Bitcoin is entering uncharted waters as it trades against a backdrop of global economic turbulence, and so far it has held up surprisingly well – posting year-to-date gains while the equities market continues trading well below where it started the year.
It now appears that the “perfect storm” for Bitcoin could be brewing, as two rapidly unfolding events could act as catalysts that spark both widespread adoption and accumulation – potentially bolstering the crypto in the months and years ahead.
These events come as the crypto is showing signs of underlying strength, signaling that an extension of its ongoing upswing could be imminent.
Bitcoin Sees Perfect Storm Form as Argument for “Hard Money” Grows Pertinent
Bitcoin’s deflationary and decentralized nature make it the archetypal form of so-called “hard money,” and its intense growth in the time following its genesis in 2009 shows that the world has recognized this.
In the past, the need for a decentralized digital asset like Bitcoin has always been theoretical, but the recent events seen throughout the past few months have made this need both relevant and all too real.
Per a recent report from Arcane Research, the actions undertaken by the Federal Reserve to curb the economic impacts of the Coronavirus pandemic have led its balance sheet to bloat.
“The Federal Reserve’s balance sheet is climbing to new highs this week, now surpassing $6.5 trillion… [it] expanded by another $205.2 billion in the past week, to $6.57 trillion. It has ballooned by $2.4 trillion, or 58%, since the end of February,” they noted.
Image Courtesy of Arcane Research
BTC the Antithesis of This Loose Monetary Policy
The massive growth of the Fed’s balance sheet is the result of monetary injections into the economy aimed at propping the markets. Although in the near-term this has been highly effective, the long-term implications could prove to be dire.
This shines a bright light on the need for forms of hard money and comes just weeks before Bitcoin sees its mining rewards halving event – which drops the crypto’s annual inflation rate by over 50%.
Arcane Research spoke about the timing of this event, explaining that it may attract a torrent of new investors into the cryptocurrency.
“While FED is printing money, Bitcoin has different plans with an upcoming halving in just three weeks. This will cut the yearly production in half, from 12.5BTC to 6.25BTC per block. This quantitative hardening may attract new investors to bitcoin, as ‘the money printer’ keeps running at full speed,” they said.
Couple this with the growing on-chain network activity and recent surge in accumulation rates amongst investors, and it seems probable that this “perfect storm” could give Bitcoin a serious boost.
Featured image from Unsplash. origin »
Bitcoin has done well in the last week with multiple rallies that have brought the digital asset’s price back to early November 2022 levels. However, while investor sentiment looks to have significantly recovered, not everyone is expecting BTC to continue to do well.
Bitcoin’s price saw a decent recovery following the BitMEX imbroglio yesterday, but the cryptocurrency’s reverted most of these gains overnight due to news of President Trump contracting the lethal virus This news sent shockwaves throughout the traditional markets as well, and appears to be having a trickledown effect on BTC as well as altcoins Where the aggregated crypto market trends in the days, weeks, and months ahead will likely depend largely on the global markets […]
Bitcoin price is up well over 60% year-to-date, and has recovered 200% from the Black Thursday low. The cryptocurrency broke free from downtrend resistance, and all signs point to a new uptrend well underway.
Bitcoin did not fare well in 2018. Over the course of that year, the cryptocurrency plunged by dozens of percent from prices well above $10,000 to as low as $3,150 by December, falling as a “Crypto Winter” formed.
Well, well, well… It looks like the father of crypto might be getting some of its edge back. After weeks of meandering through the $3,400 range, bitcoin is back up to $,3600, marking a $200 spike during a time when price swells were considered a thing of the past.
Also, start a PAC or something mate!” Mr. Petersen is a well known figure in liberty circles. His background includes producing Fox political shows, founding influential website , along with coming third in the race for the Libertarian Party’s presidential nomination in 2016.
Everyone is aware that 2017 was a year of huge highs for Bitcoin, with the cryptocurrency proving itself to be the most resilient. The form of spending hit a record high of $19,796 per coin last year, sending the world into overdrive about what Bitcoin actually is and how it’s performing so well (especially considering it’s still difficult to spend in the majority of stores).
The price actions of Bitcoin and Ethereum have failed to break out of their bearish trends this past month – and investors are preparing for lower support levels in the near future. Positive market conditions could likely lead to an influx of first-time investors as well as veterans adding to their positions at the bottom.
Mining firm and blockchain software service company Bitfury wants to expedite blockchain development for traditional enterprise and business. Working toward this goal, the company announced today that it’s introducing Java binding for its blockchain service, Exonum.
Hacken has launched a new website that provides an all-in-one tool for rating cryptocurrency exchanges. Crypto Exchange Ranks (CER) allows for side by side comparisons of well over a dozen exchanges, including real-time arbitrage data and ratings for liquidity, compliance, reliability, and security.
For more than a decade, Freedom Fest has been a top attraction on the conference circuit for those leaning toward freer markets. Through the years, it has grown to include speakers and topics well beyond economics.
Bitcoin Core version 0. 16. 1, a new major version including new features and performance improvements, has been officially released, according to an announcement made June 15. The new release reportedly includes “new features, various bugfixes and performance improvements, as well as updated translations.
It’s been a turbulent time for the cryptocurrency markets, so now is a good time to reflect on how and why we got here in the first place. First, an op ed makes the ideological case for Bitcoin.
Jeff Garzik first tuned the world into his latest venture in the fall of 2017. The Bloq co-founder unveiled Metronome (MET), a cryptocurrency he founded alongside Matthew Roszak, at the Las Vegas Money 20/20 conference in late October, and the project caught the attention of Bloomberg and Fortune at the time.
Bitcoin Price Key Highlights Bitcoin price recently made a move below a long-term floor but this might just be a fakeout. Remarks from a senior SEC official eased regulatory concerns in the industry somewhat.
All Cypherpunks value privacy; it’s basically the founding principle of the collective of cryptographers, academics, developers and activists grouped around the 1990s mailing list by the same name.
The Wall Street Journal has made a list of 25 technology firms to watch this year. It features a total of five different blockchain companies, as well those dedicated to researching cyber security and artificial intelligence.
U.S.-based crypto wallet and exchange Coinbase’s Index Fund is now open for large-scale investors, according to an official blog post published yesterday, June 13. The index includes Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), as well as Ethereum Classic (ETC), whose addition to Coinbase was announced on June 11. Coinbase’s blog post notes
In continuing our analysis of the Cryptocurrency Predictions for June 2018 report by Finder, we turn to the team’s predictions for Litecoin.
We have recently reported that by Finders calculations, Bitcoin will only just breach $14,000.
The continued censorship of cryptocurrency discussions on some of the larger sub-forums of Reddit has gotten to new levels recently. People are not only getting banned for any comment that might challenge the moderators’ enforced opinions in one forum, but complaints are also silenced in competing forums as well.
The shift has already started; finance is moving onto the blockchain, leveraging the decentralization and disintermediation benefits of the technology’s architecture.
Canada’s government has released draft regulations for “virtual currencies” with a consultation period of 90 days, saying that proposed regulatory changes could mean a loss of $60 million over 10 years for businesses that deal in cryptocurrencies but will improve Canada’s international reputation and make it easier for crypto businesses to deal overseas.
Crypto currency trading has expanded exponentially over the past 18 months. Most of the notoriety followed a surge in prices in December of 2017. Crypto currencies focus on different needs including payments, as well as smart contracts allowing developers and miners to create and market products.
Bitcoin Press Release: In order to create a solution that is versatile as well as scalable, ImmVRse has designed its server-side architecture on a hybrid model. Whilst Blockchain will be integrated in the securing of data on cloud storage, the media itself will be hosted on cloud platforms that provide the framework for operating Ethereum-based […]
The post ImmVRse is Aiming to Become the Leading VR Content Sharing Platform Within the Next Decade appeared first on Bitcoin PR Buzz.
A major shopping center based in Slovenia is widening a cryptocurrency payments pilot. Those include services for clothing and electronics as well as restaurants, Slovenian TV channel “24 Ur” reported on Monday.
In the previous BTC-USD market analysis, we discussed a macro pattern forming, called a “symmetrical triangle. ” A symmetrical triangle (shown in red) is a directionally agnostic consolidation pattern.
Well, we didn’t see this coming. Coinbase have announced their next listing, stunningly in the form of Ethereum Classic. As it stands, Coinbase only list Bitcoin, Bitcoin Cash, Litecoin and Ethereum, making Ethereum Classic the fifth to be added to the growing Coinbase portfolio.
Binance Coin (BNB) is currently up more than 5% against both US Dollar and Bitcoin (BTC) simultaneously. The cryptocurrency has been on a continued uptrend since mid March and eyes further gains now that it has broken out of the triangle it was trading in before.
Switzerland’s mortgage bank Hypothekarbank Lenzburg (Hypi) has announced that it will open business accounts for crypto companies. While cryptocurrency and blockchain technology have been widely accepted in Switzerland, the banks have not been as friendly.
Shopin — a universal shopper profile that delivers personal shopping experiences through retailers’ apps, websites and stores — says one of its token distributors has been hacked and roughly $10 million in a variety of cryptocurrencies has been stolen.
Bitcoin Press Release: The price of Bitcoin dramatically spiked in late 2017, making blockchain, the system behind it, a trending topic of 2018. The transformative powers of Blockchain go beyond the banking and FinTech sectors and can remake the food and supply chain system as well.
Venmo could be the ultimate cryptocurrency experience from a user-experience perspective. Any cryptocurrency that seeks to power the future of global transactions must ensure that it is supported by a payment system that is simple, user-friendly and free — like Venmo.
Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.
Bitcoin (BTC) is under significant pressure after experiencing a substantial 14% retrace from $65,103 to $55,602. This downturn is occurring amidst a climate of fear and uncertainty impacting both the cryptocurrency and US stock markets.
Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most […]
Data shows the Bitcoin Open Interest on exchanges has been heading up while the Funding Rate has turned negative recently. Bitcoin Open Interest Trend Suggests Speculators Are Back As pointed out by CryptoQuant community manager Maartunn in a new post on X, things appear to be heating up on the derivatives side of the market.
On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]
Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]
An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.
