Facebook recently made an announcement regarding the launch of its own digital currency called Libra. Do you know the zodiac sign “Libra” is ruled by which planet? (in astrology) The answer is “Venus” and that’s the name of the digital currency which is going to be launched by the world’s largest cryptocurrency exchange Binance.

Binance already the largest cryptocurrency exchange in the world is going to dominate the digital currencies market with the launch of its own cryptocurrency Venus. Yi He, the co-founder of Binance addressed a media conference and made the announcement.

Here is what she said: “We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the digital economy.”

She added: “We hope to achieve a vision, that is, to reshape the world financial system, allow countries to have more tangible financial services and infrastructures, protect their financial security and increase the economic efficiency of countries.”

Venus is going to be an open blockchain with the wide range of applications and it is expected to be quite versatile far as its usage is concerned.

When Facebook made a similar announcement it came under the scanner for its financial and economic impact. Many Governments and Central Banks started being skeptical about the impact it will have on the various currencies and on the economy and financial systems as a whole and Venus will have to face some challenges now that it is going to step in the market after the announcement.

International revenue service which is located in the united states has started sending certain warning letters to the owners of crypto-currency. The subject matter of such letters demand the cleaning of the debts from the insolvent owners and pay the fine if let any.

It was discovered that in a news bulletin, the IRS has made confessions regarding the sending of letters which they call “educational letters”. To be in accordance with this statement, there are three variations in this letter.

They have also said that such letters have been sent to over thousands of taxpayers and they will have such letters sent to many more by the end of this month, hoping that the taxpayers would be taking the letters seriously else would have to suffer severe penalties. To quote IRS Commissioner,

“The IRS is expanding our efforts involving virtual currency, including increased use of data analytics. We are focused on enforcing the law and helping taxpayers fully understand and meet their obligations.”

It has been unearthed by IRS that there are many who own crypto-currencies and are involved in businesses but skive paying the tax on time.

They have now decided to act upon this seriously and etch out all the payments that are yet to be done by the crypto owners. They have formulated some strict guidance they say so that all the payments are done on time from the next time, avoiding problems and confusions later.

Anyone failing to adhere to such guidelines would be penalized immediately. It has been making the same efforts since the year 2014. Their clients are of the opinion that they fail to update the list of guidelines. However, this time, they have done it, unfailingly.

A writer of the popular magazine Forbes named Lawyer Tyson Cross has also written about such guidelines of IRS in Forbes, at length. There are many other clients who have reported of the same reception of such letters.

Although the crypto, Dogecoin, witnessed enormous drops recently it doesn’t seem to be giving up anytime soon. In fact, analysts argue that the coin has been maintaining itself quite well since the last drops.

However, one can never deny the fact that it’s never an easy task to recover from massive bearish trends. And perhaps the same is true for Dogecoin.

Although the coin tried maintaining its momentum really well, it seems that the downtrends have already started for the coin. Moreover, as per the analysts perceive the downtrend is supposed to continue for a while now.

The Present Scenario Of Dogecoin

Well as far as the recent journey of Dogecoin is concerned, the coin witnessed an opening of $0.0028 a week ago. However, the coin remarkably jumped by 2.85% on the 10th of August. Well, this bullish trend effortlessly continued to grow till 11th August.

The Fall of the Dogecoin, however, started from 12th August as it was on this day that the coin terribly fell down from $0.00298 to $0.00296 by 0.79%. In fact, the drop continued to persist even on 13th August and the price value dropped from $0.00296 to $0.00282 by 1.69%.

Quite similar to 13th Aug, the Dogecoin’s price kept revolving amid the $0.00282 to $0.00283 zone. Until yesterday, when the price witnessed a tremendous drop of the week off as it went down by 9.33% from $0.00283 to $0.00257.

As of today, the price begins with a drop itself and as observed, the price fell from $0.00257 to $0.00245 by 4.53%.

As a result of Dogecoin Potential and efforts of Dogecoin creator dogecoin is listed on top exchanges, Community is optimistic that will dogecoin increase in value.

Let’s Look Into The Future

Now let’s get into the interesting part which is dogecoin price prediction 2019.

Although the coin is witnessing downfalls right now, there is no denying the fact that Dogecoin is and has always been a promising investment. In fact, if the views of some analysts are concerned, they firmly believe that Dogecoin has always been in the footsteps of Bitcoin and resembles it in many ways.

Moreover, the coin is supposed to reach the zenith of USD 0.0070 by the end of the year. Therefore as far as investment planning in this sector is concerned the coin seems to be improving in the investment chart. Therefore, long term investments seem to be a wise step in the Dogecoin case.

As of writing this article Bitcoin was trading at $10.677.1 United States dollars (USD) and was going and upward and positive growth of 2.71 percent. The market cap of the coin was $190.40 billion United States dollars (USD) and the market supply of the coin was 17.83 million.

Bitcoin (BTC) has shown massive improvement and the reason behind this is the launch of Bakkt.

Here is what the Bakkt announced in its official blog:

“Our contracts have already received the green light from the CFTC through the self-certification process and user acceptance testing has begun. With approval by the New York State Department of Financial Services to create Bakkt Trust Company, a qualified custodian, the Bakkt Warehouse will custody bitcoin for physically delivered futures.”

Bakkt’s launch was pending since the beginning of 2019 because of a glitch it was facing by the United States Commodity Futures Trading Commission [CFTC] which was reluctant in giving Bakkt a free go. Now that the green signal is received Bakkt is all set to launch on September 23rd.

The largest digital currency Bitcoin (BTC) has got a massive boost because of the digital currency and it will help the coin in the further mass adoption, usage and application. Companies are always reluctant in using digital currencies as a way of payment and transfer because they are concerned with the security issues involved in digital currencies. Now since Bakkt has adopted Bitcoin the coin is going to get a sense of security and trust that is much needed for it as well as other digital currencies in the crypto market. The crypto community is quite thrilled after the announcement. The crypto world needs acceptance and it has got a much needed slight push.

Facebook recently made an announcement regarding the launch of its own digital currency called Libra. Do you know the zodiac sign “Libra” is ruled by which planet? (in astrology) The answer is “Venus” and that’s the name of the digital currency which is going to be launched by the world’s largest cryptocurrency exchange Binance.

Binance already the largest cryptocurrency exchange in the world is going to dominate the digital currencies market with the launch of its own cryptocurrency Venus. Yi He, the co-founder of Binance addressed a media conference and made the announcement.

Here is what she said: “We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the digital economy.”

She added: “We hope to achieve a vision, that is, to reshape the world financial system, allow countries to have more tangible financial services and infrastructures, protect their financial security and increase the economic efficiency of countries.”

Venus is going to be an open blockchain with the wide range of applications and it is expected to be quite versatile far as its usage is concerned.

When Facebook made a similar announcement it came under the scanner for its financial and economic impact. Many Governments and Central Banks started being skeptical about the impact it will have on the various currencies and on the economy and financial systems as a whole and Venus will have to face some challenges now that it is going to step in the market after the announcement.

A $3Billion Chinese Ponzi Scheme called PlusToken is now allegedly dumping Bitcoin by the hundreds. The Bitcoin sell-offs from the scheme could be to blame for the downturn in the cryptocurrency markets.

On 14^th August 2019, Dovey Wan, founding partner of Primitive Ventures, drew attention to the ongoing mass sell-offs of Bitcoins from the fraudulent Chinese investment scheme.

Wan highlighted that PlusToken was created in mid-2018 and promised high yield investment returns at different rebate percentages to its four tiers of the member. In early 2019, the project claimed to have over 10 million members.

Wan tweeted an attachment with addresses — including Bitcoin (BTC), Ether (ETH) and EOS— known to be linked to the PlusToken scheme and urged crypto exchanges over-the-counter platforms to take action. Wan also noted that the addresses are only a fraction of the total

Along with the addresses, Wan has attached investigative data from security audit firm Peckshield that reveals that the sell-off likely started in July but now appears to have intensified. It also seems to suggest that approximately 1000 Bitcoin has already “gone into Bittrex and Huobi”.

She mentions that the Chinese police have revealed that investors were scammed of a whopping $3 billion. The police had hunted down a core team member of the scheme two months ago.

The cryptocurrency cannot reportedly be rolled back despite the arrest. The reasons behind this were explained by Wan. Many of the BTC addresses of the scheme are started with P2SH (Pay to script hash) commonly used for multi-signature. It is probable that some people who hold the keys are not being caught and therefore the police are unable to unlock the wallet. For EOS/ETH wallet can be a different case but the police were not able to touch any of those yet.

She has recommended that Peckshield and blockchain analytics firm Chainalysis analyze the flows more closely in an attempt to curb the impact of the sell-offs. She notes that PlusToken appears to be moving their funds in small batches of 50-100 BTC into exchanges.

According to reports from Chinese traders, an unknown address has been dumping 100 BTC incessantly on crypto exchange Binance in recent days. Wan suspects this to be connected to the scheme.

In a recent summary of 2019 crypto-related theft from blockchain security firm CipherTrace, the PlusToken scheme was identified as being the largest single incident of loss having purportedly defrauded investors of $2.9 billion.

The cryptocurrency market has to notice bullish movement again and many of the cryptocurrency has bounced back in the green signal. Some of the currencies such as Lisk, Verge, Nexo, Maker is experiencing great bullish shoot in their value.

Lisk (LSK) Value Status: Currently, at the time of writing the currency is trading at the value of $1.52 and its value is increasing by 27.55%. The market capitalization of the currency is $181,042,288 and $5,950,333. The circulating supply of currency is 119,398,376 LSK and earlier during the day, the Lisk’s value is increased by 39.90%. The main thing about Lisk is that they are not mineable.

Verge (XVG) Value Status: The currency is currently trading at the value of $0.005072 and its value is also increasing by 7.23%. The market capitalization of the currency is $80,567,936 and the 24-hour volume of the Verge is $2,775,870. The circulating supply of the currency is 15,885,167,109 XVG. Earlier today, the value of the currency increased by 13.56% and the verge is digitally mineable currency.

Nexo (NEXO) Value Status: Nexo is not mineable just like Lisk and currently the currency is trading at the value of $0.077989. The value of the currency is increased by 4.52%, the market capitalization of the currency is $43,674,015 and the 24-hour volume of the currency is $6,354,028. The currency is positioned on 93rd rank and the circulating supply of currency is 560,000,011 NEXO. Earlier the currency was increased by 10.69%.

Maker (MKR) Value Status: Currently the currency is trading at the value of $511.76 and its value is increasing by 4.35%. The market capitalization of the currency is $511,756,847 and the 24-hour volume of the currency is $2,091,523. The circulating supply of the currency is $1,000,000 MKR. It is an Ethereum’s smart contract platform that supports the DAI through the utilization of Collateralized Debt Positions. Earlier the currency’s value was increased by 8.61%.

Quant (QNT) Value Status: The currency yesterday was a big loser, but today earlier the currency’s value increased by 8.73% and trading at the value of $6.79. Currently, the currency is trading at the value of $6.54 and unfortunately, the currency’s value is decreasing by 3.13%.

https://www.thecoinrepublic.com/tethers-80-of-supply-is-managed-by-only-around-300-addresses/

A crypto market research firm, Coin Metrics has stated that around 300 to 318 addresses are holding the 80% of the Tether supply, which is worth around $1 million.

The news was reported by Bloomberg and in the findings of the report, co-founder of the Coin Metric, Nic Carter said that few USDT whales also includes very prominent cryptocurrency exchanges such as Bitfinex and Binance.

The research also added that this is a different situation than that of Bitcoin’s (BTC) distribution and in which whales only have an account of 20% of the overall token supply. It was also reported that around 20,000 BTC addresses were recorded holding worth $1 million.

As it shows that the distribution of the Bitcoin is even across its users, while on the other hand, USDT might be able to hover the value of Bitcoin. This was the suggestion given by Austin Finance Professor John Griffin at the University of Texas. He stated,

“The concentration of Tether suggests that control of Tether is in the hands of a few central players who can swing Bitcoin prices, and have vested interest in doing so […]. It also suggests that many exchange players have a vested interest in keeping the Tether game going.”

In the research report of Coin Metrics, Professor Griffin also associates the market manipulation of USDT and the currency’s bullish movement of all-time-high of 2017. On the other hand, the co-founder of the market tracker TokenAnalyst, Sid Shekhar said that there are also concerned related to the market’s changing due the large sum of USDT token is introduced in the crypto market.

Apart from this, the currency is developing in the crypto community as well. Bitfinex is now providing the currency on their other blockchain protocol for bitcoin named BlockStream’s Liquid Network Sidechain. It has been already running of Omni blockchain. The liquid is also planning to create Liquid-based USDT to provide on different cryptocurrency exchanges in the upcoming future such as OKEx, OKCoin, Sideshift Al, Renren Bit, BTSE and BTCTrader/BtcTurk.

During the united states independence day, the prices of bitcoin had an unexpected fall from $12000 to approximately $11,000.  It took every trader associated with this industry in surprise as they were spotted standing in front of price charts instead of holding glasses of drinks. Every trader is dismayed by the affair of a fall in price.

Such an affair is unexpected enough as the situation has been quite the contrary previously.

Bitcoin prices were in co-relation with holidays

In recent research, it has been found that bitcoin prices shoot up to a high point during the holidays like independence days, Christmas, new years and so on. The new research has also shed enough light on the particular holidays which witnesses the increase in the price of the bitcoin. It has also explained certain theories functioning behind why holidays lead to a rise in FOMO in bitcoin markets.

Why do holidays co-relate with the prices of bitcoin

Taking the new study into consideration, it has come out with some peculiarly astonishing results regarding the rise in prices of bitcoin during holidays like independence day, thanksgiving and Christmas, often has with the first-ever cryptocurrency, Bitcoin.

SFOX, the firm also shares its finding that how the case of an increase in the prices of bitcoin has been the same from quite a few years. Their research confirms the fact that holidays cause a rise in bitcoin prices. Instantiating, in the year 2017, the prices of bitcoin had skyrocketed during thanksgiving, capturing the interest of the public.

The FOMO had also taken the price of bitcoin to a height of $20,000 before the Christmas hit. Even after Christmas, there was a sharp rise in price during the new years eve.

Though, it remains a matter of comprehension that why do holidays trigger the rise of the prices of bitcoin after it is known to all who is associated with this particular industry that discussing digital money and its nuances with family can await avenues of risk for the person. Investing in cryptocurrency bears large risks than investing in bitcoin.

Cameron Winklevoss opines that one has to be in a state of frenzy not to invest what he and his twin brother terms “future of money”.

Binance coin (BNB) is the token of the largest cryptocurrency exchange in the world, Binance (BNB). The coin is very stable and is performing very well as of now. In fact, the coin has been good since its very inception and shown its worth in the crypto market now and then.

The coin has broken past the resistance level of $30 and as of now the coin is trading at $30 against the United States dollar (USD) and showing positive growth and upward trend of 0.74 percent. The market cap of the coin is $46,662,933,549 United States dollar (USD) and the 24 hours trading volume of the coin is $273,251,823 United States dollar (USD).

Binance coin (BNB) seems to go ahead and consolidate in the future. The coin has been performing very well but has still not been able to cross the 50 days moving average. The coin is showing a bullish trend all along and the relative strength index (RSI) is at the 50 point mark as of writing this article.

The present trend shows that the consolidation period maybe soon to be achieved and the coin main consolidates around the lowest point of $24 and to the higher side it can go as high as $32. Binance coin (BNB) can be a very good investment option as of now. 

Each indicator for the coin in a positive side and there can be no cause of worry for the coin as far as the investors and traders are concerned. Yesterday was a good day for the coin and the coming days can be turn out to be even more good.