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Bitcoin Price Rises to $9,500 as $2 Trillion Fed Stimulus Expected

Cryptocurrency has become the life of the party at the stock-markets and block-chain forums with its moody swings of price volatility. The investors have to keep on their tip-toes, ready to sprint in either direction where the wind blows the price higher. In a recent instance of good news, the value of bitcoin rises to a new high of nine thousand and five hundred dollars which has brought jubilations all around. The increase comes either because of the tightening of its range or perhaps because of a renewed vigour and optimism shown by the investors.

The coveted stimulus package

As the users pray for the price to either hold steady or keep climbing, other good news follows as the American government promises a helping-hand of 3 trillion dollars along with the European Union giving another 857 billion dollars as well. This will greatly jolt the market and investors may cry happy tears for being rewarded for their perseverance for a currency that goes up and down like a nervous shareholder’s heartbeat. This big help will surely ensure a greater climb than just the present one, and all users are crossing their fingers and holding their breath to encounter this surge.

Crypto meets Savings

In another highly-praised view, the government has begun to allow national and other banks to open their vault doors for the virtual currencies along with paper money, and gold ingots. Permissions have been rolled out to let clients manage their crypto-currency side-by-side their savings, checking and credit. This will help users manoeuvre beyond the clumsy red-tape that had forced them previously to keep their crypto-wallet separate from their bank wallet. It feels like there is not a day far away when crypto-currencies will find a home in your actual pant-pockets, and you will reminisce about the days when the fragrance of a freshly-minted dollar note.

With the bank printing more money, the stock market has gotten a much-needed boost even though the economy is still seeing dark days with the pandemic continuing on its tracks. Nevertheless, it has been uttered by financial sages that the stocks seldom reflect the economy. Many other commodities are also performing well on the market, showcasing the optimistic rise in the conviction of the investors. Silver and Gold both are experiencing a steady climb, so why not bitcoin. So get investing at this opportune moment and reap the benefits.

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Record Revenue for Blockchain Gaming Company During Pandemic

Blockchain technology has revolutionized the way how online transactions took place over the internet, and now it is paving the path for revenue in gaming companies. While many users recognize blockchains as mainly the guiding force behind crypto-currency, it has now also become an indispensable tool in various e-platforms, one of them being online gaming. And hereby gaming, we mean professional online players who are dedicated and willing to invest for in-game purchases such as characters, skins, vintage game set-ups, and other things. This is where blockchain comes into play as it acts as an effective, transparent ledger to keep track of the gaming transactions.

These are a few ways certain blockchain gaming companies are using to gather considerable revenue during the pandemic.

Betting and Gambling

A popular method of gathering revenue by gaming companies has been through online betting and gambling plays. Players are provided with crypto-currency wallets where they can use the non-fungible tokens to bet on e-tournaments, gamble, buy tokens, win daily jackpots and even gain entrance through participation fees in global e-tournaments. The added security and the ease of non-fungible tokens that converts a player’s rare weapons or character skins as tradeable items become a vital benefit of blockchain in gaming

Collectible video games

Aside from betting and gambling, the reason behind record revenue by blockchain gaming companies during the pandemic has also been the online gaming market where veteran players can sell and buy vintage collectible games. In this regard, crypto-currency becomes a valuable asset with its blockchain technology due to which gamers can rely on their e-wallets and the safety of a transparent peer-to-peer network to carry out such purchases to increase their collections.

Physical Gaming merchandise

Aside from in-game purchases and gambling opportunities, revenue also flows through the sale of gaming merchandise and other physical products that entice gamers. Here, blockchain helps in such exchanges where players can use their e-currencies to buy apparels, shoes, fan-gear, gift-cards, gaming keyboards, consoles, high-powered routers and other important paraphernalia for the best gaming experience. Thus the surging revenue by blockchain gaming companies during the pandemic can be said to be caused because of such physical player purchases as well.

E-gaming team management

As online gaming has become a global phenomenon with considerable resources fed in to support teams and entertain an audience, the players and watchers alike have to look for secure transactions regarding team formation, sponsorships, training, improving play as well as managing contracts. This is where blockchain technology comes into play. Gaming companies that depend on blockchain development for such transactions and record-keeping are highly favored by gamers for keeping track of their important exchanges. Block-chain gaming has now become the norm when it comes to global tournaments that require massive data-keeping to keep track of thousands of players and their investments.

High Security and transparency

Probably one of the main reasons why blockchain is so highly sought-after is its high level of security and transparent record-keeping. Gamers live in a virtual world susceptible to online threats such as hacking and viruses. Thus the tangible and unbreachable security provided by the blockchain technology is the best way to play in peace while the ingenuity of technology takes care of your safety needs. Crypto-currency is the best option for such needs, which leads to most gamers nowadays prefer altcoins like ether and bitcoins to conduct most of their in-game purchases.

Online gaming is slowly becoming as popular as physical sports in the entertainment industry, especially during the current pandemic. One of the reasons for its popularity can be correctly attributed to blockchain technology.

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Luno highlights rise in use cases for crypto in Africa

Advanced technology is something that is accepted worldwide in a short duration. Though full-fledged use of the same may take some time, it penetrates in different markets soon. Something similar is happening today with the spread of cryptocurrencies and its related technologies. Though some countries have already started using them, and some more are still in the phase of preparing a platform, African countries also have shown a sign of a better move in this direction. 

According to a report published by Luno, there is great potential for cryptocurrency in the African region. It highlighted many factors that can trigger the crypto rally in this region. Other than that, hurdles for this growth were also discussed in the reports. Let us take a look at how crypto is positioned in this part of the world. The demand for this type of digital wallet is growing across the globe, and Africa seems to be no exception. It is interesting to see some positive developments in this regard in recent years.

Most promising region for cryptocurrency

For the world economy, African countries have special significance as they are known for their development and boosting the economy with vast development in almost every segment. When you observe the region of Africa, the striking feature is its cultural diversity and how they are different from their neighboring countries. However, when it comes to socioeconomic issues, there are too many similarities between most African countries. As the continent struggles to sustain in this fast-paced world, crypto can become a game-changer as it is practically suited for such regions. While other countries may look at crypto as an investment objective, it can bring in a lot of stability in regions like Africa. In this regard, Africa can be considered as the most promising region for cryptocurrency.

Crypto ownership trends

Take a look at the ownership trends of cryptocurrencies in different nations, and you will be able to understand the potential in the near future. According to Google Trends data, countries like South Africa, Kenya, Ghana, Nigeria, and Uganda list in the top 10 nations that own cryptocurrencies. You will be surprised to know that 13% of the South African populace owns cryptocurrency, and this is a big indicator of the gaining popularity of the cryptocurrency in this region.

Political instability in the African region

The biggest hurdle for this growth is the political instability in this region that has been haunting this continent for many decades. There have been civil conflicts in recent years, and most of the countries suffer from high inflation and other economic problems. The GDP has collapsed in most countries, and there is no sign of revival shortly. There is also a risk of wealth confiscation due to high levels of political instability. In these circumstances, crypto has various threats as well as opportunities in this region.

Future of crypto in Africa

The future looks bright for Africa if things are planned in the proper manner. To begin with, the economic situation going bad can also boost the demand for stable and reliable currencies like crypto in this region. Once the issues with cryptocurrencies are fixed, and most developed countries start owning cryptocurrencies, this region will show more interest in such options. Apart from that, the political stability factor plays a major role as this will help the country make more investments in different assets. There are few African nations that can lead the rally in this crypto world, and this will set the trend for the rest of the continent in the coming years.

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B21 to launch investment application in India

B21 is a mobile app that is aimed at first-time investors of cryptocurrency. The mobile application was launched recently. The company has now expanded its service to India. Many investors and economists are watching the new launch closely to evaluate its impacts on the Indian market.

From the records, the move to launch the app in India is believed to be a remarkable one. The introduction is expected to take the company’s profit to greater heights concerning the Indian conditions.

With the growing crypto investor population in the Indian market, the timely introduction of the investment app can reach more numbers. However, there is an element of uncertainty persisting, of which you can read in detail in the following excerpts.  

Why are the investment app services expanded to India?

There is a question on why India and not some other country. The reason is detailed below.

The country, India has been witnessing a surge in trading volumes and consumer interests. The sudden rise was accounted for the Supreme court’s order that permits banking services for cryptocurrency exchanges. This was against the central bank’s plea to ban such facilities.

The impact on the Indian economy and consumers has been remarkable. This prompted the company to expand the services of this mobile app to India. Thus, the move can be justified.

Features of the mobile investment application

Using different payment methods like Debit cards, bank transfers, and the Unified payments interface, the users of the investment app can fund their investments in terms of Indian rupees. This feature attracts many users to the app.

Another remarkable specialty of the app is that it allows investments in the form of cryptocurrencies. The cryptocurrencies can be ether, Bitcoin, and EOS. The conditions shall be subjected to a minimum of $25, which accounts for a 2000 INR sum. The services are presently available in sixty-five nations, of which one is the United States.

The app provider underlines that Prime Trust protects the B21 crypto assets. Hopefully, this secures the assets and instills confidence and trust in the investor.

Indian Scenario

The mobile app was launched at the beginning of this year. The newbie crypto investors are the main target population of the app. It was launched in response to a Supreme Court order that permits digital asset firms banking against the central bank’s pleas to ban it.

Consequently, such restrictions that rested on the aspect were released, and a significant proportion of the Indian population was researching crypto-currency investing.

Though this marked the demand for the local cryptocurrency industry, the situation is still unsure. There have been rumors regarding the ban on cryptocurrency by the Indian government. The news regarding this had been out in the mid of June.

Binance is one of the top crypto exchanges that has joined the Indian tech industry association recently. The company fought against the bans imposed by RBI in the Supreme Court, and the arguments are ongoing, thereby making the situation uncertain.

Conclusion

However, it is believed that B21 can make goodwill in the Indian market and win the hearts of the crypto investors in the region. But the app has to wait to unwind the consequences that follow in the Indian market finally. This is due to the uncertainty persisting in the Indian conditions. As the discussions and debates are still ongoing, a firm conclusion cannot be made at once.

However, the chances are that the crypto investors in the Indian market will not be disappointed.

If the app can satisfy the Indian investors in terms of its user interface, features, and security aspects, it probably has a promising future in the Indian market.

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Bitcoin Dominance Growing — What It Could Mean for Altcoins

After getting a lot of attention in the year 2017, the price of Bitcoin started to drop in 2018. Where Bitcoin has started to recover from the 2018 market price decline, altcoin continues to decline. The price of Bitcoin significantly increased in the year 2019. It was under $4000 at the beginning of the year and its value increased around $14000 in the middle of the year.

Altcoins, on the other hand, was strong during the rise of the year 2019. And some people were even calling it an “altseason”. Bitcoin continues to grow from the year 2019 till now but altcoin is slipping its rank of the number 1 cryptocurrency.

People have a different point of views on it. It has created a situation of debate among them as to whether the Bitcoin will continue to grow or not. They are curious whether or not altcoin will come to the first place ever again.

Even if there are least chances of returning the alt season, it is assured that cryptocurrencies are being used widely. The current bull cycle affects the adaptation of the cryptocurrencies.

How Bitcoin Is Performing In Comparison To Altcoin?

When the cryptocurrency created a lot of buzz throughout the world in 2017, Bitcoin rose to the highest mark of $20,000. The altcoin was also high at that time. But things change the subsequent year. Some of the cryptocurrencies even vanished from the industry.

The main reason for a sudden price increase was the hype around cryptocurrency. When the initial coin offering (ICO) became a trend, the cryptocurrency became popular again. The ICO tokens were also used in the altcoin market.

The Bitcoin’s increase was prominent in the year 2017 but the Ethereum was not rising at all. Since the peak of altseason, the price of altcoin has reduced by 80%. The Bitcoin has been dominating the altcoins since then.

Bitcoin Dominance: Will It Continue Throughout In The Future Too?

The price of Bitcoin is increasing to date. People are investing in Bitcoin System but they are also finding other alternatives to invest in the cryptocurrencies. As a result, altseason can rise again. During that time the Bitcoin no longer dominates the market.

When the Bitcoin becomes less popular, the cryptocurrency can fall into the situation of a bull run. The Bitcoin shares can be still recovered from the altcoins. If the market crashes in such a situation, it doesn’t affect the Bitcoins as much as it does the altcoins.

Usually, Bitcoin dominance stays around 60-80%. According to some graphs and market trends, if Bitcoin dominance index falls below 60%, it can be assumed that the altcoin season is going to begin.

It also indicates that the altcoins will be popular for a shorter duration. If the Bitcoin dominance rises from above 40% during the altcoin season, it is a signal that the Bitcoin is ready to replace the altcoins.

This year the altcoins have again faced a bull-run. This rise is also being connected to the number of new coins entering the market. The total number of altcoins is 5000. It is expected to reduce Bitcoin dominance. Thus, the altcoin market can bloom anytime during this year.

The Ethereum 2.0 is all set to be launched in July 2020. This crypto sector is the second largest in the cryptocurrencies. This upgrade can affect the transaction speeds more than anything.

It is expected that in the middle of 2020, the Bitcoin will again outperform the altcoins. One major reason for this bubble is “halvening”. It occurs when the reward to Bitcoin miners is halved after every four years. This also reduces the number of new Bitcoins to sell on the crypto market.

However, although the new bitcoin mining will reduce the other coins will continue to circulate in the market. Facebook, for instance, is going to launch its cryptocurrency. And there are other multinationals too following the steps of Facebook. These major companies can have their own set of effects on the market.

It is entirely difficult to comprehend whether or not Bitcoin will take over the market again. Since many factors are in the support of altcoins. It is too soon to decide anything right now. Bitcoin will have its effects on the market but altcoins are also standing strong.

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