December 5, 2020

Cryptheory

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Shortly from the Cryptoworld

3 min read
Shortly from the Cryptoworld

 

Tom Lee: We could be $ on 27,000 for the summer

 

Wall Street strategist Tom Lee is known for his price predictions for Bitcoin. The truth is that several of them worked, but some were terribly wrong. Founder of Fundstrat Advisors analyst recently said in an interview for Yahoo! Finances, that he is currently very optimistic about the price development of Bitcoin. He assumes that a successful shift of the 200-day moving average means that BTC got into the bullmarket and adds that when it happened in the past, Bitcoin averaged 197% in 6 months. If this scenario will repeat, it could cost up to $ 27,000 this summer.

 

Gemini has partnered with TradingView

 

The Gemini US cryptoexchange, backed by the twins Tyler and Cameron Winklevoss, has integrated the popular TradingView technical analysis service into their system. It will also be used by its institutional customers, who will be able to trade or invest in cryptocurrencies through this exchange.

 

Amun AG introduces the world’s first inverse ETP

 

ETP, or an exchange traded product similar to ETF (Stock Exchange Fund), was launched by the Swiss company Amun AG. If you buy an ETP worth $ 100 and the Bitcoin price drops by 10%, you will earn 10% after deducting trading costs. Unlike cryptoderivatives, it does not require borrowed capital. Amun AG has already received a license from the Swiss Financial Supervisory Authority to expand its offer in the European Union. By the end of this year, the company plans to include its ETPs on other European cryptoexchanges.

 

IOTA precedes the Chrysalis phase. It is an intermediate step before decentralization

 

On 3 February, IOTA introduced a series of updates called Chrysalis, which represents an intermediate stage between the current state of the project and the expected complete removal of the centralized coordinator. Chrysalis, also known as the IOTA 1.5 update, was designed as an intermediate step before the “Coordicide” phase, which will remove the important and only centralized element of the entire ecosystem. It is currently managed by IOTA developers and creates checkpoints in transaction history. The coordinator is in the present state of necessity because of the unique IOTA structure. By its expected removal, IOTA should become completely decentralized.

 

Smart contracts restrict access to data, but improve data quality

 

Gartner published the results of a study on smart contracts based on blockchain and their benefits for businesses. The report states that smart contracts bring many undeniable benefits to businesses, but adds in one breath that they could limit the availability of some data.

Gartner’s Clougherty Jones said smart contracts will be a way to reduce the costs associated with hiring third-party intermediaries – be it bankers, safekeepers, or lawyers. Instead, they will use the standard “code is law”, which in itself will guarantee transparency and compliance.

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