Monday, October 19, 2020

This News Will Make Cryptocurrency Investors Careful

 Bitcoin (BTC) continued to see a $ 11,000 jump. Analysts assume five incidents this week will change the market, including the influence of the US (US) election on the dollar, the crisis in Europe involving the Brexit and COVID-19 issues, as well as the high Bitcoin hash rate.

The growing growth of the crypto sector lately has been seen as a positive phenomenon with the notion that crypto banks will outperform fiat banks for another three years.

Starting with the investment made by Stone Ridge Asset Management, involving a total of $ 115 million and 1% of Square firm's assets which is around $ 50 million is invested in Bitcoin.

However, the situation of Bitcoin is different if you pay attention to the G7's decision to block Facebook's Libra plan, not until more rules are put forward.

At the same time, Elon Musk has denied that his firm, Tesla Gigafactory owns a Bitcoin ATM after a Twitter tweet from account owner Will Reeves who claimed to have seen the machine while crossing the LibertyX Bitcoin ATM.

DeFi is also reportedly not very strong at the moment.

It is reported that Chainlink may fail to maintain its position in the ecosystem following the development of the DeFi project by Constellation Network on the Hypergraph protocol. The effort has received some initial support from FBG Capotal and Alphabit Fund.

There is no doubt that there are many other factors that lead to positive changes in the Bitcoin market, but investors are asked to be careful as it is not impossible if at the same time the price of the asset declines.