Kris looks at the massive falls in the crypto markets, including one of the most well-known cryptocurrencies. Pessimism surrounding cryptos may be at an all-time high, but Kris discusses some of the reasons that there may be light at the end of the tunnel…
Cryptocurrencies were seeing red early Tuesday, as the global crypto market fell by 10% within 24 hours, from US$218 billion to US$193 billion, as recorded by coinmarketcap.com. Bitcoin was leading the market lower when it dropped to US$6,000 early in yesterday’s trading... Click here.
Crypto is a technology revolution. It’s evolving, improving, expanding and changing. That's why we believe the BIS report on the death knell of bitcoin is wrong.
When it comes to bitcoin, do you want to play it safe or leverage up with CFDs? Just for fun, work out a hypothetical trade. Use your capital base to decide how much bitcoin — or how many CFDs — you’d buy.
If crisis hits again, people will flee the traditional system. They'll realise the current system isn’t as safe as they think. They’ll want something else. And crypto will be there, ready, waiting for them.
At the time of writing, shares of Chapmans Limited are up by 14.29%, to 0.8 cents, in today’s trading. Last week, Chapmans raised AU$4.552 million, comprising of AU$1.59 million in equity and AU$2.962 million in unsecured convertible loans due at 30 June. Chapmans used the funding to acquire a 19.99% stake in GPU.One, a profitable data processing and cryptocurrency company.
This is exactly one of the reasons why a decentralised crypto based system will be better than the centralised banking systems we rely on today. And as you’ll see from my Crypto Tech Investor essay, it’s not the only problem we face when dealing with banks.
I wondered, is crypto really mainstream? Or is it still just a fringe idea, an edge of the bell curve concept that most people still have no real idea about? My conclusion is that most of the mainstream say they’re in crypto, but the reality is they’re really not.
The world of ICOs and crypto projects is rife with fraudsters like these. And the sad thing is that these scams overshadow all the projects that have real teams, real operations and real potential behind them. But having seen enough, knowing what works and what doesn’t, I’m going to explain exactly what makes for a great ICO.
Strongin believes that crypto will likely trade to nothing due to a lack of intrinsic value. He compared crypto to the dotcom bubble of the late 90s.