Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Surge of Interest in Bitcoin (BTC) Halving Could Boost Crypto Market at Large: eToro Analyst Simon Peters

by Powered by eToro
April 23, 2020
in Explore

OUR STORY                 DISCOVER CRYPTOCURRENCIES                  NEWS AND UPDATES
China’s cryptocurrency currently the first, but fears remain

There was a biggie last week with the leaking of China’s much anticipated central bank digital currency (CBDC). The leak revealed extensive details of how the accompanying app works, a look at the visuals of the wallet, and a preview of what the currency would look like for the general public.

A digital coin from China has been much talked about, so this tease is exciting news as central banks launching digital currencies would help increase the widespread adoption of cryptoassets, which in turn would show people the benefits that cryptoassets can bring to the real world.

Clearly China is on the hunt for supremacy in cryptoassets, as well as looking to usurp the US dollar as the world’s dominant currency. Tie China’s digital currency with its intention to launch the Blockchain-based Service Network, which will help companies deploy blockchain technology in a smarter and more efficient manner, and there is no doubt the country with the world’s second biggest economy is looking to take the blockchain bull by the horns.

However, for those of us who appreciate the decentralized nature of cryptoassets, there is a fear that having the world’s most authoritarian superpower launching its own highly centralized digital currency could actually lead to more surveillance of its population. Blockchain technology enables you to track transactions and for this reason, it will be harder for people to maintain privacy. Some people are unbanked for exactly this reason.

Facebook new approach could go well with the regulator – but not with the community

Mark Zuckerberg’s social media mastodon outlined the new direction of its heavily debated Libra project. The paper published by the Libra Association makes three key changes: Libra will be permissioned at first; it will only be stablecoins; and it will use regulated nodes (VASPS). The crypto community could in fact fully disregard the Libra project, highlighting these three changes as the foundation ditching its decentralized ethos.

I think these are positive changes though, as it is important for projects from companies as large as Facebook to take a regulated approach, a view eToro CEO Yoni Assia discussed in eToro’s position paper on the matter, published last November. Overall, it is important that firms looking to launch these sorts of cryptoasset ecosystems take their first step by supporting multiple currencies on-chain. Only then, once they have the trust of both the regulator and of the consumer, should they look to launch novel crypto tokens.

Bitcoin halving sparks search interest – and winners could span the whole sector

Ahead of the Bitcoin halving we have seen a massive increase in interest in the event. Google Trends, which tracks increases in the frequency and popularity of specific search phrases, shows that ‘Bitcoin halving’ is currently at 100% interest, which means it is at the peak of its popularity, garnering 28% more interest for the search term compared to the 2016 halving.

I’ve already talked about where I think the price of Bitcoin is heading following May’s halving, and it is well-documented that other cryptoassets follow the performance of Bitcoin, to a greater or lesser degree. However, there are some cryptoassets that could even outperform the original crypto. One of these is Ethereum. Given that there are various DeFi applications being built on Ethereum that use Bitcoin as collateral or as a means of bringing liquidity to decentralized exchanges, the overall Ethereum network would grow and develop, if Bitcoin prices increase following the halving, and we see greater Bitcoin inflows into these applications.

Other winners from the halving could be application specific integrated circuits (ASICs) manufacturers, such as NYSE-listed Canaan. With the mining reward being cut in half, miners will have to operate more efficiently, placing an emphasis on having the most up to date ASICs.

UBI-based cryptos could be the vaccine for wealth inequality

Many countries are beginning to release data showing some positive signs with regards to controlling the coronavirus’s impact. Some of the world is also beginning to discuss how we solve some of the ills that the coronavirus has laid bare when it comes to wealth inequality.

With central banks now adopting helicopter money policies to directly put wealth into citizens’ pockets, the use of blockchain technology could help solve some of the logistical issues that come with such a grand scheme. This becomes increasingly important when we think about the vast number of people across the globe that do not have  a bank account to receive such capital. By giving everyone a crypto wallet, central banks could directly deposit this money into them. It also removes the need for people to jump through the regular bureaucratic hoops of opening a bank account.

GoodDollar itself is a research hub, funded by eToro, exploring how universal basic income (UBI) principles could be deployed through cryptoassets to address global wealth inequality. Theoretically, everyone can receive a GoodDollar token into a crypto wallet.

This is just one of the ways that blockchain and cryptocurrencies can help to build a better future, if we choose to use them. And we should.

Top cryptoassets traded on eToro last week (UK clients only)
  1. BTC – 41.6%
  2. XRP – 16.3%
  3. ETH – 12.3%
  4. BCH – 4.4%
  5. XTZ – 4.0%
  6. LTC – 3.6%
Top cryptoassets traded on eToro last week (all clients – global)
  1. BTC – 44.2%
  2. ETH – 14.7%
  3. XRP – 9.9%
  4. BCH – 4.9%
  5. XTZ – 4.6%
  6. LTC – 3.1%

Simon Peters, eToro market analyst

This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as a reliable indicator of future results.

All contents within this report are for informational purposes only and does not constitute financial advice. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilizing publicly-available information.

Crypto assets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.




Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

Submit a Press Release

Crypto Livewire – Press Releases

  • First Charity Project Using NFT: All Profits From Sales of Content Produced by Miss Bitcoin To Be Donated
    April 15, 2021
  • MakiSwap Raises $1.4M From Leading Investors to Build AMM Platform on Huobi Eco Chain
    April 14, 2021
  • DigitalBits To Become Premier Choice for NFTs After Litemint Partnership
    April 13, 2021
  • Ethernity Chain Launches Authenticated NFT Marketplace to Curtail Fraud
    April 13, 2021
  • ConsenSys-Backed Virtue Poker Raises $5 Million Strategic Round
    April 12, 2021
  • Cometh Partners With Alchemix for “Wizards” Collection of Yield-Generating NFTs
    April 9, 2021
  • eToro Appoints Dr. Hedva Ber, Israel’s Former Banking Supervisor, As Deputy CEO and Global COO
    April 8, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$61,583.00
$61,583.00
2.12%
Ethereum
$2,430.45
$2,430.45
1.64%
Binance Coin
$539.16
$539.16
1.5%
XRP
$1.68
$1.68
4.24%
Polkadot
$42.44
$42.44
0.26%
Cardano
$1.42
$1.42
1.16%

Spotlight

  • Bitcoin, Ethereum and Three Other Crypto Assets Are Massively Undervalued, Says Top Analyst
    April 10, 2021
  • NYSE Leaps Into NFT Mania With ‘First Trade’ of 6 Hot Tech Stocks
    April 14, 2021
  • Major Price Manipulation Incoming for Bitcoin and Ethereum, Says Crypto Trader Austin Arnold
    April 12, 2021
  • Billionaire Mark Cuban Believes Bitcoin Will Replace Gold on Massive Scale
    April 9, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl

×