Here you can find an overview of the most important crypto events in the last 24 hours.
Bitcoin is now struggling to maintain support at $ 8,300, but so far it has been falling and altcoins with it. The mood in the markets reflects this and has also fallen back to 40 points, which means fear and worry. After the weekend it will be seen whether it was just a outgoing trading to Asian New Year celebrations or a longer-term trend.
You can monitor the current cryptocurrency prices – here.
State currencies and stablecoins
Crypto exchanges / Banks
Tom Lee still believes that 2020 will be a good year for the BTC
Tom Lee of Fundstart is still a supporter of Bitcoin’s growth, even after the leading cryptocurrency fell by almost 10 percent in less than a week. According to his recent CNBC interview, Lee still believes that the upcoming halving, coupled with geopolitical factors, will lead to a rise in Bitcoin prices. Lee is also of the opinion that the price of Bitcoin may be influenced by geopolitical events. In particular, he mentioned the presidential elections in the US, which are already held this year.
Peter Schiff claims that anyone investing in BTC now will suffer losses
Current bitcoin holders end up in a loss, says well-known Bitcoin critic Peter Schiff. “The fact that the price of bitcoins has risen in the past does not mean that bitcoins are money, and that has nothing to do with my analysis. I admit that many people who have bought and sell bitcoins in the past will make a profit. But those who buy and hold now will suffer a loss ”. Pompliano replied to this tweet, saying that Bitcoin was the most profitable kind of asset in the last decade and that it wasn’t very good. The cryptocommunity is now beginning to wonder if Schiff even understands the krpytoměnám, as he recently lost his bitcoins.
The fact that the price of Bitcoin went up in the past does not qualify Bitcoin as being money and it has nothing to do with my analysis. I concede that many people who bought Bitcoin in the past and sell it now will profit. But those who buy it now and hold will suffer a loss.— Peter Schiff (@PeterSchiff) January 23, 2020
Elon Musk: Crypto will be the bridge between legal and illegal payments
CEO of Tesla Elon Musk explains his ideas about Bitcoin and cryptocurrencies. In a new interview from the Tesla Podcast series, Musk says he is neither an advocate nor a critic of emerging technology. “I am neither for nor against Bitcoin… I think Bitcoin’s whitepaper was quite clever.” Musk says that cryptocurrency supporters should recognize that digital assets are used for both illegal and legitimate purposes. And apparently there are many laws in different countries. Cash is usually used for these transactions. However, for illegal transactions to occur, cash must also be used for legal transactions. You need a bridge from illegal to legal. Here comes the crypto.
CEO Circle: Stablecoins need open standards
CEO Circle Allaire began working on his own stablecoin project in early 2017, after he decided to leave Bitcoin in 2016. Allaire says that Bitcoin’s idea of value has begun to catch on when Circle wanted to concentrate on tokenized finance. At the end of 2018, Circle and Coinbase launched USDC as an open standard. This last point is crucial for Allair if the USDC or any stablecoin is to transform finance. (You can watch the whole interview in the attached tweet.)
Circle CEO @jerallaire on the next phase for stablecoins amidst increasing interest from governments & central banks— Messari (@MessariCrypto) January 23, 2020
Listen/Watch in Full
Apple Podcasts: https://t.co/eE56gmh9GO
YouTube: https://t.co/a6jjFxkgnj pic.twitter.com/xcKn2Lh7qc
BitMex adds XRP Swaps and deletes two derivatives
The market for cryptoderivatives is booming, and now BitMex is adding a new product, the XRP-USD quanto swap. The so-called quanto-swap is a derivative with an interest rate based on the difference between different currencies. One person pays interest to another person during the swap. After the contract expires, the swap amount is settled in cash because the instrument and the underlying are different currencies / sources. The tool is useful for people looking for liquidity and unusual ways to make a percentage profit. The tool will be available from February 5, while the UP and DOWN contracts on BitMEX will be deleted as an unnecessary asset class.
Gemini has been certified by Deloitte for the second level of security called SOC 2
Gemini has announced that it has successfully completed the second level of the SOC 2 Independent Security Test by the consulting firm Deloitte, one year after completing Level 1 SOC 2.