Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Capitalization of stablecoins grows by 300%, an anonymous trader predicts the growth of BTC to $540,000
The beginning of September 2020 was like this – literally in one day, Bitcoin repeatedly fell below $10,000, but invariably returned by the time the candle shut.
On October 1, 2020, the market continued to be in the black: BTC was trading around $10,800, ETH was around $360. But literally ten hours later, both the first and second cryptos dropped, namely BTC $10,400, ETH — about $330. Despite the drawdown, the third quarter closed with a growth of bitcoin by +17.6%. According to Cryptorank data, BTC closes the historical, price-complex quarter in plus (+17.6%). Moreover, closing the third quarter of 2020 with a price of $10,754 is the second most profitable in the history of bitcoin.
***
To date, the total market capitalization of all stables has grown by 300% since the beginning of 2020.
According to CryptoRank, the total market capitalization of all stables has reached $20.2 billion. Most often, crypto investors use stablecoins to minimize risks and fix profits. This increase in the popularity of stables over the recent period may be associated with a large influx of new investors into the market.
***
Bitcoin enthusiasts most often prefer to use Twitter to share their thoughts, new information or even misinformation about the most important cryptocurrency.
Tyler Winklevoss alone, from June 1, 2020 to August 31, 2020, wrote more than 1,000 posts in which there was a mention of bitcoin. This week, researchers from the Santiment team noted a decrease in the interest of Twitter users in the first cryptocurrency. The number of posts mentioning bitcoin has fallen to a two-year low. Analysts attribute what is happening to the recent fall in the value of BTC. In September, Bitcoin did not hold above $12,000 and fell to $10,000. The market often moves against the crowd, towards the lowest expectations. It's safe to assume that if traders on Twitter are pessimistic, then the rally is more likely to resume.
***
Cryptocurrency exchange Gemini has added support for secure transactions for withdrawing funds in Zcash.
This feature will hide the size of the transaction and the identity of the sender. After long negotiations with regulators, the Gemini exchange became the first regulated exchange to support withdrawals through secure Zcash transactions.
***
Starting October 15, 2020, Bitfinex, in partnership with cryptocurrency lending service Celsius Network, will offer deposits in Bitcoin, Ethereum and XRP for long-term asset holders.
Rates for BTC and ETH – up to 6.2% per annum, for XRP – up to 4.91%. Holders of cryptocurrencies such as Bitcoin, Ethereum and Ripple are being offered higher interest rates than those for fiat currencies, which certainly makes Bitfinex a competitor for banks. Despite this, many traditional investors trust banks more as less risky structures.
***
An anonymous trader, who predicted with great accuracy the fall of bitcoin by more than 40% last year, has revived again and this time he has a new positive forecast.
Now he says that bitcoin is in a long-term movement on the way to $540,000. The growth of the price of BTC to $ 500 thousand in the long term is expected not only by this anonymous person, but also by Tyler Winklevoss, one of the first bitcoin billionaires and co-founder of the Gemini cryptocurrency exchange, he recently publicly announced, also he often likes to talk about this topic in his Twitter posts.
***
Donald Trump made a statement that he was sick with coronavirus.
After that, the S&P500 futures reacted with a decline. It is noteworthy that bitcoin resumed its decline after the stock index. Gold, meanwhile, is showing growth.
***
The Central Bank of Europe has filed an application for registration of the Digital Euro trademark.
This decision was made on September 22, 2020. At the moment, the ECB is preparing a report on the release of CBDC. Once completed, the report will clearly present the advantages and disadvantages of establishing a CBDC. The Digital Euro is predicted to make transactions faster and also minimize the use of cash
