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Why is the Bitcoin rate growing? 10 factors stimulating a bullish trend on a cryptobank

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It seems that May 2019 for the cryptocurrency market started well. The rise in prices for Bitcoin (BTC) was noted at 48% per month, its dominance reached the level of December 2017 (almost 60%). In general, analysts are very positive about the cryptocurrency market.

There are at least 10 possible reasons that explain this bullish trend and can tell why bitcoin (BTC) is growing so fast. Despite the rise and rebounds of recent weeks, the number one cryptocurrency in the world does not seem to plan to stop.

Altcoins are losing ground in favor of Bitcoin (BTC) , which does not respond to a decline in response to problems with Bitfinex, Binance hacking and the fears of small investors.

Fidelity Investments has prepared assets of $ 2.4 trillion for Bitcoin trading (BTC)

A few days ago, the news was published , according to which the Boston company Fidelity Investments, which provides financial services, is ready to offer a platform for over-the-counter Bitcoin trading (BTC).

In this case, this is not about retail investors, but about institutional ones, aimed at entering the crypto sector and able to change the price of Bitcoin (BTC) and other cryptocurrencies.

Currently we are talking about adding only Bitcoins (BTC) to the platform, and not about ethereum (ETH), however in the future other cryptocurrencies may be added to the trading platform. This is one of the obvious reasons why bitcoin (BTC) is growing so powerfully.

Hulving Bitcoin (BTC)

We should not forget about reducing the remuneration for a bitcoin block by half , during which the number of bitcoins (BTC), “created” and earned by miners , will be halved. At the time Bitcoin was created (BTC) in 2009, miners received 50 BTC as compensation for block confirmation.

In 2012, this number was reduced by half to 25 BTC, in 2016 – another two times to 12.5.

Bitcoin graph (BTC) shows its value in relation to the previous halving. On the right is a scale that reflects the color depending on how many months are left until the next double reduction in remuneration.

It is easy to see that in the months preceding this phenomenon, there was always a bullish trend, which led to a noticeable increase in the price of BTC.

The presence of FOMO, which requires caution.

The term FOMO (fear of missing) means the fear of missing a good opportunity. In connection with the sudden May increase in the cost of bitcoin (BTC), many wonder if they have missed the opportunity to “jump into the departing train”.

However, many investors open positions, as evidenced by the increase in volume recorded in the last period. Compared to three weeks earlier, it almost tripled:

When prices in the market rise or fall sharply, which is typical of cryptocurrency, investors act under any circumstances. In the case of the growth of the main cryptocurrency, of course, the excitement among speculators and traders was huge.

To date, Bitcoin (BTC) has crossed the $ 8,000 level, with many analysts convinced that the rise will continue. This move will cause even more FOMO among users who will start thinking about whether to buy an asset at the current price.

Those who managed to enter the market a few weeks ago have already made a profit; those who have not done so should evaluate whether it is really worth it. Cryptocurrencies are extremely volatile, so losses can be very serious.

Technical analysis of the cryptocurrency market is positive

Regardless of whether or not to believe in fundamental and technical analysis , there are several aspects to consider. Thomas Lee, an analyst at Fundstrat Global Advisors, expressed his opinion, saying that BTC will be the main growth hero in 2020.

He added that there are several indicators that show that a new price record is very likely. He also noted that his company Fundstrat has collected 11 signals that can explain this bullish trend. In addition, the company believes that the bear market in 2018 is over.

Digital currencies become mainstream

Fidelity Investments will soon begin to engage in over-the-counter Bitcoin trading , in December of last year TD Ameritrade introduced futures on BTC, and eTrade is preparing to enable Bitcoin trading on its platform.

Rumor has it that eBay may start accepting cryptocurrencies as a payment method, and Bakkt began testing bitcoin futures with launch plans in July.

Smaller services each day introduce cryptocurrencies as a means of payment, which indicates a slow but steady acceptance.

FUD does not affect cryptophone

FUD means fear, insecurity, doubt, in this case it is about the fact that someone is trying to convince other people to sell cryptocurrency, without giving sufficient justification.

The main discussions of the last weeks were mainly related to market prices, however there were other important events that need to be considered.

Along with a total ban, governments of some countries are studying the topic of Bitcoin (BTC) and cryptocurrencies, while regulators are still working to make a decision.

The Bakkt project has not yet been launched, but yesterday's news of the start in July is encouraging. Bitcoin (BTC) is not falling, despite attempts to underestimate its utility and core technology. For many crypto enthusiasts this is a good sign, they believe that the market has become more mature and the worst is over.

What happens to altcoins and why is BTC dominating?

A study conducted by BitMex and published on May 13 shows how the ICO market (the initial supply of coins) collapsed more than 97% in just one year, showing a poor return on investment (return on investment).

This means that the Altcoins could not impress the crypto community with their modest achievements.

“The ICO experiment is over. Virtually no one has created a useful and original product. Even Ethereum, which I like as a scientific experiment, did not meet expectations and is about to pass a dangerous phase, during which an untested experimental consensus algorithm will be created.

People understand that Bitcoin is a much bigger idea than all the “fabulous” blockchains that have attracted finance over the past two years , ”one Reddit user rightly noted.

Despite the fact that currently the dominance of Bitcoin exceeds 60%, we can not say that the Altcoins are dead, not to mention the fact that they all failed. Suffice it to recall the successes of the BNB token in less than 10 months.

Bitcoin and Bitfinex: new tools appeared

Some users believe that the increase in prices for BTC may be indirectly caused by the scandal with the Bitfinex exchange cryptocurrency. New York Attorney General James Laetitia recently accused Bitfinex of using $ 700 million from Tether to cover a shortfall of $ 850 million.

Here are some of the most popular comments on the Internet:

"I think Bitcoin will grow, because in the situation with Bitfinex … they will most likely have many problems with processing withdrawal requests."

“I think many people buy bitcoin, leaving Tether. If something goes wrong with Bitfinex, there will be a real crash. ”

It is possible that many have moved from Tether to BTC, although Bitfinex's positions are still strong, since in 10 days the platform managed to attract $ 1 billion.

Hacking Binance has not brought down the price of cryptocurrency number 1

On May 8, 2019, the Binance cryptocurrency exchange was hacked , losing about 7,000 bitcoins (at that time $ 40 million).

After that, within half an hour, Bitcoin lost 3.2%, the rest of the market also reacted negatively and first of all to BNB tokens. But after a while, the bull trend reappeared.

Experienced traders took advantage of this decline to return to the game, because then the market lost about $ 5 billion. Binance blocked the withdrawal of funds and deposits (they will be available today), but even this news could not seriously affect the price of cryptocurrency.

Consensus and SEC Solution

The Consensus conference, a global event that brings together the world's leading experts in the field of blockchain and cryptocurrencies, is taking place in New York. This is the time for important announcements and news that can bring even more positive.

Currently, attention is focused on the SEC. It is known that the Commission has repeatedly postponed a decision on a Bitcoin ETF , soon all legal deadlines will be exhausted.

Publication date 15/05/2019
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Huobi Token overview: HT cryptocurrency features, where to buy and how to store tokens?

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Recently, the issue of own coins has become a very fashionable trend among cryptocurrency exchange exchanges . The exchanges use this method in order to expand the user base and attract more investments.

One of the largest marketplaces in the cryptocurrency market, the Huobi exchange , was no exception and also actively promotes its internal coin Huobi Token (HT). What advantages are the owners of cryptocurrency Huobi Token, we consider later in the article.

What is the cryptocurrency Huobi Token? History of creation

Prerequisites for the creation of cryptocurrency Huobi Token served as a ban on cryptoindustry in China in 2017. It was then that the management of the Huobi corporation had to take urgent measures to rehabilitate the business.

Due to the introduction of regulatory changes, the largest cryptocurrency exchange at that time, Huobi, whose main office was in Beijing, was discontinued. But after only a few months, the Huobi team moved its business to Singapore and launched a new project – Huobi Pro.

If the initial version of the Huobi Exchange was mostly aimed at users of China, then Huobi Pro headed for the international market. Huobi Pro uses the over-the-counter trading model (OTC) and has concentrated in itself all the necessary options for global traders. Despite this, the new project of Huobi Corporation did not show the volumes that the management expected. Trading volumes on Huobi Pro accounted for only 4-5% of the volume of the exchange before closing the business in China.

The “lifeline” in this situation was the decision of the leadership to launch its own cryptocurrency . This initiative was not aimed at creating a new asset for investment, but for the internal needs of the exchange — attracting new traders, increasing the loyalty of existing users, and also returning the exchange's leading positions in the ratings .

The launch of a new cryptocurrency did not follow the standard ICO scheme, which most projects use for the initial launch of coins. At the beginning of 2018, the exchange began to spread the internal cryptocurrency Huobi Token among the VIP users of the exchange. Traders were offered to buy a premium package of services that included a certain number of HT tokens. Becoming an HT holder, traders could use coins to pay commissions and other internal payments. This method of distributing coins was called the initial exchange offer (IEO).

In the first 2 weeks after launch, 60% of the total supply of coins, which amounted to 300 million tokens, shattered among the users of the exchange. The remaining 40% (200 million coins) were reserved by the company for life support of the platform.

The Huobi team also announced the parallel creation of the Huobi Investor Protection Fund (HIPF). In order to contain token inflation, Huobi Pro conducts quarterly repurchase of coins using 20% of its net profit. All collected funds are accumulated on a separate Ethereum wallet and are stored to compensate for any losses that may arise from users in the process of working with the platform.

To ensure the transparency of its activities, the company has opened access to viewing the balance of the HIPF wallet for everyone. Thus, Huobi tried to suppress the cryptocurrency volatility and create the most stable token.

The release of its own cryptocurrency helped to increase the capitalization of the platform and increase the level of customer retention by providing them with exclusive working conditions on the exchange. According to the company's management, the internal token of the exchange was to become a single link between the users of the exchange branches in South Korea, the USA, Australia, Canada and other countries.

The initiatives undertaken have really borne fruit and now the Huobi Exchange is ranked second in the rating of cryptocurrency exchanges according to CoinMarketCap.

By the way, for Huobi there is a large team of very competent developers and marketing specialists. Led by Leon Lee, a former Oracle programmer, the Huobi team has raised the project for the second time and raised it to the top.

Key features of HT tokens

The cryptocurrency Huobi Token is released on the Ethereum blockchain and complies with the ERC-20 standard. To a greater extent, the internal cryptocurrency of the exchange is a loyalty program for traders, so consider what advantages its holders receive.

Reduced transaction fees

The exchange system provides for discounts, which apply exclusively to customers with VIP-status. VIP client status is offered to Exchange users to purchase for the Huobi Token cryptocurrency. The discount depends on the level of your VIP-package, while the owner of the package with the highest VIP-level receives a 50% discount on all transactions that are made during the period of the service package.

The service package has no expiration date. All privileges you receive as long as you pay for a package subscription. This advantage is widely used by large investors and traders with large trading volumes, who through the use of VIP-status can save huge amounts of money on commissions.

Convenient exchange tool

HT makes a trading pair with the most popular cryptocurrencies, so this token is very convenient to use as a medium of exchange for the main cryptocurrencies. The most popular among traders are HT trading pairs with cryptocurrency Tether, Bitcoin and Ethereum.

Promotion of new tokens

HT owners always receive bonus coins from each listing of new cryptoactive assets on Huobi Pro.

Investor Protection Program

Due to the existence of the HIPF fund, all HT holders are insured against financial losses related to the instability of the cryptocurrency market, fraudulent activities or other losses related to the activities of the exchange.

Decision making

HT owners have a preferential right to participate in various surveys and polls related to the life and development of the Huobi Pro exchange. Voting may relate to the inclusion of a new cryptocurrency in the listing of the exchange or other issues related to the development of the ecosystem of the project.

Where to buy and how to store Huobi Token?

The easiest way to get HT coins is to buy them on the Huobi native exchange. You can buy Huobi Token for BTC, BTH, ETH, ETC, LTC and USDT. In addition, the coins are presented on the trading platforms of HitBTC, Bibox, BitMax, Gate.io, Yobit, LBank, etc.

For storage of HT, Huobi Corporation offers users the own development of Huobi Wallet. This is a multi-currency cryptocell , which can be used to store more than 1000 digital coins, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash and other cryptocurrencies.

Huobi Wallet has mobile versions for Android and IOS devices. This is a convenient and secure wallet, where users have full control over their assets through personal security key management.

The application has a simple and stylish design. At the same time, users can manage their own account by adding new digital assets as needed.

In addition to a separate application, Huobi Wallet, you can also use the coin storage function on the Huobi exchange. The exchange offers “cold” wallets and protects the assets of its users with the help of two-factor authentication and an anti-DDoS complex.

From third-party applications for storing HT coins, you can use any wallet that supports ERC20 tokens. Among them are Jaxx, Exodus, MetaMask and others. And, of course, the well-known hardware wallets Ledger and Trezor can always help.

It is important to note that by choosing third-party wallets for storing their coins, users are automatically deprived of the right to receive privileges from using the Huobi Token cryptocurrency. Therefore, it is still preferable to use official Huobi applications for storing coins.

Course and Capitalization HT Token

Cryptocurrency Huobi Token started trading on exchanges with a rate of $ 1.49 at the beginning of February 2018. At first, the price of Huobi Token kept at about the same level and did not exceed $ 2.

The most noticeable jump in the HT price was at the beginning of the summer of 2018. After just 4 months, the level of popularity of the coins took off, which in turn affected the rate. At the beginning of June 2018, the HT rate reached its maximum and amounted to $ 6.10 for 1 token.

The dynamics of the course Huobi Token :

As of July 2019, the price of Huobi Token cryptocurrency is $ 4.18, and the project's market capitalization exceeds $ 208 million. Huobi Token's cryptocurrency is ranked 36th in the rating of cryptocurrency by the level of capitalization according to Coinmarketcap.com . At the same time, the average daily trading volume is close to $ 110 million, and this is still a pretty good indicator for cryptocurrency, which is just over a year on the market.

As can be seen from the graph above, at the current moment, the HT rate starts to rise slowly, so from the point of view of investing, the token becomes relevant again. The recent launch of a new product from the developers of Huobi Corporation – a platform for IEO called Huobi Prime, as well as parallel tokenale coins of the Top Network (TOP) – has sparked interest in cryptocurrency.

Despite the fact that the main purpose of HT – the use of traders for intramarket payments, the investment attractiveness of the cryptocurrency Huobi Token is also at a sufficient level. Most often, coins become an object for short-term investments, in particular, the activity of investors increases during the periods before the redemption of coins for the HIPF Fund.

Huobi Corporation does not stand still and regularly launches new products for its customers, thereby keeping users' interest in HT coins. In fact, HT is the embodiment of the success of the exchange, so while we are seeing a growth in capitalization and the development of Huobi, HT will also grow steadily.

Publication date 07/20/2019
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How is the Bitcoin rate and capitalization associated with Tether (USDT) steblcoin emissions?

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Rumors about the relationship between the price of Bitcoin and Tether (USDT) have been around for a long time, but how true they are, you can only speculate. The total number of tokens in Tether’s turnover at the moment is about $ 200 million, in preparation for reaching $ 4 billion.

When Tether’s market capitalization reached a new high of $ 4 billion, Bitcoin stopped falling and began to grow again. Conjuncture? Maybe, maybe not.

However, it is obvious that Tether released 50 million just at the moment when Bitcoin finished making its way out of the rising wedge model.

Guess what happened next? Hint: Bitcoin unfolds and adds 12% per hour.

Bitcoin has always grown in value with the new issue of USDT. On July 8, the price of BTC increased significantly after 100 million tokens were issued. The July 9 reversal was eliminated when Tether printed another 100 million USDT.

The same effect was observed on July 14th. However, an even more interesting observation could be made when Tether “mistakenly” released 5 billion USDT.

On this occasion, Bitfinex technical director Paolo Ardoino tweeted:

“When preparing a swap from Omni to Tron, there was a problem with the decimal numbers of the token. Token burning operations can be viewed below. ”

The resulting 5 billion USDT errors were burned in two stages: first 4.5 billion and another 500 million. Poloniex confirmed this information.

Nevertheless, the effect of this event affected the price of Bitcoin, since in less than 3 hours it fell by 8%, and over the next day it continued to drop by an additional 11%, which contributed to a decrease in the BTC price from $ 10,600 to $ 9 100.

This finally brings us to yesterday's 50 million USDT, as a result of the emission of which the price of bitcoin made a 180 ° turn and began to rise.

In addition, Tether is the main platform for bitcoins and other major cryptocurrencies . As can be seen from the graph below, approximately 3.56 billion of all USDT are directly sent to bitcoins, which is more than enough to control the price of the king of cryptocurrencies.

Thus, the observation of the influence of Tether on Bitcoin from July 8 to July 19 showed a direct relationship.

Publication date 07/20/2019
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Apple co-founder Steve Wozniak invested in the Maltese blockchain company

Stephen Wozniak acted as an investor in the Maltese blockchain-company EFFORCE, which is creating solutions aimed at the efficient use of energy resources. At the same time, he joined the EFFORCE co-founders, reports Malta Independent. Wozniak made a statement at the Delta Summit conference, which will be held in Malta for the second time in October. According to the source […]

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Stephen Wozniak acted as an investor in the Maltese blockchain-company EFFORCE, which is creating solutions aimed at the efficient use of energy resources. At the same time, he joined the EFFORCE co-founders, reports Malta Independent .

Wozniak made a statement at the Delta Summit conference, which will be held in Malta for the second time in October.

According to the entrepreneur who stood at the origins of Apple, energy efficiency has always been of great importance to him and that the blockchain will help reduce the consumption of energy resources without forcing people to abandon their usual ways of life.

Speaking about the EFFORCE company itself, Wozniak said that it offers a unique business model, part of which is an investment methodology offering new opportunities for entrepreneurs.

He also added that he had long wanted to invest in Malta, noting a positive environment for the development of new technologies, which was created by local authorities.

As stated on LinkedIn's EFFORCE page, the company offers a blockchain platform for investment in energy-efficient solutions, stating its intention to become “the world's first and foremost platform for tokenized energy-saving sources”.

Recall that last year it was reported that Steve Wozniak was related to the investment platform EQUI Capital, founded by the Scottish baroness Michelle Mont and businessman Doug Barrowmen. The company was going to raise $ 80 million through ICO, but failed to realize its plans.

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Name Price24H (%)
Bitcoin (BTC)
$10,698.00
1.66%
Ethereum (ETH)
$226.60
0.77%
XRP (XRP)
$0.331012
1.83%
Bitcoin Cash (BCH)
$326.37
5.21%
EOS (EOS)
$4.28
4.40%
Stellar (XLM)
$0.092945
1.26%
Litecoin (LTC)
$99.82
1.19%
Cardano (ADA)
$0.062810
2.65%
Tether (USDT)
$1.00
-0.02%
Monero (XMR)
$85.28
3.68%
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