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New Research Shows Bitcoin (BTC) Conversation Has Matured Dramatically

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The recent price rally for Bitcoin and cryptocurrency has a number of analysts and investors scratching their head and asking the question: what’s different between now and 2017?

While coin prices fell through the majority of last year, leading analysts to label 2018 a crypto winter, the market reached an all-time high in late 2017 following a massive bull rally for Bitcoin. Despite currently trading at under $8000, the price of BTC reached an all-time high of $19700 in the final weeks of December 2017. At the time, it appeared that Bitcoin was finally receiving the adoption and investor interest it deserved after nearly a decade on the market.

However, it quickly became apparent that market prices had outstripped valuation and usability, and the entire landscape of cryptocurrency collapsed with coin’s falling 80 percent or more over twelve months. In the aftermath of the price fall, analysts pointed to Fear Of Missing Out (FOMO), unrealistic expectations and greed as primary contributors to the spectacular boom and bust cycle for Bitcoin.

Bitcoin Conversation Evolving

Compared to eighteen months ago, alternative data provider Indexica believes that Bitcoin has matured as an asset since the last bull rally, and has published research supporting their claim. The group created a custom index processing the language contained in thousands of text documents related to cryptocurrency and Bitcoin, and found that the industry, as a whole, has matured greatly over the last several years.

According to their findings, professional discourse around Bitcoin has continued to grow throughout 2019, marking a key price indicator for the currency’s rally since the start of April. As outlined by Bloomberg, Indexica’s findings show three main drivers for growth:  “a more complex conversation surrounding Bitcoin, fewer concerns about fraud and a shift in the tense of how Bitcoin is talked about from the past to the future.”

‘Complexity of Bitcoin’–defined as a measure of the quality of discourse surrounding the asset–made up the majority (24 percent) of the conversation related to BTC. Indexica attributes the increased quality of discussion to the growing pool of academics and professional investors now populating the space of cryptocurrency, moving beyond the niche technology market it represented just a few years ago.

Bloomberg cites the entrance of Fidelity Investments getting into the cryptocurrency game for institutional investors as one strong indicator that the marketplace for Bitcoin has changed dramatically over the last eighteen months. In addition, Wall Street investment bank JP Morgan Chase has also given a vote of confidence to the utility of digital assets, by creating the in-house JPMCoin.

Interestingly, Indexica’s study also found that the tense of conversation surrounding cryptocurrency has changed within the last month. Futurity of Bitcoin, which logged 15 percent of the indexed conversation, gives an indication that discussions are geared towards the future of BTC–as opposed to what has already transpired. SInce the start of April, the future for Bitcoin and the crypto markets has been a dominant topic of conversation, providing another indicator on the direction of the industry.  

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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