After
Bitcoin prices dwindling from the past couple of weeks, Bitcoin
suddenly soared this week, with the bitcoin price rising more than 20%
in the last seven days and jumping over $500 per bitcoin in a matter of
minutes last night, only to fall back again.
The abrupt bitcoin price
rally was largely put down to the escalating U.S. China trade war
that’s being stoked by President Donald Trump and yesterday caused
China’s yuan currency to weaken to its lowest point in more than a
decade, prompting Trump to label Beijing a currency manipulator—but new
data suggests there could be more to the latest bitcoin bull run.
Many
cryptocurrency experts and analysts were quick to suggest that
bitcoin’s rise in tandem with the fall in the yuan means it’s becoming a
safe haven asset, despite its extreme volatility and no one being able
to accurately predict what bitcoin will do next.
However,
it would appear the bitcoin price suddenly soared last night before
China announced an increase to the yuan’s reference rate, with analysis
of trade volume data by The Block, a bitcoin and cryptocurrency industry
website, finding the catalyst was unusually high bitcoin volume on
Binance, the world’s largest bitcoin and crypto exchange.
Bitcoin,
despite being the most widely-traded cryptocurrency with volumes into
the billions of dollars every day, still struggles with wild price
swings due to so-called market whales moving large volumes of bitcoin at
above or below the current market value.
It
had so happened once that sun had promised a loyal Tron fan a model of
tesla 3 but ended up breaking his promise and awarding it to someone
else. However, he had to revoke his promise to the fan under pressure.
It is surmised that the mingling of the sun and Tron will
be darkening all hopes. Their partnership is going on well and lively
and the partners are expecting a bit of stable coin in their pockets.
Justin’s tweet promises 20 million on USDT. However, this is also under
doubt like the promises made prior to this. This promise is also labeled
“unreasonable” as no one will be receiving 20 million in cash straight.
With an extension to this, it also has to be noticed that one cannot
simply be a recipient of 20 million cash unless the person already has
some.
USDT has
have been going slow these days as only two million is circulating on
it instead of a hundred million. The Tron foundation is already an
issuer of one million annualised bonuses as they had already mentioned
in their own blog.
The
Tron foundation and sun as well seems to be circumscribed in scandals
which also surrounds tether. According to the reports, one million of
the funds have been distributed so far. There are other scandals as well
and it seems that the reputation of the Tron foundation has severely
been tainted. these scandals are not just any grapevine abuzz but are
concretised with certain evidence.
On Tether
Tether
limited’s reserves are questioned as well as it is involved in scandals
as well. It bears the blame of spawning a sequence of events that may
be around 74% having the backing of U.S. dollar. Such scandals as it has
been reported, is yet to be resolved which surrounds the massive pile
of cash that was invested in tether from the time of it’s inception in
2014.
It
has come to reports that the prices of Bitcoin have descended below
$11,500 this Wednesday. The pattern has taken the shape of the fictional
character Bart Simpson’s head. The predominant cryptocurrency had gone
past $12000 but there was an abrupt descend only hours later from that.
It rose high to $12,145 and slid down to $11,438 in that very afternoon.
The unwelcoming pattern of Bart’s head, as so it has been named after
the fictional character, Bart Simpson. It has, consequently, driven the
crypto market to decay.
The crypto industry
had to incur a severe market sell-off. It is learnt that
newly-published research has affirmed that Bitcoin and crypto-currencies
have led to the formation of an inverse correlation with the S&P
500. Nevertheless, it is also being noticed that both stock and crypto
markets are in risk now. Bitcoin has come down by 0.55%. the Dow Jones
industrial average loses 0.53% and the S and P sliding 0.31% for the
day. The profits, it is learned, were to relinquish them in a vicious
sell-off only hours later to the gains.
Structure of Bart’s head wrecks havoc on the crypto domain
Bitcoin had
to suffer a huge loss by the unwelcoming Bart Simpson technical
pattern. This pattern is consistently unwelcoming because the price
spikes trade sideways and then swerve low to the point of collapse which
is its original level. It has been named the “Bart” formation by the
armchair traders as the pattern of lines are reminiscent of the head of
Bart Simpson which is analogously spiked.
This
is a very rare occasion for the crypto traders but whenever it rears
it’s head then it is because there are manipulators striving to exploit
the market at the expense of retail traders. This pattern is heavily
detrimental to the crypto market and hence intimidating to the operators
of the market. The crypto market is operated under strict vigils and
therefore, such forebodings are hard to sense and fortunately rare for
this very reason.
However,
the stalwartz associated with the industry are devising ways to have
riddance of such havocs, keeping in mind that no more losses or taints
are caused to the market. It is also learned that preventive measures
would be taken so that they can out-manoeuvre every kind of prospective
threats. Speculatively, the security on technological terms would be
strengthened even more.
The
value is Bitcoin is getting back on track again these days after the
bearish correction of the previous month. The value of Bitcoin is
showing strong bullish momentum in the market and today a few hours ago
the value of Bitcoin reach around the value of $12,000. Some of the
experts and crypto investors are thinking that this sudden increase in
the value of Bitcoin is due to the economic feud between the United
States and China.
Still,
some of the analysts and analyst Josh Rager is expecting that currency
can again experience correction and value might fell back. Today, the
value of the Bitcoin was trading at the value of the $12,273.82 at 15:44
UTC, the market capitalization of the currency is $219,220,416,159 and
the 24-hour volume of the currency is $22,993,616,607.
But,
Rager was right and the value of currency drop again and now at the
time of writing the currency is trading at the value of $11,639.66 at
18:30 UTC, the market capitalization of the Bitcoin is $207,896,907,378
and the 24-hour volume of the currency is $23,564,681,811. Rager stated,
“I do believe BTC needs to have slight pullback sometime.”
Some of the experts or analysts were still thinking that the bulls have taken over the Bitcoin and the value of Bitcoin will achieve an increase of $13,880. But, Rager also explains this in his tweet,
Still,
when the value of the currency was around $12k the bitcoin experienced
the high of value around 4-5% and the bitcoin dominance is continuously
rose around the level of 68.5%. The last time the dominance of bitcoin
was high in 2017.
On
the other hand, the global stock market experienced a setback and Dow
Jones suffered the loss of 1,000 points in Monday’s session of trading.
This happens following China’s action at Donald Trump’s threats
regarding trade war with China. China itself allows it Yuan currency to
decrease around the important $7 level and this followed an enormous
capital flow out of the currency of China. The experts think that some
of the Chinese currency flowed into the cryptocurrency Bitcoin is the
previous 24 hours.
The CEO of Circle, Jeremy Allaire encourages the virtual currency bitcoin for being the global macro uncertainty. He stated,
“Humanity
has now created a non-sovereign, highly secure mechanism to store [a]
value that can exist anywhere that the internet exists. It’s
uncensorable, it’s unseizable.”
On
the 1st of August 2019, Walmart (the world’s largest company with the
most revenue and employees) has filed a patent application for its own
digital currency.
This move follows the Facebook cryptocurrency initiative in the form of Libra. The ‘Walmart Coin’ specifications are similar to what Facebook has proposed for its Libra.
Walmart’s
cryptocurrency may have demographic appeal to legislators involved in
the efforts of devising an alternative financial structure for people
who are not regular users of banks or find banking costly.
This new
digital currency may not face the same regulatory trouble as Facebook’s
Libra as there is a difference of scale between the two. Walmart’s
cryptocurrency and Libra are different from others like Bitcoin in a
very important manner; they are backed by a central authority and
household names.
Walmart’s
digital currency is proposed to be a fiat-backed stable coin. It is
also said that it may be pegged to the US dollar and available for use
only at select retailers or partners. It seeks to make transactions
cheaper and faster.
It could be tied to some other digital currencies
and may be purchased using cryptocurrencies like Bitcoin rather than
fiat currency alone. It aims at providing a free or cheap way to store
wealth that can be converted back to cash as and when the need arises.
It could earn interest, be used for food payments and may replace debit
or credit cards without cash. Savings may be offered to customers on
purchases. It seeks to use artificial intelligence to help the customer
purchase according to his budget and preferences.
Walmart is trying to improve its inventory forecasts and predict consumer behavior by using the cryptocurrency to
collect purchaser data with the ultimate aim of increasing its
profitability. Its own tokens will also reduce the credit card
processing fees, saving it billions of dollars each year.
There
are ambitious plans for this new digital currency including the
provision of a freelancer platform, short-term emergency loans, digital
currency futures, and multi-tender integration.
Walmart is not new to the blockchain technology and at present, this
technology covers its supply chain management and digital offerings for
customers.
Walmart’s cryptocurrency
does involve a major privacy concern especially if it is used alongside
the various other services provided by the Walmart ‘Money Centers’.
It
seems imminent that large corporations will foray into the area of
cryptocurrency in the form of their own branded stable coins in an
effort to exterminate banks from their financial ecosystem. Walmart has
made a futuristic move. Whether this move proves to be beneficial is yet
to be seen.
In
a confidential report acquired by mainstream media outlets including
Reuters on Aug. 5, the U.N. Security Council North Korea sanctions
committee said that hackers formed an essential part of government
funding.
“Democratic
People’s Republic of Korea cyber actors, many operating under the
direction of the Reconnaissance General Bureau, raise money for its WMD
(weapons of mass destruction) programs, with total proceeds to date
estimated at up to two billion US dollars,”
Reuters quoted the report as stating.
As
Cointelegraph previously reported, Pyongyang regularly forms the main
suspect in investigations over attacks on exchanges in nearby Asian
countries.
In
particular, the entity known as the Lazarus Group has become notorious
for its malign activities, which have affected countries across the
world.
South
Korea appears to be a specific target, however, the most recent event
involving a phishing email scam in which hackers masqueraded as major
trading platform UpBit.
At
the same time, the FBI reiterated the U.N. view that North Korea was
deliberately stealing money in order to counter the effects of
international sanctions, which the report now said were likely to remain
due to a lack of progress in talks.
“We
call upon all responsible states to take action to counter North
Korea’s ability to conduct the malicious cyber activity, which generates
revenue that supports its unlawful WMD and ballistic missile programs,”
it added.
The
growing interest in cryptocurrency mining in Iran has led the
government to recognize it and introduce new rules for the regulation of
the cryptocurrency market. The government is close to passing a bill
that finalizes these rules and regulations.
Mining
units had been multiplying in Iran attracted by the subsidized rates of
electricity and subsequent reduction of expenses of mining and
increased profits. The recognition from the government may be due to the
benefit of ease of access that it may provide the government to sources
of foreign currency at the time of international sanctions against the
country, allowing it to circumvent those.
The
Iranian Parliament ratified a bill that acknowledged cryptocurrency
mining as a legitimate industry. The bill clarifies that the government
does consider domestic trade of cryptocurrencies as lawful. It also
states that the Central Bank of Iran will not guarantee the value of
cryptocurrency and digital coins will not be considered legal tender.
Cryptocurrency
mining would be permitted in Iran subject to certain conditions. The
miners have to operate outside a 30 km radius (about 19 miles) of all
provincial centers except Tehran and Esfahan as these will be subject to
even more stringent rules. The miners must secure the prior approval of
Iran’s Ministry of Industry, Mine and Trade. The energy used by the
mining units will be charged at the rate at which energy is exported
from Iran. Miners will be subject to taxes at the same rate as
industrial manufacturing units with exemptions being made to those
miners who export mined cryptocurrency and return the revenue to Iran’s
economy. Regarding the crypto mining equipment, the miners must follow
the rules set by Iran’s standardization and communication authorities.
Licenses
have not been issued for the import of mining equipment into Iran and a
man was arrested on 31st July for smuggling crypto mining equipment
worth more than two hundred thousand dollars into Iran.
The
regulations were essential in the face of a multitude of illegal crypto
activities within the country and may prove to be a positive step for
Iran.
The
new age cryptocurrency or bitcoins are the talks of the town and
cryptocurrency affiliate programs are a niche the techies are obsessed
with. To understand and to focus on these affiliate programs are a great
move if you are trying to build a whole plethora of opportunities for
you to learn and earn.
Listed below are the 5 best and most used cryptocurrency affiliate programs for you to take ideas from:
CEX.Io – Affiliate Program
One
of the very first cloud-mining providers, CEX.IO is one of the most
popular exchanges on the internet for marginal trading. This being one
of the most popular marginal trading options, CEX.IO gives affiliate
users 30% commission on all transactions and these commissions are for
the lifetime of each referral. The marketing tools associated with
CEX.IO are such as promo codes, referral links, and banners. The pay-out
start from the date of your referral for the next 30 days credited into
your account.
Commission – 30%
Payout – No minimum.
Duration– a lifetime of each referral.
Payout Frequency – every day, starting 30 days from the date that your referral incentive credits to your account.
>>Ready to add Cex.io to your list of exchanges? You can join with our referral link here.
Deribit Affiliate Program
Another
platform that specializes in the trading of cryptocurrency which is
known for being the competitor of BItMEX is Deribit. Deribit, also known
as Derivative Bitcoin, is a futures and options trading platform which
was launched in the year 2016 and is based in Amsterdam. Deribit has a
detailed trading system and is essential for someone who had bought his
first BItcoin. Traders on Deribit can join the affiliate program, where
one can earn up to 20% commission from the trading fees that they will
charge for the first two months and the traders get a 10% discount on
their trading fees at the same time.Affiliate payout structure
Period
% of Commissions
More info
0-6 months
20%
Affiliates receive 20% of the commissions for the first 6 months after sign up.
6+ months
10%
Affiliates receive 10% of the commissions past 6 months after sign up.
Referred by affiliate discount structure
Period
% of Commissions
More info
0-6 months
10%
User receives a 10% discount for the first 6 months after sign up.
Commission – 20%
Payout – No minimum.
Duration– 6 Months
>> Ready to explore Deribit? Check out the site and you can signup using our link.
Binance Referral Program
Among
the leading cryptocurrency exchange platforms, Binance stands out to be
on top because of the vast customary it has gained in the 3 years of
its start.
The
commission offered is a whopping 20% that can be extended to an almost
40% margin, if you plan to hold onto Binance Coins or BNB as they are
more popularly known in your own account.
Commission – 20% – 40%(If you hold 500 BNB or more)
From
the option of being able to buy our first bitcoin, to having a customer
base of over 10 million, coinbase affiliate program is one that does
not require much knowledge into. Used vastly, Coinbase is one of the
best-known cryptocurrency exchanges. The structure of commission is one
of the simplest and on every referral made, you earn up to 10% of the
original fee. The company has started a whole new professional affiliate
program for users to refer to their customers and the commission comes
directly from the customer’s fees.
Commission – When a referral buys or sells at least $100 worth of BTC, Coinbase pays both you and the customer $10 worth of BTC.
Payout – No Minimum
Duration– One Time
Payout Frequency – Daily
>> One of the best Cryptocurrency trading platforms,you can join Coinbase with our referral here.
Kucoin Referral Bonus Program
The
newest on the cryptocurrency block, KuCoin has made quite a buzz in the
exchange market. The different ways of offering shares and running
competitions along with the probability of KuCoin having more altcoins
than any other exchange has what made it so popular in such a short span
of time
The
referral bonus of KuCoin goes up to 20% of the original fees. The
platform issues the referral bonus every two hours based on the 3
different levels of invitees: A, B, and C with referral bonus being 8%,
12%, and 20% respectively.
Commission – Up to 20%.
Payout – No Minimum
Duration– 1 Year
Payout Frequency – Every 2 hours
>> Do you want to participate in kucoin referral bonus program, Join using our referral link here.
For
guaranteed income, the most promising way is to promote a product that
has become not only stock but a currency. If your goal is to become a
bitcoin affiliate, then you can be sure to be able to generate extra
income by revenue sharing with these companies, most of which offering a
lifetime commission for your work.
The cryptocurrency market has been a mixed picture during the Asian trading on Friday. However, Bitcoin
(BTC) and the majority of top-20 altcoins are in a green zone with
gains ranging from 1% to 8%. Tezos is still the best-performing coin as
it continues gaining ground following the announcement of Coinbase
listing.
The
total capitalization of all digital assets in circulation increased to
$282 billion. The total trading volume settled at $51 billion, while
Bitcoin’s market share increased to 65.8%.
Top-4 coins price overview
Bitcoin
(BTC/USD) finally managed to develop an upside momentum. The first
digital asset hit $10,451 during early Asian hours and retreated towards
$10,400 by the time of writing. BBTC/USD has gained nearly 4% on a
day-on-day basis and stayed unchanged since the beginning of the day.
Ethereum,
the second-largest digital asset with the current market capitalization
of $23.2 billion, has grown by 1.28% on a day-on-day basis and stayed
unchanged since the start of the Asian session on Friday. ETH/USD is
hovering above $216, off the intraday high registered at $217.80.
Ripple’s
XRP stays frozen in the middle of $0.3100-$0.3200 range, mostly
unchanged both on a day-on-day basis and since the beginning of Friday.
The upside momentum is capped by a strong resistance on approach to
psychological $0.3200. Ripple’s current market capitalization is
registered at $13.5 billion.
Litecoin (LTC/USD) stopped within a whisker of $99.00 during early Asian hours and retreated to $97.2 by the time of writing. LTC takes fourth place in the global cryptocurrency rating with the current market value of $6.1 billion. LTC/USD has gained 1% on a day-on-day basis and lost 1.1$ since the beginning of the day.
It
has often been seen or noticed that bitcoin and ethereum enthusiasts
lack compatibility. An enterprising game, however, is under
establishment, which is hypothesized as a significant one. It is
considered as an attempt to narrow the space between bitcoin enthusiasts
and ethereum enthusiasts. It is an attempt to bring both the
crypto-currencies close together.
The
gaming enterprise which goes by the name of blockade games was
announced on July 31 has been developed and in a state of still-launched
as it has been reported by Heirdon to the Coindesk. It is learnt that
it has been successful in its venture to bridge the gap between bitcoin
and ethereum.
It has triumphed in this particular venture by sending a bitcoin
lightning transaction in a manner that causes an ethereum smart contract
to run.
The possible briefings on the yet-to-be-launched game.
The
game, before its launch, has been subjected to road-tests. The road
tests, however, were successful and these tests basically would lead to
plans in order to add some lightning network support to the neon
district. This is its upcoming role-playing game which has been built on
the top of ethereum. The transactions, as it is said, would be made by
sending some lightning network for the acceleration of the payments.
Heirdon who happens to be the CTO of blockade games explains in a blog post
which has been released on Wednesday that these tests were of utmost
importance because it is a staunch belief that both bitcoin and ethereum
hold massive prospective significance. They want the users to avail the
convenience of sending lightning bitcoin payments in order to trigger
ethereum events which are considered as an advancement in the domain of
bitcoin and crypto-currency.
According
to the blog the integration of lightning network payments, instant
payments in bitcoin would immediately be enabled and other events such
as minting a brand new Neon district asset to buyer’s ethereum or loom
network wallet. It is speculated that such an attempt is a much-needed
evolution in crypto-currency which is seen to be undergoing some rocky
patches in recent times.
Heirdon
reports to Coindesk that though, the developers and the makers of this
game have not yet disclosed the code of this unique transaction which
is known as lightning transaction but there is a promise from their side
to bring it to light once it’s security is ensured and perfectly ready
to be brought into implementation so that it can conveniently be handled
by people. This game, Heirdon, re-iterates that has been premised on
the context of the rift between the ethereum and bitcoin enthusiasts. He
considers both to be the sides of the same coin and they are
inter-dependent.
Heirdon
adds to his explanation that when it comes down to a positive set of
proverbs like sovereignty, privacy and autonomy especially in the realm
of cryptocurrency which faces the onslaughts of society and the
politics, infighting will be an affair of the past.
bitcointrendings 