News May 23, 2019

News from the world of Crypto

You can now send and receive Bitcoin on Whats App


Whats App users can now send and receive Bitcoin (BTC) and Litecoin (LTC) via the popular messaging platform thanks to the Lite.Im bot. The service also allows people to earn cryptocurrency via a referral program. There are also options that allow users to set their default coin, as well as select their preferred language and password. Presently, two default languages are English and Spanish. SMS-based cryptocurrency transactions introduce some simplicity into the cryptocurrency transaction paradigm, especially for less tech-savvy individuals. Lite.Im already has similar services for Facebook Messenger, Telegram, and SMS.


Cryptocurrency market survived after the earthquake


At the end of last week, the BTC sharply collapsed, which pulled along other coins. But by the opening of trading on Monday, May 20, the cryptocurrency market had recovered from the shocks. At the same time, there were coins that record incredibly strong growth in the first trading days of the current week.

According to CoinMarketCap, over the past 24 hours, the price of Bitcoin SV increased by 76.67%, reaching $111.33. As a result of strong growth, the capitalization of BSV came close to $2 billion. At the same time, the price reached $139- the high of the current year.


Bitcoin will continue to grow


87%, out of more than 2550 surveyed Twitter, believe in the further growth of BTC.

We recall that on May 20, 2020, the Bitcoin mining remuneration will be half reduced. At the moment, the miners receive 12.5 BTC for each block, and from next year this number will be reduced to 6.25 BTC. Indeed, some crypto enthusiasts, analysts and experts note inverse relations between the mining reward and the price of the first cryptocurrency. Thus, a reduction in remuneration should lead to an increase in the price of BTC. It is quite logical because mining is quite expensive and should be profitable, which is possible with an increase in the price of mined coins. But this survey reflects only the expectations of most users.


Binance – not so smooth


After a hacker attack on Binance, the largest cryptocurrency exchange in terms of trading volumes, the security system was upgraded. At the moment, the exchange is operating normally, but at the time of the work resumption, its users faced several problems and limitations. First of all, Binance allowed outputting most tokens, but not BTC. Besides, due to the high load, the time for withdrawal of available coins exceeded the regulations.

Some users noted problems with cancelling trade orders or logging in. Despite these issues, the demand for BTC and other coins from the TOP 16 remains steady. It can be explained only by the fact that cryptocurrencies perform one of the main functions – a means of payment.


There are more and more optimists


The growth of the cryptocurrency market attracts the investors’ attention and also sharpens the feelings of those who believed in it even at the moment of the collapse. Mati Greenspan, eToro platform analyst, made a very optimistic assumption about the BTC growth. On Bloomberg live, he stated that BTC could grow by an incredible 10 000% – 50 000%.

The analyst focuses on fundamental factors, mentioning the rapid development of the cryptocurrency market and the increasingly active use of crypto. Large US retailers already accept cryptocurrencies for payment due to the partnership with Gemini and Flexa.

However, the more crucial fundamental factor contributing to the rapid increase in the popularity of BTC as a payment instrument was the decision of Donald Trump to raise tariffs for China.

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