The news has been buzzing with speculation surrounding Kim Jung-un, leader of North Korea. He missed the countrys Day of the Sun event on April 15, an important national holiday celebrating the Eternal President Kim Il-sung.

Since then, many have speculated that Jong-un might be dead. China has reportedly dispatched a team of medics to tend to Kim Jung-un after botched heart surgery [Fox News].

If the rumors are true, then North Koreas stability is in serious jeopardy. All the serious geopolitical implications notwithstanding, the country also holds a massive cryptocurrency stash. It may sell these assets off quickly if the leadership feels it is under threat.

In August 2019, a UN SecurityOnce you've bought or received bitcoins; you now need to keep them as safe as possible. This guide will provide... More Council Report estimated that the pariah state has stolen some $2B in cryptocurrency since 2015. It was even using these funds to bankroll its nuclear weapons program.

Its unclear how much cryptocurrency the country currently holds, but it is thought to be very significant and upwards of $670 million.

The fate of this cryptocurrency treasure trove may now be uncertain. In fact, according to some commentators, it may even be sold off on the market en masse.

However, many seemed to scoff at the idea. Most repliers the tweet saw it as an absurd scenario that could never happen. As one user jokes, North Korea also possesses uranium minesdoes that mean Kim Jung-Uns death will cause a selloff of uranium as well?

However, it should be noted that comparing uranium to Bitcoin is apples and oranges. Bitcoin can easily be sold off since it is a digital asset; uranium, on the other hand, would need to be physically moved.

North Koreas uranium supply also has little to no impact on global markets. The impact North Korea has had on the global cryptocurrency market historically, however, seems to be more significant.

Still, it seems unlikely North Korea would selloff its cryptocurrency holdings unless it was really desperate. We will have to see how the leadership of the country responds to this current crisisand whether the rumors surrounding Kim Jung-Uns death are even true at all.

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As a leading organization in blockchain and fintech news, BeInCrypto always makes every effort to adhere to a strict set of editorial policies and practice the highest level of journalistic standards. That being said, we always encourage and urge readers to conduct their own research in relation to any claims made in this article.This article is intended as news or presented for informational purposes only. The topic of the article and information provided could potentially impact the value of a digital asset or cryptocurrency but is never intended to do so. Likewise, the content of the article and information provided within is not intended to, and does not, present sufficient information for the purposes of making a financial decision or investment. This article is explicitly not intended to be financial advice, is not financial advice, and should not be construed as financial advice. The content and information provided in this article were not prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making any investment decisions. The author of this article may, at the time of its writing, hold any amount of Bitcoin, cryptocurrency, other digital currency, or financial instruments including but not limited to any that appear in the contents of this article.

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North Koreas Alleged $670M Cryptocurrency Stash in Question Amid Rumors of Kim Jong-Uns Death - BeInCrypto

Cryptocurrency CRO token of crypto payments provider Crypto.com will be listed on CoinDCX exchange. The cryptocurrency exchange and liquidity aggregator on Tuesday announced that it will be traded in two pairs -- CRO/BTC and CRO/INR -- which means Indian traders on the exchange will be able to buy or sell CRO token in exchange of BTC (Bitcoin) or Indian rupee.

Following the successful listing of the MCO token on CoinDCX earlier this month, CRO listing marks Hong Kong-based Crypto.coms official entry into the Indian market.

With the integration of MCO and CRO on to the CoinDCX exchange, the bourse bolsters its crypto-based financial services offering, CoinDCX said in a statement.

Speaking on the listing, Sumit Gupta, CEO & co-founder of CoinDCX, said: At a time when we are witnessing unprecedented growth in the use of cryptocurrencies in India, there is a need to provide users with an extensive range of crypto-based financial services that can ensure the faster, simpler, and uninterrupted flow of capital. We are thrilled that CRO is entering India, through our platform, which will help nearly 1.3 billion people in crypto trade CRO through INR.

This is also an amazing opportunity for us to encourage more people to enter the crypto market through our ongoing #TryCrypto initiative.

While the MCO token features key payment and finance utilities within the Crypto.com ecosystem, CRO token is primarily used for settlements on Crypto.com chain, enabling transactions worldwide between merchants and cryptocurrency users in a seamless, secure and cost-efficient way, it said.

By using CRO as an intermediary currency on the Crypto.com Chain, participants customers, merchants, crypto customer acquirers, and merchant acquirers can convert their cryptocurrencies to their fiat counterparts at a much-reduced cost, said Neeraj Khandelwal, co-founder of CoinDCX.

The combination of MCO and CRO creates a full-service, global system that encourages the adoption of cryptocurrencies that is inspired by real-life use cases.

In 2019, CRO token and the Crypto.com Chain project had made headlines based on the tokens dramatic price increases.

More:
New cryptocurrency 'CRO' to list on CoinDCX crypto exchange, to be traded in two pairs - CNBCTV18

CryptoDiffer released a report based on data from Staking Rewards on Apr 24, detailing the crypto-assets employing Proof of Stake (POS) consensus mechanism and their ranking, based on the percentage of the circulating supply and the resultant USD value of the staked cryptocurrency. The combined value of all staked tokens has now reached $5.8B. The top 8 crypto-assets in staking have at least $100M value locked.

STATE OF THE STAKING

Top 7 projects have at least 100M value of USD locked in Staking each$XTZ @tezos$EOS @block_one_$ATOM @Cosmos$ALGO @Algorand$DASH @DashPay$TRX @TronFoundation$XEM @NEMofficial

Data from @StakingRewards pic.twitter.com/nL0OKHKMIA CryptoDiffer (@CryptoDiffer) April 24, 2020

According to the data, Tezos (XTZ) clinched the top spot with 95.4% supply locked with an estimated current value of $1.38B. EOS (EOS) managed the second spot with 64.7% supply locked currently worth $1.14B. Cosmos (ATOM) came third with 77% supply locked with an estimated worth of $465.5M. Algorand (ALGO) bagged the fourth position with 60.8% supply locked currently worth around $382M. Dash (DASH) was fifth with 48.2% supply locked worth $48.2M.

Tron (TRX) managed sixth position with 38.8% supply lockedworth $351.1M. NEM (XEM) came seventh with 39.1% supply locked worth $133.7M.Synthetix Network Token (SNX) was the eighth one with 85.7% supply locked worth$104.5M.

Proof of Stake (POS) is a consensus mechanism, which takes into account the credit or shares of a participants to determine if they can authenticate transactions and generate blocks. The extent to which they are allowed to contribute and earn rewards, in exchange of securing the network, is determined by the number of tokens they have staked. The staking mechanism is both resource efficient and better in performance. Further, it reduces the circulating supply of a crypto-assets, by incentivizing users to hold it as collateral for securing network, resulting in locking up of available supply and rise in value of existing free tokens.

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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

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CryptoDiffer released new data on Apr 24 detailing the comparison between the average holding time period of different crypto-assets. The

CoinGecko - the crypto analytics and data aggregator platform published a survey recently, detailing the high optimism in the cryptocurrency

Binance - the world's leading digital currency exchange announced on Apr 18 that it has completed the 11th quarterly BNB

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Cryptocurrency Staking : Tezos Leads With $1.38B Locked, EOS Second - CryptoTicker.io

CryptoDiffer released new data on Apr 24 detailing the comparison between the average holding time period of different crypto-assets. The list was curated based on top 15 crypto-assets, which are popular on Coinbase. The data revealed that 0x (ZRX) is the longest held cryptocurrency at 137 days, Litecoin (LTC) came second with an average holding period of 130 days and Ethereum came third at 106 days. Ethereum Classic (ETC) took the fourth position at 98 days and Bitcoin (BTC) surprisingly could manage only the fifth position at 94 days.

TOP 15 Cryptocurrencies according to @Coinbase users in April@0xProject remains to be the leader with 137 days of holding period. @LitecoinProject and @ethereum still have the holding period > 100 days$BTC $ETH $LTC $BCH $XRP $XLM $BAT $ZRX $EOS $XTZ $ETC $LINK $DAI $OXT $ZEC pic.twitter.com/be41dVCZJH CryptoDiffer (@CryptoDiffer) April 24, 2020

On the contrary, the shortest holding period was 2 days for the Dai Stablecoin (DAI), Orchid (OXT) came second at 5 days average holding period. EOS (EOS) managed third position with 8 days. Basic Attention Token (BAT) and Tezos (XTZ) jointly shared the fourth position at 29 days. Stellar (XLM) bagged the fifth position with 35 days.

The average holding time period is a significant indicator of investorss confidence or lack of it, in any project. Generally, the more confident and trustful people are about a project, the longer they hold it for, hoping for further increase in the value and price of a project. On the contrary, the more unconfident and distrustful people are about a project, the shorter they hold it for, fearing a further decrease in the value and price of a project.

However, there are exceptions. For instance, DAI is a stablecoins, they are by the nature of their utility, act as a precursor for other activity and hence arent generally held for long. Further, the coins with staking or masternode feature are also kept for long periods of time, since they return profits in exchange for a holders contributions to the network.

In order to support and motivate the CryptoTicker team, especially in times of Corona, to continue to deliver good content, we would like to ask you to donate a small amount. Independent journalism can only survive if we stick together as a society. Thank you

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This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! 🙂

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors.CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.

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Dash yearly halvening occurred on Apr 27 4:31:33 pm UTC at Block 1261441, reducing block rewards by 7.14% (1/14th). The

Ontology announced on Apr 25 that it has entered a partnership with Bidaochain. It also said that ONT can be

The DigiByte (DGB) price has increased by nearly 640 percent in the past six weeks. Is DigiByte in a bull

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0x Is Now The Longest Held Cryptocurrency, Litecoin And Ethereum Follow - CryptoTicker.io

Overview

The cryptocurrency sector has been in existence since 2009, the year Bitcoin (BTC), the top crypto based on market capitalisation, came into being.

Eleven years down the line, cryptocurrencies are now a part of modern society, with their number surpassing 3,000.

Cryptocurrency projections are crucial in distinguishing the profitable cryptocurrencies, based on optimal return on investment (ROI). As a result, cryptocurrency prices predictions are fundamental in determining what crypto coins to invest in 2020.

The coronavirus pandemic has been wreaking havoc so far this year, and this has triggered shocks in the financial markets. On March 12, commonly referred to as Black Thursday, the global markets nosedived, and cryptocurrencies were not spared.

For instance, Bitcoin lost 50 per cent of its value as its price reached $3,800. Since, it has witnessed a steady increase as it is currently trading at $6,856.

2020, therefore, seems to be a bright year for cryptocurrencies based on the strides being made by Bitcoin. For instance, payment giant Visa (V) recently partnered with Fold, a crypto startup, to provide a credit card where consumers will be rewarded with Bitcoin for spending in major companies and outlets like Uber (UBER), Amazon (AMZN), Airbnb, Nike (NKE), Dominos (DPZ) and Starbucks (SBUX). This move seeks to propel Bitcoins mainstream adoption.

Cryptocurrency forecasts have been rife, and 2019 proved to be a great year in the crypto space. For instance, cryptocurrency adoption skyrocketed as compared to the previous year.

Despite cryptocurrencies performing commendably in 2019, some stood out as better compared to others, and their bullish run continues in 2020.

Bitcoin continued its dominance as one of the best crypto performers in 2019. It started the year at $3,742 and reached an all-time high of $12,407 in June 2019. Its overall performance was outstanding because it closed the year at $7,293, up by 95 per cent.

One of the factors that prompted Bitcoins commendable performance was that crypto exchanges boosted its adoption through margin trading. As a result, BTCs trading volume was elevated.

At the time of writing Bitcoins price stood at $7,161.

Bitcoin Cash proved to be another significant player in the crypto space in 2019. BCH is a hard fork of Bitcoin meaning; it was crafted out of the leading cryptocurrency. Its price stood at $135 in mid-January 2019, and an all-time high of $480 was witnessed on June 26.

By the end of December 2019, BCH was hovering around $210, representing a 55.5 per cent hike. Presently, Bitcoin Cash is trading at $233.

Being one of the best crypto performers in 2019, NEO acts as both a cryptocurrency and an open-source platform that developers use to create decentralised applications or Dapps. Neo is currently ranked at position twenty-two among the leading cryptocurrencies according to CoinMarketCap.

NEO emerged as one of the best performing crypto based on the blockchain ecosystem it offers developers. During the start of 2019, it was trading at $7.5, but it closed the year at $9, up by 20%. Presently, its price stands at $7.45.

The coronavirus pandemic has compromised the start of 2020 as it has necessitated measures such as lockdowns, social distancing, and quarantines for it to be curbed.

There is no doubt that the Covid pandemic has made the global economy plummet, as many sectors have halted to a standstill. As a result, governments have found themselves being forced to incorporate solutions such as quantitative easing and zeroing interest rates.

Cryptocurrency predictions show that this may be an advantage for the crypto space as typically printing money devalues a currency, and inflation becomes inevitable. Cryptocurrency predictions 2020 have quite a positive spirit, in spite of the terrible circumstances.

Now, you may be asking yourself what crypto coins to invest in 2020 amid the tough times being witnessed across the globe. To answer this question, below, we have compiled a list of digital coins with the best cryptocurrency forecasts.

Coronavirus affects markets

Bitcoin has been setting the ball rolling in the crypto space as it has proven to be one of the best crypto performers over the years. A BTC bullish run is expected in 2020 based on the much-anticipated Bitcoin halving event that is approximately four weeks away. This is an occasion that happens after every four years, and mining rewards are reduced by 50 per cent, hence decreasing the rate of the supply of Bitcoin.

During this years halving event, the mining reward will be reduced from 12.5 BTC to 6.25 BTC. Judging from the previous two halving events that happened in 2012 and 2016, Bitcoins price is speculated to increase because supply reduces and demand rises.

Following the Bitcoin halving in 2016, a bull run was experienced, and BTC set a new record in December 2017 after hitting $20,000. Investors are optimistic a similar trend will be witnessed in 2020.

One of the bedrocks of any asset is scarcity, and this is presented by Bitcoin halving events as supply is slashed. It is the reason why pundits are betting for BTCs price to skyrocket in 2020.

Additionally, some analysts are optimistic that the decision by the Federal Reserve (Fed) to print more dollars to the tune of $6 trillion to enable the American economy to stay afloat will be advantageous to Bitcoin as it will attract more interest from people as the dollar will depreciate.

These cryptocurrency projections seem to make Bitcoin an ideal investment vehicle in 2020.

Over the years, Ethereum has almost played catch-up with Bitcoin. Along with Bitcoin, ETH is one of the best crypto performers. After all, it is favoured for its blockchain ecosystem that enables developers to create smart contracts and dapps.

Currently, the price of ETH stands at $170, and it has witnessed a spike in the first quarter of 2020, hitting a high of $281 in February.

Based on the latest cryptocurrency prices predictions, Ethereum will be among the best performing crypto in 2020, as investors are staking on its transition from the Proof of Work (PoW) network to a Proof of Stake (PoS) blockchain that will make generation of the currency less cumbersome.

Ripple, the third cryptocurrency standing at $0.1875, is a notable investment in 2020 because of its robust network. It has emerged to be a formidable force in payment, banking, and international commerce systems.

Ripple funded MoneyGram, a remittance guru, a whopping $11 million in 2019, for it to utilise its blockchain-based payment network. Cryptocurrency forecasts show Ripple services are being sought after by reputable companies making it an ideal investment asset in 2020.

NEO breaks many stereotypes as it is the first open-source cryptocurrency. As a result, it has the capability of transforming existing financial networks by intertwining real and digital assets.

These cryptocurrency projections place it as one of the best crypto performers of 2020.

When you ask yourself what crypto coins to invest in 2020, cryptocurrency price predictions can be part of the research you do to make your decision. Bitcoin, Ethereum, Ripple and Neo are touted to be among the best performing crypto this year.

If you think you are not ready to make long-term investment commitments, but still want to try to profit from the crypto volatility, you can do so through contracts for difference (CFD).

You can learn more about CFD trading with free online courses and find out how to trade crypto CFDs by reading our comprehensive guide.

Join Capital.com to always stay up to date with the latest crypto price news and spot the best trading opportunities.

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Cryptocurrency predictions: what coins to choose in 2020? - Capital.com

While the global financial markets were melting down as coronavirus spread throughout the planet, there was one cryptocurrency that managed to weather the storm.

Numeraire, an altcoin brought to life to incentivize scientists to predict financial models using encrypted data, was able to enter a parabolic advance that has seen its price skyrocket over 3x in the past three months. The AI-centric cryptocurrency went from trading at a low of $6 in late January to recently hitting a high of $24.

The bull run that NMR experienced in such a short period of time is quite impressive given the current economic environment. However, everything could be part of a pump-and-dump scheme, according to Santiment.

The behavior analytics firm argued that Teeka Tiwari and his Palm Beach Research Group could be behind Numeraires sudden bullish impulse.

Dino Ibisbegovic, head of content and SEO at Santiment, explained:

As part of his Palm Beach Confidential programme, last month Teeka picked 5 coins that he believes will make you a multimillionaire. According to multiple people, NMR was included here as well Teekas coin picks often have a way of becoming a self-fulfilling prophecy, as PBC hopefuls swarm to buy the suggested tokens in bulk, making their charts look like its 2017 all over again.

Even though it is impossible to determine how much of the pump can be attributed to Tiwari, on-chain data reveals that one massive whale was preparing for this price action.

Indeed, a few weeks before Numeraire began surging there was a significant spike in the tokens exchange inflow. One address sent 100,000 NMR, worth roughly $620,000 at the time, to a Bittrex wallet on Jan. 26.

This transfer represents one of the biggest single-day moves in Numeraires history, affirmed Ibisbegovic.

Now that the AI-focused altcoin is up more than 300 percent, there are not any fundamental metrics that support a further increase in its price.

Ibisbegovic pointed out that the number of active addresses is declining as well as the network growth. The downtrend in these on-chain indexes can be considered as a negative sign.

Ibisbegovic said:

Unless the coins on-chain activity makes a strong u-turn in the very near future, its going to be increasingly difficult for the coin to support a sustained rally.

Given the state of Numeraires network, the entities behind the exponential upswing could now be preparing to dump their tokens as Marcel Burger, founder of digital assets consultancy BurgerCrypto.com, stated:

[Its] time to get rid of some NMR here. Was a nice ride. Happy to buy back in at lower levels again. Numerai is still one of those projects I really like, but thanks to palm beach confidential pumping it, I rather sell here to buy back lower.

Even if NMR continues surging, market participants must remain cautious about what is happening behind closed doors to avoid getting caught on the wrong side of the trend.

Numeraire, currently ranked #75 by market cap, is up 5.33% over the past 24 hours. NMR has a market cap of $54.33M with a 24 hour volume of $995.55K.

Chart by CryptoCompare

Numeraire is up 5.33% over the past 24 hours.

See the article here:
This AI-focused cryptocurrency is up 300%, but on-chain fundamentals spell trouble - CryptoSlate

Cryptocurrency experts believe that Bitcoin is well-positioned for a strong rally ahead and after the halving. The highly anticipated event will take place in the middle of May and result in Bitcoin's block reward reduction. Halving is scheduled to place every 210,000 blocks or every four years until the maximum supply of 21 million bitcoins has been created by the network.

According to Mati Greenspan, the founder of financial advisory outfit Quantum Economics, Bitcoin will outperform traditional assets due to the upcoming halving and flow of money injected in the financial system.

Bitcoin has been the best performing asset by far over the last year and over the last decade. With all the money being injected into the system at this time and the upcoming halving, I don't see any reason it wouldn't continue to outperform, he said as cited by Forbes.

BTC/USD has been trading above $7,500 since Friday, April 24. The price of the first digital coin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Satruday. As the upside momentum has faded away, BTC/USD bulls need to take out $7,600 to get the recovery back on track.

ETH/USD recovered from the intraday low of $186.04 to trade at $194.40 by press time. The second-largest coin has gained over 3% both on a day-to-day basis and since the beginning of the day amid short-term bullish sentiments and high volatility. The next critical resistance is created by psychological $200.00.

XRP/USD broke above the upper range of the recent consolidation channel $0.1800-$0.1900 and settled at $0.1952 at the time of writing. The coin is moving within the short-term bearish trend in sync with the market. The volatility is high.

Original post:
Cryptocurrency Market Update: COVID-19 crisis can take BTC to the moon - FXStreet

Investors appear to be growing optimistic about the future of the cryptocurrency market, which could lead to more upside price momentum. Key Takeaways

The cryptocurrency market is back in the spotlight after a bullish impulse pushed up prices for most digital assets. Indicators show further upward potential for Ethereum, XRP, and Litecoin, though important resistance levels are holding them down.

Since the Mar. 12 crash, Ethereum has been making a series of higher highs and higher lows. The bullish momentum has taken its price up more than 117%.

The smart contract giant surged from a low of $90 to a recent high of $190.

Despite the substantial price recovery over the last month, the TD sequential indicator estimates that Ether may have more upwards potential.

This technical index presented a buy signal the moment the current green two candlestick began trading above the preceding green one candlestick. If the bullish formation is validated by a further spike in demand, ETH could enter an upward countdown all the way up to a green nine candlestick.

Such a positive scenario seems likely given the amount of interest returning to the cryptocurrency industry, especially as Bitcoins halving event approaches.

Nonetheless, IntoTheBlocks In/Out of the Money Around Price model suggests that for Ether to continue reaching higher highs it would first need to move past the $200 resistance level. Approximately 1.2 million addresses bought nearly 7.8 million ETH around this price level.

An increase in the buying pressure behind Ether could allow it to break above this massive supply wall. If this happens, the bulls will likely take control of ETHs price action, validating the outlook presented by the TD sequential indicator.

Under such circumstances, the next levels of resistance to watch out are provided by the 127.2% and 161.8% Fibonacci retracement levels. These resistance barriers sit around $223 and $260, respectively.

Although everything seems to indicate that Ethereum has more room to go up, the global economic environment tells otherwise. Thus, an important support level to pay close attention to sits around the 78.6% Fibonacci retracement level and the rising trendline.

A daily candlestick close below $172 may invalidate the bullish outlook and increase the odds of a further decline towards $155 or $142.

For the first time since December 2018, the TD sequential setup suggests that it is time to buy XRP based on the 1-month chart. This technical indicator presented a bullish signal in the form of a red nine candlestick that has morphed into a green one candle due to the price action seen this month.

If Mays candlestick manages to move above Aprils monthly close, the bullish formation would likely be validated. This would indicate that XRP may surge for one to four monthly candlesticks or begin a new upward countdown.

Adding credence to the bullish outlook, the parabolic stop and reverse, or SAR, presented a buy signal on XRPs 1-day chart. Every time the stop and reversal points move below the price of an asset, it is considered to be a positive sign.

The parabolic SAR flip estimates that the direction of the trend for the cross-border remittances token changed from bearish to bullish.

Now, XRP would have to close above its 75-day exponential moving average to continue advancing further. By turning this resistance level into support, the odds for a move towards the 200-day exponential moving average, which sits around $0.23, increases substantially.

It is worth mentioning that XRP has been in a multi-year downtrend since the January 2018 peak. Since then, this altcoin is making a series of lower lows and lower highs. As a result, until it closes above the Feb. 15 high of $0.35, every bullish signal must be taken with caution.

Like the altcoins previously mentioned, Litecoin is also signaling that it is ready to resume its uptrend and climb higher. However, the 50-day exponential moving average is holding strong, preventing LTC from achieving its upside potential.

Since the beginning of the month, this barrier has been able to reject the price of Litecoin twice. Considering that resistance weakens the more times it is tested, sooner or later it could turn into support.

Breaking above the 50-day exponential moving average might send LTC towards the 100 or 200-day exponential moving average. These resistance levels sit at $49 and $54, respectively.

On the downside, however, investors pay close attention to the 23.6% Fibonacci retracement level since failing to hold could jeopardize the bullish outlook.

An increase in the selling pressure behind LTC that allows it to close below this support level could trigger a sell-off among market participants. Such a bearish impulse would likely send Litecoin down to try to find support around $39.

Regardless of the havoc that the pandemic has caused in the global financial markets, investors appear to be growing optimistic about what the cryptocurrency industry has to offer. Now, even Bloomberg analysts are bullish on Bitcoin, stating that this year it could transition toward a quasi-currency like gold.

The TIE has also seen an impressive rise in the number of Bitcoin tweets mentioning the halving. The cryptocurrency insights provider affirmed that halving mentions on Twitter surged over 63%. Meanwhile, the overall conversations on social media about BTC are up 6%.

As the block rewards reduction event approaches, the focus appears to be shifting towards Bitcoin. Nonetheless, the high levels of correlation in the cryptocurrency market suggest that an increase in the price of the flagship cryptocurrency could see the entire market following suit.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

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Ethereum, XRP, Litecoin Turn Bullish on Bitcoins Strong Performance - Crypto Briefing

Apr 25, 2020 at 09:29 // News

As cryptocurrencies and blockchain technology gain root in the world, governments are becoming more involved in the industry through taxation.

Various countries have expressed various moods to cryptocurrencies. The truth is, cryptocurrencies have taken the world by storm, after it first launched in 2009 and grew a hundredfold in a short span. Many countries are still in the process of developing laws that touch every aspect of the crypto industry, including taxation. Given the volatile and virtual nature of cryptocurrencies, it has been a bit of a challenge to policymakers to cover it in full.

For instance, the United States now wants every citizen with savings in their cryptocurrency wallets to pay an income tax. The US Internal Revenue Services (IRS) sent at least 10,000 emails to cryptocurrency users urging them to clear off their taxes, as coinidol.com, a world blockchain news outlet, has reported.

Recently, Singapore has also joined the league of countries presently imposing some sort of fiscal policy to guide the crypto industry in the world. The Inland Revenue Authority of Singapore (IRAS), in a 14-paged statement titled Income Tax Treatment of Digital Tokens released on its official site on April 17, 2020, clarified on a number of income tax treatments for transactions involving digital tokens. The same modification also touched Initial Coin Offering (ICO) operations.

The good news is that the countries that are regulating cryptocurrency operations through fiscal policies are not totally banning the use of such tokens, but want some return. Most countries are friendly to cryptocurrency in this or that way. According to the list of the most tax-friendly countries for cryptocurrency, compiled by Law & Trust international law firm, Australia has the best taxation climate for the growth of the industry, followed by Argentina, Belarus, Bulgaria and the UK.

Generally, governments are concerned about the issue of cryptocurrency taxation. Without a proper framework, cryptocurrency might be used for concealing profits and avoiding being taxed, which is good for the shadow economy growth.

The implication of such moves on the cryptocurrency world either be negative or positive. Supportive fiscal policies will see a boom in crypto investment, while stricter rules lead to reduced investments. For instance, Singapores waiver on some cryptocurrency transactions is hoped to attract more interest in the crypto industry. Moreover, the stricter management of transactions by ministry could also help reduce cybercrime involving cryptocurrencies.

Notwithstanding the recent government interventions, cryptocurrencies are here to stay and the growth of digital currencies is inevitable.

Original post:
Taxes Revolutionizing the Cryptocurrency Industry, Singapore Sets New Rules - Coin Idol

Tezos (XTZ) continues to impress analysts as its price recovers rapidly from the crypto-wide crash in March.

The digital asset is trading at $2.37 at time of writing, up from around $1.36 in mid-March. A pseudonymous analyst who goes by the name Teddy tells his 30,000 followers on Twitter that Tezos is now flat out defying the laws of gravity.

Fellow analyst and Cointelegraph contributor Michal van de Poppe says the asset is currently battling an important line of resistance. If it can break through, a move to $2.60 could be in the cards. If not, a correction is likely in store.

Tezos is a smart contract proof-of-stake blockchain designed to allow holders of the coin to help power the network and earn rewards in return. XTZ is currently the 10th largest crypto asset by market cap, according to CoinMarketCap.

Weiss Rankings also recently ranked Tezos first among 120 cryptos in terms of technology, beating out leading cryptocurrencies like Bitcoin, Ethereum and XRP.

As Tezos and other assets continue to recover from Marchs Covid-19-related plummet, crypto whales appear to be accumulating Bitcoin at levels not seen since 2017.

The number of trading entities holding at least 1,000 BTC increased prior to the price drop last month and then accelerated during and after the crash, according to crypto analytics firm Glassnode.

Researchers say this is an optimistic sign that the largest crypto investors on the ledger believe BTC is poised for further growth. Analyst Cole Carner agrees.

Meanwhile, analyst Josh Rager saysBTC is still significantly correlated with the stock market, and a plunge in traditional markets could trigger another move to the downside.

BTC still moving steady with stock market. Again, not a 1:1 correlation, but no reason to draw $2k to $3k BTC meme charts. Unless the S&P 500 tanks, Bitcoin will hold above $6k. Potential future pullbacks in both markets but until stocks drop, Im not bearish on Bitcoin price.

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Analyst Says One Cryptocurrency Is Defying Laws of Physics As Bitcoin (BTC) Whales Rise in Record Numbers - The Daily Hodl