Steve Wozniak, the co-founder of Apple, took part in an exclusive interview at the conference ChainXchange and talked about his attitude towards Bitcoin and cryptocurrencies in general and also shared his plans for the blockchain technology:
“I like to keep up with things… Bitcoin caught my attention. It had so many unusual aspects for any technology I had ever heard of. Nobody is really known to be the creator. It doesn’t have any centralized [component]. It’s based on mathematics. There’s a certain number of Bitcoin that can ever exist… Mathematics to me is like nature. It’s much better than human beings… I trust those things of nature more than what man makes up. Man makes up currencies, controls them, issues new US dollars every year; Bitcoin was immune to that.”
We want to point out that the famous American inventor, electronic engineer and programmer was not particularly interested in the subject of cryptocurrency in the fall of 2017 and even sold all his Bitcoins. Back then he found that cryptocurrencies only brought “anxiety”, but now, he seems to have learnt more things about the advantage of the blockchain technology:
“At first I kept hearing [about blockchain], and I didn’t understand it. It’s not something you understand in a day. You think about it, read more about it and how it works, and then you see how people actually start to use it, through the mining process and also the verification and, aha! It all adds up!” said Wozniak.
After that, the co-founder of Apple made a sensational statement: he himself is going to start working with blockchain. According to him, this will happen “very soon”, the project is likely to be launched in Malta:
“I’m involved with, very soon, my first time being involved in a blockchain company. [It’s] called Equi… Our approach is not like a new currency, or something phony where an event will make it go up in value. It’s a share of stock, in a company. This company is doing investment by investors with huge track records in good investments in things like apartment buildings in Dubai. We have one person in our group who has listed out a whole apartment building for Bitcoin… We might be starting up in Malta around the time of their blockchain conference. Some countries are very positive about [blockchain]the same way they were about electric vehicles.”
The beginning of 2018 pleased the crypto community much more, than current week. This year, Bitcoin set a positive record on January, 7th. According to CoinMarketCap, when the rate of the first cryptocurrency flew up to the mark of $17 527 for one coin. The Anti-record was settled this week, November, 20, with the rate of $4 279. As a result, within 11 month, Bitcoin fell by 75%. Today, November, 21, at the moment of 11:30 UTC, Bitcoin rose slightly – up to $4 665 for one coin. Despite the drop in prices, BTC is still confidently covers more than half of the crypto market in terms of capitalization, and $ 81,114, 287, 644 in total.
Not only the Bitcoin rate has been a victim of collapse. Even Ethereum has seeded his 2nd position by Ripple capitalization. The crypto industry has become more and more discussed in a last few days. But incredibly, the panic within the community is mild, and some individuals are treating the situation inside the market with some kind of irony. You may learn about it from different crypto enthusiasts Twitter profiles.
CoinShare security manager Meltem Demirors, noticed the possibility of a broad cultural shift for the industry in front of depreciation:
sending hugs to *everyone* in the crypto community. we're all learning something valuable this week about investors and speculators. hoping this marks the start of a broader culture shift for our nascent industry.
In general, the crypto-community is divided into two camps : the first one blames Bitcoin Cash hardfork, and the second one is convinced that such low drop is a common economic phenomenon and we just have to wait. For example, Fundstrat Global Advisors analyst Tommy Lee, believes that Bitcoin will grow up to $15 000 by the end of 2018. We want to remind you, that previously Tom predicted the rate’s growth by $25 000, but in July, he suddenly changed his mind and decreased the rate till $20 000.
It is quite obvious that a single person can not own the richest crypto wallet, it obviously has to a company, in our case, a crypto exchange.
5 major digital asset exchanges currently possess around 3.5% of the total amount of BTC. At the rate of approximately $5300 per BTC in monetary terms, it is almost 600 thousand BTC (more than 3 billion dollars).
1. Binance, which is also #1 in the CoinMarketCap rating in terms of trading volumes. It owns over 141 thousand BTC (almost 750 million dollars).
2. Bitfinex. #3 on the CoinMarketCap and holds almost 139 thousand BTC (around 737 million dollars).
3. Huobi. This exchange ranks 4th on the rating according to its trading volume and owns a bit more than 108 thousand BTC (almost 575 million dollars).
4. Bittrex. Being only the 32nd on the CoinMarketCap, Bittrex managed to become the 4th richest BTC holder with its approximately 107 thousand BTC (around 570 million dollars).
5. Bitstamp. Last, but not least is Bitstamp, #15 on the rating. Almost 98 thousand BTC (close to 520 million dollars) belongs to this exchange.
Here are the richest crypto exchanges holding Bitcoin. As for the famous crypto personalities who can boast of their BTC wallets, we can’t help mentioning Roger Ver and the Winklevoss twins. These two own $11 million worth of Bitcoin.
What if it wasn’t collapse of the rate, but cryptocurrency market is preparing for the Black Friday? And it’s not an anti-record of the price tag of Bitcoin and other cryptocurrencies, but a huge discount? 🙂 All the news feeds are flooding with the information about “bad feeling” of the crypto market. Today, November, 20, 2018, the Bitcoin rate is hanging around the $4 500 mark, causing deep psychological trauma to the holders of cryptocurrencies. But, what if it is the time to rejoice and buy a cheap crypto ? This is all, of course, “black” jokes on the grounds, that the world’s attention is focused within 2 events – the collapse of the cryptocurrency market and the upcoming Black Friday.
In order to lighten the spirits, The Coin Shark has collected top 5 trading platforms where attractive discounts to the Black Friday are already waiting for you.
1. Bitcoin Black Friday
The most popular crypto platform, where the massive sales of goods are held for Bitcoin on the Black Friday. The platform will start sales on November,23, 2018 at 00:00 UTC.
This trading platform works constantly. It’s advantage is the opportunity to save up to 70%. On holiday sales, the founders of the platform, decided that they could give more to their users. On Black Friday 2018, there will be discounts on goods up to 70%. For payment method they accept Bitcoin and other cryptocurrencies.
The website for monitoring cryptocurrency, gives to all traders a good opportunity to buy a powerful tool for research and analysing of the rate with a 60% discount on a Pro, Pro+ and Premium versions.
4. Crypto Asylum
The manufacturer of hardware wallets Crypto Asylum, decided to keep up with the “black tradition”. He will arrange the sale of his products with a 20% discount, on all of his products. The discount is given if you pay for your goods using Bitcoin cryptocurrency.
The manufacturer of the hardware wallet Ledger Nano S, is also not far behind from “the black trends”. It’s users will be given a 21% discount, if they place an order between Black Friday and Cyber Monday, which will be on November,26.
Bloomberg Intelligence analysts claim, that at the moment Bitcoin has not yet established the final anti-record, but only “continue to fall”. According to their forecasts, the rate is expected to fall to $1 500, which is 70% less than the current rate – $5 140 (at this point). As one of the reasons for the fall of the course, the publication notes the hard fork Bitcoin Cash network. After it the largest scale collapse of the cryptocurrency rate occurred, which was the beginning of the “boring life for Bitcoin” and inspired several industry experts to make forecasts. Travis Kling, founder of the hedge fund Ikigai, made an assumption, that in the future BCH hard fork will no longer affect the market:
“There’s a small chance that, it’s difficult to estimate, that something really bad could happen related to Bitcoin Cash that could then impact the entire crypto market.”
Bloomberg Intelligence analyst Mike McGlone gave a forecast for two versions of Bitcoin Cash, namely that because of them the investments of depositors and miners will continue to provoke a way out of rates to increase and further decline in market quotations. The president and the main investment specialist of Creative Planning, Peter Mallouk, drew the attention of the crypto community to the financial result of the III quarter of the GPU manufacturer – NVIDIA. Mining products of the company are losing its relevance, which is according to the analysts, signals about the deterioration of the whole cryptocurrency market in general.
“The drop in the stock price of Nvidia is reflective of a future where cryptocurrency fueled demand has cratered,” said Peter Mallouk, president and co-chief investment officer of Creative Planning, in an email. “While this is, of course, bad news for NVIDIA, it is really the canary in the coal mine for Bitcoin and other cryptocurrencies.”
We want to remind you, that the founder of Fundstrat Global Advisor, Tom Lee, is optimistic about the future of the world’s first cryptocurrency. At the beginning of the year, he made a prediction, in which Bitcoin will reach the $25 000 by December. However, in July Tom made an adjustments , changing the estimate rate by $22 000. Early in November, the forecast was changed again to $15 000. Eventually, BTC should grow by more than 170% in a short term.
As it may be seen from the statistics taken from the job search site Indeed.com, the popularity of crypto-related jobs has begun decreasing as the hype over cryptocurrency slowly but surely fades away.
According to the graph, the employee’s interest in crypto jobs (blue line) has remained pretty much the same as one year ago, but did drop significantly compared with the November and December of 2017. As for the employer’s interest (red line), it has stayed quite stable, however, it is also starting to decline.
The current condition of the cryptocurrency market raises a number of question from traders. For the third day, the industry is either trying to revive Bitcoin and other cryptocurrencies, or just watching the collapse of the course. The question of what caused the collapse of the market and what should do those who still have cryptocurrency – makes world crazy. That is why, The Coin Shark have found answers for all of these questions and analysed per minute history of the fall of currency of Bitcoin.
The Chronology of the fall from 14th to 16th November
Wednesday, November,14 , Bitcoin break another 2018 bottom. According to data of CoinMarketCap, at 11:34 UTC the rate of the first cryptocurrency behaved stably, being at $6 365. Nothing foretold troubles, but at 17:19 UTC began unexpected fall, which last till the 19:19 UTC, where the price of BTC remained in half-dead condition at $5 765. Therefore, the capitalisation of the marked fell to $102 billion. After that, Bitcoin started to resist. In 20:04 UTC the currency show vital signs, increased to $5 858. But still, the end of 14th November was not a happy ending. In 22:48 UTC was settled a new record – $5 568.
If compare the data with an individual market, then on a Bitstamp the price of the BTC has already dropped to $5 534, and on the Kraken – $5 510. Last two weeks, Bitfinex exchange trade Bitcoin more than $6 000 per each unit. It turned out, that the 14th of November was still far from the end of BTC fall. According to CoinMarketCap, Thursday, November, 15, at 17:04 UTC, Bitcoin shocked everybody with the course of $5 358. On Bitstamp the first cryptocurrency down to $5 446, and on the Bitfinex – $5 638. At this point, this is the lowest course from the end of October, 2017.
The condition of the cryptocurrency market for the last year is unstable. It is accompanied by unexpectable highs, as well as painful falls. But not only Bitcoin drop it’s price position on 14th of November. Together with it, into a deep red zone came the major part of other cryptocurrencies. In doing so, the total capitalisation fell by $190 billion.
At the writing of this article, 16th of November, the condition of the cryptocurrency market is still in critical position – the course of Bitcoin stood at $5 500, and Ethereum backed down the second place in capitalisation Ripple.
What caused the collapse?
Just think about it, less than 24 hours ago, it was possible to sell the BTC on a thousand dollar higher. Probably, it is impossible to define why “the foundation was cracked” under the cryptocurrency, as for the example it can be done in a regular market. In the digital, the effect is first seen and only than the reason becomes known.
Reason #1: Contagious effect
On the basis of past, the cause of the fall have psychological nature. For example, people are massively starting to buy cryptocurrencies or fanatically selling.
Reason #2 : Direct correlation
Each financial currency pegged to its government, as for the example dollar – to the US economy. Cryptocurrency pegged with the people, which are both buying or selling it.
Reason #3: Global Bitcoin influence
Ironically, but there is a theory, that the general condition of the cryptocurrency is affected by Bitcoin. The value of all digital market is estimated in $182 billion, the $90 billion of which belongs to BTC. The majority of cryptocurrencies should be transferred especially in Bitcoin, before the sale. And now imagine, that selling of Bitcoin will start simultaneously several major players of the market. After this, the BTC prices are lowering, and this cause the panic attacks more than ones: “ Buy everything and as quickly as possible, while the price is low!” – this makes the course to grow.
What should do the owners of cryptocurrency: sell or wait?
It depends on the inner aspects of each owner. Even when the course is rising – it still have cycles of fall.
Who and how will affect the collapse of rate?
Cryptocurrency is the unstable tool. It’s system decentralised and doesn’t have the management center. Digital currency should strengthen the positions, so it can give the accurate forecast for the future. But, it appeared, that this fall will have no affect on ordinary users. There is no denying, that in a consequence many crypto-business will close. Cryptocurrency exchange are in the minimum risk area, as in such cases the number of transaction increases. Most of all, miners and the owners of the mining field will suffer the most. Since, the profitability depends on the price of extracted cryptocurrency. Within recent events, it is clear that mining is unprofitable occupation.