A resurgent bitcoin is rekindling Indian interest in cryptocurrencies with reports suggesting many dormant holders are back to trading.

A report in Livemint is also attributing the piqued interest to a recent Indian supreme court decision to overturn a prohibition that barred banks from dealing with cryptocurrency exchanges. The ban was imposed by the Reserve Bank of India (RBI) in April 2018.

Nischal Shetty, founder and CEO of Wazirx, a cryptocurrency exchange in India, says they are witnessing a renewed excitement.

Shetty said bitcoins price, which breached the $11,000 mark on Tuesday, resulted in Wazirx seeing a big jump in our trading volume.

Another expert, Sumit Gupta, a co-founder and CEO at Coindcx, another cryptocurrency exchange, offers a different take for the current interest in bitcoin.

According to Gupta, the surge in bitcoin prices comes amid a rush for safe-haven assets that are considered alternatives to cash and stocks. The decreased supply of available bitcoin following the halving event in May is another factor behind the price rally.

Prior to the halving, the bitcoin block reward was 12.5 bitcoins but this was reduced further to 6.25 bitcoins. This means fewer bitcoins have been released onto the market to date when compared with the same period last year.

Another expert, Ajeet Khurana, a member, Blockchain and Cryptocurrency Committee of the Internet and Mobile Association of India (IAMAI), focuses on market participants in his explanation for the price surge.

He explains:

The common investor in any asset class is primarily driven by asset price inflation. The trader in an asset class is driven by volatility, and expects to make money on price movements in both directions. For both of these, bitcoin has been a delight in the recent past.

Khurana also believes that crypto investors do not invest in other asset classes. Therefore, the rise in bitcoin prices could fuel a surge in crypto market participants, both investors and traders.

In other words, the cult-like following of cryptocurrency gets strengthened when there is a rally in its prices.

Meanwhile, India still does not have a regulatory framework for cryptocurrency some four months after the supreme court ruling. In addition, a draft government bill on cryptocurrencies seeks to criminalize the mere possession of cryptocurrency.

Subhash Chandra Garg, the former Finance and Economic Affairs Secretary of India, told an Indian crypto community earlier this month, that crypto assets should be regulated as commodities. Despite making these comments, Garg says he still stands by the current crypto bill.

Will clarity on crypto regulation further boost interest in bitcoin? Share your thoughts in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bitcoin Tops $11000 Reigniting Interest in India - Bitcoin News

This research report on the Global Cryptocurrency Market offers in-depth research about market conditions, market share, and market segmentation. This research report covers the complete landscape of this market with its growth prospects during the forecast period. In addition, the report also comprises a discussion of the major players operating in this Global Cryptocurrency Market. It also offers granular analysis of market segmentation, share, regional analysis, as well as revenue forecasts. Moreover, the Global Cryptocurrency Market report offers a basic overview of the market such as applications, definitions, classifications, as well as industry chain structure. This study is specially offered for the global markets including key region development status, development trends, and competitive landscape analysis. The report also focuses on the major regions such as North America, Europe, Asia Pacific, and MEA. Likewise, this report contains major drivers, opportunities, restraints, and threats for major vendors.

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ZEB IT ServiceCoinsecureCoinbaseBitstampLitecoinPoloniexBitFury GroupUnocoin Technologies PrivateRippleOKEX Fintech CompanyBitfinex

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Cryptocurrency Market Current Trends and Future Aspect Analysis 2020 2025 - Owned

Billionaire investor Michael Novogratz said global liquidity pump from stimulus packages will keep driving bitcoins price higher. He expects the price of bitcoin to reach $20,000 this year, fueled by retail investors shifting to the cryptocurrency.

Galaxy Digital CEO Michael Novogratz said on Tuesday that bitcoin and gold have more room to grow and will continue to rise due to global liquidity pump, afforded by governments stimulus packages, coupled with an influx of retail investors.

The liquidity story isnt going to go away. Were going to get a big stimulus, the billionaire investor told CNBC, adding that it doesnt look like the Federal Reserve is going to raise rates. After the CARES Act, the $2.2 trillion coronavirus aid stimulus package which President Donald Trump signed into law in March, Republicans and Democrats have both proposed further stimulus packages. The Democrats proposed the $3 trillion HEROES Act while the Republicans introduced the $1 trillion HEALS Act on Monday.

Furthermore, Bitcoin still has a lot of retail interest in it, Novogratz described, adding that he sees stock investors shifting back to gold and bitcoin.

Novogratz expects bitcoins price to be at $14,000 in the next three months, emphasizing that it could easily reach $20,000 by the end of the year. His year-end price prediction agrees with several others, including a comprehensive analysis by Crypto Research Report.

Bitcoin is currently trading at about $11,258, up approximately 17% since last week and 54% since the beginning of the year. Meanwhile, the price of gold hit an all-time high on Monday, climbing more than 7% since the beginning of the month.

Novogratz said most of his investments have been in bitcoin, gold, and silver. Noting that an estimated 20% of his net worth is in bitcoin, he added: I want it to go a lot higher. As for gold, he said it is more of a 5% position for him.

The billionaire investor further emphasized that he is starting to see institutional investors move into bitcoin. However, unlike gold investing, they face a learning curve when trying to invest in cryptocurrency. Bitcoin is still hard to buy. If it was easier to buy, it would be a lot higher, he previously said. Gold has been around for 3,000 years, its pretty easy to buy, Novogratz opined. Theres an adoption game in bitcoin that you dont have in gold. But I like them both.

Others have also reported seeing increased institutional demand for cryptocurrency, particularly bitcoin. Grayscale Investments said that in the second quarter, 84% of its almost $1 billion inflow into crypto investment products were from institutional investors. Moreover, famed hedge fund manager Paul Tudor Jones recently confirmed that he has almost 2% of his assets in bitcoin.

What do you think about Novogratzs prediction? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Novogratz: Global 'Liquidity Pump' Will Keep Bitcoin Rising, Price to Hit $20K This Year | Markets and Prices - Bitcoin News

KEY POINTS

The Securities Exchange Commission of Thailand has granted a license to ERXtrading platform to operate as a digital asset exchange, thus increasing the number of crypto exchanges in the country to six and the number of crypto platforms to 13.

The other digital asset exchanges in the country are Bitkub, BX, Huobi, Zipmex, and Satang Pro. The Royal Decree on Digital Asset Businesses of 2018 defines a digital asset exchange as a center for trading digital assets, operating by matching orders or by facilitating a person to enter into an agreement to buy a digital asset. BX is in the process of returning its licenses after discontinuing its service.

Digital assets may be cryptocurrency or digital token. Cryptocurrency can be used as a medium exchange created through an electronic system while digital token specifies the right of a person to participate in an investment or to a specific good or specific service. Of the six digital exchanges, only ERX does not deal with cryptocurrencies.

The three digital asset brokers licensed in the country are Coins TH, Bitazza, and Kulap. The SEC defines a digital asset broker as those who provide services dealing with "the holding or exchanging digital assets" outside a digital asset exchange. The main difference is that the digital asset exchange licensee can operate an order-book style trading platform. Of the three licensed digital asset brokers, Kulap is not yet operational while Coins TH only deals with cryptocurrencies and not with digital tokens.

Coins TH is also listed as a digital asset dealer, which is similar to the digital asset broker except that it can provide exchange and trade of digital assets for its own account.

SEC alsolisted fourinitial coin offerings (ICO) portals - Longroot, T-Box, SE Digital, and BiTherb. ICO portals are defined as a place for offering newly issued digital tokens. Of the four listed portals, only BiTherb is not operating.

The clarity of cryptocurrency regulation in Thailand made the country an ideal place for exchanges to set up operations in Southeast Asia. Huobi Thailand, for example, is the local platform for global exchange Huobi. Coins TH is the Thai platform of Philippine-based Coins.ph (now acquired by Indonesian unicorn Go-Jek).

The royal decreeeffectively classifies all crypto platforms as financial institutions. This classification allows the crypto platforms to partner with traditional institutions but also be hailed accountable and subjected to Thailands laws. For example, when Cash2Coins failed to secure a license for insufficient Know-Your-Customer (KYC) rules, it discounted its services within months.

A monk walks in front of a giant Buddha statue wearing a face mask at Wat Nithet Rat Pradit temple in Pathum Thani outside Bangkok Photo: AFP / Mladen ANTONOV

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Cryptocurrency Gets Strong Boost From Thailand, 13 Crypto Services Approved - International Business Times

As Bitcoin continues to skyrocket in price and momentum moves to large-cap coins, the crypto analytics firm Santiment reports that whales are rapidly accumulating the relatively unknown cryptocurrency Ren (REN).

Ren, which provides inter-blockchain liquidity for decentralized applications, gained more than 350% in value since the beginning of April and hit its all-time high of about $0.199 on July 8th. It is currently ranked 64th among cryptos by market capitalization and trading around $0.168 at time of writing, according to CoinMarketCap.

Santiment utilizes a metric that examines the amount of tokens held by top non-exchange owners, otherwise known as whales. And that metric indicates whales have been purchasing REN for the last two months.

Santiment does note, however, that with Bitcoin trading around $11,000, the overall momentum seems to be favoring large-cap coins, which could push DeFi coins lower in the near term.

amongst the top 100 highest market cap crypto assets, 20 of the 30 projects that have had positive gains in the past day are in the top 40.

After the past couple months were all about DeFi and altcoins having all the fun, the narrative has quickly switched back to BTC and large-cap assets. This shift could be long lasting with our DAA and volume indicators supporting a movement toward top cap projects.

As for Ethereum, the second-largest cryptocurrency by market cap has been rising at a faster pace than Bitcoin. However, there are signs it may pull back in the short term, according to the analytics firm.

Santiment utilizes a metric called Daily Active Addresses (DAA) vs. Price Divergence, which comparesan assets price action to the number of unique crypto addresses interacting with that specific coin on a daily basis. The metric views price action that outpaces DAA as a bearish signal, and vice versa.

For the first time since the middle of June, Ethereum earlier this week saw a deficit in daily active addresses. Still, Santiment says the assets overall fundamentals remain strong:

Featured Image: Shutterstock/NanEstalrosa

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Whales Are Buying This Relatively Unknown Cryptocurrency As Money Moves to Bitcoin, Ethereum and Large-Cap Coins - The Daily Hodl

BTC whales have been moving large stacks of Bitcoins lately, triggered by the recent bullish momentum in the BTC market.

According to data obtained from BTCBlockbot, a crypto analytic tracker, an unknown whale moved 15,022 BTC in block 641,074, estimated to be roughly worth about $162 million, about 10 hours ago.

READ MORE: Over 900,000active Bitcoinwallets pushtransactions to3-yearhigh

It should be noted that Bitcoin is not really anonymous, because all BTC transactions are kept permanently and publicly on the blockchain or ledger system. This makes it very easy for anyone to see the transactions and balances of any BTC address.

According to data obtained from Coinmarketcap, Bitcoin traded at $11,000 with a market capitalization of $202 billion, at the time this report was drafted.

READ ALSO: Tether whales move USDT 110,000,000 in 1 hour

Quick fact: At the BTC market, investors or traders who own large amounts of cryptocurrency are typically called BTC whales. This means that a BTC whale would be an individual or business entity (with a single Bitcoin address) owning around 1000 BTCs or more.

As BTC whales accumulate BTCs, the circulating supply reduces, and this can weaken any bearish trend Bitcoin finds itself in. What this means in essence is that over time, as BTC approaches its fixed supply of 21 million, its possible that the price of BTC will go up, with BTCs present demand factored in.

READ ALSO: Bitcoin thieves move 3,897 BTC worth $42 million in 1 hour

Although it is difficult to predict market movements, Bitcoin whales have shown historically that they often determine Bitcoinstrend.

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Investors are rushing into cryptos, as market capitalization surges to $323 billion - Nairametrics

Ethereum (ETH), the worlds second most valuable cryptocurrency by market value, has more than doubled in value over the last four months. This has left BTC, the worlds flagship currency, in the dust.

Data from Coinmarketcap showed that Ether was trading around $293 at the time of this report, representing about 262% gain since March 12th, 2020, when it traded at $112. Its market capitalization presently at $32 billion.

In addition, ETH miners are smiling to the bank as data feed obtained from Glasscode has shown revenue from fees surging to an all-time high. On the hourly chart, Nairametrics observed that more than a third of the ETH miner revenue currently comes from fees rather than blocks; up from less than 5% in April.

READ MORE: BTC & ETH on pace to hit transactions worth $1.3 trillion in 2020

Recall that Nairametrics had earlier given valuable insight about Ethereums price action, revealing ETH was finally breaking out of its long $200-$250 daily close range, and that it was time to revisit its historical model that illustrated the number of times a daily close transition had occurred between psychological support levels.

ETH is sitting in its sweet spot where the most polarization has historically unfolded (between the $200 and $300 levels) during its five-year history. A close above $300 in the near future would be the 42nd instance of the price closing above or below it.

READ: Dogecoin gains 50% in less than 24 hours, highest single-day gain since 2017

ETH is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party. It is a decentralized system, fully independent, and is not under anyones authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means its almost impossible for ETH to go offline.

Like with many other crypto assets, speculating with Ethereum can be highly profitable and has had a good history of giving its investors huge returns. However, there are also many other options to make income from Ethereum. These options include Ethereum mining, Ethereum faucets, and ETH staking.

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Investors are now rushing into Ethereum, as gains surge by 262% in 4 months - Nairametrics

Blockchain has had a short but fascinating history. Though the general concept of the technology was outlined a few decades ago, it has only been in practice for a handful of years. And over the span of that briefhistory of blockchain, the defining achievement has undoubtedly been facilitating the launch of cryptocurrency. In this article, lets understand blockchain and how it can change construction.

Blockchain technology functions as a digital ledger that verifies, conducts, and keeps records of digital transactions. It is only via a system of this nature that bitcoin and now dozens (if not hundreds) of other cryptocurrencies can exist. These currencies are purely digital, and the blockchain essentially serves to make them legitimate, helping to establish their value and in a sense serving as a marketplace for their activity.

The initial idea was that bitcoin and other cryptocurrencies would become everyday alternatives to what we might refer to as ordinary money. This hasnt exactly panned out, though there are certainly ways to spend or transfer cryptocurrency via blockchain transactions. What weve really seen, though, is how quickly blockchain-related concepts can evolve. Even with regard to cryptocurrency specifically, one can argue that investment is now a more important function on the blockchain than actual spending.

Also Read: Benefits of Blockchain in IoT

Today, its common practice tobuy or sell cryptocurrencyas a means of investment. There are ways to do this without actual direct transactions, such a through CFD or futures trading. For the most part though, cryptocurrency trading occurs over the blockchain, with quantities of different assets being bought and sold in an attempt at financial gain. This alone shows how quickly and profoundly blockchains purpose can evolve, even with regard to cryptocurrency. In a matter of years, it has advanced beyond being a digital ledger, and is now effectively a trading platform as well.

Even as this change has happened in the cryptocurrency world though, the blockchain has evolved to suit other purposes as well. At this point in fact, there are numerous industries that are beingdisrupted by blockchain, including banking, real estate, healthcare, and others. And one more industry that doesnt always get as much attention, but which will absolutely be changed by blockchain, is construction.

Upon first thought, especially if you arent particularly familiar with blockchain, this might sound like an odd fit. We think of construction as a very hands-on industry with little to do with the digital world, and thus it doesnt naturally come to mind as a fit for blockchain disruption. The reality, however, is that there is a lot about this industry that blockchain might be more or less ideally suited for.

Also Read: How can unmanned flights be monitored with the help of blockchain

One article on this topic looked into blockchains potential toimpact constructionand pointed out some of the factors that could make the technology particularly useful. The article highlighted contractual processes and paperwork relating to building codes, safety regulations, and project management to say nothing of inventory control and any and all involved transactions. All of these things are vital to real estate projects, and all of them, in theory, could be moved to the blockchain. There, they would be at least partially automated, and its likely that a great deal of time would be saved (and hassle avoided).The basic idea here is that blockchain tech can be used to perform cause-and-effect functions. So, for example, a construction company can input a function that transfers funds to a supplier when the company receives material; it might organize agreements regarding safety and regulation to be digitally catalogued once all involved parties have signed. From these examples, you can begin to see how any number of necessary functions in a standard construction project might be made more exact and more efficient via the blockchain.

For the most part, this disruption hasnt quite taken effect just yet. With blockchain tech continuing to spread into new industries though, and with such clear potential benefits, construction is a likely candidate to integrate the tech in the near future.

Also Read: 3 quick benefits of using blockchain in the current healthcare system

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Blockchain and how it can change construction - Geospatial World

Leading blockchain analysis firm, Chainalysis, which recently secured $49 million in capital through a Series B round, announced on July 27, 2020, that it has launched Market Intel, its newly designed website for asset managers and regulatory agencies. The new site may be used to gain access to live data and insights on cryptocurrency transactions, and also the health and growth of the digital asset markets.

As mentioned in a release shared with Crowdfund Insider:

Market Intel is powered by Chainalysiss proprietary data, which the company has been systematically collecting and linking to real world entities since 2014.

Jonathan Levin, Co-Founder and Chief Strategy Officer, Chainalysis, said that the company was established to help financial service providers and world governments with gaining access to trusted data sources. Chainalysis aims to help financial institutions and regulators feel comfortable with cryptocurrency so that these alternative assets can achieve mainstream adoption.

Levin explained that Market Intel is the next logical step in realizing Chainalysis vision. He added the company aims to help asset managers and regulators by providing metrics and context for cryptocurrency transactions.

Chainalysis focuses on assisting its customers with leveraging the transparency of public blockchains so that they can make more informed, data-driven decisions about why and how to invest in cryptocurrencies and ensure the markets function safely and efficiently, Levin noted.

Financial crime and compliance professionals frequently use Chainalysis on-chain data, which aims to offer detailed insight into cryptocurrency activity that is conducted on the blockchain, in order to identify and investigate potentially fraudulent and illicit transactions.

As mentioned in the announcement:

Market Intel harnesses the same trusted dataset to provide insight into economic activity. While roughly $10 billion of cryptocurrency was transferred on-chain for illicit purposes in 2019, about that same amount is transferred on-chain every week for investment and trading.

Philip Gradwell, Chief Economist, Chainalysis, believes that decentralized cryptocurrencies are on their way to becoming a mainstream asset class, however, fund managers and regulatory authorities require reliable data and insight into whats really taking place in the crypto markets to meaningfully invest and effectively oversee the space,

Gradwell added:

With Market Intel, were leveraging our unique dataset to give an accurate and complete description of the real world use of cryptocurrencies, rather than providing partial, noisy data or focusing on technical blockchain metrics.

Chainalysis Market Intel offers daily on-chain metrics on cryptocurrency trading, demand, supply, generation, and the potential risk of cryptos. The software aims to identify what it considers the most important daily changes.

As noted in the release:

Insights include how much cryptocurrency is flowing to and from exchanges, how and where in the world cryptocurrency is moving, how long supply is held, the percentage of new assets going to exchanges, the percentage of transaction volume related to illicit activity, and more.

Market Intel is currently available only in beta mode for free. It allows users to access key metrics and insights on the Bitcoin (BTC), Ethereum (ETH), Tether USDT (on Bitcoin and Ethereum), Bitcoin Cash (BCH), and Litecoin (LTC) blockchains. Chainalysis said it will be introducing improvements and other features in the future.

The blockchain analysis firm is also introducing the weekly Market Intel Report, which is an email summary of the most important on-chain events and trends in cryptocurrency, focusing on their short-term implications for cryptocurrency markets and the long-term evolution of cryptocurrencies as an asset class.

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Chainalysis Introduces New Website, Market Intel, which gives Digital Asset Managers and Regulators Access to Meaningful Insight about Crypto Activity...

Bitcoin's price has remained steady,for months but it moved above the $10,000 mark on Sunday for the first time since June. It still remains some way off its December 2017 high of $19,166.

Coindesk, the cryptocurrency trading app, reported that the expectation of Bitcoin returning to that high has improved in recent months, with the probability of it breaching $20,000 before the end of the year placed at 7pc.

Joe DiPasquale, chief executive of cryptocurrency investor BitBull,said that there were significant changes in the way institutional investors viewed Bitcoin since March.

Now that institutions have moved into Bitcoin in 2020, the price has shown more support over the last couple of months, Mr DiPasquale said in an interview with Forbes.

We will not see a repeat of the March crash, but bitcoin will still remain somewhat more volatile than equities."

Crypto trading is becoming increasingly commonplace among investors with fintechs like Revolut offering the option for customers to buy into the currency.

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Bitcoin surges past 8,400 as investors look for 'safe haven' - The Telegraph