December 22, 2019
A warm welcome to our weekly review CryptoMonday for KW 51.The year is coming to an end, but the crypto market has turned a lot – unfortunately not in the positive direction, at least for most altcoins.The Bitcoin price once again climbed a roller coaster and tore the ground under the feet of many altcoins.The price of Bitcoin briefly dropped by around 10% and fell to $ 6,450.
Then there was a decline to $ 7,350.
This not only wound up countless futures, but also sowed hope and fear at the same time.But of course, that’s not all.It was also a hot week this week: the main news included the billionaire giving Satoshis on Twitter, the white paper for the ECB’s cryptocurrency, the 6 biggest trends for 2020, the problems with Ethereum after the hard fork, the mention of Ripple and XRP in a document of the American government and of course Bitcoin Halving.
So let’s go ahead and take a look at the most important events of the week.As always, you can find our weekly review on our YouTube channel.Subscribe to our channel today to never miss a video again.
We offer different content with different topics throughout the week.There are certainly one or two exciting speeches for you.
Bitcoin and BTC prices in half
Bitcoin’s rate suddenly dropped nearly 10% earlier this week.There was no apparent reason at the time.
Many say that sales of the Plus Token Scam were responsible for the sharp decline, but there is no direct link here.Nevertheless, these sales certainly play an important role in the pressure on BTC prices.After the price of Bitcoin reached support at around $ 6,500, there was a strong reaction that pushed the BTC rate up to $ 7,350.The price of Bitcoin is currently still above the $ 7,000 mark.
We have already analyzed in more detail how the situation should currently be assessed on Tuesday in our TA on Tuesday.
But of course, this is just the short-term view of things.The long-awaited Bitcoin Halving takes place in just 144 days.In Bitcoin Halving, which takes place every 210,000 blocks (about 4 years), the rewards of miners are halved.As of this moment, only half of Bitcoin will be created each day compared to today.This automatically offers plenty of room for speculation.Mainly because the last cuts then triggered a Bitcoin Bullrun.
This is exactly why this event is so strongly discussed.Some believe that Bitcoin Halfving will be the savior, others assume that the price will drop even more.The fact is that the halving will have positive rather than negative effects on the price of Bitcoin in the long run.75% of private CFD accounts lose money.No protection for EU investors.Donate Bitcoin – Billionaire Distributes Satoshis on Twitter
One of the most interesting stories is probably that of Bill Pulpe this week.
The billionaire and heir to a real estate company regularly distributes money and goods to strangers via Twitter.What may sound like a cheap scam is real.
Bill describes himself as a philanthropist (philanthropist).Bill sees Bitcoin and cryptocurrencies as one of the ways to expand our freedom and distance ourselves from the arbitrariness of central banks.This is why he wants to help Bitcoin with massive adoption.He sees the only way to do it in donations (airdrops).For each comment under his article about the positive effects of Bitcoin, Bill Satoshis will rain.Here is the full article.ECB publishes white paper on its own cryptocurrency
A possible state cryptocurrency in Europe has long been discussed.China has already taken the first steps to launch its own cryptocurrency.
Other countries are already following suit.Now it’s also Europe’s turn.Of course, this is only the first version of the public white paper, but you can still see clearly where the trip will take place in the coming years.When the transition to the cashless era arrives, a centralized cryptocurrency offers even more control options than before.Therefore, stable state coins do not pose a threat to Bitcoin, as they pursue a completely different purpose.
In principle, the same wine flows as before, only from new bottles.
However, whatever the philosophical questions, the concept remains quite interesting.It also shows that blockchain can simplify certain processes.This strengthens the whole blockchain industry and shows what possibilities we suddenly have with programmable money.
If you want to dive a little deeper, you will find all the information in this article.
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Each of us has the desire to know what will happen in the future.As this will likely remain a wish forever, we can only look for evidence that shows us a certain trend for the future.As the year draws to a close, in collaboration with Accointing, we have analyzed the 6 biggest trends for 2020 and prepared them for you.
In short, the most important trends for 2020 are: halving bitcoin and the possible mining consolidation associated with it, Facebook’s stablecoin balance, the introduction of digital currencies by central banks, many altcoins will disappear and transparency across the entire crypto market will continue to increase.Blockchain is increasingly used in industry and, more recently, the great subject of decentralized finance (DeFi).A multitude of events and developments awaiting us next year! This is certainly only a fraction, but in our eyes the most important trends.You can find more details on the individual points in this article.
Peter Schiff and his Bitcoin problem child
Of course, Peter Schiff, who is known for his more than critical attitude towards Bitcoin, cannot be missed here.Of course, he sees no influence on the price of Bitcoin in the next half, because in his eyes, Bitcoin has no value.As a result, half is nothing, still nothing.It is quite fun to read such statements when Bitcoin has increased in value from year to year from the start.However, Peter Schiff has no choice but to cash Bitcoin again and again.No one expects a change of attitude here.In this article you will find more information about the recent interview with Peter Schiff.
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This week, things were also hot at Ethereum (ETH).After the hard fork in early December, more and more problems are emerging.The problem only really became public after Coin Floor, one of the UK’s largest bitcoin and crypto exchanges, announced that Ethereum will be removed from the stock market in January.The company cited the uncertainties that arise with the next updates as the reason.The mere fact that the update will take several years to cast doubt on the stock market’s CEO of Ethereum’s long-term success.
Smart contracts on ETH were also affected by the update.
The recalculation of gas prices in the network has caused problems with some smart contracts.Failures in enforcing smart contracts quadrupled soon after the Istanbul Hard Fork.
In addition, Ethereum also gets its fat from the developer side.A developer calls the current situation “Ice Age”.ETH node and service operators must install new updates every three weeks.Developers and the system must be motivated to progress in development and updates to a proof of participation system.The functionality continues to slow down the blocks in the blockchain, supposedly to force the community and developers to change their consensus.Here you will find all the information on the current situation at Ethereum.
Ripple breakthrough (XRP)? – Mentioned in a document of the American government
Finally, we come to a little icing on the cake, at least for all XRP investors.
Ripple and the associated XRP cryptocurrency were able to celebrate the success of the public by being mentioned in a document from a government agency.The two made headlines after cryptocurrency and blockchain technology was first mentioned in a U.S.
government publication.
The publication is a document entitled “Money Transfers Under the Electronic Money Transfer Act”.This document was published by the Consumer Financial Protection Bureau (CFPB), a consumer protection agency in the financial sector in the United States.In summary, this confirms that Ripple and XRP are revolutionizing the payment industry.More news of the week
Because this week has been full of hot and exciting news, we would like to give you another insight:
What were your personal cryptographic highlights this week? Chat with us in our Telegram chat!
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