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eToro-Quartalsbericht: 73 Prozent der Provisionen über Bitcoin und Co.

Smartphone auf dem die eToro-App läuft.
Nach dem fulminanten Wochenauftakt kühlt sich die Bitcoin-Rallye etwas ab. Zeitgleich veröffentlicht eToro seinen Quartalsbericht und offenbart eindrucksvolle Zahlen.
Source: BTC-ECHO

Der Beitrag eToro-Quartalsbericht: 73 Prozent der Provisionen über Bitcoin und Co. erschien zuerst auf BTC-ECHO.

Bitcoin Shatters New 2019 High at $9,381

Bitcoin Shatters New 2019 High at ,381

Just a couple of weeks after bears threatened to break Bitcoin’s rally, Bitcoin price has now hit a new record for the year, trading at USD 9,381 just an hour ago. Now, it is trading at around USD 9,340 at 9:00 am UTC (CoinDesk), and an uptrend looks imminent with the opening of the European trading market.

It appears that after yesterday’s confirmation that the Bitcoin bulls had returned for a weekend showdown, Bitcoin price never looked back from USD 8,700, climbing over 7% in the past 24 hours with a steady ascending volume of trade also accompanying.

In the flash of a single weekend, the bulls who predicted a successful attack of USD 9,000 and a five-digit US dollar valuation by June will suddenly feel they are on the brink of vindication. After trailing behind its cousin Litecoin in the past week in terms of valuation, it has now once more outperformed any other crypto in the Top 10 in 2019.

eToro analyst Mati Greenspan will be happy to remind people that he had predicted the breakout earlier in the week:

If Litecoin is indeed the leader, let’s look out for a Bitcoin breakout this week. 🚀🌛

— Mati Greenspan (@MatiGreenspan) June 10, 2019

Bitcoin’s halvening event is due to happen around May 2020, less than a year from now, and it could be that this is slowly adding buying pressure as people expect an increased scarcity to up the demand for the world’s most asked-for crypto.


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Exclusive London Bitcoin Fixer’s Client Wants 25% of BTC Market Supply

market, Dadiani, bitcoin, cryptocurrency, crypto

The Dadiani Syndicate set up by art dealer Eleesa Dadiani, known for putting 49% of Andy Warhol’s 1980 work “14 Small Electric Chairs” up for sale for crypto, has had some odd requests in her time.

As another fixer who has become adept at matching the wealthy to their crypto requirements, Dadiani has found a new life after leaving the art world, and with Bitcoin on the up, the requests are coming in hard and fast.

Perhaps the most extravagant request she has been faced with in recent times, operating from her office in London’s exclusive Mayfair, was a client who wanted to buy “up to 25% of the Bitcoin market“—an amount in the billions of dollars. The syndicate describes itself as a P2P network for the very wealthy, but this kind of wealth only comes to a few.  However, this particular challenge is far from achievable, as eToro’s Mati Greenspan points out:

“A buyer of this size is going to push the price up to make this kind of accumulation even more expensive… There are ways to offset that kind of demand-based price increase but after a certain level there’s not much you can do to prevent it.”

Greenspan maintains that of the potential 21 million bitcoins that will ever come into existence, “many will not be mined for a long time and many more are lost for good.” He adds that also many hodlers just won’t be prepared to part with their Bitcoin come what may, and with an estimated 5 million coins in circulation at present, the chance of acquisition of close to 25% of the market is highly unlikely.

Nonetheless, Dadiani has been asked, “to scour the markets and gain access to as close to 25% as possible.” She says, “art and cars are a small industry, bitcoin and crypto is something different.”

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Bitcoin Price Stops Shy of $9,000, Support at $8,700

Bitcoin Stops Shy of ,000, Support at ,700

After springing yet another weekend surprise yesterday, Bitcoin price made another attempt at USD 9,000 in the last 24 hours but ultimately accepted the resistance to settle around its current price of USD 8,750, after finding very solid support levels just around USD 8,700 (2:40pm UTC, CoinDesk).

Bitcoin bulls will take a lot of cheer from the price action today, which generally showed a positive inclination to go up, right after a tight pullback from the 24-hour high of USD 8,921. European markets saw trading see-saw in a tight range, breaching USD 8,800 several times but eventually falling to support levels, as the markets now give way to North America.

On the back of Bitcoin’s impressive double-digit gains, other altcoins have enjoyed strong rallies, with EOS, Ripple (XRP), Ethereum and Litecoin all recording strong gains, with the expectation that the Bitcoin trudge towards USD 10,000 is all but an eventuality.

To put things in perspective, Bitcoin was last at this price 12 months ago, before embarking on a descent ever since until January 2019. It is now 70% higher than it was last month.

Along with this most recent spike in price, Bitcoin has dragged the entire market capitalization for cryptocurrency up by over USD 20 billion, with 75% of that thanks to Bitcoin itself.

Bears will remind that even the bullish 200-day moving average (200-MA) is still hovering around USD 4,500, so even a sudden crash could hurt speculators quickly. Despite the lack of bad news and negative developments in the industry, the equal dearth of particularly positive news or even Bitcoin whale movements still has most analysts puzzling over this recent turn of events.

Others like eToro crypto analyst Mati Greenspan feel perhaps they shouldn’t jinx the market by hoping the Bitcoin market stays for a while near its current highs in consolidation.

Maybe should’ve kept my big fat mouth shut. 😂🤣

— Mati Greenspan (@MatiGreenspan) May 28, 2019


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Winklevoss: Bitcoin is Gold 2.0

Winklevoss: Bitcoin is Gold 2.0

Tyler Winklevoss, one half of the famous Winklevoss Twins who manage digital asset platform Gemini, has spoken out about Bitcoin as the new digital gold, calling the world’s foremost cryptocurrency “Gold 2.0”.

Bitcoin is gold 2.0. It matches or beats gold across the board. It’s market cap is ~140bil, gold’s market cap is ~7tril. Do the math!

— Tyler Winklevoss (@tylerwinklevoss) May 16, 2019

According to his argument, Bitcoin’s position in the market today after only 10 years of existence has proven its staying power, and has now in fact displaced the precious metal in several comparisons. This includes a market capitalization of around USD 140 billion, compared to gold’s USD 7 trillion market cap.

Those who believe that Bitcoin is a store of value will probably enjoy the fact that the theory is supported by someone as influential as Winklevoss, although there will be others who say that for Bitcoin to succeed as a digital currency in the way it was originally deemed, its value needs to be more predictable and less volatile.

Senior market analyst at eToro, Mati Greenspan believes that both sides of the equation bear merits, seeing individual strengths for both gold as a traditional store of value in times of crisis and Bitcoin as a digital currency. As he points out, switch the power off and you can’t use Bitcoin:

Yeah. Bitcoin is digital gold and has advantages over regular gold. However, physical gold also has advantages over bitcoin.

It can be used to make jewelry or technology and can be used in the event of a total system meltdown. If the power goes out, you can’t use bitcoin.

— Mati Greenspan (@MatiGreenspan) May 16, 2019

Other industry giants like crypto fund Grayscale, for example, go even more extreme, launching a  #dropgold campaign calling for Bitcoin to replace gold as a store of value in the new global digital economic model.

Whichever the opinion, it is becoming clear that Bitcoin cannot be ignored, whether as a revolutionary new technology, or digital money, or store of value. 


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Survey: Millennials Don’t Mind Retirement Plans Facilitated with Crypto

Survey: Millennials Don’t Mind Retirement Plans Facilitated with Crypto

Marketing consultancy Edelman has published a new report that reveals millennials have sizeable investments in the cryptocurrency industry. The report also noted that 74% of millennials into crypto say tech innovations like blockchain make the global financial system more secure.

This has been corroborated by a recent study carried out by eToro revealing that almost half of the millennial generation trust in the cryptocurrency market exchanges more than the traditional stock market exchanges, and US respondents would also consider a 401k retirement plan in crypto.

eToro’s study sampled 1,000 online traders and reportedly found 43% of the millennial respondents losing trust in the traditional capital market. Meanwhile, 77% of the older generation sampled are dogged customers of the established capital market.

Accordingly, Managing Director of eToro Guy Hirsch commented on a “generational shift in trust”, which is what blockchain stands for ideally. He went on to suggest that the shift may have been due to the economic crisis and the resulting financial impediments meanwhile the institutions which were supposed to provide confidence were blossoming at the peril of the customers.

Forward-thinking generation

Sometime last year, Swiss Fintech company Creologix concluded that most millennials were not saving for retirement but were, however, stocking up on cryptocurrencies in an attempt to leverage the financial security these new asset classes may provide. eToro’s report also indicated half of the respondents from the survey showed interest in a 401k plan facilitated by crypto.

In the United States, perhaps one of the reasons driving these millennials more into crypto is because of the insurmountable pressure of college debts as well as the quest for financial stability, especially with the speculation of another global economic crisis on the horizon.

Compared to other traditional investment vehicles, cryptocurrencies also have been reported to have more appeal to millennials whereby a survey had inferred that: “For Millennials the soaring performance of Bitcoin – followed by an almost equally profound correction – holds more intrigue than the prospect of steady growth in house prices.”

Paradigm blend

The cryptocurrency industry has taken up a likeness to the traditional capital market as it mimics mechanisms such as the traditional funding in the form of initial public offerings and translating it to initial coin offerings, which in its own way has contributed to mass adoption of blockchain and its underlying asset classes.

In order to remain consistent with the technological shifts, as seen with social network evolution, user experience-centered markets tailored by millennials, most legacy institutions are now in conformity with trends in the blockchain industry. And as the report further stated:

“Despite millennials trust in crypto over traditional stock, they are still enthusiastic about the prospect of traditional financial institutions offering crypto assets.”

More so, most of the millennials acknowledge interest in crypto-related products if offered by TD Ameritrade, Fidelity, or Charles Schwab.

Moreover, the crypto industry continues to prove itself as the revolutionary financial technology innovation it’s touted to be, as it attracts institutional investors to the emerging crypto derivative classes; security tokens as well are finding their way into the industry.


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Crypto Will Surge in 2019 as People Better Understand Underlying Tech

Crypto Will Surge in 2019 as People Better Understand Underlying Tech

Cryptocurrencies will surge moving forward according to Etoro managing director and cryptocurrency expert Iqbal Gandham. He is convinced that a greater understanding of cryptocurrency’s underlying technology will create a rally in Bitcoin and other digital currencies this year.

Speaking on Sky News, Gandham still feels that “Bitcoin is the so-called ‘daddy’ of the crypto-asset market”, adding, “It is just as other companies are dragged down by stocks performing in the FTSE 100, whether they are positive or negative, people look at Bitcoin as a bit of an index“.

Gandham suggested that the 2018 80% decline in the value of Bitcoin from USD 20,000 to USD 4,000 is insignificant movement and belies the fact that development in the industry is surging. He said:

“If you have a look at the amount of developers and the development happening in the underlying blockchain technology and also Bitcoin, it is increasing. It hasn’t declined… if people understand the technology rather than just view the price point – they will understand that this is not something that is just going to go away.”

Misha Libman, co-founder of blockchain art laboratory, said any attempts to predict the value of Bitcoin was futile and basically a waste of time commenting:

“Every morning I wake up reading about the rise and decline of crypto and I am fascinated by the incredibly technical and visually sophisticated graphs predicting its future that borderline an art project.”

Libman’s view is that blockchain and cryptocurrency are the future, but there will be forces beyond Bitcoin that create its fluctuation price volatility; factors that have no real connection with cryptocurrencies place in the future of financial markets. He argues:

“Ultimately we are dealing with a new technology and new asset that is highly speculative, illiquid, and elusive, and drivers for its rise and fall is anyone’s guess and can be attributed by the media… the rollercoaster volatility that we are seeing today is something we are going to have to live with for a while until we will start using crypto to buy chewing gum.”


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Apple Loses Near Equivalent of Bitcoin’s Entire Market Cap in One Day

Apple Loses Near Equivalent of Bitcoin's Entire Market Cap in One Day

Apple’s recent hit in valuation due to the recent slowdown in China’s juggernaut economy illustrated to Bitcoin and cryptocurrency followers just how far the industry needs to develop to become a household name itself.

Falling revenues at the company are unprecedented in recent times with shares trading at their lowest since July 2017, and the hit it took last week was one of the worst since January 2013.

Given that Apple is just one company, albeit, one with total global recognition, it was nonetheless able to wipe $65 billion of its evaluation last week, roughly Bitcoin’s total market cap, and continue in business. At the time of writing Bitcoin’s market cap stands at $66,903,300,377 with its value at USD3,830.48 according to CoinMarketCap.

The cryptocurrency environment is still attempting to recover from its hammering of December 2017, with 2018 showing a $700 billion loss from its market cap and cryptocurrencies shedding 85% of their worth. However, tech giants appear to be having their own unique problems too as the world’s 5 household names in tech, Facebook, Amazon, Apple, Netflix, and Google, may have lost over $1 trillion from their all-time high.

Market Analyst, eToro guru Mati Greenspan comments that this slump could well be in Bitcoin’s favor suggesting that “A correlation of <0.1 is considered weak. If the stocks keep sliding and bitcoin rising, that grey line could plummet. Then Bitcoin might be seen as a safe haven.”

Apple’s CEO Tim Cook suggested that China, Hong Kong and Taiwan account for almost 20 percent of the company’s revenue, so that any slump in those regions is sure to impact company profits as a whole, adding, “While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China.”

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UK’s FCA Continues Clampdown on Unauthorized Exchanges

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The UK financial regulator, the Financial Conduct Authority (FCA), is continuing its probe into the activities of unauthorized cryptocurrency firms.

According to information received to a freedom of information request by The Sunday Telegraph, the FCA had opened inquiries into as many as 67 cryptocurrency related inquiries since the middle of November. 49 of these inquiries are now closed, with 39 consumer alerts being issued to companies operating without authorization. The other 10 have received warnings.

Currently, 18 cryptocurrency related lines of inquiry are still under review following the FCA’s statement cautioning the public earlier this year that cryptocurrency CFDs such as the popular options offered by eToro, were “extremely high-risk, speculative products”. Companies dealing in cryptocurrency related investments in the UK still require rubber-stamping by the FCA before a license to operate is issued.

The FCA has declined to comment on the investigation into the remaining 18 cases. The UK regulator has already revealed its intention to be tough on the cryptocurrency market since digital money is a part of the financial market and subject to the same level of scrutiny. There is already a discussion on banning specific crypto financial instruments, such as Bitcoin futures.

FCA’s executive director of strategy and competition Christopher Woolard cited “integrity issues” as a reason for also considering placing a ban on cryptocurrency derivatives in an event in London on the 20th of November.

The focus, according to Woolard, would be on what the FCA has called “cryptocurrency contracts-for-difference (CFDs)” which would likely cover “options, futures and transferable securities,” with concerns that “retail consumers are being sold complex, volatile and often leveraged derivatives products based on exchange tokens with underlying market integrity issues”.

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Canada Urges Cannabis Retailers to Protect Customers’ Data

Canadian authorities are encouraging Canadian citizens to conduct cannabis purchases in cash in order to protect their personal information.

The Office of the Privacy Commissioner of Canada has published a document advising Canadian citizens that “adequate physical, technological, and organizational security measures are in place to safeguard personal information,” suggesting that that security protocols “must recognize and respond to the sensitivity of this information.”

The commissioner emphasizes that cannabis purchasers should minimize the amount of personal information given to retailers. Also, credit card purchases can be risky due to the online visibility of the credit card number and the cardholder’s name. Customers are also advised to ascertain before purchasing if their personal information is then stored online.

The reaction to this advice by eToro market analyst Mati Greenspan is that the liberalization of Canada’s cannabis sector will be a huge boon for local privacy coin adoption suggesting, “this will almost certainly increase the usage of privacy coins…in Canada,”

Under Canada’s new liberal cannabis legislation introduced in October, plants grown at home will be limited and only 30 grams will be allowed for personal possession in public. Also, strict driving legislation will allow police to track and penalize drug-impaired drivers through roadside saliva testing for over the limit THC content.

Supply chain management is sure to become a major factor under Canada’s new legislation. DMG Blockchain Solutions is currently negotiating with cannabis licensed producers, quality assurance labs, retail distributors, and government regulators, to develop a cannabis supply chain solution. DMG describes itself as a diversified blockchain and cryptocurrency company that works on end-to-end solutions to monetize blockchain’s ecosystem.

Statistics Canada says sales at cannabis stores in the two weeks following the landmark legalization totaled $43 million with different retail structures in each province and territory affecting the availability of cannabis across the country.

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