• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
Advertisement

Sign of good things to come

Bitcoinist by Bitcoinist
4 years ago
in Mati Greenspan, News, News teaser, Sponsored Article
0
Advertisement

Perhaps the oldest and most used decentralized network in existence today is the file-sharing platform BitTorrent.


After the US Government with the help of Metallica’s drummer shut down Napster in March 2001, the idea of file sharing quickly evolved to a more resilient peer to peer model. Today it’s estimated that more than 170 million people are actively using BitTorrent and yesterday they launched their very own crypto token.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

The ICO distributed almost 60 billion tokens, worth a total of roughly $7.2 million, in the blink of an eye. The CEO of Binance who hosted the sale summed it up on Twitter…

Personally, I try not to take part in ICOs and IPOs but what I did want to highlight here is the atmosphere surrounding this event. Indeed, the enthusiasm on social media and the ensuing frenzy when the site was overrun with traffic was strongly reminiscent of the exuberance that gripped the crypto market in 2017.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Perhaps this is a sign of good things to come of a market that is willing to take calculated risks on projects that people believe in yet at the same time quick to reject projects that don’t add value.

@MatiGreenspan
eToro, Senior Market Analyst

Today’s Highlights

Days to next Shutdown: 17 | Days to Brexit: 59

Earnings Season Continues

USDT Takes 4th Place

Please note: All data, figures & graphs are valid as of January 29th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

A series of votes in the UK Parliament today could very well give us some fresh insight into how Brexit will play out.

Things are getting pretty confusing now and rather than taking three long paragraphs of your time, I’ll simply refer you to this video where the BBC gives a surprisingly comprehensive overview of the current situation.

In any case, we can watch the drama and the market’s reaction this evening. There’s an increasing feeling that sterling traders have become complacent to Brexit risks, especially now that the government seems to be making contingency plans for a no-deal Brexit.

The GBPUSD is now trading above its 200-day moving average (blue) and near the top of the range that it’s been building for the past six months (yellow lines).

Earnings Drama

Things didn’t go so well for Nvidia or Caterpillar. Both companies reported earnings below analysts expectations and both have blamed the economic slowdown in China for their shortcomings.

The two companies opened the day with a sizable gap downward, which ended up putting a damper on the US session.

Today we’ll see another three dozen or so companies reporting their earnings. The big one, of course, will be Apple who is reporting after the market closes tonight. Tim Cook has already prepared the market in advance for a disappointing figure and no doubt many analysts have already lowered their expectations. Who knows, maybe they’ll even surprise for the good.

The United States will also be reporting their consumer confidence figures shortly after the opening bell, which may shake things up as well.

Stablecoin in 4th Place!?

The crypto space was shocked yesterday afternoon to see the stablecoin known as Tether (USDT) take 4th place in the market cap rankings.

As we’ve mentioned many times before, the market cap metric is not a great way to measure the value of cryptoassets but seeing USDT rising up the ranks so quickly can be a very telling sign of investor sentiment.

Generally speaking, if traders are fearful of volatility in the crypto market and want to reduce exposure, the default option at many exchanges is to hold the money in USDT.

To be clear, this is neither a bullish nor a bearish signal, it just means that traders are taking their foot off the gas for a bit. In this graph from tradingview.com, we can see that short positions on bitcoin (blue line) have come down pretty drastically over the last two months whereas long positions (red line) haven’t increased by much.

Indeed, Tether’s market cap has grown during this time frame but if we zoom out even just a little bit we can see that USDT market cap has been higher than it is now.

A neutral position could very well be a sign of good things to come as it might just signal that the bears are finally letting up.

Let’s have a fantastic day ahead!


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. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared to utilize publicly-available information.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Cryptoassets 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 cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

Best Bitcoin Casinos: Top New Crypto Casinos In 2023

Best Bitcoin Casinos: Top New Crypto Casinos In 2023

2 days ago
10 Best Crypto Casino Sites For Playing Bitcoin Games In 2023

10 Best Crypto Casino Sites For Playing Bitcoin Games In 2023

3 days ago
Best Online Casinos For Real Money: Top Casino Sites 2023

Best Online Casinos For Real Money: Top Casino Sites 2023

3 days ago
Best Bitcoin Casinos & Crypto Gambling Sites 2023

Best Bitcoin Casinos & Crypto Gambling Sites 2023

4 days ago
Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

1 week ago
DCG

Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets

2 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Is Aptos (APT), Solana (SOL), or Snowfall Protocol (SNW)...

    21 hours ago
  • Hector Network launches its NFT marketplace on Fantom...

    21 hours ago
  • Fantom (FTM) launches ecosystem vault to finance dApp...

    22 hours ago
  • Esports Driving the Advancement of Cryptocurrency in Sports...

    2 days ago
  • Connecting the dots on $PAW. Is Ryoshi back?

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.