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Irrational pessimism? – The aura of madness that regularly surrounds Bitcoin (BTC) is not just euphoric. Some, like David Rosenberg, delve incomprehensibly into their primary anti-crypto beliefs, without seeking to understand their incredible potential.

Bitcoin, a bubble about to burst?

In a TV interview with Bloomberg, economist David Rosenberg said he doesn’t believe in Bitcoin , which he clearly sees as pure speculation :

“When you talk to most of the people who say to put money in Bitcoin, they can’t even tell you who the person who developed it is or even how it is actually mined (…). It’s just a classic [speculative] bet, a mass movement where you have to follow the herd. It’s a huge bubble. “

Thus, the only reaction of the economic analyst to the new all-time high that the price of BTC has just achieved is to say that Bitcoin is „absolutely crazy right now“ .

Lack of knowledge of Bitcoin, but by whom?

While David Rosenberg pokes fun at the lack of understanding crypto-fans would have of their Bitcoin idol, he himself seems to question the maximum amount of bitcoin:

“Everyone seems to think we’re going to hit that 21 million cap for the BTC in circulation constraint, but there is really nothing in the protocol that suggests that the bitcoin supply cannot increase once we will have reached this limit. “

Is that so ? Yet, if one takes even a little interest in Bitcoin, one knows that when the very last block reward is paid, around 2140 , network inflation is scheduled to drop to 0 . In other words, no more bitcoin will ever be created beyond the 21 millionth.

After that, miners who validate transaction blocks through its Proof of Work (PoW) consensus will only receive fees from transaction issuers, i.e. already existing BTCs . This future situation is also regularly the subject of multiple speculations on the future and lively debates … but without end .

When we really take a look at the internal mechanics of Bitcoin, we see that its code has been extremely well designed by Satoshi Nakamoto. The only question that arises is that of the valuation of a BTC. Everyone can then have their own point of view, but the current trend is clearly optimism that the king of cryptos would be vastly undervalued, especially when looking at the behavior of institutional investors .

On n’a peut-être pas encore dit que la révolution Bitcoin avait pleinement commencé, mais c’est le cas et 2020 reflète parfaitement ce que nous pouvons appeler le transfert actif de richesse d’une génération à l’autre, par le biais de Bitcoin.

Le transfert de richesse d’une génération à l’autre est déjà en jeu, mais le transfert de richesse des monnaies fiduciaires vers les crypto-actifs s’est intensifié cette année. Les grandes coopératives ont un avantage injuste, en raison de leurs fondateurs qui appartiennent pour la plupart à la catégorie des baby-boomers.

Cette génération a bénéficié d’une structure économique manifestement plus souple que celle des générations suivantes, de sorte que la vitesse à laquelle ils peuvent transférer leurs richesses de la monnaie fiduciaire vers une monnaie refuge comme le bitcoin est attendue.

Le plus grand transfert de richesse de l’histoire de l’humanité se déroule en ce moment même sous vos yeux.

Deux des générations les plus importantes sont en retard sur la propriété de Bitcoin

Cette année, les achats de devises cryptographiques les plus importants ont été effectués par des institutions dirigées par les baby-boomers et, ironiquement, l’autre moitié de cette génération est à l’origine du système monétaire mondial actuel qui donne toujours la priorité aux devises fiduciaires comme le dollar américain, l’euro, etc.

Les sentiments à ce sujet de la génération du millénaire et de la génération Z sont à juste titre mélangés. La cryptoconnaissance est la technologie perturbatrice des deux générations, et historiquement, chaque génération est le fer de lance de la domination de ces technologies et l’utilise à son avantage.

Les baby-boomers ont la plus grosse part du gâteau

Pour la génération Z et les millénaires, deux générations qui, selon un rapport de la CNBC, possèdent moins de 5% de cette richesse, les chances s’accumulent massivement contre eux. Malheureusement, le fait de bien comprendre l’importance et l’impact des cryptocurrences, et d’être la génération qui devra gérer ou s’occuper de ce qui reste de la structure économique mondiale peu fiable qui a envoyé les différentes économies nationales dans de multiples récessions, ne suffit pas pour que ces générations deviennent les principaux bénéficiaires du système monétaire Bitcoin.

Les baby-boomers qui contrôlent apparemment la plus grande partie de la richesse mondiale – plus de 53 % – sont les plus favorisés du spectre. Cette génération a un pouvoir d’achat plus important, grâce à la richesse générationnelle. Ils peuvent acheter et retirer à volonté, car les risques financiers (en ce qui concerne les pertes) sont moins élevés pour eux.

Cependant, l’avenir inconnu, mais très prometteur, de la cryptoconnaissance rend probable que les Millennials et les Gen Z auront leur part du gâteau, bien que ce soit à la „seconde phase“ de Bitcoin que cela se produise.

Au fur et à mesure que le contrôle des richesses se déplacera et que ces générations deviendront les détenteurs de richesses importantes, Bitcoin aura peut-être déjà établi son rôle de premier plan au niveau mondial, et quel que soit le résultat, les deux dernières générations exploiteront ce qu’il en restera. D’un point de vue analytique, on prédit que l’avenir de Bitcoin aura une grande valeur.

The credit card company Visa has partnered with Circle to integrate USDC into their payments.

This is part of Visa’s Fast Track system, which is reinventing itself as „network for networks“.

Visa has also invested in companies that may be ready to take the reins if central bank digital currency launches.

The „king“ of the credit card industry, Visa, has partnered with Circle to use USDC on Ethereum. Even more digital integration is on the horizon.

Arrive at a collaboration

While crypto volatility has kept some payment companies at bay, Visa has plunged to connect its payment system to USD Coin ( USDC ). USDC was developed by Circle, a company specializing in digital payments.

While users trade cryptocurrency and make payments using the Circle app , the Visa partnership will focus its efforts on USDC. The stablecoin , which runs on the blockchain Ethereum has a total market capitalization of 2.9 billion. Each USDC is pegged to one US dollar and is backed one to one.

This new partnership will see Circle working with Visa to help integrate USDC into the card company’s platforms. Circle will also integrate its app with Visa processing, and both companies hope this translates into fast, cheap (and potentially international) payments.

In theory, USDC could be sent anywhere in the world where Visa is accepted. Additionally, upon completion of the Fast Track program, Visa will issue a credit card that will allow USDC cardless payments.

Although Bitcoin has been called a store of value, the adoption of a non-volatile asset on the blockchain has been elusive. Could this card fill this gap?

The USDC team also promises to implement a Layer-2 solution that will drastically reduce or even eliminate fees. Another claimed benefit: zero purchase fees through the Coinbase exchange . This potentially facilitates USDC transfers to and from bank accounts.

“This will be the first corporate card that allows businesses to spend a USDDC balance,” said Cuy Sheffield, Visa’s crypto manager.

Change the situation

On the tech side, the USDC runs on the Ethereum blockchain, which recently launched the genesis block of its version 2.0. This new proof of stake version of the blockchain could end network congestion and reduce fees.

Likewise, ETH2 intends to expand massively to very many nodes, rather than a few centralized companies.

More than just Visa

Recently, Visa has shown more interest in digital currencies. The company has invested $ 40 million in Anchorage, a crypto startup. “Continue to think of Visa as a network of networks,” Sheffield said. He suggested that Visa could expand to other stablecoins or other blockchain networks.

Sheffield described Anchorage as potentially crucial for central bank digital currencies (CBDCs). If the US Treasury decided to release a digital dollar, Visa would likely be in a good position to take advantage of it.

Bitcoin unterzog sich einer großen Abwärtskorrektur, Stunden nachdem der Federal Open Market Committee (FOMC) das Protokoll seiner Sitzung vom 5. bis 6. November am Mittwoch veröffentlicht hatte.

Die Benchmark-Kryptowährung fiel in der späten New Yorker Börsensitzung um fast 1.000 $ und folgte damit auf eine unglaubliche Kurserholung, bei der sich ihr Wert in nur sieben Wochen fast verdoppelte. Viele Händler waren sich einig, dass BTC/USD lediglich ihre überkauften Gefühle mit einem Absturz neutralisierte und hinzufügte, dass das Paar seinen Aufschwung wieder aufnehmen würde.

„Erwarten Sie Beben auf dem Weg nach oben“, sagte der Anbieter von Marktsignalen Credible Crypto. „Das sieht so aus, als ob es einer von ihnen war. Immer noch bullish. Ungültigkeitserklärung bei 15,8k, aber wir glauben immer noch, dass wir ein neues [Allzeithoch] sehen, bevor wir dieses Niveau erreichen.

FED-SITZUNG

Die FOMC-Minuten gingen über den Draht, aber sie lösten nur wenige unmittelbare Bewegungen auf den traditionellen und Bitcoin System-Märkten aus. Das lag zum Teil daran, dass die Fed-Beamten die Richtung ihrer Programme zum Erwerb von Vermögenswerten diskutierten, anstatt eine definitive Strategie zu entwickeln.

Einige waren sich einig, dass die Federal Reserve weiterhin im derzeitigen Tempo Staats- und Unternehmensschulden aufkaufen sollte. Gleichzeitig sprachen sich viele dafür aus, „dass der Ausschuss seine Richtlinien für den Kauf von Vermögenswerten ziemlich bald verbessern sollte“, und deuteten an, dass die Zentralbank ihre Strategien je nach den damaligen wirtschaftlichen Bedingungen ändern könnte.

Das Protokoll enthielt drei aufeinander folgende Ergebnisse. Erstens konnte die Fed beschließen, mehr Anleihen zu kaufen. Zweitens könnte die Zentralbank die Laufzeit der von ihr gekauften Anleihen verlängern. Und schließlich könnte sie anstreben, Anleihen in gleicher Höhe und mit gleichen Laufzeiten für einen längeren Zeitraum zu kaufen.

WAS ES FÜR BITCOIN BEDEUTET

Das FOMC bewegt sich in einem Ausblick, bei dem das Risiko besteht, dass sich die wirtschaftliche Erholung in der Wintersaison vor dem Hintergrund steigender COVID-19-Infektionsraten verlangsamt. Unterdessen lassen positive Entwicklungen bei den Impfstoffen auch einen starken wirtschaftlichen Aufschwung Anfang 2021 erwarten, was den Bedarf an akkommodierenden Instrumenten der Fed verringert.

Dies führte zu Unsicherheiten darüber, ob die Fed ihre Politik auf der Dezembertagung ändern wird oder nicht. Nichtsdestotrotz versicherten die Beamten der Bank, dass sie so lange akkommodierend bleiben würden, bis ihre Strategien den Arbeitsmarkt heilen und eine Inflation von mehr als 2 Prozent erreichen.

Bitcoin hat sich inmitten der ultraniedrigen Zinssätze und der unbegrenzten Möglichkeiten zum Kauf von Anleihen unglaublich stark erhöht. Die Programme der Fed haben die Renditen des Schatzamtes nach unten gedrückt und zusätzlichen Abwärtsdruck auf den US-Dollar ausgeübt. Es ließ Anlegern keine andere Wahl, als nach Alternativen in riskanteren sicheren Häfen wie Bitcoin zu suchen.

Das jüngste FOMC-Protokoll lässt die Krypto-Währung – bestenfalls – in einer ungewissen Verzerrung zurück. Nichtsdestotrotz tun sie das Gleiche mit dem US-Dollar, der jetzt nahe seinem Jahrestief gehandelt wird. Das könnte es Händlern ermöglichen, für eine Weile dort zu bleiben, wo sie sind. Infolgedessen könnte Bitcoin seine zinsbullische Ausrichtung vorerst beibehalten.

En ny rapport har visat att nästan hälften av allt Bitcoin som handlas på P2P-börsen Paxful byts mot presentkort.

En rapport publicerad av Arcane Research har avslöjat att nästan hälften av Paxfuls handelsvolym kommer från handel mellan Bitcoin ( BTC ) och presentkort

Rapporten fann att „att köpa Bitcoin med presentkort har varit den föredragna lösningen på Paxful varje månad under den analyserade femårsperioden,“ och i juni stod för 48% av Paxfuls volym.

Paxful bearbetar nästan 40 miljoner dollar i handel varje vecka, vilket innebär att upp till 20 miljoner dollar i BTC byts ut mot presentkort varje vecka. Arcane belyste den sista veckan i juni i år i rapporten, där $ 16,2 miljoner BTC såldes för presentkort.

Arcane tillskriver större delen av Paxfuls volym efterfrågan på överföringar från jurisdiktioner med dåligt utvecklade finansiella tjänster. Med mer än hälften av Paxfuls värdehandel i USA, tyder rapporterna på att mycket av plattformens nordamerikanska volym representerar migrerande arbetstagare som skickar medel till sina familjer.

”Betalningslösningen för presentkort är flexibel. Det gör det möjligt för köpare att indirekt köpa BTC med kontanter genom köp av populära presentkort på bensinstationer och sedan sälja dessa presentkort på Paxful för BTC. ”

Arcane noterar att många av dessa affärer avvecklas till en stor rabatt från marknadsvärdet, vilket tyder på att vissa av dessa affärer kan relatera till olagliga aktiviteter:

”[Presentkorthandel] görs ofta till en betydande rabatt, ner till 60 cent på dollarn. En naturlig fråga att ställa är därför vem är villig att ta en 40% hit för att köpa Bitcoin på detta sätt? ”

Paxful framträdde som den bästa peer-to-peer ( P2P ) Bitcoin-marknaden efter Localbitcoins införde KYC-krav för ett år sedan för användare med mer än 1 000 dollar i årlig handelsvolym.

Medan västerländsk handel har skiftat bort från P2P-marknaderna till förmån för centraliserade börser sedan 2016, noterar Arcane volymen från framväxande „gräns“ -ekonomier har ökat genomgående de senaste åren.

We bring you a biweekly summary of the activity of Bitcoin whales, showing their strong tendency to accumulate.

The last quarter of the year has already officially started, so it’s useful to analyze how the Bitcoin whales started it. Check out the summary we’ve prepared for you here, using Whale Alert as a reference. The most obvious thing is that hoarding is the predominant trend.

Specifically, we’ve prepared a bi-weekly summary, which makes it possible to see the big picture more fully.
Summary table of Bitcoin whale activity from 27 September 2020 to 11 October 2020, where the accumulation trend predominates. Source: Whale AlertSummary table of Bitcoin whale activity from 27 September 2020 to 11 October 2020, where the accumulation trend predominates. Source: Whale Alert: Whale Alert

Now is the time to invest in Bitcoin?

Bitcoin whales have a strong tendency to accumulate

Over the past 15 days, Bitcoin whales have mobilized a total of 173,412 BTCs through 76 operations, according to Whale Alert. As our summary shows, in that time the whales have accumulated a total of 87,687 BTCs, representing 50.57% of the total BTCs mobilized. Meanwhile, only 28.66% of this total amount has been for the supply of liquidity in the crypto exchanges or for sale.

Clearly, it is clear that Bitcoin whales have started this quarter with a significant accumulation trend. This could support Bitcoin’s growth. The reason is that by doing so, the whales are decreasing the supply of BTC in the market, and thus indirectly driving the price. With their buying trend, they’re urging other smaller players to follow their lead.

Now, if we go to the details we will notice that the flow of movements and transactions varies more or less constantly. Weekends are the days with the least activity. The three busiest days for Bitcoin whales were September 28, October 1 and October 6.
Graph showing the flow of BTC activity mobilized by Bitcoin whales in the last 15 days. Graph showing the flow of BTC activity mobilized by Bitcoin whales in the last 15 days.

In general, we can see that the whales began the month of October quite active, but then their activity decreased considerably. During the past week the busiest days were Tuesday 06/10 and Friday 09/10.

However, the predominant trend in the first one was not accumulation, but movements between unknown wallets. In contrast, on the second day there was a marked accumulation, as it was the only type of activity executed.
What influence has this had on the price of BTC?

On October 1, Bitcoin lost about US$ 400 in a matter of hours, going from US$ 10,882 to US$ 10,483. Bitcoin whales accumulated about 8,434 BTC on that day, taking advantage of the price drop.

The week continued to progress, and Bitcoin almost managed to regain its range of $10,800. However, on October 6th it fell again and lost about $300, making it one of the most traded days for Bitcoin whales.
Bitcoin price chart for the last 15 days. Source: CoinDeskPrice graph of Bitcoin in the last 15 days. Source: CoinDesk CoinDesk

Then, from October 8th until today, the price of Bitcoin has increased about 8.83% (about US$ 940). Therefore, we can understand that this is a cycle in which whales take advantage and drive much more of this growth, with the accumulation they have had.

In other words, since October 8th the accumulative trend of Bitcoin whales is more evident, and this coincides with the date when the upward trend of the cryptomone currency skyrocketed. The proof is that 33.45% of the total BTC accumulated in these 15 days, was taken to unknown wallets since that date.

Bitcoin will receive capital equivalent to a tsunami, assures Tyler Winklevoss

Gemini’s billionaire founder, Tyler Winklevoss, says Bitcoin will receive a tsunami in terms of capital amounts.

Settembre non è storicamente il mese migliore per Bitcoin e il 2020 non fa eccezione.

Il mese si è concluso con un meno 7% sull’indice dei prezzi Bitcoin. È la correzione più brusca da marzo, quando il prezzo è sceso a 3.850 dollari a causa del panico su tutti i mercati globali.
Acquistare 1000 euro di Bitcoin senza commissioni? Mettiti al lavoro a Bitvavo

Bitcoin contro dollaro

All’epoca, gli investitori sono fuggiti in massa verso il denaro contante. Di conseguenza, tutti gli attivi del consiglio di amministrazione (azioni, oro e bitcoin) hanno perso più del 25% rispetto al dollaro.

Logicamente, il prezzo del dollaro si è ripreso il mese scorso quando una seconda ondata del virus Corona è ricomparsa negli Stati Uniti e in Europa. Il cosiddetto Indice del Dollaro (DXY) è salito dell’1,8% a settembre, il primo aumento da marzo.

Mike Alfred, CEO di Digital Assets Data spiega:

„Bitcoin sembra essere sensibile a un dollaro forte nel breve termine.

Mentre il prezzo da marzo permette un movimento contraire rispetto all’indice del dollaro.

Da marzo, assistiamo a un rally da 3.867 a 12.400 dollari per arrivare a una brusca battuta d’arresto a metà agosto. Da allora, il prezzo della gamma si è mosso tra i 10.000 e gli 11.000 dollari.

L’indice del dollaro ha mostrato esattamente il contrario. Un picco di 103 punti a marzo e un minimo di 91,75 punti ad agosto, quando i governi hanno iniziato a spingere il denaro alla deriva.

L’indice azionario S&P500 e l’oro sono stati in gran parte in linea con il Bitcoin. Forse è una coincidenza, perché la correlazione tra Bitcoin e azioni ha oscillato storicamente. A settembre, tuttavia, ci sono stati momenti in cui c’è stata un’elevata correlazione con le azioni e l’oro, rispettivamente.
A lungo termine

Il fatto che gli investitori stiano accumulando le loro BTC e le prendano dalle borse è un buon segnale per Bitcoin. Il 15 settembre MicroStrategy ha acquistato ulteriori 16.796 BTC.

Questo ha portato la loro esposizione a 38.250 Bitcoin, equivalenti a 42,5 giorni di produzione di Bitcoin.

A breve termine, i trader possono essere inclini a optare per la certezza: tornare al contante.

„Non possiamo ignorare il recupero del dollaro e questo continua a mettere sotto pressione il prezzo del bitcoin“.
Matthew Dibb, CEO di Stack Funds.

Tecnicamente, però, non c’è ancora motivo di farsi prendere dal panico, afferma Josh Rager in un recente tweet. Scopre ancora alcuni punti luminosi nonostante la correzione di settembre.

Rager pensa che i mercati diventeranno verdi in vista delle elezioni americane di martedì 3 novembre.
Ingrandisci

E a volte aiuta lo zoom out. Bitcoin mostra un rendimento netto nei primi nove mesi del 2020: +48%. Con questo, Bitcoin lascia oro, azioni e obbligazioni.

Al momento della scrittura il prezzo è superiore a $10.487, un plus dello 0,8% sul grafico Bitstamp.