Where It All Started.

Where It All Started.

Life, Stock Trading, Investments, Business and Startup. Most are programming stuff.

Month: January 2022

Bitcoin (BTC) Still Bullish According To BlockTower

The continuous Bitcoin volatility, according to BlockTower Capital’s general partner Michael Bucella, should not come as a surprise because it is part of the asset’s development trajectory.

Bucella told CNBC that while Bitcoin is still a new asset class that is still growing, the future picture is still bright.

The price drop of Bitcoin below $35,000, according to Bucella, is also a chance for ordinary investors to re-enter the market.

Bitcoin is still firmly in growth mode, and if you look at a logarithmic chart, it’s still a long term bull trend. It’s still a young asset class, this is not all too surprising volatility, and Bitcoin and Ether were structurally low and declining over the last year

As a result of the sector’s wealth creation, he admitted that the large crypto growth forecasted for 2021 would not be sustainable. Because the increase overlooked basic reasons, it is difficult for the asset to maintain its price above $50,000, according to Bucella.

The asset’s decline began in the previous two months, when it fell below the $40,000 threshold. The top-ranked cryptocurrency was trading at $33,600 at press time, down more than 6% in the past 24 hours.

Similarly, he has urged investors not to be concerned about the market’s current volatility, stating that the digital currency would continue to rise rapidly in the future.

Historically, the high volatility of Bitcoin has enticed investors to participate, but according to Invesco, the circumstance will deter traders from doing so.
As a result, the investing juggernaut predicts that the Bitcoin bubble will break in 2022.

Major Firm BlackRock To Create It’s Own Blockchain ETF

According to a filing with the US Securities and Exchange Commission on Jan. 21, BlackRock Inc., the world’s largest asset management business, has applied for an exchange-traded fund (ETF) that focuses on blockchain technology.

The iShares Blockchain and Tech ETF invests in firms that are involved in the “creation, innovation, and application of blockchain and crypto technologies” in the United States and overseas, according to the company.

The NYSE FactSet Global Blockchain Technologies Index is followed by the fund.
According to BlackRock, up to 80% of the ETF assets will be invested in equities that are part of the index. The remaining funds would be used to invest in equity-based futures, options, and swap contracts. Furthermore, the fund will not invest in cryptocurrency, either directly or through crypto asset derivatives.

“Similar to shares of an index mutual fund, each share of the Fund represents an ownership interest in an underlying portfolio of securities and other instruments intended to track a market index,” according to the SEC filing.

Google Going Crypto

As the firm looks to provide a wider range of financial services, including cryptocurrencies, Google has hired veteran PayPal CEO Arnold Goldberg to manage its payments division.

Google’s action comes after years of debating whether or not to invest directly in the embryonic blockchain technology. Twitter’s investment in crypto infrastructure, as well as Facebook’s efforts into the metaverse, look to be catching up to the internet giant.

Also Google hired a new “Founding Leader” for blockchain project, Venkataraman.

According to his LinkedIn page, Venkataraman, who has worked for Google for more than 18 years, brings more than 25 years of experience as a software engineer with firms such as IBM, as well as more than 10 years in paid advertising for the internet giant, to the table.

Total Crypto Market Cap Will Reach 5 Trillion USD In 2022 According To AvaLabs CEO

In 2022, John Wu, the CEO of Ava Labs, a blockchain business that creates the software for the Avalanche (AVAX) blockchain, offered a lot of fascinating forecasts for the cryptocurrency industry.

Wu began by presenting Avalanche in an interview with Kelly Evans, anchor of CNBC’s “The Exchange,” on December 31, 2021:

Avalanche is the fastest blockchain. It’s Ethereum compatible and it’s the fastest growing blockchain based on usage.

After that, Wu was pressed to explain why Ethereum has outperformed Bitcoin in 2021, and here’s what he had to say:

Oh yeah. From a price action perspective, sure. And from a usage perspective. I mean Bitcoin was up 65% and I think Ethereum was up 500%. So, yes, from that perspective and market dominance, Ethereum definitely gew, but that’s because there was more usage there on Ethereum.

Wu then went on to discuss how far the cryptocurrency business may expand in 2022:

I think when I come back in 2022, the asset class, which is roughly about 2.3 to 2.5 trillion [dollars], we’ll be talking about [how] the biggest story in 2022 is how the crypto asset class doubled and went to five trillion and it’s going probably be the only asset class that could withstand the headwind from the macro factors of Fed tightening and geopolitical issues that are out there.

And I think the reason is very simple because from where I sit, what I see is basically a massive inflow of talent, capital, and usage and listen, I’m almost embarrassed to say that that’s a prediction because I’m just reporting what I see on a daily basis.

Pavia Metaverse Project Debuts On Cardano (ADA)

The Metaverse is currently in its early stages. While Ethereum-based metaverse games like The Sandbox have exploded in popularity, investors are also interested in developing applications on secure PoS networks like Cardano. One of the distinctive triggers for ADA’s recent climb is its inclusion, which is interesting.

Pavia, a Cardano-based metaverse project, is identical to Decentraland but for one major difference: it is based on Proof-of-Stake (PoS).

Pavia’s admission into the Cardano ecosystem comes at a time when its own crypto-asset, ADA, has been under constant negative pressure as a result of the market-wide downturn.
However, the NFT activity on top of the network gave the token a much-needed boost, and it now trades at $1.55, up over 14 percent in the previous 24 hours.

Pavia, the Cardano blockchain’s freshly released gaming application, has huge aspirations for this year. At least 100,000 “land parcels” have been released so far, each of which is minted as a unique numbered Cardano NFT (CNFT) based on coordinates. In October and November of last year, more than 60% of the land lots were pre-sold. The remainder will be available in the current quarter.

Pavia has around 8,300 landowners, according to the official website. They cannot, however, visit or install any material into their separate land parcels at this time. The staff was working “to offer the in-game Pavia experience,” according to the website.

Pavia, like other metaverse projects, includes an in-game money called PAVIA that is utilized for usefulness inside the metaverse ecosystem.
After a blockchain snapshot in December 2021, Pavia NFT landholders received a 25% airdrop of this native coin.

Pavia has recently announced a partnership with readyplayer.me, a cross-game avatar platform for the metaverse, to allow users to create their own avatars that are interoperable with over 700 applications and games outside of the Pavia ecosystem.

Pavia plans to bring liquidity to Cardano decentralized exchanges [DEXs] and investigate cross-chain liquidity in the first quarter of 2022.

It also intends to investigate on-platform assets, gamification, and other topics. The project’s goals for the next quarter are to collect all comments and “start building for the in-game Pavia.io experience look and feel,” as well as to double down on interoperability, cross-chain, and cross metaverse. Pavia Plaza will host the first live event in the third and fourth quarters, and Pavia portal testing will commence.

U.S. Inflation Hits 7% First Time In 40 Years And What It Means To Bitcoin (BTC)

Inflation in the United States just reached 7%, the highest level in 40 years.

The recent Consumer Price Index (CPI) data boosted Bitcoin and Ethereum prices by more than 3% and 4.5 percent, respectively, bringing their unit values above $43,000 and $3,300.

While historical trends imply that the $11 trillion gold market is the best bet for a secure hedge against dollar depreciation, the crypto market’s reaction to current inflation suggests that many people are willing to resort to cryptocurrencies this time.

This is especially true for many people in the medium to upper income brackets who want to preserve their cash and near-liquid investments from depreciation.

With over 160 percent value rise in 2021, Bitcoin, Ethereum, and other cryptocurrencies have a higher chance of being a viable alternative to fiat value loss for the typical American investor.

According to the most recent Consumer Price Index chart, energy (33.3%) is the leading driver of inflation, followed by housing (4.1%), food costs (>6%), cars, and medical care services (>2%).

Since Biden cut off domestic exploration in favor of importation, the United States has been experiencing increasing gasoline scarcity.

The Federal Reserve System of the United States announced in November that it expects a further increase and has already planned procedures to contain such a spike.

The hike in interest rates is one of the most important of these initiatives, as it will limit increasing borrowing throughout the time.

Bitcoin (BTC) To Reach Six Figures According Goldman Sachs

According to Goldman Sachs, the price of Bitcoin might reach $100,000 in the near future. The largest cryptocurrency, according to the financial giant, presently accounts for a quarter of the worldwide store of value market.

If Bitcoin continues to eat away at gold’s market share, it might approach the six-figure mark. Bitcoin evangelist Max Keiser sees the price hitting $220,000 this year due to the network’s rapidly growing hashrate. Bitcoin, on the other hand, has limited upside, according to legendary investor Ray Dalio. While Bitcoin increased by about 60% last year, it lagged behind the bulk of altcoins and even some major corporations.

MicroStrategy CEO Michael Saylor, on the other hand, believes Bitcoin will reach $600,000.

Despite experiencing substantially less volatility, Apple shares managed to outperform Bitcoin in 2021, according to Joe Weisenthal, co-host of the Odd Lots podcast.

Furthermore, as compared to real estate and the S&P 500 index, Bitcoin’s risk-adjusted returns are significantly lower.