Bubble

On October 15, Bloomberg published news that the US Securities and Exchange Commission (SEC) is going to approve the first-ever crypto ETF next week.

The year 2019 has not been a good year for the majority of cryptocurrencies including Bitcoin.

According to a recent Bank of Italy survey on the media bubble started by Libra, the Facebook project, there are many doubts about the nature of these tools, both functional and legal. The study reveals that they do not meet the definition of a financial asset; the high price volatility does not make them equivalent to liquid assets similar to currency; and those convertible at a floating exchange rate do not have the characteristics of legal money – fiat currency.

The people who adopted Bitcoin earlier, benefited a lot from it, especially during the cryptocurrency bubble in December 2017 when they saw weighty block rewards and massive gains from this money-spinning new venture. The time when Bitcoin had just surfaced, its mining was relatively cheap, but when its price and popularity started to increase uniformly, the mining difficulty followed suit. Now, pools appear to be a big deal for crypto investors who want to venture into mining.

There is no doubt that cryptocurrency and Blockchain technology is also attractive for the sentiments of mystery and anonymity that surrounds it in Italy. The 2017 cryptocurrency bubble also contributes much to the mixed reactions and speculations in the market.

Sometimes, we use history to forecast what will happen in the future. Back in 2015, one YouTuber predicted correctly that bitcoin will see a bull market in 2017, a prophecy that came to pass.

For many decades, web users have been wanting to have full access to their own data, saying that if a certain company wants their data, the firm has to purchase it. And this can be possible with the help of blockchain. When companies want to advertise based on people’s data, the firms in question have to pay the web users in order to show the adverts. Giant companies like Alphabet and Facebook are working day and night to make this dream come true. They might either choose to do this by themselves or hire firms to do it on their behalf. Of recent, Facebook revealed that it is planning to start on this initiative with the help of blockchain.

Looking through the lens of history, investors need to invest in blockchain technology. Some should also consider switching from investment in stocks (futures) to blockchain (cryptoassets) as their chief investment, TryBe reports.

In the latest Bitcoin (BTC) versus Silver (SLV) analogue piece, remarkable similarities can be seen in the charts. Trying to puzzle out the time frame of the consolidation point is very crucial. In Silver, the consolidation period timing was more than 90 days, nevertheless, the 500% rally also took around 30 months. In Bitcoin, the 500% rally took around 9 months.