The recent dramatic rise in the share price has raised hopes for a future bull market. But is the price really the only interesting thing about crypto currencies?
The recent jump in Bitcoin’s share price gives rise to renewed hope for a stronger Bitcoin share price. Understandably: the sour cucumber period since the beginning of May, in which the Bitcoin share price only oscillated between downward and sideways movements, was interrupted. That’s fantastic, but it doesn’t hide the fact that we’re not over the mountain yet. In the weekly chart, the Bitcoin price is still below the moving average of the last twenty weeks, which is a reasonable estimate of the bull and bear market. Likewise, Bitcoin’s trading volume is still as low as it has not been for a year:
Between the beginning of May and the end of June, the Bitcoin price lost over forty percent. To make up for this, it needs more than a pump induced by BlackRock, the possibly coming ETF or other reasons. Even though over 20 percent in two days is incredibly impressive, the price would still have to rise thirty percent even now.
What can we learn from the Bitcoin profit review?
I don’t want to complain. It’s more about the Bitcoin profit review: How can this upward trend be used meaningfully? A look back at the past will help here. 2018 was by no means the first bear market. In 2011 and 2014 there have been equally drastic moments for the community. Even then, many lost a lot of money. Especially in 2014 a long bear market began. It took several years for the Bitcoin profit review market to recover. Crypto currencies that were in the top 10 in 2014 are now unknown. Megacoin, once ranked tenth in terms of market capitalisation, is currently ranked 925th.
But the scene didn’t sleep or just complain about losses – Bitcoin was still used. Bitcoinstad Arnhem, founded in May 2014 during the „Bear Market“, continues to exist and is a showcase of Bitcoin’s use. Ethereum, whose white paper was published at the end of 2013, was also launched in the bear market, more precisely in July 2015. Joseph Poon published the White Paper on the Lightning Network at the beginning of 2016.
Of course, trading was also done at that time, but by no means exclusively. The bear market and also the slowly recovering market was therefore a fruitful time. The focus was on technical use cases and real use.
How can a secure connection to a real asset be realized in the sense of a Bitcoin profit scam?
Layer 2 solutions, stablecoins and decentralized stock exchanges: the tech trends of 2018
Even before the recent jump in the Bitcoin profit scam, a lot of positive things were happening – in the technical area. A few months ago I criticized that more recent projects have too much focus on announcements and partnerships. In the meantime, there is again a lot of interesting things to see in the Bitcoin profit scam ecosystem:
The Lightning Network, Bitcoin’s Layer 2 solution, is Bitcoin’s answer to the scaling problem. We have reported elsewhere about the extremely busy developer scene around the off-chain solution. According to Lightning’s 1ML monitor, capacity has now increased to 80 Bitcoin, a 200 percent increase over the last month. Behind Lightning or similar solutions like COMIT or Plasma is much more than a scaling solution. It is extremely important that projects not only develop new crypto currencies, but also advance the application layer.
Decentralized stock exchanges have not only caused a stir with the latest statement by Vitalik Buterin. The fact that Binance, one of the largest crypto exchanges, wants to set up a DEX shows how important this technology is perceived. Strictly speaking, centralized exchanges are a single point of failure. Even if the latest Bancor drama shows that there is still a lot to be done, decentralized exchanges will shape the trading and investor landscape in the crypto sector – especially in connection with the Lightning Network and Atomic Swaps.
Stable coins such as tether have led to many controversies. Nevertheless, stable coins, crypto currencies whose value is firmly linked to an underlying, are an interesting concept. Stablecoins can create a safe haven for decentralized stock exchanges without the possibility of exchanging them in Fiat, where digital assets can be temporarily transferred. Technologically, there is even more at stake.
All these trends have one thing in common: they are accompanied by a few „Lambo“ calls. The mood has cooled down in a positive way. The crypto-ecosystem is to be developed within the framework of various projects – one catchword is therefore #BUILDL.