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Bitcoin is trading above $7.000
The cryptocurrencies take a turn for the pandemic that we live, starting with Bitcoin. BTC went up over $ 7,000 and opened the doors for more gains strong before the middle of rewards of the next month. The price of the main criptomoneda of the market reached a peak of $ 7.200. Closed Thursday with a gain of close to 4%, its largest increase in a single day since the 6th of April. It is important to note that the criptomoneda, top, by market value, found acceptance above the average strength key in $ 7.000. Several altcoins top were also recovered strongly. Ether (ETH) managed a gain of 17,77%, while Binance Coin (BNB) and Chainlink (LINK) increased by 11.65% and 15.02%, respectively, this Thursday.
The cryptocurrencies give a U-turn from the pandemic noted report of the University of Oxford
The pandemic of COVID-19 has caused the patterns that are unexpected and revealing among the merchants of cryptocurrencies. According to new research, the cryptocurrencies took a turn in the U. In an article entitled “How the crisis affects Crypto: Coronavirus as a test case”, the Faculty of Law of the University of Oxford observed that the crypto market took a pronounced turn in Or half way out of the crisis. In the post analyzed the period from January 1 to march 11. The researchers in question found that, initially, both the market price as the trading volume generally increased as we increased the number of identified cases of COVID-19. This positive correlation is reversed, with investors removing their cash from the cryptocurrencies and the markets began to decline. Causing each criptomoneda reflects differently this change. The document draws several conclusions of some findings. Noting that the markets of cryptocurrencies could, in a opinion, be understood as a source of systemic risk for the traditional financial system in times of crisis.
Platform Bitcoin LGO integrates Fireblocks
The institutional platform of digital asset management, Fireblocks, has announced that the trade platform of Bitcoin LGO will integrate your security infrastructure and APIS. It is an effort to expand their product offerings. According to an announcement, the integration will enable LGO to increase the speed at which customers can access and withdraw funds to take advantage of the liquidity of the ecosystem Fireblocks. The measure also aims to help provide maximum security and better execution for institutional investors, said LGO.
PlanB expected that the value of the criptomoneda Bitcoin will be greater after the Halving
The creator of the model of stock price-to-flow (S2F) to Bitcoin (BTC) expects that the next Halving of Bitcoin to boost the value up to 10 times more of the criptomoneda leader in the market. In a series of tweets on April 16, PlanB said that follows the increase in the price of Bitcoin in an “order of magnitude” in the two years subsequent to the reduction to the half of may.
IMO #bitcoin 2020 halving will be like in 2012 & 2016. As per S2F model I expect 10x price (order of magnitude, not precise) 1-2 yrs after the halving. Halving will be make-or-break for S2F model. I hope this halving will teach us more about underlying fundamentals & network effects pic.twitter.com/kiTdN0n3Lu— PlanB (@100trillionUSD) April 16, 2020
Continuing, PlanB responded to the consultations on the correlation of the criptomoneda with traditional markets. A key concern among many operators is that, still it might happen a repetition of march. With the possibility that BTC / USD lost 60% in one day due to the fall of the shares. The highlight of the Dow Jones, PlanB argued that the correlation current was the result of a broader crisis of coronavirus. It was not a permanent feature for Bitcoin.