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Bitcoin will remain the only dominant cryptocurrency, BTC Analysis

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Bitcoin in comparison to other cryptocurrencies in the market like Ethereum, ripple, and others, Bitcoin is quite more trustable from all of them

Bitcoin is around in the market since late 2008 but it only started making the news in early 2013. It is cryptocurrency and a payment system also; the main advantage is being that transactions are anonymous and peer-to-peer. Bitcoin’s unique architecture is set-up in such a way that their creation gets progressively more resource-intensive and total production will be limited to 21 million Bitcoins

There are various cryptocurrencies are out there like Ethereum, litecoin, ripple etc. are the different platform but Bitcoin is something different as it is a consensus network which enables a new payment system and it is a completely digital money. So, Bitcoin is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is something more prescribed by everyone out there.

 

Most people trust “Only Bitcoin”

There is a huge number of growing businesses and individuals are using bitcoin. This includes businesses like restaurants, apartments, law firms as well as popular online services. While bitcoin remain the same as a relative phenomenon, it is growing so fast. By May 2018 bitcoins total value increased 100 million US dollar.

 

Advantages of Bitcoin

  • Payment Freedom
  • Choose your own fees
  • Fewer risks for merchants
  • Security and control
  • Transparent and neutral

 

BTC is Most Trusted, compared to Ethereum, Litecoin & others

There may be facts comes when you don’t want to trust on bitcoin at all. But in comparison to other cryptocurrencies in the market like Ethereum, ripple, and others, Bitcoin is quite more trustable from all of them because it is a fully open-source decentralized platform. It means anyone can access anytime with all of its source codes whereas, in another cryptocurrency platform, this is not allowed.

 

Virtual or immaterial

Bitcoin is virtual as the online banking networks used by peoples. Bitcoin can be used to pay online and physical stores same as any other online store. Bitcoin can also be exchanged as in physical coins like Denarium coins, but if you are paying with mobile then it will be more convenient.

 

Taxes on Bitcoin

Bitcoin is not like as fiat currency with legal tenders in any status in any jurisdiction, but often tax liability accrues regardless of the medium used for that. There is a wide variety of legislation out there in many different jurisdictions which may cause income, sales, payroll, capital gains or some other forms of tax liability to arise with Bitcoin.

 

No replacement for Bitcoin. Period.

For now, Bitcoin is the only source and it will remain the same in future as well. There is no need to worry if someone creates any new digital currency because there can be no guarantee that it will remain the Bitcoin value. As there is already alternative currency out there inspired by Bitcoin but it cannot be going to replace it. Though there might be some changes or upgradation requires in the future remaining the same while other currencies keep introduces.

 

So with all these facts and states are enough to prove that Bitcoin currency will always remain the same in the coming future as well.

#Bitcoin

Bitcoin institutional adoption rising: BTC price analysis

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Amidst the crypto winters which led to the price of bitcoin falling massively, institutional adoption is on a rise with many analysts predicting that the bear market was being manipulated by large institutional investors in order to buy bitcoin at the cheapest rates before the entering into the markets.

Greg Tusarm an ex Goldman Sachs executive is comparing the current situation in the cryptocurrency market as early days of equity trading according to Bloomberg. The ex Goldman Sachs executive sees a great future for bitcoin and other cryptocurrencies ahead and believes that there are a lot of opportunities for businesses in the crypto space. Greg has also launched his own crypto brokerage called Tagomi Holdings which is backed by large investment firms such as Founders Fund.

Just a few days back, Jeremy Allaire, the CEO of Circle predicted that the price of bitcoin along with other cryptocurrencies will be rising tremendously in the next 3 years.

Paypal Co-founder launches Tagomi Holdings Inc

Peter Thiel, the head of ‘Paypal Mafia’ which is a group of former Paypal employees and founders who have since founded and developed companies such as Tesla motors, Linkedin, Youtube etc. has successfully launched an electronic brokerage startup Tagomi Holdings Inc. The company will help to overcome operational challenges in relation to trading digital assets such as bitcoin. The launch was announced by the company in a press release. Peter had also claimed that Bitcoin can be a hedge against economic downturns. The Founders Fund led by Peter has made huge a massive fund allocation in cryptocurrency startups all around the world.

Bitcoin Price Analysis:

BTCUSD Bitfinex 24 hour chart

BTCUSD Bitfinex 24 hour chart

After being bearish for a over a month, bitcoin started a bull run yesterday rising over $200 in just a matter of minutes. Though time volumes are quite low in comparison to last year’s trading volumes, the current volumes are quite higher than the last few months. Since yesterday Bitcoin is continuing its bullish pattern currently trading around $3641 on Bitfinex (at the time of writing). The price is expected to rise further as a major bullish pattern is formed with the new key support at $3550 (In accordance to Bitfinex Chart). The major bullish pattern line formed will most likely push bitcoin price above $4000 in short term.

 

Bears turning bullish

Market analysts who were earlier predicting bitcoin to fall below $3000 have now started to make bullish predictions stating that the price of bitcoin can soon reach its original position above $6000 where it was trading earlier before the start of the bearish trend in November this year. More and more institutional investors are buying cryptocurrencies at the current price which is the lowest price for bitcoin for more than a year. Diar has reported that more and more institutional investors are shifting to large over the counter trades for buying bitcoin and other cryptocurrencies lately. The total market capitalization of cryptocurrencies has risen more than $12 billion in 2 days. On Monday, the total market cap was around $103 billion which today stands at around $115 billion.

 

The following article is not financial advice. The readers are advised to do their own research and analysis before making any investment decisions in the cryptocurrency markets. The following are the viewpoints of the writer and not Coinnounce.

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Seven Popular Ways to Earn Bitcoin

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Here we have enlisted some popular ways to start earning Bitcoin with the least possibilities of risks. You will discover some amazing opportunities

It has always been hard to believe that the blockchain-driven cryptocurrency is yielding a real-time value. The crypto-world is blurring the lines between the real and the virtual, therefore, now is the right time to join this virtual league of crypto-users and earn some Bitcoin. Even if you are fascinated by the idea, you must be troubled with the means to begin your journey with Bitcoin. Solving this issue, here we have enlisted some popular ways to start earning Bitcoin with the least possibilities of risks. You will discover some amazing opportunities to capitalize on the cryptocurrency trend and earn some extra bucks while coping-up with your regular jobs.

 

1. Bitcoin Mining

Bitcoin Mining is one most conventional way of earning Bitcoin. Mining is the process of solving mathematical operations using a set of computer hardware and software to create Bitcoin. It is not an easy job; Bitcoin Miners need to be ultra-skilled to be successful at this job. Since a lot of miners have entered the market, it is easily noticeable that the difficulty of this job is increasing exorbitantly. Though, taking the support of external devices with better processing ability can be a relieving factor.

 

2. Micro Tasks for Bitcoin

For those looking for small-scale means, you can go for some micro-tasks that pay in terms of Bitcoin. Cumbersome efforts are not required to do these micro-jobs. They are small, easy and less time-consuming jobs which may include watching an advertisement, posting on social media, filling a survey etc. This is similar to the ordinary micro-jobs; the only difference is the pay. The payment is done in the form of Bitcoin. The pay is low but apt in terms of the time invested and the low risks involved.

 

3. Invest in Bitcoin and Bitcoin Derivatives

It is the most recent development in the bitcoin world. It is a popular investment asset providing lucrative means of making money with Bitcoin. The most common way is to buy Bitcoin and sell them after a point when the price is increased enough to turn a profit. Using this method, people have turned millionaires after the record-breaking hike in the value of Bitcoin in 2017.
Investing in Bitcoin is a new yet extremely profitable source of investment. Before selecting one of the ways, opt for a rational approach. There is an infinite potential to earn in this market but being a beginner, begin with tiny steps. It requires heavy investments to earn heavy amounts which are not usually affordable. Bitcoin Investments can be fairly profitable but nobody can take charge of the reliability. They are risk-prone investments which tend to fluctuate all the time. One mindful suggestion could be to invest while considering your personal level of risk tolerance.

 

4. Bitcoin Games and Gambling

There are abundant games available online that payout in Bitcoin. The payments are equivalent to the amounts one would get by doing the micro-tasks. They are fun and enjoyable, something that micro-tasks can never be. If you are a gaming fanatic, look out for such games and get yourself rewarded.
Casinos and in the virtual realm are called the digital casinos, same goes for betting and Sportsbet is an extension of the same concept. It uses Bitcoin as currency while the rest of the elements remain the same. However, it’s not a reliable source of money. Indulge in bitcoin gambling and betting only if you don’t mind losing your money.

 

5. Become a Freelancer and take payments in Bitcoin

Freelancing is a profession almost everyone is aware of. There are multiple platforms that help buyers and sellers to trade services. The services range from making a graphic art to creating a computer algorithm. The buyers pay these freelancers for their bit of work.
A delightful twist in the process is the introduction of Bitcoin Payments. Only a handful of sites have introduced this feature. If you have a skill that you think you can sell, join such site today!
Freelancing is a good option for various reasons. First of all, unlike mining or investing, there are no initial costs. You just have to log in, create a profile and start making gigs. Second, you can earn decent amounts. You will be paid for a skilled job, unlike the micro jobs. Third, you will get better at your work and get recognized for your work. Freelancing is a reasonable way to earn bitcoin without investing a large amount of money.

 

6. Bitcoin Blogging monetized with Bitcoin-based Advertisements

Bloggers earn through their content on their websites. They place ads in between the content and the more clicks they get, the more money they make. If you wish to earn Bitcoin by content creation, you can sign-up Bitcoin-based ad network. These networks pay in terms of Bitcoin.
The ads on the blogs match the context of the content. That is why it is always a good idea to create content that revolves around cryptocurrency. This method allows you to diversify your income stream into two. You can earn Bitcoin and Dollars simultaneously from one website.

 

7. Lend your Bitcoin

Lending is a very traditional way of earning a passive income and the now the same proposition holds true with Bitcoin and other cryptocurrencies. ‘Peer-to-peer lending’ is an emerging form of lending which is done via online portals. It has eradicated the roles of the bank and other financial institutions. You can earn Bitcoin through loans by using one of these lending platforms. Remember that you need to have some initial Bitcoin in the first place, to begin with, this practice. Also, the default is a possibility in the lending process. Make sure that the person taking the loan is reliable enough to return your Bitcoin along with interest.

 

We thank Davey Cross for this guest post.

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Bitcoin Whale Alert: 5351 BTC transferred to Bitfinex

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Just a few hours ago, around 5351 Bitcoin was transferred from unknown wallets to Bitfinex exchange probably for selling when the bulls show up.

Bitcoin showed quite a bullish momentum today rising around $200 in just a couple of hours. Bitcoin is currently trading around $3397 (at the time of writing) according to CoinGecko. The current price is a bonus for the bitcoin whales who were waiting for the best moment to sell their holdings in the midst of crypto winters. Though bitcoin showed bullish pattern today, the market trend still seems to be bearish as market analysts are predicting that the current bounce is just an illusion which is soon going to turn into a disaster for the price of bitcoin. Seeking the best opportunity, big bitcoin whales were already ready to sell their holdings in order to gain profits when the market crashes again.


 

Just a few hours ago, around 5351 BTC were transferred from unknown wallets to Bitfinex exchange probably for selling when the short term bulls show up. Here are the details for the transactions:

 

Transaction 1: 1909 BTC

https://www.blockchain.com/btc/tx/622ddee30e9b5bbac2053ef4042d37e8ba6b2728ccdcedc85f5aac4c8a3fa9a3

 

Transaction 2: 1721 BTC

https://www.blockchain.com/btc/tx/39616ab5255bf9c58875f66431e06b4c57b4825bebb912e246585b290a8440b9

 

Transaction 3: 1721 BTC

https://www.blockchain.com/btc/tx/a9ed866dcb578155cefa2d8bce16a1b22f4ff016584f8ff131437a944025316b

 

The crypto market trend is quite bearish at the moment with the price of bitcoin crashing down from above $6500 to around $3200 in just a month of time. The small-time investors should be quite cautious while trading in such a market situation as the large whales maybe waiting for the best time to make a profit out of your anxiety.

 

The following article is not financial advice and readers are advised to do a thorough research and analysis before making any investment decisions in the crypto market which is quite volatile.

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