Cryptocurrencies headed by Bitcoin have been growing again since the beginning of the year and we are interested in what has happened in this segment in the last day.
Bitcoin was the most profitable commodity of 2019 (Reuters)
Even 2019 confirmed that the long-term investment in Bitcoin is still paying off. If you invested in BTC 12 months ago, you are currently in a very nice plus. There was no better investment among the commodities where Bitcoin is mostly classified (although legislators are still not quite clear on this issue). Click here for details.
The past decade of Bitcoin and cryptocurrencies in 10 points
Coinbase founder Brian Armstrong published a longer post on January 2, looking back at the previous decade in terms of cryptocurrency development and adoption. First, he reviewed the beginnings of Coinbase and the fact that Bitcoin was misrepresented many times as dead to sum up the decade into 10 specific points.Click here for details.
Binance has added trading pairs to the euro to support 180 fiat currencies
Binance, one of the largest in the world, announced that it is launching support for trading against the euro. Bitcoin, Ethereum, XRP and Binance Coin crypto currencies, as well as USDT and Binance USD (BUSD), can be traded on the platform against the EUR as of January 3rd. EUR support for Binance was available just at the Binance Jersey exchange for European and UK customers. In addition, Changpeng Zhao chief announced that one of Binance’s main goals will be to transfer cryptocurrencies to masses of new people. Binance therefore wants to offer trading pairs up to 180 world fiat currencies by the end of 2020.
Bitmain plans to lay off 50% of employees before halving
Chinese mining giant Bitmain reportedly plans to lay off up to 50% of its employees. The news network Wushu Blockchain reported that the company has launched a personal optimization plan, which may be related to the upcoming halving bitcoin. The May cut of the remuneration for the extraction of the new BTC block by half represents a potential threat to mining companies, provided that the price of Bitcoin due to halving does not increase significantly. Dovey Wan of Primitive Ventures therefore humorously described the release in Bitmain as “the first halving of 2020”. Bitmain made similar redundancies in December 2018.
Did the Bitcoin price react to the attack of USA in Baghdad?
The United States carried out an air attack at Baghdad Airport, during which Iranian Major General Qasem Soleimani, Qudus Special Forces Commander of the Iranian Revolutionary Guards, and Abu Mahdi al-Muhandis, Deputy Commander of the People’s Mobilization Force (PMF), were killed. While the US justified the attack by saying that Soleimani was participated in plans against US diplomats in Iraq and whole region, global markets also responded to US aggression. The oil price rose by approximately 3 percent and the Brent price jumped to a 4-month high. However, Bitcoin also strengthened. Shortly after the publication of the reports of the attacks strengthened by more than 6%. Part of the cryptocommunity therefore believes that Bitcoin’s reaction to world riots demonstrates the fact that it is becoming a safe haven in times of geopolitical uncertainty. However, market and digital currency expert Alex Kruger said it was absolutely nonsense to associate the price of Bitcoin with the attacks in Iraq, although he believes that there will be much speculation in the coming days. “The price of Bitcoin is influenced by a number of variable factors in both directions” he pointed out.
Iran-based sellers on peer-to-peer trading platform LocalBitcoins are currently asking for around 1 billion Iranian rials or over $24,000 per Bitcoin (BTC) — well over its 2017 all-time high — as tensions reach a boiling point between Washington and Tehran.