The first digital currency traded in a narrow range for a long time, and over the last week not only showed a sharp decline, but also reached annual minimums. At this cost, Bitcoin is 4,666 US dollars.
It is expected that many investors were panicked and began to withdraw their savings in a hurry. But do not forget the already proven fact that the cryptocurrency market is manipulated. This is understood by those traders who have dealt with the nuances of the cryptocurrency market and, in particular, with blockchain technology.
Many experts are confident that such a bearish trend will relieve the market of newcomers, leaving only pioneers who are not so easily influenced. Anthony Pompiano, who is the founder of the venture capital firm Morgan Creek, said:
The current situation on the market will lead to the fact that many cryptocurrency funds, as well as ICO-startups just shut down. But this situation is quite normal, because a long bearish trend will clear the market of so-called "tourists", leaving only real entrepreneurs who will create sustainable value.
But when will this bear market end? What events can be a catalyst for digital asset growth? To do this, you need to study the most current news in the field of blockchain, because significant events always affect the value of assets.
The first thing you need to pay attention to is the launch of the Bakkt cryptocurrency platform, which will be held on 12/12/2018.
Krypto experts are confident that the Bakkt Exchange will be a global breakthrough in the world of digital assets, because it will provide Bitcoin futures trading with physical delivery, without margin services.
Audit Tether (USDT)
Recently, the company Tether Limited published the results of an audit that showed the degree of security of the foundation of their digital asset USDT.
“Bitcoin is property”
That is how the first currency was designated by the Shenzhen Court of Arbitration. Officially, Bitcoin trading is banned in China, but this asset is considered and protected as “property”. This fact clearly indicates the interest of China in the cryptocurrency market. Perhaps next year, the authorities will react even more loyally to digital assets and lift the ban on trading.
Temasek holding invests in the Binance cryptocurrency exchange
The Singapore government, through its investment company Temasek, invested in the well-known cryptocurrency exchange Binance.
Stablecoin USDC at Coinbase
A stable USDC coin has been added to the Coinbase cryptocurrency exchange with the support of Goldman Sachs. It should be noted that this stablecoin was most actively traded on the Poloniex exchange, which was acquired by Circle in February 2018.
The conclusion suggests itself that it is clearly for some reason that some of the most influential bankers in the world have created their own consistently coin, as well as the leading cryptocurrency exchanges.
Launch of EOSfinex and TON platforms
The launch of the EOSfinex and TON platforms is scheduled for the end of 2018. Of course, such events should occur at a favorable time. But experts are confident that large developers themselves create the right moments. Therefore, it is possible that the market situation will change closer to the launch of projects.
Considering all the above-mentioned events, we can say that digital assets have a real chance to grow by the end of this year. Profitgid will monitor the situation and keep you updated on the latest developments in the cryptocurrency market!
Leave your comments below!