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Saturday, 28 November 15:17 (GMT -05:00)



Foreign exchange market

Bitcoin Has Got a Younger Brother – Bitcoin Gold


In October, the list of cryptocurrencies got longer thanks to a new digital currency. Bitcoin developers announced Bitcoin Gold (BTG), and they promise that mining it will be much easier than mining the conventional version of Bitcoin. So, Bitcoin is going to get another younger brother in the coming days. Actually, the corresponding fork (separating Bitcoin chains in the blockchain) was scheduled for October 26th. If everything goes right, BTG may reach the same success that Bitcoin Cash got not so long ago. For those of you who don’t know, Bitcoin Cash also came into existence as the result of forking in August 2017. Later on it became the world’s 4th biggest cryptocurrency in terms of market capitalization.
 

 

 

 

At this point, Bitcoin’s market cap is around 95 billion dollars. Experts say that many developers thought about creating another Bitcoin peer while watching the huge success gained by Bitcoin. The international community has been discussing several new versions of Bitcoin, however Bitcoin Cash seems to be the only success for now.
 
Those who advocate the creation of Bitcoin Gold say that this is an attempt to bring the digital gold status back to Bitcoin since the world’s biggest digital currency has been losing it so far. The forking was initiated by a developer team led by Jack Liao (CEO of LightningASIC, a major Honk-Kong-based mining firm). The founder of cryptobank Wirkex Pavel Matveev assumes that the key idea of forking is to create another Bitcoin version so as to let more people mine it and therefore reduce the impact of big-scale mining firms on the industry and the market situation in general.
 
Indeed, big-scale miners do play the key role in mining digital currencies. Since they use costly hardware, the get a significant competitive edge over small-scale retail miners. Bitcoin World developers are planning to introduce a new algorithm to destroy the market monopoly of big-scale miners. They will be able to mine Bitcoin Gold using standard GPUs, which will make mining affordable and accessible to most of the players out there.
 
Everyone seems to be waiting for Bitcoin Gold but the community still doesn’t understand how this is going to be put into practice. Most of them assume that all of the Bitcoin users will get access to Bitcoin Gold irrespective of the type of their wallets. At this point, the forking is reported to have been support by such exchanges as Bitexchange, Coinbase, and Bitstar. However, nobody knows which wallets are going to be of high priority to those arranging the process.
 
Bitcoin Gold is Expected to Have a Bright Future
 

 

Still, nobody knows the initial cost of the new digital currency. Some experts expect it to follow in Bitcoin Cash’s footsteps and start with something around $300. Others say it may go up to $500 and even $1000.

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The forthcoming forking has already influenced the BTC exchange rate. NordFX analysts report that BTC has nearly doubled over the last 4 weeks. A couple of days ago, Bitcoin set another all-time high around $6200 even though now it’s trading around $5700. Bitcoin has always been a rather volatile digital currency but it keeps on setting new all-time high over and over again. Experts say that investors started loading up on Bitcoin in order to be able to get free Bitcoin Gold coins upon launching. At the same time, they say that $6000 is not the limit. However, it’s always a good idea to trust professionals and to be cautious when dealing with digital currencies.

 

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VWAP Indicator. Usage Peculiarities.

In order to get a competitive edge over others and simplify the process of reaching the trading goals, many traders take advantage of a number of helper tools like trading strategies and indicators. Today, we are going to take a closer look at the indicator named Value-Weighted Average Price (VWAP). What are the benefits of using it and why do they recommend using it?

Publication date: 30 October 10:55 AM

Forex Consolidation. EUR/USD and GBP/USD

The stock market has been ambitious in its attempt to eliminate September's retracement and take the "blue wave" into account but the forex market has been more conservative recently in terms of restoring risky bets. However, when it comes to the stock market, each and every scenario out there eventually boils down to the smart money, which cannot but affect the international currency market. Still, there are many questions to be answered yet, which makes it really difficult to make more or less clear predictions.

Publication date: 12 October 10:58 PM

Tape Patterns Indicator

Traders often use various kinds of technical indicators these days. The list can be rather long, from popular ones like RIS, MACD etc. to less popular ones like Tape Patterns.
Publication date: 30 September 08:52 AM

Bitcoin's Getting Ready For a Strong Rally

While Bitcoin could have been more volatile over the recent weeks, the king of cryptocurrencies stoped in the range between 10K and 11K dollars per coin. Do BTC miners know in which way the coin is going in the near future?

Publication date: 30 September 04:07 AM

Bloomberg: Crypto Is Better Than Gold In 2020

According to the recent Bloomberg report, cryptocurrencies are way better than gold in terms of investments in 2020. Which is interesting, most cryptocurrencies have been growing much faster than gold this year. It's not a secret that gold is considered a safe-haven asset amid crises. Bloomberg Galaxy Crypto Index (BGCI) has gained 66% this year,while gold has gained only 20% over the same period.
Publication date: 29 September 01:07 PM

Gold Prices Drop Below $1860/oz, Seeing A Major Downtrend

On Thursday morning, the spot price of gold dropped roughly down to $1850/oz withing the scope of a strong downtrend started earlier this week, with a strong gap from the consolidation level. The key factors contributing to the price drop was the sudden strengthening of the U.S. Dollar.

Publication date: 25 September 07:39 AM

Texas Authorities Spot New Crypto Scams

The TSSB, which is the financial regulator of Texas, is reported to have revealed a couple of potential scams in the international market of cryptocurrencies. These are named Forex Birds and PEK Universe. From now on, both of these projects cannot work in Texas anymore. These projects were banned on September, 3rd.

Publication date: 18 September 01:07 PM

Cryptocurrencies On Sale: ChainLink and TRON Go Down, Bitcoin Is Stable

Wednesday's session is bringing a retracement in the market of digital assets, which is affecting the entire crypto market cap. Chainlink (LINK), TRON (TRX), and Tezos (XTZ) have been the biggest losers over the last 24 hours. They lost 9,7%, 8,7%, and 5,5% respectively. Bitcoins remains stable and one of the very few tokens among the top 20 that are still showing some gains, though modest ones.

Publication date: 16 September 12:04 PM

What's Next For Bitcoin?

Some analysts argue the future of Bitcoin, also known as the digital gold. Last week, the Winkelvoss brothers stated that the BTC price may skyrocket all the way up to 500.000 dollars per coin in the near future. This opinion is shared by Bloomberg analysts. But on the other hand, Bitcoin may see the opposite scenario, which is a major crash to make it as cheap as dirt.

Publication date: 10 September 03:00 AM

How To Get Ready For Bitcoin Boom 2020?

Cryptocurrencies keep on growing in value. If you are going to buy your first coins, this is what you should do first.
Publication date: 30 August 11:27 AM