How Useful are Bitcoin and Other Cryptocurrencies During War?

The extreme point of clarifying relationship between countries is war. For either sides, military actions are accompanied by heavy casualties and  terrible events. But, even during a ruthless war, the price of money did, does and will exist, always and everywhere.
So, what about the value of Bitcoin and other cryptocurrencies during military activities? The Coin Shark will tell more about that.

The value of currency at war
During military actions, the economy of the feuding states is, to put it mildly, go through difficult period. At the same time, there is a high probability, that the currency of the losing side will depreciate all over the world. In this case, people are moving towards gold and other precious metals.

The value of Bitcoin at war
All advantages of the cryptocurrency are still not open. Therefore, it is difficult to define clearly the value of Bitcoin during war. Also, due to  number of military restrictions, it is completely unclear whether it is realistic to use cryptocurrency at “cold period”. Probably for the best, that it is not known and not verified by anyone yet. Obviously, it is not time yet, to come to change checked up for centuries gold for innovative Bitcoin.

Why Bitcoin isn’t gold?
Gold is the most effective and the safest means which it’s worth transferring your capital into when the nation currency depreciates, which is normal during and after war. Even with inflation, the value of gold do not decrease, but even grow. Which cannot be said regarding Bitcoin. After all, the value of cryptocurrency is increased by investments, which during war is inappropriate and futile.
Of course, people chose Bitcoin as an investment object where peace and stability reign. Since this is the best tool for quick cash.  But when the economy begins to “totter” or martial law is in the country, investors return to traditional assets, as their reliability has been verified by history.  

Among crypto investors, it is trend to call Bitcoin as digital gold. However, this option is not supported by all. Charlie Morris, Chief Investment Officer of Newscape Capital, said in the interview with The London Bullion Market Association (LBMA) that it’s not appropriate to compare gold with cryptocurrency:


«Gold is a store of value that will last forever. Bitcoin, on the other hand, is something that is young and speculative. [Bitcoin] is very exciting, but the comparison with gold has been overdone».

Morris explained, why people often compare two oppositely different currencies:


«The bitcoin network was designed around the idea of gold. That is why they are so similar».

During the interview, the investor told, in which cases the community prefered Bitcoin and in which gold:


«In a strong growth environment, where all is well and speculation is rife, no doubt the audience will be voting for bitcoin. However, in the adverse scenarios, such as inflation, nuclear war, or even socialism, I suspect most of the audience will favor gold over bitcoin».

Digital currency loses to gold, as people are not using it so actively yet, which will increase the value:


«If people stop using bitcoin, then its value will decline. And therefore, in an environment, which is suppressive or disrupting, it is less likely that network will be so strong,» – said Morris.  

Why is Bitcoin worthless during war?

We note, that we are talking only about the value of Bitcoin on the territory where military actions are maintained. In such areas, the access to most resources is limited and in a state of emergency, the network is turned off.  That is done to limit the information flow between foes.
As is known, with Bitcoin and other cryptocurrencies it is possible to perform any actions only via internet.  That is, in areas with limited access to the network, the digital currency is absolutely useless for its holder.

Conclusion

We can talk endlessly about the usefulness of Bitcoin and other cryptocurrencies. But speaking of their value during war, the conversation will last no more than two minutes. At the front, the digital currency loses to gold as a valuable resource. The futility of cryptocurrency begins where the internet ends. As we mentioned above, military territories are limited in access to the network or even turned off.

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Cryptocurrency Prices Today, February 15: Cryptocurrencies “Stand Still”

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) remained stable over the past 24 hours. The price at the time of writing is $3604 per coin.

For the most part, cryptocurrencies did not change in price throughout the day:

Bitcoin Cash lost 0.99% over the past 24 hours and costs $121 per coin;

Ripple dropped by 0.03 and costs $0.30;

EOS added 2.3%, and its price is $2.85;

Litecoin grew by 0.18%, and its value is $42;

Cardano gained 0.27%, and its cost is $0.040;

Stellar added 2.66% and costs $0.078;

IOTA grew by 0.87%, and its cost is $0.27;

Dash lost 0.6, and its price is $79;

Monero fell by 0.06% and costs $47.

Over the past 24 hours, Ethereum remained stable. The exchange rate of the coin is $122.

The total market capitalization is $120 billion. Bitcoin accounts for 52.7% of the total volume. In monetary terms, it is $63 billion.

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Cryptocurrency Prices Today, February 14: Cryptocurrency Did Not Catch The Romantic Atmosphere And Began To Fall In Price

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coingecko online platform, Bitcoin (BTC) lost 0.35% over the past 24 hours after a period of growth. The price at the time of writing is $3607 per coin.

Cryptocurrencies have returned to the red zone:

Bitcoin Cash lost 0.6% over the past 24 hours and costs $121 per coin;

Ripple fell by 1% and costs $0.30;

EOS decreased by 4.1% and its price is $2.78;

Litecoin dropped by 3.2% and its value is $41;

Cardano lost 2.5% and its cost is $0.040;

Stellar fell by 1.1% and costs $0.076;

IOTA decreased by 1.6% and its value is $0.26;

Dash lost 1.9% and its price is $78;

Monero dropped by 2.5% and costs $47.

Over the past 24 hours, Ethereum has lost 0.7%. The rate of the coin is $122.

The total market capitalization fell to $120 billion. Bitcoin accounts for 52.5% of the total. In monetary terms, it is $63 billion.

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Cryptocurrency Prices Today, February 13: Cryptocurrencies Are Showing an Upward Trend

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) added 0.4% over the past 24 hours after a period of growth. The price at the time of writing is $3620 per coin.

Cryptocurrencies once again moved to the green zone:

Bitcoin Cash added 0.57% over the past 24 hours and costs $121 per coin;

Ripple grew by 1.96% and costs $0.30;

EOS gained 5.78%, and its price is $2.92;

Litecoin lost 1.48%, and its value is $42;

Cardano increased by 1.31%, and its cost $0.041;

Stellar added 0.2% and costs $0.076;

IOTA grew by 3%, and its value is $0.27;

Dash remains stable, and its price is $82;

Monero gained 2.51% and costs $49.

Over the past 24 hours, Ethereum added 2.37%. The exchange rate of the coin is $123.

The total market capitalization is $121 billion. Bitcoin accounts for 52.6% of the total volume. In monetary terms, it is $63 billion.

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How To Read Trading Charts

Cryptocurrency exchanges work on the same principle as traditional exchanges. Potentially, it is possible to earn very good money on these platforms, but for this, it is needed to be able to correctly read the cryptocurrency coin chart. Of course, in order to become a professional trader, it needs to learn and practice a lot, but if your goal is to understand the basics, this article will be an excellent starting point in the exciting world of trading for you.

There are a huge variety of different charts, but the most common is the “Candlestick chart”. The chart is a much more informative tool than digital or text analysis. Using graphics, it is possible to quickly navigate and understand the current mood of the crowd, as well as the balance of power between sellers and buyers of a particular asset. Based on the obtained data, it is possible to calculate the potential profitability or unprofitability of a particular deal.

1. The main types of stock charts

As it was mentioned above, there are a huge number of different types of charts, but the main ones are lines, bars, and candlesticks. All of these tools (with the exception of the line charts) can tell about:

  • price at the beginning of the selected period (1 minute, 5 minutes, 15 minutes, 1 hour, 1 day, 1 week, etc.);
  • price at the end of the selected period;
  • the minimum and maximum rate of the selected period.

By and large, the crypto chart clearly shows the history of the struggle between bulls and bears. In the process of this confrontation, a large number of deals are made. It should be understood that even a slight fluctuation of the price means that some have already earned on it, while others, on the contrary, have suffered losses.

2. “Candlestick chart”

Let’s take a closer look at the most common version of charts, namely “Candlestick chart”. It was invented almost 400 years ago by a rice seller from the country of the Rising Sun. The process of observing a line chart is not entirely convenient; for this reason, the construction of “Candlestick chart” is based on the principle of dividing the total time into specific periods. This principle helps to quickly navigate what is happening on the market and, accordingly, to give the Bitcoin trend prediction or any other financial asset forecast.

3. How to read the chart “Candlestick chart”?

One candle represents the range of prices for an asset for a certain period of time. The boundaries of the candle are the lowest and highest asset price in this period of time. If the candle`s color is green, this means that the asset has increased in value over a given period of time; if it is red, then, on the contrary, it has fallen.

Source: https://www.tradingview.com/

If you look closely at the above chart, you will notice:

  • the candle corresponds to the time interval – 60 minutes;
  • the minimum asset price was $3485,24;
  • the maximum asset price was $3733.58;
  • This hour began with a price of $3506,42 and ended with the price of $3687 (for this reason, the candle is green).

The main parameters that should be paid attention to when reading cryptocurrency charts are:

  • asset price;
  • time;
  • trading volume.

By and large, the entire analysis of charts is an ordinary calculation of the balance between supply and demand. It is possible to estimate the level of the strength of bulls or bears through the asset price (vertical axis) and the volume of transactions (horizontal axis). These skills allow experienced traders to take the right position in advance and earn money on any price movement.

4. Conclusion

In this article, we talked about how to read cryptocurrency charts. As it was mentioned above, there are a huge number of different types of charts, but the most popular and often used is the option “Candlestick chart”. The basic principle of this type of charts is to divide the time into certain periods. It is quite informative and easy to read. If you want to start trading, then you definitely need to get a deeper understanding of this topic.

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Bitcoin Trading in Venezuela Hit All-Time High: The Possible Future of Bitcoin

According to the report of TrustNode, Bitcoin volumes have surpassed all time high in Venezuela, rising above 2,000 BTC for the first time on peer-to-peer exchange LocalBitcoins.

Bitcoin is the only way to feed family in Venezuela

You may have heard that Venezuela has been experiencing economic crisis as the national currency – the Venezuelan bolivar – has collapsed and become valueless.

The citizens suffer from a lack of basic supplies, including products, medicines, etc. The supermarket shelves are bare. Children are fainting from hunger in their classrooms. The situation changed even worse when the government of Nicolas Maduro blocked U.S. humanitarian aid from coming into the country through the Columbian border.  

The administration of the opposition leader Juan Guaidó remain optimistic, they are convinced that they are able to pass the aid to the people. However, the Venezuelans do not trust anyone anymore, and the only hope left is Bitcoin. People started mining Bitcoin to convert it into dollars to purchase foods and other necessities.

All-time high of the Bitcoin trading

As the 2019 Venezuelan protests caused by presidential crisis are in full swing, people started to trade Bitcoin at full. That is why, the weekly volume of the BTC-to-Venezuelan bolivar (VES) pair increased to 2,454 BTC. It is worth $8.95 million per week and $1.29 million per day.

Bitcoin Future in Venezuela

Tuesday is going to be a big day for Venezuela, according to the Washington Examiner, on Tuesday, February 12, the Venezuelan people plan to demand Maduro’s resignation on the streets all over the country, and try to bring U.S. aid across the Colombian border. Nicolas Maduro has ordered his military to stop them. So the future of Bitcoin depends on who will win.

If Nicolas Maduro remains to be the President of Venezuela, then Petro coins will have more power than Bitcoin. However, if the opposition leader Juan Guaidó overthrows the current government, then Bitcoin will definitely have future in Venezuela as Juan Guaidó gives preference to Bitcoin over Petro.

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Cryptocurrency Prices Today, February 12: Is Cryptocurrency Once Again Moving into the Red Zone?

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 0.3% over the past 24 hours. The price at the time of writing is $3602 per coin.

Part of cryptocurrencies began to decline slightly:

Bitcoin Cash lost 3.49% over the past 24 hours and costs $120 per coin;

Ripple dropped by 1.4% and costs $0.29;

EOS added 1.59%, and its price $2.80;

Litecoin lost 3.97%, and its value is $43;

Cardano decreased by 3.57%, and its cost is $0.040;

Stellar fell by 5.69% and costs $0.074;

IOTA lost 2.6%, and its value is $0.26;

Dash gained 6.13%, and its price is $83;

Monero grew by 1.63% and costs $48.

Over the past 24 hours, Ethereum lost 0.76%. The rate of the coin is $120.

The total market capitalization is $120 billion. Bitcoin accounts for 52.9% of the total volume. In monetary terms, it is $63 billion.

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