases, the price will rise.”

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/DanieleGay

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Markethive Advertisement

The original article written by Daily Hodl Staff and posted on DailyHodl.com.

Article reposted on Markethive by Jeffrey Sloe

Crypto Primed To Overtake Entire Financial Market – Hoskinson

Cardano’s Charles Hoskinson Says Crypto Primed To Overtake Entire Financial Market – Here’s When

By Daily Hodl Staff • May 31, 2021 // ALTCOINS

Cardano founder Charles Hoskinson says that the crypto space is gearing up to take over the entire traditional financial system.

In a new video, Hoskinson shares his thoughts on the current crypto landscape and explains why the nascent industry will become a dominant force that addresses much of the problems of the current financial system.

“[Crypto] is the industry that’s the antidote to the excesses, corruption, and nepotism that we found. This is an industry of frustration that has now been replaced by an industry of creativity and innovation. We’re going to change the world; it’s just that simple. We didn’t ask permission. We came here, and we’re going to get it done together. And there’s simply too many people now. The markets are simply too large. The innovation is simply too vast. It’s going to happen.

It’s no longer a question of if, it’s when, and how will these dinosaurs find a way to survive in this new world order.”

Hoskinson highlights that while crypto may still be in its infancy, he sees the industry maturing quickly. He breaks down his view of the next 10 years, claiming that crypto will take control over the majority of financial operations we use today.

“Over the next 10 years, there’s going to be more advancement in monetary policy from our industry than the last 100 years of central banks.

In the next 10 years, there’s going to be more advancement on financial engineering, the construction of financial products, and the marketplaces upon which trade them than the last 100 years from Wall Street, and England, and Tokyo, and all the other places in the world combined.

In the next 10 years, there’s going to be more movement of wealth 24 hours a day, 7 days a week on crypto rails than there will be through the BIS (Bank for International Settlements), and through the fixed protocols and all these other things that are the mainstay staples of the financial world.”

While the crypto market has largely been dictated by Bitcoin’s movement over the course of its history, Hoskinson sees projects decoupling from Bitcoin this year.

“Unlike the past cycles in 2017 and 2018 compared to today where we’re at, we’re now in a situation where we’ve decoupled from Bitcoin, and people are starting to realize that while [Bitcoin] was a great experiment, it’s not the end-all-be-all and that there’s more to the story. And unlike the past, the macro is starting to actually move in our favor instead of just being this weird cyclic thing.”

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

ecosystem for entrepreneurs
Markethive Advertisement

The original article written by Daily Hodl Staff and posted on DailyHodl.com.

Article reposted on Markethive by Jeffrey Sloe

Bitcoin Whales Have Accumulated 30k BTC

Bitcoin Whales Have Accumulated 30k BTC Between $31k and $40k

JOHN P. NJUI   •   BITCOIN (BTC) NEWS •   MAY 30, 2021

  • Bitcoin whales holding 100 to 10k BTC have accumulated 30k more coins in the last week
  • The accumulation coincided with last weeks retest of $31k and rejection at $40,800
  • Earlier today, Bitcoin dipped to $33,379 before bouncing back to $36,200
  • All eyes are on the weekly close, monthly close and $30k

Bitcoin whales holding 100 to 10,000 BTC have accumulated 30,000 more bitcoins in the last week when the King of Crypto was consolidating between $31k and $40,800. The accumulation by whales was observed and shared by the team at Santiment feed through the following statement and chart.

Bitcoin is at $35.4k after another mild drop-off over the past day. But the key BTC millionaire bracket that we track has seen a mild uptick in holdings. Addresses with 100 to 10,000 BTC have accumulated approximately 30k more BTC this past week.

All Eyes are on Bitcoin’s Weekly and Monthly Close, $30k Support

At the time of writing, Bitcoin is once again above the crucial $35k support after a brief dip to $33,379 earlier today. The dip was soon followed by a bounce to $36,200 leading up to Bitcoin’s current price at $35,700. Bitcoin is still trading below the 200-day moving average which has created the proverbial ‘iron wall’ for BTC at the $40k to $41k price zone.

To note is that the weekly close today and the monthly close tomorrow, are still on the minds of most Bitcoin traders given that tomorrow, May 31st is the Memorial Day holiday in the United States. This in turn means that retail and institutional traders in the United States will take the day off to honor those who have fallen while serving in the US military.

Therefore, Bitcoin’s fate in the next 48 hours, will be in the hands of other global traders who will once again be eyeing the $30k and $35k price areas as logical support zones to usher in the new month of June.

Bitcoin has Printed an Inverted Head and Shoulders Pattern on the 6hr

In terms of Bitcoin’s short-term future next week, BTC has printed what looks like an inverted head and shoulders pattern as seen in the chart below. If the pattern plays out, Bitcoin could reclaim the 200-day moving average (yellow) and go on to retest several key areas between $40k and $50k.

Learn all about Cryptocurrency
Advertisement

Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

ELON MUSK’S MISUNDERSTANDINGS ABOUT BITCOIN

BREAKING DOWN ELON MUSK’S MISUNDERSTANDINGS ABOUT BITCOIN

In a recent tweet explaining why Tesla would no longer accept bitcoin, Elon Musk displayed a poor understanding of Bitcoin’s energy use.


Image courtesy of Bitcoin Magazine

Hass McCook             MAY 28, 2021

Bitcoiners yearn for the good old days of great debates with informed critics who were up for the intellectual challenge. It allowed the community to hone its thought processes, build knowledge and skills to widen the debate and discussion, and generally strengthen our resolve and commitment to our investment thesis.

Unfortunately, we have been completely out of training for about seven years, with not one single new criticism of Bitcoin surfacing that hasn’t already been factually refuted to death. The old critics were a cold glass bottle of Classic Coke, now all we get is lukewarm, off-brand, generic cola.

Et tu, Elon? After all we’ve been through together?

In order to keep this article readable within a reasonable amount of time, I will rely on the reader to dig into the refutations of these arguments, prepared by industry experts based on hard data and computer science, and I will be extensively linking to their work throughout this piece.

We will go through the three paragraphs in Musk’s tweet one by one…

1. “Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”

I have two words for you Mr. Musk: “Prove it.” Prove that the use of fossil fuels for Bitcoin mining is rising. Unfortunately for everyone, this is:

  1. Impossible to do with 100% accuracy due to the decentralized nature of the industry and the impossibility of surveying every single mining operation in the world.
  2. Not what the literature has been saying: A) The Cambridge Centre For Alternative Finance estimates that 76% of all miners use renewable energies as part of their mix, with between 29% and 39% of all energy used coming from renewables, based on industry data from the world’s largest miners and mining pools B) CoinShares estimates that total share of renewables may even be as high as 73%.

Due to the length and amount of links of this article, please read the entire original article at BitcoinMagazine.com, which is written by Hass McCook: I think you will find it very interesting and informative.

ecosystem for entrepreneurs
Markethive Advertisement

This partial article is re-posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Bitcoin Whales Accumulated 30k BTC

Bitcoin Whales Have Accumulated 30k BTC Between $31k and $40k

JOHN P. NJUI   •   BITCOIN (BTC) NEWS •   MAY 30, 2021

  • Bitcoin whales holding 100 to 10k BTC have accumulated 30k more coins in the last week
  • The accumulation coincided with last weeks retest of $31k and rejection at $40,800
  • Earlier today, Bitcoin dipped to $33,379 before bouncing back to $36,200
  • All eyes are on the weekly close, monthly close and $30k

Bitcoin whales holding 100 to 10,000 BTC have accumulated 30,000 more bitcoins in the last week when the King of Crypto was consolidating between $31k and $40,800. The accumulation by whales was observed and shared by the team at Santiment feed through the following statement and chart.

Bitcoin is at $35.4k after another mild drop-off over the past day. But the key BTC millionaire bracket that we track has seen a mild uptick in holdings. Addresses with 100 to 10,000 BTC have accumulated approximately 30k more BTC this past week.

All Eyes are on Bitcoin’s Weekly and Monthly Close, $30k Support

At the time of writing, Bitcoin is once again above the crucial $35k support after a brief dip to $33,379 earlier today. The dip was soon followed by a bounce to $36,200 leading up to Bitcoin’s current price at $35,700. Bitcoin is still trading below the 200-day moving average which has created the proverbial ‘iron wall’ for BTC at the $40k to $41k price zone.

To note is that the weekly close today and the monthly close tomorrow, are still on the minds of most Bitcoin traders given that tomorrow, May 31st is the Memorial Day holiday in the United States. This in turn means that retail and institutional traders in the United States will take the day off to honor those who have fallen while serving in the US military.

Therefore, Bitcoin’s fate in the next 48 hours, will be in the hands of other global traders who will once again be eyeing the $30k and $35k price areas as logical support zones to usher in the new month of June.

Bitcoin has Printed an Inverted Head and Shoulders Pattern on the 6hr

In terms of Bitcoin’s short-term future next week, BTC has printed what looks like an inverted head and shoulders pattern as seen in the chart below. If the pattern plays out, Bitcoin could reclaim the 200-day moving average (yellow) and go on to retest several key areas between $40k and $50k.

Learn all about Cryptocurrency
Advertisement

Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

ELON MUSK’S MISUNDERSTANDINGS ABOUT BITCOIN

BREAKING DOWN ELON MUSK’S MISUNDERSTANDINGS ABOUT BITCOIN

In a recent tweet explaining why Tesla would no longer accept bitcoin, Elon Musk displayed a poor understanding of Bitcoin’s energy use.


Image courtesy of Bitcoin Magazine

Hass McCook             MAY 28, 2021

Bitcoiners yearn for the good old days of great debates with informed critics who were up for the intellectual challenge. It allowed the community to hone its thought processes, build knowledge and skills to widen the debate and discussion, and generally strengthen our resolve and commitment to our investment thesis.

Unfortunately, we have been completely out of training for about seven years, with not one single new criticism of Bitcoin surfacing that hasn’t already been factually refuted to death. The old critics were a cold glass bottle of Classic Coke, now all we get is lukewarm, off-brand, generic cola.

Et tu, Elon? After all we’ve been through together?

In order to keep this article readable within a reasonable amount of time, I will rely on the reader to dig into the refutations of these arguments, prepared by industry experts based on hard data and computer science, and I will be extensively linking to their work throughout this piece.

We will go through the three paragraphs in Musk’s tweet one by one…

1. “Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”

I have two words for you Mr. Musk: “Prove it.” Prove that the use of fossil fuels for Bitcoin mining is rising. Unfortunately for everyone, this is:

  1. Impossible to do with 100% accuracy due to the decentralized nature of the industry and the impossibility of surveying every single mining operation in the world.
  2. Not what the literature has been saying: A) The Cambridge Centre For Alternative Finance estimates that 76% of all miners use renewable energies as part of their mix, with between 29% and 39% of all energy used coming from renewables, based on industry data from the world’s largest miners and mining pools B) CoinShares estimates that total share of renewables may even be as high as 73%.

Due to the length and amount of links of this article, please read the entire original article at BitcoinMagazine.com, which is written by Hass McCook: I think you will find it very interesting and informative.

ecosystem for entrepreneurs
Markethive Advertisement

This partial article is re-posted on Markethive by Jeffrey Sloe

Is Bitcoin The Future Of Money?

The Bear Market Ironically Proves That Bitcoin Is The Future Of Money

By Olivia Brooke – May 29, 2021

Bitcoiner and founder of Global Macro Investor and Real Vision Group Raoul Pal mirrors down the extent to which the cryptocurrency market has grown in a tweet. The goal behind the creation of cryptocurrencies like Bitcoin was, as explained in the Bitcoin whitepaper, was to launch a top competitor against leading currencies like the USD, as well as challenge the existing traditional financial monetary system.

Bitcoin may have just passed a necessary stress test

This year, with Bitcoin hitting new levels, the market generally agrees that Bitcoin has matured as a top asset class and is on its way to disrupting the financial space. However, the recent market dip, as unexpected as it may seem, is considered by some leading players as proof that the market is as inconsistent and unstable as many people claim. In fact, the opposite is exactly the case for Pal and his counterparts who explains why the market may be well-positioned for a global takeover.


BTCUSD Chart By TradingView (Click image for larger view)

In the last two weeks, Bitcoin and many other digital currencies crashed by over 40%. Bitcoin lost its position as a trillion-dollar asset. To Pal, Bitcoin may have just had a VAR-shock test.

With the crash of the market came intense panic from cryptocurrency players. While a lot of bearish news made the cover pages of tabloids, underneath the chaos was a steady cryptocurrency market. Major parts of the market remained firm throughout the storm.

Cryptocurrencies reaffirm global dominance as the market corrects

The market also didn’t rely on higher authorities like the Feds to maintain balance. Despite the short-term blackout in exchanges and other cryptocurrency firms, a recuperation followed soon after. Major exchange losses and network protocol failures were not recorded amid the bloodbath.

Conclusively, the market’s performance mirrors the difference between the traditional market and the crypto market and the structural impact it has on both industries. Usually, the traditional market struggles to cope in times like this, but the opposite as explained above is the case with Crypto.

Pal’s conclusive thoughts are important to keep in mind going forward:

“This is what I first saw in crypto back in 2012. A new, anti-fragile financial system that doesn’t break in times of stress, where ownership of assets is clear and losses are not mutualised to tax payers. This was a big two weeks for crypto and for the future financial system.” 

Learn all about Cryptocurrency
Advertisement

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Olivia Brooke and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Is Bitcoin The Future Of Money?

The Bear Market Ironically Proves That Bitcoin Is The Future Of Money

By Olivia Brooke – May 29, 2021

Bitcoiner and founder of Global Macro Investor and Real Vision Group Raoul Pal mirrors down the extent to which the cryptocurrency market has grown in a tweet. The goal behind the creation of cryptocurrencies like Bitcoin was, as explained in the Bitcoin whitepaper, was to launch a top competitor against leading currencies like the USD, as well as challenge the existing traditional financial monetary system.

Bitcoin may have just passed a necessary stress test

This year, with Bitcoin hitting new levels, the market generally agrees that Bitcoin has matured as a top asset class and is on its way to disrupting the financial space. However, the recent market dip, as unexpected as it may seem, is considered by some leading players as proof that the market is as inconsistent and unstable as many people claim. In fact, the opposite is exactly the case for Pal and his counterparts who explains why the market may be well-positioned for a global takeover.


BTCUSD Chart By TradingView (Click image for larger view)

In the last two weeks, Bitcoin and many other digital currencies crashed by over 40%. Bitcoin lost its position as a trillion-dollar asset. To Pal, Bitcoin may have just had a VAR-shock test.

With the crash of the market came intense panic from cryptocurrency players. While a lot of bearish news made the cover pages of tabloids, underneath the chaos was a steady cryptocurrency market. Major parts of the market remained firm throughout the storm.

Cryptocurrencies reaffirm global dominance as the market corrects

The market also didn’t rely on higher authorities like the Feds to maintain balance. Despite the short-term blackout in exchanges and other cryptocurrency firms, a recuperation followed soon after. Major exchange losses and network protocol failures were not recorded amid the bloodbath.

Conclusively, the market’s performance mirrors the difference between the traditional market and the crypto market and the structural impact it has on both industries. Usually, the traditional market struggles to cope in times like this, but the opposite as explained above is the case with Crypto.

Pal’s conclusive thoughts are important to keep in mind going forward:

“This is what I first saw in crypto back in 2012. A new, anti-fragile financial system that doesn’t break in times of stress, where ownership of assets is clear and losses are not mutualised to tax payers. This was a big two weeks for crypto and for the future financial system.” 

Learn all about Cryptocurrency
Advertisement

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Olivia Brooke and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe