Connect with us

Bitcoin News

Great Success!!

Published

on

Hi Everyone,

We’ve got Tezos!!

Seems like a really cool blockchain. Like Libra, the Tezos company is headquartered in Switzerland. Unlike Libra their ICO in 2017 raised a record-breaking $232 million, though it was shrouded with controversy and plenty of drama.

The main focus of this unique blockchain is smart contracts and security token offerings, which is right in line with one of our goals in eToro to help tokenize all financial assets.

It does seem like they’re well on their way too. As recently as last month, Tezos partnered with Dalma Captial, one of Brazil’s largest banks, in a potential billion-dollar deal.

As far as price, it is one of the best performing cryptos this year with a total gain of 331% from January 1st until today. The token is also strongly positioned as one that will benefit greatly if we do see more crypto-friendly regulations in the United States.

@MatiGreenspan

eToro, Senior Market Analyst

Today’s Highlights

  • Dow Plunge
  • Yuan Devaluation
  • Successful Half
Please note: All data, figures & graphs are valid as of August 6th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

Following the Fed’s cut and the renewal of Trump’s trade war, markets have seen a sizable sell-off. Here we can see the Dow’s slide of 8%. On Friday we mentioned a fair chance of testing the 200 DMA (blue line), a level that we’ve been toying with today.
As you can see, we’re getting a bit of a bounce this morning and the question now becomes will the price turn around from here or will we head towards the lows from December?

More than Seven

The US-China trade war reached a milestone too as the USDCNH surpassed 7 Yuan to the Dollar for the first time since the financial crisis.

Bitcoin Connection?

Some people have gone so far as to say that the rally we had in bitcoin is a direct result of the falling Yuan. Of course, this is one possible explanation, but so is Brexit for that matter.

The possibility of a no-deal Brexit could very well have people hedging themselves against the potential of another large leg down for the Pound Sterling.

Due to the anonymous nature of bitcoin, it’s extremely difficult to tell exactly where the demand is coming from. The supply factors of course, have not changed by much.

The supply side has however changed for Litecoin over the weekend, who has seen a very successful block reward halving event. There was a minor pop in the price of LTC around the event but it’s now back to where it’s been holding steady for the last few weeks.

All in all, Litecoin is up 333% since the mid-December lows, making the run up to the halving fairly significant. As we’ve been saying, these type of things have a tendency to get priced into the markets well before they occur and in this case we can see the production of new coins dropped in half and the price per coin has tripled.

Let’s have an awesome day!

Best regards,

Mati Greenspan
Senior Market Analyst

Connect with me on….

eToro: http://etoro.tw/Mati

Twitter: https://twitter.com/matigreenspan

LinkedIn: https://www.linkedin.com/in/matisyahu/

Your Social Investment Network – www.eToro.com

eToro (UK) Ltd is authorized and regulated by the Financial Conduct Authority. eToro (Europe) Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission. eToro AUS Capital Pty Ltd. is regulated by the Australian Securities and Investments Commission, ABN 66 612 791 803, AFSL 491139.

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 utilizing 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. 75% 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.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading
Advertisement
0
Advertisement

Recent Posts

Copyright © 2019 The Crypto Report