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BITCOIN A ‘VALUED INVESTMENT OPPORTUNITY’ SAYS ARIZONA STATE UNIVERSITY PROFESSOR

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A slight beam of good news shines over the bleeding cryptocurrency market as Arizona State University Professor Dragan Boscovic discusses the future of Bitcoin from a trading standpoint. The scholar seems to think that Bitcoin is regarded by investors as a ‘valued investment opportunity’.

Dragan Boscovic is a computer science research professor at Arizona State University (ASU) and also a director of the Blockchain Research Lab – a project that aims to further the development blockchain-based technology’s applications. In a recent interview with ASU Now, Boscovic offers his insight on Bitcoin’s past, present, and future as an investment asset.

Wall Street

BITCOIN GOES TO WALL STREET

In December 2017, with the eyes of the financial world firmly fixed on Bitcoin, two major futures exchanges – CBOE and CME Group – began offering bitcoin futures. It was an exciting time for the cryptocurrency. The launch of futures trading marked a turning point in Wall Street’s sentiment toward the crypto industry, allowing for a gradual, but nonetheless definitive, entry into mainstream adoption.

The excitement continued into the new year as the Intercontinental Exchange (ICE), which also owns the New York Stock Exchange (NYSE), announced that it was developing a cryptocurrency data feed. The service, which gives financial firms access to “streaming real-time, end of day and historical data for the most actively traded digital currencies,” was rolled out in March. In addition, the NYSE is developing its own online trading platform.

According to Boscovic, cryptocurrencies, while still relatively new, have already been around for nearly a decade – well within the normal time frame for a new technology to gain traction. The professor also notes that “the industry now sees an opportunity to offer a new asset for trade, broadening choices for investors.”

HOLDING UP TO TRADITIONAL CURRENCIES

One key difference between cryptocurrencies and fiat – or sovereign – currencies, Boscovic points out, is the fact that crypto, unlike fiat, cannot be directly influenced by governments. He explains:The vulnerability of a digital currency is based on demand, and it is not open to influence by additional supply. A government can bootstrap an economy by introducing a new supply of traditional currency to influence borrowing. That can’t happen with cryptocurrency.

From a consumer’s standpoint, cryptocurrencies introduce a new choice – an intangible asset which brings with it further investment opportunities.

What’s in it for Other Cryptocurrencies?

WHAT’S IN IT FOR OTHER CRYPTOCURRENCIES?

Boscovic believes that the acceptance of Bitcoin into traditional investment instruments is also going to open the door to other cryptocurrencies:Institutional investors are recognizing this new asset as a valued investment opportunity; this will encourage individual investors. It will also encourage consumers and small shops to start trading in cryptocurrency.

While he refused to make a firm statement about the legitimacy that Bitcoin receives from potential inclusion in the NYSE, the professor did acknowledge that it is offers a serious confidence boost:It’s an encouraging development. Consumers do develop confidence when they see a large institution such as the stock exchange backing and selling cryptocurrencies.

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Bitcoin

Ripple Prediction: XRP Could Reportedly Rally Against Bitcoin (BTC)

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According to the latest reports, Ripple’s digital asset XRP could be soon rallying against Bitcoin.

The token’s price has formed major support near 0.0000900BTC against BTC. XRP seems to be preparing for an upside break above 0.0000920BTC and 0.0000950BTC in the near term

XRP price analysis

During the past few days, there have been range moves below 0.0000920BTC in the price of XRP against BTC.

XRP to BTC has reportedly declined a few points below the 0.0000910BTC and 0.0000900BTC levels, but downsides were limited, says Etehreumworldnews.

They conclude by saying that XRP is definitely getting ready “preparing for the next crucial break either above 0.0000920BTC or below the 0.0000885BTC support. The current price action is positive, suggesting high chances of an upside break above 0.0000920BTC. If not, XRP to BTC could break the 0.0000885BTC support and trade towards the 0.0000850BTC or 0.0000840BTC level in the near term.”

What’s in the cards for Ripple and XRP?

XRP forecast regarding the price for 2019 looks positive especially considering that the coin’s price is somehow related to Ripple, the company’s developments.

Back in September 2018, XRP was able to surge by 300% triggering massive excitement in the Ripple and XRP community.

Since then, Ripple’s products became adopted by more banks and financial institutions, and today, for instance, RippleNet include about 200 members.

Just recently, Euro Exim Bank flaunted the massive benefits of using Ripple’s xCurrent and xRapid:

“Operating collaboratively with Ripple and selected counterparts, we are implementing both xCurrent [payments processing solution] and xRapid [on-demand liquidity solution] building on its extensive technological capabilities and blockchain expertise in trading systems.”

Brad Garlinghouse said that more banks would be flipping the switch and starting to use XRP as well.

Source: oracletimes

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Are Bitcoin Tumblers Smart to Use or Do They Bring Unwanted Attention From Regulators

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A bitcoin tumbler site that offers users untraceable cryptocurrency, BestMixer, could have tainted many wallets by giving them small amounts of BTC as gifts, a practice called crypto dusting.

According to a cryptocurrency security firm, Cypher Trace, if your wallet was among those that received the gift then you may be holding laundered coins. The company believes that, although BestMixer’s owners are compliant, they could have transacted with an alleged money launderer, without consent or knowledge.

According to the CEO of Cipher Trace, David Jevans, wallets that dealt with BestMixer could attract attention from relevant regulators. He also believes that anyone using a tumbler site could be suspected of questionable motives.

It All Started In October 2018

BestMixer began the promotional campaign in October 2018, whereby it set BTC to wallet addresses, adding a promotional message for their tumbler services. The amount sent was minuscule, and ranged between 666 and 888 satoshis.

BestMixer allows people to transact completely anonymously, enabling them to remain private when swiping funds with others. The funds are sourced from different pools, depending on the privacy level a person requires.

The tumbler site also perfects on a time delay in the intention of making it hard for blockchain analysts to trace transactions.

Cryptocurrency Payments No Longer Anonymous

Tracing cryptocurrency transactions used to be difficult, and lack of AML/KYC control made it difficult to link a person to their wallet addrc Be of this, criminals found an opportunity to use the mediuurm for their illicit activities; with platforms such as Silk Toad become more popular in the belief that bitcoin is untraceable.

source:cryptoking

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After a Tumultuous 2018 for Crypto and the Birth of Stablecoins, Here is what to Expect in 2019

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2018 was the year of the bear run and the stablecoin. So what does 2019 hold for the crypto world? While it is impossible to tell what exactly will happen in 2019, one can make a good guess. Here are the five likely scenarios that will play out in 2019 for crypto:

Tether Will Lose Traction

For years, there have been issues raised about how legit Tether is. Despite this, it has remained a popular stablecoin in the crypto world.

However, rival stablecoins such as Coinbase, Circle, and Gemini could offer a challenge. This will erode the monopoly that it has enjoyed in the past. Even if Tether does not shutter as Basis did at the end of 2018, it will most likely not be as dominant.

Facebook Will Mint The WhatsApp Crypto

Facebook has been interested in creating a payments platform for years. The effort started in 2014 when it poached David Marcus of PayPal.

Marcus became the head of messaging products at the company. However, he was picked to head the company’s blockchain project in 2018, which is still shrouded in mystery. Recent reports indicate that he might launch a WhatsApp-based remittance service in India. After a rough period in 2018, the company could use a win in 2019.

The Regulators Will Go After Big Fish

The SEC will take on the major players in crypto in 2019. For instance, it might decide that XRP is unregistered security.

If that happens, Ripple could be hit with huge fines. It might also decide to shut down an exchange for not adhering to anti-money laundering laws. Besides that, celebrities who have used their star power to pump ICs might be in trouble.

The Bitcoin ETF Gets Approved

As the crypto world evolves, it could help the stage for a BTC traded fund also called an ETF. After the bubble burst, investors that are more reasonable are joining the crypto world.

Right now, a firm called Bakkt, created by those behind the NYSE wants to launch a BTC futures market. This could help to improve liquidity in the crypto world. Thus far, it is known that an SEC commission is seeking to have the BTC ETF approved. Before that, a VanEck might or might not be approved next month. It is worth noting how that works out.

The Bear Run Persists

The crypto world has been in a bear run since they reached a high in 2017. Right now, various factors such as volatility in the equity market, a possible economic recession, and global geopolitics might reduce appetite for crypto assets for now.

However, there is a bit of disagreement on this. Some experts believe that prices might bounce back soon. Others believe that crypto prices have not hit their low yet.

Summary

There is a lot of agreement and disagreement over whether these predictions will happen. However, there is quite good evidence to support them if you look at the crypto world right now. It is also worth noting that this is a young industry and anything is possible.

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