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Tuesday, 18 September 09:32 (GMT -05:00)



Foreign exchange market

There's Nothing Wrong About Crypto-Market Downtrend, Ethereum Co-Founder Lubin Says


The ups and downs currently seen in the global market of digital currencies do not reflect the current state of affairs in the market, Joseph Lubin thinks. By the way, he is the founder of ConsenSys and a co-founder of Ethereum, the world's second-biggest cryptocurrency in terms of market cap. 
 
In particular, he thinks there's nothing wrong about the continuous ups and downs shown by cryptocurrency exchange rates on a daily basis. Moreover, such fluctuations are even good for the digital currency since they contribute to the improvement of the entire ecosystem.
 
Lubin is a realist. That's why he calls the rally seen in late 2017 a price bubble. Even more, according to his calculations, this is the 6th and biggest bubble in the global cryptocurrency market ever since it came into existence. There is another distinctive feature when it comes to the latest bubble. The thing is, unlike the previous bubbles, the market took the burst of the last one for granted and reacted in a relatively reserved way to this.
 
At this point, the cryptocurrency market is at its initial stage when the fundamental infrastructure is being created while we can see the market retrace amid increasing upward potential. even though the ups and downs are inevitable, Lubin thinks that there is strong correlation between the infrastructure and the value of cryptocurrencies.
 
As for the increased volatility, it's of purely speculative nature driven by traders and investors. That's why the current downtrend doesn't imply any problems with the cryptocurrency infrastructure.
 
His words are backed by the market behavior. On August 14th, Ethereum dropped down to 251 dollars, the lowest price level since SEptember 2017. The next day, the exchange rate increased all the way up to 286 dollars, NordFX reports.

 

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Masterforex-V Academy Names World's Best Forex Brokers

There are quite a lot of FOrex brokers out there, which is why even FX experts may have a hard time finding one of the best representatives of the FX industry.

Publication date: 15 September 10:43 AM

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Publication date: 13 September 11:00 AM

Russian Forex Jurisdiction Gains Strength

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Publication date: 03 September 10:44 AM

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Publication date: 21 August 11:14 AM

Bitcoin May Continue Downtrend

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Publication date: 09 August 11:43 AM

Philip Nunn Predicts $60K for Bitcoin in Late 2018

According to Philip Nunn, CEO of Blackmore Group and Wealth Chain Group, the BTC exchange rate is likely to skyrocket all the way up to 60000 USD/BTC.

Publication date: 09 August 10:38 AM

Bitcoin lost 7% in 24 hours

The Bitcoin exchange rate has gone down by 7% over the last 24 hours. In particular, the exchange rate dropped down to 7500USd/BTC.

Publication date: 01 August 10:56 AM

Panic Around Winklevoss Brothers Hasn't Dropped Bitcoin Below $8000

For those of you who don't know, the SEC has recently declined the Winklevoss Brothers' request to create an exchange-traded fund (ETF). Shortly after the news, some cryptocurrency investors started panicking. At the same time, some experts started predicting another downtrend in the global market of cryptocurrencies in general and Bitcoin in particular.

Publication date: 30 July 12:30 PM

Bitcoin Gained Over $1000 In a Week. The Uptrend Is Still Underway.

After a couple of months of stagnation, the cryptocurrency market seems to start recovering and regaining the lost ground. Over the last couple of weeks, the BTC exchange rate increased by more than 1000 dollars. Other popular cryptocurrencies followed.

Publication date: 26 July 01:24 PM

Most ICOs Eventually Fail

Most ICOs out there end up with nothing for the ambitious project starting them as well as their investors seeking quick yet stunning returns on their investments. This is confirmed by the survey conducted by the University of Boston, Bloomberg reports.

Publication date: 23 July 10:05 AM