Economic Cycle Study co-founder Lakshman Achuthan says a summer season uptrend within the U.S. stock market is approaching.
Varied major components confirmed by the “weekly leading index” counsel a gradual financial recovery that helps a rally expected to closing a additional six weeks.
Two macro dangers dwell as indispensable threats in opposition to the ongoing rally of stocks.
The strategist said that the U.S. stock market is carefully following the pattern of his “weekly leading index.” The index weighs diversified major files aspects, including critical financial figures.
He said:
This weekly leading index objectively in an apolitical capability tells us what end all these positives and negatives, the crosscurrents, add as much as. To this level, so actual… The cyclical recovery is heading within the correct route.
The weekly leading index and the S&P 500 on the identical chart | Offer:CNBC
The U.S. stock market climbed one other 1.78% on July 6, surging by more than 5% since June 26.
Solid fundamentals are backing the stock market recovery
Wall Aspect toll road analysts dwell cautiously optimistic in direction of the latest stock market rally.
For now, the strategist emphasised that diversified major components are supporting thestock market rally.He doesn’t remark that speculative mania around stocks will fizzle away within the shut to-term.
In latest days, the momentum of world equities additional bolstered the uptrend of the U.S. stock market. Shares in Asia,especially in China, recovered. The global pattern hints at a rising hotfoot for meals for threat-on sources across varying markets.
Wall Aspect toll road traded up for the fifth straight day, following global equities elevated. Sentiment particular after Shanghai Comp posted legend-breaking gains, which used to be then reinforced by optimistic US macro files. However, indicators of warning remained. Gold persevered rising, while VIX ended the day elevated.
Bettering sentiment around global equities positively affects the U.S. stock market | Offer:Holger Zschaepitz
As financial files give a prefer to, such because the unemployment payment within the U.S., strategists foresee a gradual stock market recovery.
The resilience of the U.S. stock market regardless of struggles of reopening the financial system across many states has merchants particular.
Two indispensable macro dangers dwell
In the shut to-term, the U.S. stock market faces two grave threats that will possibly furthermore hinder its recovery.
First, the U.S. authorities is inserting additional stress on China by clamping down on TikTok.
Hugely-popular TikTok is below threat of a ban within the United States. | Offer: Twitter
ByteDance, the parent firm of the popular mobile utility, isreportedly valued at $100 billion. There is a threat that China could possibly answer with counter-measures in opposition to American companies to give protection to Chinese companies.
Intensified geopolitical dangers amidst a feeble financial recovery could possibly furthermore bog down the momentum of U.S. stocks.
2nd, a neighborhood of 239 scientists urged the World Health Group (WHO)to acknowledge the airborne-nature of the virus. A entire bunch of scientists worldwide signed a letter to hotfoot the WHO to acknowledge airborne-transmission.
Trouble in direction of a brand original virus transmission route could possibly furthermore hotfoot uncertainty within the U.S. stock market.
The scientists said:
Most public health organizations, including the World Health Group, end now not acknowledge airborne transmission… however in our gaze, insufficient to manufacture protection from virus-carrying respiratory microdroplets released into the air by infected of us.
Pre-market procuring and selling indicates a slight 0.7% drop, suggesting merchants are treading cautiously in anticipation of the WHO’s decision.
NGRAVE, the cutting-edge secure cold wallet provider, surpassed its fixed crowdfunding campaign goal on Indiegogo, raising $434,253 for the launch of its flagship product — the NGRAVE ZERO cold wallet. NGRAVE ZERO is a state-of-the-art crypto wallet management device that encompasses several breakthroughs in the self-custody model of cryptocurrencies.
Our NGRAVE ZERO crowdfunding campaign has come to an end. We’re so thankful to our 1200+ backers & over $400K funding in a single month!
As from today, you can “Start Truly Owning What Is Yours” right in our webshop: https://t.co/hBgyuyAPTg
“The NGRAVE ZERO campaign is the most successful hardware wallet crowdfund on IGG, vastly outpacing four competitors in the market who launched crowdfunding campaigns before us, and around ten more that never reached their funding goal” says Ruben Merre, CEO of NGRAVE. “This is a huge feat for us, especially during COVID-19 when there were no offline events to showcase the device and a backdrop of financial uncertainty.”
Existing completely offline, NGRAVE ZERO is among one of the first fully air-gapped hardware cold wallet solutions. User private keys are never exposed to the Internet as the device is encapsulated by NGRAVE’s novel security system, which is the first EAL7 security certified (the highest level achievable) product in the blockchain market. The NGRAVE ZERO functions independently of outside network connections, including WiFi, 4G, Bluetooth, and it does not require a USB connection to a computer – security vulnerability characteristics of most NGRAVE’s market competitors.
The device is capable of its offline existence via the clever use of one-way QR codes. Transactions are broadcast to and from the device using the NGRAVE Liquid mobile app that complements the NGRAVE ZERO.
“The interaction with the blockchain takes place through one-way QR codes communicating required information from the ZERO to the app and vice versa,” says Merre. “What’s also interesting about QR codes is that it’s easy for the user to verify its contents, as it’s limited by what can be communicated in terms of capacity.”
The result is a high degree of transparency for the user, combining closed source and open source models to make an intuitive experience for the end-user. Only public info is exposed with QR codes, which can never be traced backed to the private keys, eliminating the black box of USB and Bluetooth connection-based wallets.
The security of crypto assets is one of the endemic problems of the cryptocurrency industry. According to CipherTrace, a cryptocurrency cybersecurity and risk analysis firm, the total sum of hacks, fraud, and thefts in the crypto market surpassed $1.3 billion in the first five months of 2020 — marking the second-fastest annual pace since recording began. The stark figure comes despite broader advances in crypto asset management in recent years, largely due to the persistently evolving attack vectors derived from semi-offline cold wallet solutions.
NGRAVE ZERO performs all of the necessary functions of executing transactions on the device offline, including wallet creation and signing transactions. Digital attack vectors are consequently removed. Cold wallet security is not solely dependent on an offline existence, either. Physical attempts to infiltrate hardware devices are also a threat to asset security.
NGRAVE tackled the physical problem by crafting the NGRAVE ZERO from scratch. Working with leading chip manufacturers and R&D teams in nano-scale electronics, hardware security, and applied industrial cryptography, NGRAVE created a multi-layered, anti-tampering framework — impenetrable to physical attacks.
Alongside NGRAVE ZERO’s breakthrough innovation is the development of the first recoverable wallet backup in the market, NGRAVE Graphene. Two stainless steel plates encompass a dual backup phrase model where a unique upper plate is used to punch holes with an embossing pen into the lower plate.
The backup key is a 64 character hexadecimal analog of the common 24-word mnemonic phrase in crypto hardware products, enabling the key to be split into two agnostic parts that are completely useless without each other. They are recoverable upon loss without any third-party risk of exposing the user’s key. NGRAVE Graphene’s stainless steel plates are resistant to fire, water damage, corrosion, and electrical shocks.
Following its successful Indiegogo campaign, NGRAVE will begin shipping limited edition colors of the NGRAVE ZERO to its early backers. Pre-order shipping is expected in October.
About NGRAVE NGRAVE is an emerging crypto hardware wallet provider offering the coldest wallet solution available in the cryptocurrency market today. Wielding several breakthroughs in offline security, physical tampering, and recoverable backup keys, NGRAVE ZERO, the flagship product of NGRAVE, is at the cutting-edge of crypto wallet security, represented by the firm’s esteemed EAL7 certification. One of the first completely air-gapped hardware cold wallets available in the market today, NGRAVE ZERO represents the safest way to send/receive transactions and store crypto assets. The company is led by Co-Founders Ruben Merre (CEO), Xavier Hendrickx (CTO), and Edouard Vanham (COO).
This month Bitcoin.com launched two services that help facilitate bitcoin cash adoption and crypto remittance via email. In a recent video on June 5, Bitcoin.com’s Roger Ver showcased gifts.bitcoin.com, a new feature that allows individuals to send BCH gift cards … read more.
U.S. contract mining firm Core Scientific has agreed on a deal to buy 17,600 mining rigs from Chinese bitcoin hardware maker Bitmain Technologies Inc. The company is buying Bitmain’s next-generation bitcoin (BTC) miner, the Antminer S19, it said in a … read more.
A new, comprehensive analysis has predicted the price of bitcoin to reach almost $20K this year and will keep rising to almost $400K by 2030. The researchers have also predicted the future prices of several other major cryptocurrencies, including bitcoin … read more.
The crypto industry in India is experiencing massive growth, according to a new survey of crypto banks and exchanges. Despite the country’s deepening coronavirus crisis, crypto exchanges say trading volumes and the number of signups continue to grow substantially. India’s … read more.
During the last seven days, the price of bitcoin has dropped 4.8% from a high of $9,700 on June 24, to a low of $8,965 on June 27. Since then the price has increased and the price per bitcoin is … read more.
Hut 8 Mining Corp. has raised $8.3 million from the sale of 6% of its shares to investors. The Canadian bitcoin miner originally intended to raise $7.5 million from the sale, but it was oversubscribed. Totonto Stock Exchange-listed Hut 8 … read more.
The gold industry has been shaken after it was discovered that 83 tons of fake gold bars have been used as collateral for loans worth 20 billion yuan from 14 financial institutions to a major gold jewelry manufacturer in Wuhan, … read more.
On July 1, 2020, the popular eatery and bar in Japan, Brewdog Tokyo, started accepting bitcoin cash payments for products and services. The establishment is the third Brewdog bar to accept bitcoin cash, as the cryptocurrency is accepted at the … read more.
The second quarter of 2020 was very profitable for bitcoin investors, according to data analytics firm Skew. During the period, the top cryptocurrency climbed 42%, its fourth-best quarterly close since 2014. For the March quarter, the digital asset fell 10.6%, … read more.
The most popular stablecoin, Tether, has propelled its way into the third-largest position by cryptocurrency market capitalization. At the time of publication, a number of market valuation aggregators show that Tether’s market cap is between $9.1 to $10.1 billion. Tether … read more.
The founder of Freedomain, philosopher and alt-right activist, Stefan Molyneux, received more than $100,000 in cryptocurrency donations after he was banned from Youtube on June 29, 2020. Stefan Molyneux is well known for his Youtube videos, podcasts, and books. His … read more.
The UK’s top financial regulator has conducted a survey and found a “significant increase” in the number of crypto owners and awareness of cryptocurrencies. The regulator estimates that 2.6 million people in the country have bought cryptocurrencies, most of which … read more.
Governments in nearly 100 countries have been sharing offshore bank account information in an effort to crack down on tax evasion. Their “Automatic exchange of information” has led to uncovering 10 trillion euros ($11 trillion) in offshore assets in 84 … read more.
A recent report from ZUBR Research explains that by 2028, retail demand for bitcoin will exceed the new supply. The report highlights that in eight years as Bitcoin’s supply rate decreases “retail size addresses [will] begin to eat up all … read more.
During the last few days, a number of cryptocurrency supporters have been discussing Paul Sztorc’s Drivechain project, also referred to as “Drivenet.” The Drivechain project has been a work in progress for years now, and just recently Sztorc published a … read more.
Peer-to-peer (P2P) crypto exchange Localbitcoins has reported that 2019 revenue rose 10% to $29.6 million from $27 million a year ago. For the year, operating income fell 6% to $19.9 million from $21.2 million the year before. Localbitcoins did not … read more.
The bitcoin ASIC mining rig manufacturer, Ebang International Holdings, was recently listed on Nasdaq last Friday on June 26. Ebang is now the second mining rig manufacturer to have a U.S. initial public offering (IPO) by selling company shares. Since … read more.
A number of cryptocurrency proponents have been discussing the stablecoin DAI this week, as the DAI allegedly held on the Compound platform is much larger than what is recorded in circulation. At press time, Compound statistics show there’s $523 million … read more.
A Russian district court has dismissed bitcoin theft as a crime since cryptocurrency is not regulated in Russia and there is no legal status for bitcoin. The accused were found guilty, sentenced to prison, and ordered to return only the … read more.
The UK is denying Nicolas Maduro access to Venezuela’s gold worth about $1 billion, stored at the Bank of England. The UK High Court has ruled that the country does not recognize Maduro as president of Venezuela, blocking him from … read more.
Arcane Crypto, a Norway-based investment company, said Thursday that it is planning to go public through a reverse takeover by Vertical Ventures, a publicly traded Swedish firm. Vertical Ventures will buy Arcane Crypto for $33 million by issuing over 6.6 … read more.
According to a number of crypto prediction markets and futures, Trump will still win the election in 123 days, but his chances have lessened a great deal. No matter who wins, however, the large sums of money flowing into these … read more.
Twitter and Square CEO, Jack Dorsey recently said “Africa will define the future (especially the Bitcoin one!)” But was he right? Crypto in Africa on the Rise Sad to be leaving the continent…for now. Africa will define the future (especially … read more.
The United States tax agency has published a request for information pertaining to privacy-centric cryptocurrencies and technologies that obfuscate crypto transactions. The IRS-CI Cyber Crimes Unit request is also asking for information in relation to “layer two offchain protocol networks, … read more.
A global bitcoin scam has reportedly leaked personal data of about 250,000 people from more than 20 countries. The majority of the compromised data were of people in the U.K., Australia, South Africa, and the U.S. This bitcoin scam operates … read more.
The Financial Action Task Force (FATF) has a new president as Germany took over the presidency from China. The intergovernmental organization also highlighted the need for more guidance on cryptocurrencies as many countries have not yet fully implemented its revised … read more.
More than 2,500 merchants in Austria can accept three types of cryptocurrencies via the payment processor Salamantex. The company explained that the system was tested with a number of select A1 5Gi network shops. Since the Covid-19 outbreak, contactless payments … read more.
Governments of the Industrial World, you weary giants of flesh and steel, I come from Cyberspace, the new home of Mind. On behalf of the future, I ask you of the past to leave us alone. You are not welcome … read more.
Seba, a Switzerland based bank, is proposing a Bitcoin valuation model that places its fair value at $10,670. At this price, the model suggests Bitcoin is trading at a significant discount, at just above $9,100. In a blog posting this … read more.
Blockchain entrepreneur and former Disney child actor, Brock Pierce, is running for President of the United States this election. Pierce announced he was running during America’s Independence Day celebration on July 4, the same day Kanye West revealed his candidacy. … read more.
More than 700,000 Expedia Group hotels and accommodations are now available via crypto-friendly travel booking platform Travala. Bookings can be paid with more than 30 cryptocurrencies, including bitcoin. Despite covid-19, Travala saw a 170% increase in booking revenue from its … read more.
On July 1, 2020, the partner of Polynexus Capital, Andrew Steinwold, detailed that the sales of blockchain-powered non-fungible tokens (NFTs) are about to cross the $100 million mark. The popularity of NFTs has grown massive since 2017, as blockchain cards, … read more.
The cryptocurrency data analytics and research company, Skew has warned that bitcoin could see a massive sell-off due to declining volatility. The data analytics firm says that bitcoin (BTC) realized volatility hit 20% over the past 10 days – it’s … read more.
A study report by Leadblock Partners, an appointed representative of Sapia Partners LLP, finds an accelerating growth of the European blockchain ecosystem.The findings of the Leadblock Partners study suggest European respondents have a funding need for €350 million for the … read more.
Crypto derivatives trading volumes plunged 36% to $393 billion in June, the lowest they have reached in 2020, according to a new report by Cryptocompare. The decline may be the result of a lull in investor interest in the instruments … read more.
A South African high court has declared an alleged bitcoin scam mastermind, Willie Breedt, bankrupt. The court decision follows an application by one disgruntled investor, Simon Dix, a News24 report states. Willie Breedt is the CEO of the defunct Vaultage … read more.
The U.S. is gearing up for the looming 2020 election amid a bleak economic backdrop blighted by the coronavirus pandemic.
A crowded Democratic primary field has given way to former vice president Joe Biden, the presumptive nominee, who is set to take on Donald Trump for the White House in November.
Now, following outspoken rapper Kanye West’s announcement he’ll be making a bid to become the 46th U.S. president, controversial former child actor-turned-bitcoin and cryptocurrency advocate Brock Pierce has thrown his hat into the ring, promising to use technology to “enhance institutions and improve lives.”
Brock Pierce, chairman of the Bitcoin Foundation and co-founder of bitcoin and crypto-focused … [+] venture capital firm Blockchain Capital, has said he’ll be running for U.S. president in the 2020 election.
Getty Images for The Sime Awards
“Technology should be embraced, not feared,” Pierce said in a video announcing his independent presidential bid. “If our government was using 21st century technology, all of those stimulus and unemployment checks would have been received by the people in need much sooner.”
The IRS has sent out around 160 million stimulus checks to Americans, mostly by direct deposit and paper check, as part of the $2 trillion coronavirus stimulus package president Donald Trump signed in March.
The government’s sudden need to distribute cash to citizens in response to the economic devastation caused by the coronavirus pandemic has led to calls for an overhaul of the legacy financial system, with proposals for the digitalization of the dollar put forward by Congress.
Such proposals have so far failed to win broad support but a clutch of lawmakers continue to make the case for reform, least the dollar lose its place as the world’s reserve currency.
“The U.S. dollar has to keep earning that place in the global payments system. It has to be better than bitcoin… it has to be better than a digital yuan,” Senator Tom Cotton told the Senate Banking Committee’s digital dollar hearing last week, referring to China’s recent efforts to digitalize its currency.
“Technology is a solution we should be proactively using,” Pierce said in his campaign launch video, adding: “What’s served us in the past will not serve us in the future.”
Pierce, a former child actor whose cryptocurrency net worth was put at between $700 million and $1 billion in early 2018, has funded dozens of cryptocurrency companies, including San Francisco-based bitcoin and crypto exchange Coinbase, EOS creator Block.one and crypto-focused venture capital fund Blockchain Capital. Pierce is also the co-founder of the oft-sued stablecoin tether, now the world’s third largest cryptocurrency by value, according to CoinMarketCap data.
If Pierce is to be successful in his bid for the White House he’ll likely have to address decades-old allegations against him made by three former employees of his now bankrupt web video business, Digital Entertainment Network, that he provided them drugs and pressured them for sex when they were minors. Pierce issued a denial to Reuters in 2014.
“In the very near future the landscape of our country will forever change,” Pierce said, echoing Andrew Yang, a Democratic presidential election hopeful who campaigned on an automation awareness platform before dropping out.
“Innovations like AI will alter our work space in ways we can foresee and prepare for.”
By 2030 as many as a third of American jobs might have disappeared because of automation, according to a 2017 report by consultants McKinsey & Company—though other studies paint a rosier picture, predicting new jobs will replace the majority of those lost.
Pierce, who officially resides in Puerto Rico, has yet to unveil any specific policies, telling people to “stay tuned,” via Twitter.
The announcement has been cheered by some in the bitcoin and cryptocurrency community, with Samson Mow, the chief strategy officer of blockchain technology company Blockstream telling Pierce: “You have my vote.”
“Give [them] hell, buddy,” Michael Novogratz, the chief executive of crypto investment company Galaxy Digital, said via Twitter.
Pierce isn’t the first bitcoin and cryptocurrency investor to make a bid for the U.S. presidency.
John McAfee, the controversial and outspoken software pioneer-turned international playboy, ran in 2016 and plans to run again this year.
This month Bitcoin.com launched two services that help facilitate bitcoin cash adoption and crypto remittance via email. In a recent video on June 5, Bitcoin.com’s Roger Ver showcased gifts.bitcoin.com, a new feature that allows individuals to send BCH gift cards … read more.
U.S. contract mining firm Core Scientific has agreed on a deal to buy 17,600 mining rigs from Chinese bitcoin hardware maker Bitmain Technologies Inc. The company is buying Bitmain’s next-generation bitcoin (BTC) miner, the Antminer S19, it said in a … read more.
A new, comprehensive analysis has predicted the price of bitcoin to reach almost $20K this year and will keep rising to almost $400K by 2030. The researchers have also predicted the future prices of several other major cryptocurrencies, including bitcoin … read more.
The crypto industry in India is experiencing massive growth, according to a new survey of crypto banks and exchanges. Despite the country’s deepening coronavirus crisis, crypto exchanges say trading volumes and the number of signups continue to grow substantially. India’s … read more.
During the last seven days, the price of bitcoin has dropped 4.8% from a high of $9,700 on June 24, to a low of $8,965 on June 27. Since then the price has increased and the price per bitcoin is … read more.
Hut 8 Mining Corp. has raised $8.3 million from the sale of 6% of its shares to investors. The Canadian bitcoin miner originally intended to raise $7.5 million from the sale, but it was oversubscribed. Totonto Stock Exchange-listed Hut 8 … read more.
The gold industry has been shaken after it was discovered that 83 tons of fake gold bars have been used as collateral for loans worth 20 billion yuan from 14 financial institutions to a major gold jewelry manufacturer in Wuhan, … read more.
On July 1, 2020, the popular eatery and bar in Japan, Brewdog Tokyo, started accepting bitcoin cash payments for products and services. The establishment is the third Brewdog bar to accept bitcoin cash, as the cryptocurrency is accepted at the … read more.
The second quarter of 2020 was very profitable for bitcoin investors, according to data analytics firm Skew. During the period, the top cryptocurrency climbed 42%, its fourth-best quarterly close since 2014. For the March quarter, the digital asset fell 10.6%, … read more.
The most popular stablecoin, Tether, has propelled its way into the third-largest position by cryptocurrency market capitalization. At the time of publication, a number of market valuation aggregators show that Tether’s market cap is between $9.1 to $10.1 billion. Tether … read more.
The founder of Freedomain, philosopher and alt-right activist, Stefan Molyneux, received more than $100,000 in cryptocurrency donations after he was banned from Youtube on June 29, 2020. Stefan Molyneux is well known for his Youtube videos, podcasts, and books. His … read more.
The UK’s top financial regulator has conducted a survey and found a “significant increase” in the number of crypto owners and awareness of cryptocurrencies. The regulator estimates that 2.6 million people in the country have bought cryptocurrencies, most of which … read more.
Governments in nearly 100 countries have been sharing offshore bank account information in an effort to crack down on tax evasion. Their “Automatic exchange of information” has led to uncovering 10 trillion euros ($11 trillion) in offshore assets in 84 … read more.
A recent report from ZUBR Research explains that by 2028, retail demand for bitcoin will exceed the new supply. The report highlights that in eight years as Bitcoin’s supply rate decreases “retail size addresses [will] begin to eat up all … read more.
During the last few days, a number of cryptocurrency supporters have been discussing Paul Sztorc’s Drivechain project, also referred to as “Drivenet.” The Drivechain project has been a work in progress for years now, and just recently Sztorc published a … read more.
Peer-to-peer (P2P) crypto exchange Localbitcoins has reported that 2019 revenue rose 10% to $29.6 million from $27 million a year ago. For the year, operating income fell 6% to $19.9 million from $21.2 million the year before. Localbitcoins did not … read more.
The bitcoin ASIC mining rig manufacturer, Ebang International Holdings, was recently listed on Nasdaq last Friday on June 26. Ebang is now the second mining rig manufacturer to have a U.S. initial public offering (IPO) by selling company shares. Since … read more.
A number of cryptocurrency proponents have been discussing the stablecoin DAI this week, as the DAI allegedly held on the Compound platform is much larger than what is recorded in circulation. At press time, Compound statistics show there’s $523 million … read more.
A Russian district court has dismissed bitcoin theft as a crime since cryptocurrency is not regulated in Russia and there is no legal status for bitcoin. The accused were found guilty, sentenced to prison, and ordered to return only the … read more.
The UK is denying Nicolas Maduro access to Venezuela’s gold worth about $1 billion, stored at the Bank of England. The UK High Court has ruled that the country does not recognize Maduro as president of Venezuela, blocking him from … read more.
Arcane Crypto, a Norway-based investment company, said Thursday that it is planning to go public through a reverse takeover by Vertical Ventures, a publicly traded Swedish firm. Vertical Ventures will buy Arcane Crypto for $33 million by issuing over 6.6 … read more.
According to a number of crypto prediction markets and futures, Trump will still win the election in 123 days, but his chances have lessened a great deal. No matter who wins, however, the large sums of money flowing into these … read more.
Twitter and Square CEO, Jack Dorsey recently said “Africa will define the future (especially the Bitcoin one!)” But was he right? Crypto in Africa on the Rise Sad to be leaving the continent…for now. Africa will define the future (especially … read more.
The United States tax agency has published a request for information pertaining to privacy-centric cryptocurrencies and technologies that obfuscate crypto transactions. The IRS-CI Cyber Crimes Unit request is also asking for information in relation to “layer two offchain protocol networks, … read more.
A global bitcoin scam has reportedly leaked personal data of about 250,000 people from more than 20 countries. The majority of the compromised data were of people in the U.K., Australia, South Africa, and the U.S. This bitcoin scam operates … read more.
The Financial Action Task Force (FATF) has a new president as Germany took over the presidency from China. The intergovernmental organization also highlighted the need for more guidance on cryptocurrencies as many countries have not yet fully implemented its revised … read more.
More than 2,500 merchants in Austria can accept three types of cryptocurrencies via the payment processor Salamantex. The company explained that the system was tested with a number of select A1 5Gi network shops. Since the Covid-19 outbreak, contactless payments … read more.
Governments of the Industrial World, you weary giants of flesh and steel, I come from Cyberspace, the new home of Mind. On behalf of the future, I ask you of the past to leave us alone. You are not welcome … read more.
Seba, a Switzerland based bank, is proposing a Bitcoin valuation model that places its fair value at $10,670. At this price, the model suggests Bitcoin is trading at a significant discount, at just above $9,100. In a blog posting this … read more.
Blockchain entrepreneur and former Disney child actor, Brock Pierce, is running for President of the United States this election. Pierce announced he was running during America’s Independence Day celebration on July 4, the same day Kanye West revealed his candidacy. … read more.
More than 700,000 Expedia Group hotels and accommodations are now available via crypto-friendly travel booking platform Travala. Bookings can be paid with more than 30 cryptocurrencies, including bitcoin. Despite covid-19, Travala saw a 170% increase in booking revenue from its … read more.
On July 1, 2020, the partner of Polynexus Capital, Andrew Steinwold, detailed that the sales of blockchain-powered non-fungible tokens (NFTs) are about to cross the $100 million mark. The popularity of NFTs has grown massive since 2017, as blockchain cards, … read more.
The cryptocurrency data analytics and research company, Skew has warned that bitcoin could see a massive sell-off due to declining volatility. The data analytics firm says that bitcoin (BTC) realized volatility hit 20% over the past 10 days – it’s … read more.
A study report by Leadblock Partners, an appointed representative of Sapia Partners LLP, finds an accelerating growth of the European blockchain ecosystem.The findings of the Leadblock Partners study suggest European respondents have a funding need for €350 million for the … read more.
Crypto derivatives trading volumes plunged 36% to $393 billion in June, the lowest they have reached in 2020, according to a new report by Cryptocompare. The decline may be the result of a lull in investor interest in the instruments … read more.
A South African high court has declared an alleged bitcoin scam mastermind, Willie Breedt, bankrupt. The court decision follows an application by one disgruntled investor, Simon Dix, a News24 report states. Willie Breedt is the CEO of the defunct Vaultage … read more.
Despite the torrent of bad news stemming from the novel coronavirus, I remain steadfast in the thesis that the coming years will see incredible innovations. Thanks to the confluence of multiple technologies arriving at the same time, investors can profit handsomely from this paradigm shift. And if you want a sector that has the potential for truly explosive gains, look no further than cryptocurrencies.
Source: Shutterstock
I’ve long been a fan of bitcoin and alternative cryptocurrencies, or altcoins for short. It’s not just the hypersonic growth that we’ve seen in recent years and which I believe we’ll see again. Rather, the virtual currency market could very well be the way future generations transact not only payments but also major contracts, such as real estate or automotive purchases.
Admittedly, that sounds like a stretch, especially to a newcomer to this space. However, it’s all part of the amazing evolution behind cryptocurrencies.
At first, bitcoin revolutionized the concept of digital payments via virtual currencies. Through an innovation called the blockchain, this system performed the critical functions associated with government-issued money but under a decentralized and immutable platform.
To make a long story short, bitcoin’s blockchain architecture prevented end-users from duplicating the digital currency. Thus, this eliminated the counterfeiting threat. Just as importantly, this blockchain prevents a sole user or entity from artificially inflating the number of tokens available, thereby protecting its structural integrity and promoting “trust” in its free market valuation.
Quite simply, bitcoin is a remarkable invention. But other cryptocurrencies are tied to blockchains that are more advanced than bitcoin’s architecture. For instance, Ethereum’s blockchain could theoretically “digitalize” attorneys, eliminating middlemen in contract negotiations the way bitcoin eliminated central bankers.
Cryptocurrencies Are Also Economic Indicators
When you analyze the investment theses of various altcoins, you’ll notice that the reduction or outright elimination of redundant parties to a transaction of financial value is common in many if not most of them. That’s not a coincidence – this concept appeals to everyone.
The best example is real estate. Part of what makes such transactions expensive is the various cogs involved, from agents to brokers to attorneys and all their associated overhead costs. Yet at the end of the day, a home purchase is between just two entities: a buyer and a seller.
Ultimately, cryptocurrencies exist to ask a basic question. If we could eliminate middleman cogs, how much cheaper would it be to purchase a house or car? This is the reason why so many visionaries are excited about the prospects of bitcoin and viable altcoins.
However, I concede that such a transition from analog middlemen to a fully digitalized platform will take time. But that doesn’t mean that cryptocurrencies are one-dimensional assets based purely on capital gains potential.
One dynamic I noticed in the year so far is that bitcoin has been inversely correlated with U.S. unemployment benefits claims. That is, as filings for jobless claims increased, bitcoin has decreased. But as the number of filings have steadily declined, the virtual currency is beginning to stabilize at a high threshold.
Moreover, I expect this trend to continue. While the overall unemployment rate in our country is still elevated at 11.1%, the jobless rate for those ages 25 and older and holding at least a bachelor’s degree never touched double-digit territory.
In June, this segment’s unemployment rate dropped to 6.9% from 8.4% in April. That’s exactly what you want to see, as this working demographic represents bitcoin’s prime investor base.
Bitcoin Could Lead Us into the Roaring 2020s
As bitcoin and major altcoins move higher, you can take that as a sign of broader economic improvement. When you consider the unemployment rate for workers with advanced degrees, the picture is much more encouraging. To get the most out of cryptocurrencies requires more tech savvy than your “regular” investment. Therefore, if the savviest among us are doing relatively well, that’s a positive for blockchain-based developments.
Logically, if virtual currencies become further mainstreamed, this progression will be net positive for every American. Because whether you’re trying to send money to family overseas or you’re buying your first home, everything has the potential to be quicker, simpler and, yes, cheaper with the blockchain.
And that’s really the main reason why cryptocurrencies have exploded higher in years past and why they will continue this remarkable trajectory. By fleshing out the ecosystem, the blockchain will start disrupting every transaction that involves middlemen. About the only people that are fearful of this coming transition are those who profit from current inefficient systems.
I’ve talked at length about the imminent convergence of technological innovations as the Roaring 2020s. But the one sector that could roar the loudest is the virtual currency market. If you’re going to miss an opportunity, don’t let it be this one!
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Piers Morgan has constantly been a scathing, declare-it-treasure-it-is-media savant that isn’t petrified to let his mouth flee away with him, especially in the case of Meghan Markle.
The British author used to be the major to earn manipulative Meg down a peg or three, but now he’s very a lot changed his thought.
In an interview with Grazia, Morgan admits to having an “awakening.” What has he been drinking?
Ever since Meghan bought engaged to Harry, Morgan has been one of her most outspoken critics.
In phrases of being anti-Sussex, the 55-year-archaic primitive editor of The Reflect has been the one leading the fee.
Meghan first reached out to Piers by device of Twitter earlier than mercurial ghosting him after shacking up with Harry | Provide:Twitter
As a one-time friend of the Duchess, Morgan has made it sure on several occasions that he sees by device of her. When she used to be named high social climber by Tatler, Piers used to be the major to congratulate Meghan on her achievements.
She’s worked very onerous for that honor and I congratulate her…Enormous social ice climbing. The ice climbing littered with the carcasses of these who once knew you, littered spherical.
Piers has been accused of being too onerous on Meghan and Harry within the previous | Provide:Twitter
Out of the total issues to occur this year – the bubonic plague rearing its head, covid-19 sweeping the sphere, Donald Trump telling americans to inject themselves with disinfectant – this strange flip of events is doubtlessly essentially the most beautiful. Our leading man has deserted us in our time of want, citing an “awakening.”
Meghan Bear time, Piers Has Left the Building
We are all entitled to a alternate of heart, but Piers used to be constantly distinct and steadfast in hismistrust of Meghan. Finally, she did ditch him on the tumble of a hat when she shacked up with her royal ginger ninja.
Piers has been one of Meghan’s most outspoken critics | Provide:Twitter
Inan interview printed in Grazia, Morgan claimed to have constantly “been a liberal at heart,” and spoke candidly about discouraging racism, his anti-Trump views, and his therapy of Meghan Markle.
A long way from being the scratching, opinionated Morgan we know and love, right here’s a scaled-down, PG13 version. To assign it bluntly, Morgan has been neutered, but by what it remains to be considered. Per him, the transformation is easy.
I’ve woken up. I’ve had an awakening. No longer in a woke formula. But I even have woken up.
Piers went on to claim that in the case of Meghan, aka her highness of pretend shyness, he can must restful’ve handled it in every other case.
When I leer abet on the Meghan Markle stuff presumably there used to be the next formula of handling it. It all regarded so well-known on the time, now it appears to be like so beside the purpose. I used to be in a situation to leer her talking about George Floyd and judge she made some real aspects.
In Also can merely, he mentioned he doubtlessly bought a bit bit over-infected in his pursuit of the runaway Duchess and her hypnotized hubby, but we gave him the revenue of the doubt. One moment of weakness given essentially the most trendy climate is understandable. Now it appears to be like that Piers Morgan has fallen for Machiavellian Meg’s never-ending barrage of enact-real nonsense.
Piers used to be once the leader, but now he’s appropriate the mammoth deserter | Provide:Twitter
Now the leisure of the sphere has caught up, Piers has left the building, leaving us with out a total, but fearlessly marching on nonetheless. Morgan could well want left the struggle, however the leisure of us are restful in it.
Disclaimer: The opinions expressed on this text enact not necessarily mirror the views of CCN.com.
The value of cryptocurrency markets
is growing each year exponentially. As a result, new exchanges are also coming
up to facilitate trading in this new form of currency. If you are choosing a cryptocurrency futures exchange, do your homework, and
check the security measures on the platform.
Also, remember that a majority of
exchanges do not work under specific rules and regulations. Your money may be
at risk if you fail to pay attention to these critical factors.
Location
Matters a Lot
Before selecting any exchange for
cryptocurrency futures trading, make sure that it is legal and available in
your country. In many nations, there is a regulatory fog surrounding this
market.
Hence, exchanges cannot operate in
these geographies. Many exchanges may not accept U.S. citizens as their
customers as well. It makes sense to look at the address of the company for
protecting against any frauds. If you get hacked, it will be challenging to
determine the right jurisdiction if you don’t know about the exchange location.
Availability
of Market Data
For successful trading, you need easy
access to market data and technical details. With an advanced platform, it
becomes easy to find the prices displayed across connected venues using consolidated
data feed. Also, the platform should provide access to various crypto markets
with a single account.
High Trading
Volumes and Liquidity
You would always want to pick a cryptocurrency futures exchange
that has higher volumes and liquidity. High volume trading leads to better
accuracy of prices. The exchange processes several transactions at once. So,
they have higher stringency in their pricing and approvals.
The experts recommend not keeping too
much money on any exchange for too long. It can be risky even if you choose a
verified and researched exchange. Also, check if the liquidity is aggregated
through multiple venues like OTC desks, exchanges, and other resources.
Security
against Risks and Frauds
In the past, digital currency
exchanges have been subjected to many hacking incidents. The exchange hack of Mt. Gox in 2014
resulted in a loss of $430 million and 740,000 Bitcoin. Such scams or hacks can
put your money in danger. Hence, it is incredibly critical that you pick the
exchange following the best security protocols.
See if they keep the stored funds
safely with measures like multi-signature access by authorized people only. You
can also make sure that the exchange has nearly 95% of its assets in offline
facilities.
In this respect, look at the
following aspects.
Check the security
protocols in the exchange’s web address
Two-factor authentication
for login safety
Auditing and monitoring
of exchange activities
See if the exchange
ensures its funds to reimburse your losses
Excellent
User Experience
When trading through a cryptocurrency
exchange, you need a smooth experience without any interference. So, pick the
platforms that protect your identity and provide a simple user interface. Check
the performance of the platform on both a desktop and a mobile device. If the
design is responsive, you can manage your trades through your phone, even on
the go.
Most importantly, check the exchange
reviews and see what others have to say about the support and services it
offers. Some exchanges provide the fastest time as well. They allow you to
register, deposit the money, withdraw cash, and start with the contracts within
a few minutes.
Compare the
Charges
Before finalizing a cryptocurrency futures exchange,
it is essential to compare the fees with other platforms. Usually, the exchange
will charge less than one percent for each transaction.
The charges may decline further if
the volumes increase. Also, check the withdrawal fees as it may be reasonably
high on some platforms. Lastly, review and compare the exchange rates of coins
at several platforms for maximum advantage.
Ask about
the Policies and Reputation
Not every cryptocurrency exchange is
the same. At some exchanges, you may still not get digital tokens. As a result,
you have to pay in cash for your trades. In some locations, there are
compliance requirements and registration procedures for these platforms. Make
sure that the exchange follows all these guidelines to protect your investment.
When trading cryptocurrency futures,
you may also need help and support of the experts to understand the basics and
make informed decisions. If an exchange has a proper support system and guides
to lead your way, you can consider registering and trading with them.
The Dow Jones rallied virtually 350 points on Monday.
Optimistic economic files within the U.S. and Europe helped spur risk speed for food.
Unfortunately for Dow bulls, this day’s ISM files might maybe be less optimistic than it looks on the skin.
The Dow Jones enjoyed commence to the week as risk-on speed for food engulfed Wall Facet road. Win economic files build the bulls within the driver’s seat.
While indicators of restoration are rising extra and extra pronounced all over the sphere economic system, are investors exaggerating what the statistics mean?
Dow Jones Booms as World Economy Exhibits Extra Indicators of Lifestyles
All three major U.S. stock market indices soared on Monday, even though neither the Dow nor the S&P 500 might maybe match the Nasdaq because it rocketed to one other all-time high.
The Dow Jones surged on Monday as Wall Facet road momentum persevered to rise. | Source:Yahoo Finance
Here’s where they stood at 3: 03 pm ET:
The Dow had rallied 327.38 points or 1.27% to 26,154.74.
The S&P 500 had jumped 1.18% to some,166.96.
The Nasdaq had surged 1.75% to 10,386.08.
The economic system wants all its pistons firing to construct a world recession within the rearview assume. Novel evidence suggests the sphere’s three major economic powers – the United States, the European Union, and China – are all rising from the pandemic depart.
In the United States, labor market files has bolstered sentiment. Monday’s ISM non-manufacturing figure injected unprecedented extra optimism into files-driven investing forecasts.
ING: ISM Recordsdata Might maybe well just Not Be as Win as It Looks to be like
ISM files paints a apparently spectacular rebound, however economists divulge it’s not that easy. | Source:Reveal ING
Unfortunately, the U.S. files might maybe just not be reasonably as rosy because it looks. ING economist James Knightley outlined his reservations in a myth this morning.
A captivating rebound within the ISM alternate surveys is one other obvious vogue, however be aware the series don’t convey us something else about magnitude. All we are in a position to reasonably divulge is that a majority of companies are now experiencing an enlargement after a torrid few months. The employment substances originate remain a difficulty even though…
When the baseline number gets horrifying ample – as ISM sentiment did for the period of the economic lockdown – the bounces overview exaggerated from a statistical level of inspect.
Even supposing this creates a layer of uncertainty for economists, it doesn’t appear to subject in a stock market wherebulls manage to search out the silver liningin every myth.
Dow 30: Tech Shines as Apple Soars; Rising Yields Rob Financials
On a shiny day for the Dow 30, $1.6 trillion heavyweight Apple raced to a 52-week high. AAPL jumped bigger than 2.4% as the tech sector boomed, lifting the Nasdaq to an all-time high of its dangle.
Apple has replaced Boeing as the Dow’s most heavily weighted stock, so the knowledge that it hadramped up its iPhone manufacturing plansexerted an outsized cease on the DJIA.
Goldman Sachs used to be the head-performing stock within the index, roaring 4.7% increased whileTreasury yields rose. Fellow financial institution stock JPMorgan Run managed a less spectacular 2% acquire.
The handiest DJIA component meaningfully within the purple used to be Walmart, which misplaced spherical 0.6% as the grocery and retail huge gave plan to increased growth investments. Home Depot, Pfizer, and Intel flirted with minor declines.
The European Union is preparing a new cryptocurrency regime that could include stricter requirements for “global stablecoin” projects such as Libra.
The bloc’s lead economics minister, Valdis Dombrovskis – or to give him his full title, the European Union’s Executive Vice President of the European Commission for An Economy that Works for People – said Europe had to seize the opportunity to become one of the main rule-makers for digital finance.
“This is a good chance for Europe to strengthen its international standing and to become a global standard-setter, with European companies leading new technologies for digital finance,” he said during a speech at the Digital Finance Outreach 2020 earlier this week.
And the first test case, Dombrovskis said, would be cryptocurrencies.
Although some cryptos, such as security tokens, are pretty well covered by European law, whole bundles of them, most notably stablecoins, remain entirely unregulated.
“Lack of legal certainty is often cited as the main barrier to developing a sound crypto-asset market in the EU,” Dombrovskis said.
Some EU members have taken matters into their own hands, which damages market integration and makes it difficult for companies to operate across the whole trading bloc.
A new regulatory regime for cryptocurrency will not only cover unregulated digital assets, but it will also consolidate and homogenize existing standards across the continent, Dombrovskis said.
Set to be unveiled later this year, Dombrovskis, who was formerly the prime minister of Latvia, didn’t give much away on what the future regime might look like, although he emphasized that it would support and stimulate innovation.
A pilot scheme would allow regulators to provide a space for new experimental solutions to be monitored and observed, he said.
While Dombrovskis’ speech contained few specifics, he did say that the EU was particularly keen to bring stricter rules on any project deemed to be a “global stablecoin.”
What exactly Dombrovskis means by “global stablecoin” isn’t immediately clear. However, it appears one of the key components is that it’s used instead of traditional fiat currencies and can facilitate a greater number of transactions that cross national borders.
That might be an inference to initiatives such as Facebooks’ Libra. Stablecoins, possibly like Libra, that operate on a global scale can “raise additional challenges,” Dombrovskis said – they can disrupt financial and monetary stability.
“Overall, our approach will be proportionate and relate to the level of risk. That means lighter rules for less risky projects,” Dombrovskis concluded. In the case of global stablecoins, such as Libra, “their potentially systemic role [means] our rules will be stronger.”
Disclosure
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