volatility

Volatility – The Game Make in Cryptocurrency Trading Is All Set To Continue

April 4, 2019 Off Steven Anderson By Steven Anderson

Bitcoin has made it to the top in the rally, and Ethereum is responding with spikes.  When it comes to the cryptocurrency world, past performance need not necessarily be an indicator of future results.

David Schwartz, the Chief Technical Officer, stated, “The root problem is that the global payment infrastructure is centralized.  The IBM, SWIFT, and the rest of the old guards are attempting innovation with blockchain technology; however, this does not solve the centralization issue. IBM has positioned itself in a way to be the central operator of the Stellar network; therefore, meaning that it approves all of the validators and therefore controls most of the transactions.”

Schwartz has trouble understanding the use of stable coins.  He feels that even if banks are capacitated to issue their Stable coins, they are not going to use the stable coin issued by each other.

Brad Garlinghouse, CEO of Ripple also made a similar statement during the launch of JP Morgan, where he implied

 that “As predicted, the banks are changing their take on the crypto. But the JPM project misses the point that introducing a closed network today is at par with launching AOL after Netscape’s IPO. 2 years later, and the bank coins still not the answer.”

Stellar Lumens is as well following the Bullish Bitcoin.  The volumes are doubling after the IBM move.  Stellar lumens has increased by 11% than the past week.  This is following the IBM and six other banks signing up a letter of intent for the issuance of the World Wire Stable Coin issuance.  This has become a development that helps boosts liquidity. Of the six banks, three of them have obtained regulatory approval.

Litecoin as well as following the wake of the Bitcoin.  The breakout performance of Bitcoin Cash and Bitcoin SV caused a spike in the price of Litecoin; however, the price later crashed to $100.  The spike was an epic one increasing the value by 86%, and the total went up to 40%. However, during the bearish trade, Litecoin went down by 12% in the Bearish trade.

The decline has, in turn, pushed the market cap down to $5.200 Billion, which is 3.04% of the overall cryptocurrency market cap.  The highest in the market cap was seen at $14.099 billion.

At the time of reporting the news, Bitcoin was trading at $4,934, and Ethereum was trading at $157.20.  Investors are kept wondering if the good times are back to the market by looking at the recent happening.  Volatility – the game makes in cryptocurrency trading is all set to continue.

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