CORONAVIRUS AFFECTS ON BITCOIN MINING

As Coronavirus spreads and the epidemic worsens, Bitcoin mining farms in China are getting closed down by the local authorities with the intention of preventing the growth of the epidemic. The operator of BTC.Top, a Chinese Bitcoin Mining pool, Jiang Zhuoer, disclosed on a local microblogging website that the mining facilities of BTC.Top and a number of other ones are getting closed down by the police due to the health crisis in the country.

Jiang Zhuoer stated that a mining facility that he owned that was located in a remote suburb was forcefully shut down by the local police along with other facilities of this kind in the area. He added that he completely understands preventing people from going out, however, he could not grasp what was the meaning of shutting down the mining machines and how it would hinder the spread of the Coronavirus. Despite the fact that the exact location of the facility could not be verified, a number of commenters stated that the facility is located in a province far away from the city of Wuhan, which is the center of the epidemic.

Jiang Zhuoer also added that perhaps they were not the exception and other mining farms have also been shut down due to the outbreak. Yet, he also added that if the authorities continue this pattern many people will die not from the Coronavirus but from poverty. The economy of the country was significantly affected by the outbreak.

Bitcoin mining has been a large part of the Chinese economy, despite the fact that a couple of years ago the government had banned the trading of crypto assets. Around 65 percent of Bitcoin mining takes place in China. Despite the situation in China, the prices of Bitcoin, as well as the hash rate, have tremendously increased.

 

To learnmore information & details about BTC and its price, take a look at Bitcoin Price updates as well as Bitcoin (BTC) Price Predictions to stay up to date with the potential price and crypto market movements.

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Justin Sun and Warren Buffett Finally Met for a Dinner

 

Tron founder and CEO Justin Sun and CEO of Berkshire Hathaway and famous investor Warren Buffett finally had charity dinner in late January.

On January 23, Sun and Buffett met for a more than three-hour dinner in private nonprofit country club in Nebraska, in accordance with Bloomberg report. In the list of guests are mentioned names such as Litecoin Foundation CEO Charlie Lee, Huobi CFO Chris Lee, the head of the Binance Charity Foundation Helen Hai, as well as the CEO of eToro Yoni Assia.

Speaking about the dinner, Tron founder mentioned that it was an honor to have a dinner with Buffet. On his official Twitter account, he also thanked Buffet for support and advice on how to make Tron more successful.

Amazing dinner w/ @WarrenBuffett finally! Thx for your support & advice on how to take #TRON to the next level! Loved our talk on #Bitcoin, @Tesla & #TRON! Glad to support @GLIDEsf as well! C U at #BRK2020 & our reunion meal in 2030! Details below pic.twitter.com/tjulvv2C9k

— Justin Sun (@justinsuntron) February 6, 2020

A spokesman for Tron Ryan Dennis noted: “Justin’s approach to entrepreneurship, his outlook on investments and business, in general, have evolved since dining with Mr. Buffett.” According to his words, after the dinner, Tron founder is thinking about joining the Giving Pledge with Buffett and Bill Gates to donate the part of his property to charity.

It’s worth to mention that Justin Sun won a charity auction on eBay to have lunch with Warren Buffett in June of the previous year. His winning bid was around $4.5 million.

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ETHEREUM PRICE 9% INCREASE IN 24 HOURS

Ethereum (ETH), the second-largest digital currency in the market, has experienced a large price growth recently and has hit a point at which it has not been since September of last year. The currency has encountered the largest constant growth since the crypto price spikes in April of last year and eventually, the psychological barrier of 200 USD has been broken.

Based on Tradingview.com, a couple of hours ago Ether reached 207 USD, which is the highest value of the crypto asset in the last 19 weeks. Considering the last day, the Ethereum price has increased by nearly 9 percent as the strength of the currency’s price grows.

Compared to the beginning to January 2020, the price of Ethereum has earned an enormous growth of 58 percent outperforming both BTC as well as XRP, the first and third largest crypto assets, by a large percentage. There have also been gains in the markets of crypto products that have been heavily based on the Ethereum system and the interest rates are attracting the attention of a large number of investors to the Ether ecosystem.

Michael Novogratz of Galaxy Digital has noticed this shift and stated in a tweet that the higher prices of crypto have made him very bullish on the market. He specifically highlighted the growing prices of Ethereum as well as Bitcoin. He said that once Ether hits 200 USD and Bitcoin reaches the long-awaited 10,000 USD mark, the market will go up rapidly.

These two are extremely important price levels for the market and once both are achieved, the gains will increase exponentially. This is even more important for Ether as its current price is even now 86 percent less than the all-time high of ETH. All in all, the gains of the crypto market on the last day have been around 13 million USD with Altcoins being the leaders.

 

To receive more information & details on Ethereum & ETH price, check out Ethereum Price updates and Ethereum Price Predictions.

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INTERMEX AND RIPPLE PARTNERSHIP

The price of the third largest crypto asset in the market, Ripple’s XRP, has risen by 11 percent during the last day that enabled the digital asset to go over the 0.28 USD point for the first time this year.  At the same time, Ripple made a move to increase its influence in Latin American countries by establishing a new partnership with Intermex.

On February 4th, Ripple Labs, which is a blockchain company based in San Francisco, entered a partnership with Intermex, the leading payment company in Latin America that has over 100,000 spots. As a result of the partnership, Intermex now will have the opportunity to make payments that are quicker and more inexpensive to Mexico with the help of the RippleNet system that currently has more than 300 customers.

Even though it is vague if the partnership with Intermex influenced the price of XRP in any way, Josh Rager, a crypto trader, made the suggestion that the increase of Ripple’s XRP price to such heights was driven by BitMEX, when the crypto asset had a pair added with the USD on the exchange platform.

According to reports by U.Today, as the value of XRP increased by 8 percent, the other digital currencies in the TOP 10 by market cap were having price drops. After the extreme increase of the crypto price, XRP experienced another push upward and went above 0,28 USD. As the digital asset goes up, a number of crypto traders were following the price movements without committing to buying the currency. At the same time, a crypto analyst recently attracted attention to the fact that for the first time since March of last year Ripple’s XRP went over its 200-day price moving average.

 

To get more information on Ripple & XRP price shifts, have a look at Ripple Price updates as well as Ripple (XRP) Price Predictions to stay up-to-date with recent movements.

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BITCOIN PRICE PREDICTIONS

As Bitcoin’s price fails to stay above 9,600 USD, BTC enthusiasts are feeling disappointed. For the last three days, the price of the first digital currency has been going downhill as a big correction after a large spike. At this time, the value of Bitcoin is around 9,160 USD, the price has been going down by slightly over 1 percent on a daily basis recently. It is also worth noting that the number of accounts settled at 77 percent amongst divergence with the price shifts.

Regardless of the latest price shifts of Bitcoin in the crypto market, most of the people in the market voice their optimistic views of Bitcoin price and its future movements. A number of analysts say that technically the area between 8,000-9,000 USD as very important and will help to keep the market bullish provided that the price does not go down from that area.

Fundamentally, the upcoming Bitcoin halving, the fear of a new global recession, liquidity injections and the outbreak of the Coronavirus in Chini from the beginning of the year are perhaps some of the reasons for the recent Bitcoin price shifts. The Chief Executive Officer of financial services company deVere Group, Nigel Green, stated that Bitcoin is currently considered one of the safe-haven assets in difficult situations. He said that this was the reason why the Bitcoin price has been doing so well since the beginning of January of this year. According to crypto exchanges, as new users enter the cryptocurrency market, the volatility of digital assets is going to rise.

Technically, the support level for Bitcoin price is currently 9,000 USD based on psychological support. The next close level is 8,880 USD and after that, the price would crash down to 8,250 USD. On the upside, the price of BTC will rise drastically once it hits 9,600 USD.

 

To find out information & details about BTC and its price, take a look at Bitcoin Price updates as well as Bitcoin (BTC) Price Predictions to stay up to date with the potential price and crypto market movements.

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MORGAN CREEK CEO ON BITCOIN INVESTMENT

In the last decade, the first and largest crypto asset, Bitcoin (BTC) was considered the best asset for investment by the crypto news outlet. In addition, according to the Chief Executive Officer of Morgan Creek Capital, Mark Yusho, every successful investment portfolio should contain at least 1 percent of Bitcoin. These comments were made by Yusho in an interview on the Keiser Report with Max Keiser which was released on January 30, 2020.

Max Keiser also drew attention to the fact that the portfolios that did have a significant amount of Bitcoin performed 30 percent better than the ones that did not during the last 5 years. A large number of successful investors began using Bitcoin in the past 6 years after noticing the volatile nature of the digital currency and understanding how they could take advantage of the wide range of price shifts. As a result, a diversified portfolio containing Bitcoin provides advantages that portfolios with only traditional assets do not.

The highly volatile nature of Bitcoin is often thought to be an irrational risk for investors and that is one of the main reasons why many traditional investors have been so hesitant throughout the years to enter the ecosystem of digital assets. At the same time, volatility is what allows Bitcoin to be such a profitable investment and generate such great profit. Diversified portfolios also give the investor the least amount of risks compared to those that have only one type of asset. By applying traditional principles of diversification to the crypto market, investors achieve great results. In the future, it would be very profitable for investors to take advantage of assets such as Bitcoin that offer high returns and decrease risk by also investing in traditional assets.

 

The performance of Bitcoin has been dramatically improving as the next halving approaches. In order to find out information & details about BTC and its price, take a look at Bitcoin Price updates as well as Bitcoin (BTC) Price Predictions to stay up to date with the potential price and crypto market movements.

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GOLANCE CEO INTERVIEW ON RIPPLE

During an interview with Ripple Labs, the Chief Executive Officer of a freelance market company goLance, Micheal Brooks, discussed all the advantages of using the RippleNet payment protocol as well as the On-Demand Liquidity (ODL) service powered by XRP for the business in addition to their clients.

RippleNet is an international payment system by Ripple Labs with more than 300 financial institutions from over 40 countries worldwide as its users. Members of this network allows the users to make international payments that are quick, transparent as well as low-cost and can be executed using different currencies. Despite the fact that the On-Demand Liquidity service, that uses the company’s digital currency XRP for payments across different currencies, is not required to be used with RippleNet, it does improve the experience by decreasing the cost and time of the transactions. The members of the network, such as MoneyGram, and present On-Demand Liquidity users.

The Chief Executive Officer of goLance at the beginning of his interview with the crypto company stated that goLance is a firm for freelancers by freelancers. After that, Micheal Brooks explained how beneficial it was for them to use the RippleNet system along with On-Demand Liquidity and how it allowed to reach parts of the world where there is a lot of room for growth that face hardships while making payments.

He also gave a number of examples saying that people with low salaries in different parts of the world are not willing to pay a large portion of their salary to a bank that does the transfers hence why RippleNet is such a wonderful option with low fees and fast transactions. He added that we are moving away from transactions that can take place only while the banks are working and moving to a faster market.

 

To learn more information on Ripple & XRP price shifts, have a look at Ripple Price updates as well as Ripple (XRP) Price Predictions.

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