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Forbes called 3 signs of the upcoming bull market of bitcoin and all cryptoindustry

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Speaking of bull signals for Bitcoin , there is a view of the rest of the cryptocurrency market, since the main and very first coin is an important catalyst and driving force for the entire ecosystem as a whole, which Forbes writes about, describing three bull signs that, in aggregate give greater confidence in the sustainability of the upcoming rally.

The first sign is the universal growth of cryptocurrency , and not the flow of money from one coin to another, where over the past week only 7 coins out of 100 showed negative dynamics, where BTC grew by almost 10%, ETH by 20%, LTC by 17%, EOS – by 37%, etc.

“It is interesting that the momentum of the recent growth of Bitcoin seems to have been associated with fiat and stable coins to a greater degree than with other cryptocurrencies. This transition from fiat currencies shows at least some agreement that BTC costs are better in the long term than in traditional currencies , ”says Michael Noel, CEO of Blockchain Consultants.

The second sign may be the increased interest of traditional financial companies to blockchain projects and, according to Noel, an example of such interest is the partnership between Mastercard and the startup Fintech Stellar, the project Western Union and Ripple (XRP) , and the introduction of two cryptocurrency NASDAQs.

In addition, Bitcoin recognition is growing among institutional investors, where almost every day we hear that a particular bank, fund or other financial structure invests in cryptocurrency infrastructure.

“I believe that Bitcoin is the trustee for the majority who want to have access to the cryptoactive class while these markets are developing ,” said Jeff Ramson, founder and CEO of PCG Advisory, Inc.

An example of this is the news last week that JP Morgan is introducing its own cryptocurrency and although, according to Ramson, this is not significant for the price of Bitcoin, in fact it gives the market additional confidence that still affects the price of BTC.

This kind of recognition to some extent guarantees the viability of the market and the main cryptocurrency in particular in the long term.

The third sign of a bullish rally and a prerequisite for further growth is the overcoming of $ 4,000 and $ 4,800 for bitcoin, which generally agrees with the opinion of other analysts.

For example, Mati Greenspan from eToro, said that the key psychological and technical resistance to changing the bearish trend, is at around $ 5000.

Publication date 23.02.2019
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Wells Fargo will launch stablecoin for internal settlements

Wells Fargo & Company, an American financial company, will launch Wells Fargo Digital Cash, a pilot blockchain service for internal payments, based on Corda Enterprise. According to a press release, Wells Fargo Digital Cash will provide almost instant international transfers between company branches using digitized funds (tokens). The company has already tested the concept on transfers from the USA to Canada. The launch of the project is scheduled for 2020 […]

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Wells Fargo & Company, an American financial company, will launch Wells Fargo Digital Cash, a pilot blockchain service for internal payments, based on Corda Enterprise.

According to a press release , Wells Fargo Digital Cash will provide almost instant international transfers between company branches using digitized funds (tokens).

The company has already tested the concept on transfers from the USA to Canada.

The launch of the project is scheduled for 2020. Wells Fargo Digital Cash will initially provide dollar payments, but then add support for other currencies.

Recall that previously the largest US financial holding company JPMorgan developed its own stablecoin JPMCoin for making international payments to large customers.

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Wells Fargo is going to present its own stablecoin in 2020

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Wells Fargo, the fourth largest bank in the US, plans to introduce its own stablecoin in 2020, which will be used in cross-border transfers.

The press release said that the new Wells Fargo platform will create an international payment network based on distributed ledger technology. With the help of this system, as well as the Wells Fargo Digital Cash asset, payments will be made. The stablecoin being developed will be pegged to the US dollar. Initially, the network will be used for internal calculations, after which it will be integrated with other applications.

Lisa Fraser, representative of Wells Fagro, noted that DLT technology has many options for use, the company believes that it can also be successfully applied in banking. In addition, Wells Fargo Digital Cash is expected to enable the company to overcome barriers that still hindered effective cross-border payments in real time.

As you can see Wells Fargo followed the example of the bank JPMorgan Chase, which also introduced its own digital currency. It is noteworthy that back in July, Wells Fargo forbade customers to use credit cards to purchase cryptocurrency and its use in transactions.

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In the Bitcoin blockchain, a record of the network hashrate and the share of SegWit transactions

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is set

The volume of computing power in the Bitcoin blockchain this Monday reached a record value above 104 quintillion per second, according to Smartbit portal data.

The record was fixed after approaching the level of 100 EH / s last week and the subsequent small rollback. Before the current growth period, which began in December and accelerated in June, the previous maximum was fixed at 60 EH / s in October 2018.

As noted earlier, over the past three months , about 600,000 new ASIC miners have joined the Bitcoin network, which has led to a rapid increase in the hash rate .

Last week, another message appeared that the authorities of one of the provinces of China are taking measures to close mining enterprises on their territory.

Also today, transactionfee portal announced another record – the share of transactions in the Bitcoin blockchain using Segregated Witness (SegWit) technology for the first time exceeded 50%.

On the main Bitcoin network, SegWit was activated on August 24, 2017. The technology is aimed at solving the problems of blockchain scalability, transaction plasticity, and also allows you to implement other optimizations. After the jump to 38% last May, the spread of SegWit slowed down and until recently ranged from 40-45%.

Casa Bitcoin developer and CTO Jameson Lopp previously spoke of the proliferation of technology that responded to the congestion of the cryptocurrency network:

"Reducing the demand for transactions, improving algorithms for calculating commissions, distributing SegWit and grouping transactions have led to more efficient use of space in blocks and reduced competition for this scarce resource."

At the same time, the price of the leading cryptocurrency , having shown a steady rise in the first half of the year, has remained in a fairly narrow range over the past months and amounts to about $ 10,000.

Publication date 09/17/2019
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Name Price24H (%)
Bitcoin (BTC)
$10,200.78
-0.23%
Ethereum (ETH)
$211.84
7.54%
XRP (XRP)
$0.300753
15.53%
Bitcoin Cash (BCH)
$323.10
5.40%
EOS (EOS)
$4.09
1.25%
Stellar (XLM)
$0.065067
11.30%
Litecoin (LTC)
$75.50
4.23%
Cardano (ADA)
$0.050737
7.78%
Tether (USDT)
$1.00
-0.16%
Monero (XMR)
$74.45
-0.62%
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