Cryptocurrency news today 10 Oct
Team Cryptocoins.group presents to your attention our regular column – “the news of the cryptocurrency today”. Recall that in this column we publish news, which influence on the exchange rate of the cryptocurrency of the TOP 100 by market capitalization according to Coinmarketcap.
On Wednesday 10 October, the stock market continues weak downward trend. In the first ten Coinmarketcap minus all cryptocurrency except for EOS, which gained 0.5 percent. Most of all – by 1.5% – lost XRP and litecoin. All the other top cryptocurrency fell within 1%.
The company Juniper Research conducted a study on the future prospects of bitcoin and kriptonyte in General. According to the results, analysts have made a categorical conclusion: cryptonote is on the verge of collapse. Such a verdict is based on statistics: the volume of transactions in the blockchain of bitcoin has decreased for 9 months of 2018 from 360 to 270 thousand, and the total volume of transfers decreased from 3.7 billion to 670 million in dollar equivalent. Analysts also noted a significant reduction in the capitalization of the stock market, and the fact that cryptocurrency does not help in addressing the pressing problems of the world economy, like trade between the US and China and implications of Brexit.
And the International monetary Fund experts believe that the cryptocurrency can and does become a threat to the world economy. According to researchers, the IMF, the problem with cryptocurrency is that the blockchain, which should improve the security of financial transactions, in fact much more exposed to successful attacks than traditional systems. The head of the Fund Christine Lagarde noted that cryptocurrencies are moving too fast and regulators need to closely monitor this process.
The results of the study, the company Diar showed that mining bitcoins becomes unprofitable, despite the fact that the total profit from mining cryptocurrencies in the first half of 2018, totaled $4.7 billion Private miners that pay for electricity at retail prices in September were negative. Only in a few countries, including China (where the cost of electricity is on average 0.08 USD per kWh), bitcoin mining both small and large volumes remain favourable. And large pools with those of farms in China, such as those that control Bitmain still bring substantial profit to the owners.
UTR Equities analyst Eric Thies said that a serious decline of the ether can give impetus to the growth of bitcoin. The expert cites the end of 2017, when bitcoin has reached a historic high thanks to the inflow of investments into the ether and token-ICO. Then the market really formed a bubble and many crypto-currencies were seriously overvalued. However, the bubble does not burst, but gradually blown away, and now, after the depreciation of the air by more than 80%, bitcoin can go to the quiet stable upward trend, says Thies. He also stressed that all the events that happened to the cryptocurrency in 2018 was just a stabilization of the market after the giant jump at the end of 2017.
The Commission on securities and exchange Commission (SEC) has appointed a new deadline for a bitcoin ETF. A few days ago, the SEC proposed to users and cryptoexpert to share their views about regulation of the bitcoin ETF. Now representatives of the Commission explained that comments will be accepted until October 26, 2018, after which the SEC will go “to the meeting”. Many experts accept that the willingness of the regulator to dialogue as a good sign that increases the likelihood of a speedy approval of the launch of the ETF.
Coinbase representatives have announced plans of crypto currency exchange out in 2019 on the Japanese market. Now Coinbase is negotiating with the regulator the FSA for a license.
A crypto currency exchange Bitfinex announced update interface with new features output statistics, accounting operations and interaction between users.
Stay tuned not to miss any important event from the world of cryptocurrency!