Your Cryptocurrency Newsletter for 26 November,2020

If you are interested in cryptocurrencies, this newsletter is for you. [img]  [Learn more about RevenueStripe...](   [Learn more about RevenueStripe...]( [img]( [FeedBinary Newsletter]( [Bitcoin Keeps Rising and This is Why]( The narrative in bitcoin is cyclical, and given its extreme volatility, it is normal: when it plummets from highs, its detractors talk that the most popular of cryptocurrencies “has no future and is dead .” On the other hand, when it approaches or achieves new price records, its apologists begin to talk that it will go up 10, 100 or a thousand times more.What is the reality? That bitcoin is a monetary experiment with less than 12 years of life, of which nobody knows if it will manage to consolidate itself as a globally accepted system for electronic commerce. That, let’s not forget, was the purpose of its creation, which, however, will not be achieved as long as its high volatility continues to make it unfeasible for the establishment of prices convertible into currency at a more or less stable exchange rate. Perhaps one day bitcoin will achieve such stability, but in the meantime, the truth is that amateur and professional investors will continue to use it as an ideal instrument for ‘trading’ (buy / sell) that allows achieving large profits (and losses) fast.In short, we must not be guided by emotional extremes but by the fundamentals of supply and demand for bitcoin that are increasingly stronger and that, as in other instruments, mark their greatest long-term trend. For example, last October the company Square Inc. made a massive purchase of 50 million dollars in bitcoins. He did this by considering “that cryptocurrency is an instrument of economic empowerment and provides a way to participate in a global monetary system, which is aligned with the purpose of the company.”Square is an American company specializing in financial services, mobile payments and services for small businesses, based in San Francisco, California. It has been listed as a public company on the New York Stock Exchange since November 2015, but what stands out is that it is a large global technology corporation that adds bitcoin to its balance sheet. But in addition to Square, new companies have joined the adoption of bitcoin this year, such as the giant of electronic payments, PayPal, who announced at the end of October that its users could buy bitcoin and other cryptocurrencies such as ETH, Bitcoin Cash and Litecoin.Likewise, with the arrival of the COVID-19 pandemic, there have been phenomena that, on the one hand , have favored both trade and the use of the different existing forms of electronic money. Confinement, “healthy distance”, the habit of avoiding direct contact between people, including handling cash, is pushing more and more people to use commerce and digital means of payment.On the other hand, the cessation of economic activities that has precipitated the worst global crisis and recession in a century, has forced governments and central banks around the planet to launch an “atomic bomb” of fiscal and monetary stimuli that will cause inflation of new financial bubbles. Because of this, which is already the largest monetary and debt injection ever, the assets in which to invest are those whose demand will continue to increase because, when financial bubbles burst, they will provide their holders with ample product returns. From the desperate search for a solid haven of value .In these assets count of course strong currencies (dollar, euro, yen), gold and silver as well as bitcoin, cryptocurrencies and real assets.In short, we must avoid falling into the error of discrediting bitcoin. Cryptocurrencies are here to stay, and with their increasing adoption by big players and retail investors, their uptrend will continue to strengthen their prices to unpredictable levels. [Read Full News]( The post [Bitcoin Keeps Rising and This is Why]( first appeared on [Feed Binary](. [Read Full Story]( ------------------ You Might Like     [Learn more about RevenueStripe...]( ------------------ [Bitcoin Climbs Towards All-Time High After Topping $19,000]( Bitcoin moved to within a whisker of its all-time high on Tuesday, after hitting $19,000 (roughly Rs. 14 lakhs) for the first time in nearly three years.The world’s most popular cryptocurrency was last up 4.8 percent at $19,225 just shy of its all-time record of $19,666 (roughly Rs. 14.5 lakhs) hit in December 2017. Bitcoin has gained around 25 percent in the last two weeks alone, and is up around 160 percent this year.Fuelling its rally have been demand for riskier assets amid unprecedented stimulus programmes to counter the COVID-19 hit; hunger for assets perceived as resistant to inflation; and expectations cryptocurrencies will win wider acceptance as a method of payments. Bitcoin’s 12-year history has been peppered with vertiginous gains and equally sharp drops. Its markets and price discovery is highly opaque compared with traditional assets such as stocks or bonds,My base-case scenario is that we will break the 2017 high and hold above it,” said Fawad Razaqzada, an analyst at FX brokerage Think Markets. “But if you get an immediate rejection above the all-time, that would raise the possibility of a correction.”Smaller digital currencies such as ethereum and XRP – which often move in tandem with bitcoin – took a breather after gaining sharply in recent days. Crypto markets have matured since bitcoin’s December 2017 peak, attracting a greater number of large investors such as family offices and hedge funds.Its 2020 gains have prompted some investors to claim the cryptocurrency could more than quintuple in price to as high as $100,000 (roughly Rs. 74 lakhs) in a year, drawing eye rolls from sceptics who say it is a purely speculative asset. Analysts say bitcoin’s limited supply of 21 million makes it a good hedge against inflation. Some investors think the value of traditional currencies will fall as governments and central banks unleash massive stimulus packages to support economies hit by COVID-19.Yet bitcoin’s gains have continued even as gold – traditionally a go-to hedge against inflation – has slipped, with a resurgent pandemic making global growth and inflation recovery a more distant prospect. Gold has shed 3.6 percent this month, versus bitcoin’s 40 percent gain.Bullish investors cited expectations that bitcoin would achieve mass use as a means of payment, something it has so far failed to do, as a reason for the divergence.Mainstream companies such as PayPal have embraced cryptocurrencies, sparking hopes bitcoin would become widely used and thus more valuable. With BTC one is also long a global currency which is now not just a easily accessible store of value but also a convenient payment mechanism,” said Michael Hall at Nickel Digital Asset Management, a crypto fund in London. [Read Full News]( The post [Bitcoin Climbs Towards All-Time High After Topping ,000]( first appeared on [Feed Binary](. [Read Full Story]( ------------------ You Might Like     [Learn more about RevenueStripe...]( ------------------ [Wrapped Filecoin Comes to DeFi on Ethereum]( Crypto custody provider Anchorage is helping bring wrapped Filecoin tokens into the DeFi ecosystem.Anchorage, a crypto custody provider, has partnered with Tokensoft to bring wrapped Filecoin to DeFi markets.Wrapped Filecoin uses third-party custodians to create 1:1 replicas of Filecoin’s native FIL token onto other blockchains, like Ethereum.Filecoin is also working with other cross-chain wrapping services, like Ren, to bring FIL tokens to a wider audience.Filecoin, which has become one of the largest decentralized storage projects on the market after launching in October, is getting a boost from crypto custody provider Anchorage to access liquidity from the DeFi industry. Anchorage announced yesterday the release of Wrapped Filecoin (wFIL) in cooperation with Tokensoft and investment firm CMS Holdings. Wrapped Filecoin, part of the Wrapped program designed to bring cross-chain assets to the Ethereum blockchain, could bring much-needed liquidity to the nascent Filecoin storage market, while helping DeFi protocols generate returns for users. DeFi, short for decentralized finance, is a group of protocols designed to provide financial services like those of traditional banks without relying on centralized infrastructure.Wrapped cross-chain tokens have become an important part of the DeFi mix. Solutions like Wrapped Bitcoin have helped bring more than $2.3 billion of value to the DeFi ecosystem, according to DeFi data provider DeFi Pulse. Like wBTC, wFIL uses a system of custodians to hold the underlying asset (in this case Filecoin’s native FIL tokens) and issue 1:1 “wrapped” token versions on blockchains like Ethereum. “Wrapped Filecoin will enable some really creative DeFi products that create huge opportunities for Filecoin miners and storage users,” Filecoin Head of Ecosystem Colin Evran said in a press release. “We’re seeing so much innovation every day from dozens of individuals and institutions interested in decentralized storage, and are excited to see what happens once the deep DeFi talent pool can join in.” Ethereum’s DeFi market offers large amounts of liquidity, or value in the form of tokens, that makes it easier for traders to find fair prices for assets or provide credit to invest in building new technologies. That makes compatibility attractive for Filecoin, which uses a separate market for pricing storage capacity for different use cases. Bridging DeFi liquidity between Ethereum and the native Filecoin market should allow more traders to buy and sell wFIL tokens, leading to pricing that more accurately reflects supply and demand for Filecoin’s storage capacity. In return, DeFi users may reap the rewards of Filecoin’s growth, which would otherwise have been out of reach on the Ethereum chain. As earlier reported by Decrypt, Filecoin is also pursuing cross-chain trading for FIL tokens in partnership with Ren, which is designing a system of smart contracts to hold custody of native tokens without relying on third-party custodians. But Ren is, for the moment, still moving toward decentralization itself—in August, Ren took heat for making Ren Bitcoin wallets, used to store Bitcoin tied to Ren’s wrapped renBTC offering, accessible to members of the Ren development team.Wrapped Filecoin can be accessed now on decentralized exchange Uniswap, and Anchorage and Tokensoft plan to add cross-chain capabilities to additional native tokens in the coming months. [Read Full News]( The post [Wrapped Filecoin Comes to DeFi on Ethereum]( first appeared on [Feed Binary](. [Read Full Story]( ------------------ You Might Like     [Learn more about RevenueStripe...]( ------------------ ------------------ Connect with TheFeedBinary on Facebook and Twitter [fb](  [tw]( ------------------ You received this email because you operate or create content for a website/service and based on your website it seemed like this could be important information to you and your users. 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