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Looking Forward to the Next Three Years of BitPinas

Welcome to our new website, with increased coverage of blockchain, fintech, and cryptocurrency news. Here’s to the next three years of BitPinas.

The post Looking Forward to the Next Three Years of BitPinas appeared first on BitPinas.

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Please share and grow the BitPinas community.

You might have noticed an updated look and feel for the BitPinas website today. It has been a long road to here but there are exciting times ahead for BitPinas and the Philippines’ FinTech and cryptocurrency communities.

Last week marked the third birthday of BitPinas and I was thankful to the many colleagues who reached out with kind words about BitPinas and all that we’ve achieved. Quite a few people did think I was resigning, but that is not the case at all. I was feeling nostalgic and reflective. Today, I am incredibly proud to unveil the first step towards that future with a bright, shiny update to our trusty BitPinas website.

Three years ago BitPinas launched as a platform to post about Bitcoin so that we could educate and protect the emerging cryptocurrency community from scams here in the Philippines. Today, BitPinas has relaunched with a new design and an expanded mandate to inform, educate and inspire the next generation. In the coming months you will see more and more new content, new features and maybe even some giveaways.

BitPinas will continue to cover all the latest info coming out of the Philippines cryptocurrency scene but will be increasing our coverage for tech, FinTech and regulation. We want the whole ecosystem to grow in a safe and sustainable manner which includes business and regulation. 

We are looking to increase the number of staff writers we have, the regions we cover and we want to increase the number of expert contributors that have to supplement the likes of Atty Raf, Atty. Jay-r, Luis, Gail and Randy from DynaQuest. There is a bright and vibrant community out there hungry for knowledge and we intend to step up to that challenge.

We have been blessed by having colleagues who have also stepped up to meet that challenge head on by demonstrating their commitment to growing the ecosystem by supporting BitPinas to redevelop the platform and invest into future content and education. We would not have been able to achieve these recent upgrades without the support of Paxful, Coins.ph and Microsoft.

I look forward to continuing to bring you all the latest news and happenings for the next three years and then some. This site is a reflection of our community, so please share your feedback, share your ideas and most importantly share the knowledge contained in our articles. 

Michael

This article is published on BitPinas: Looking Forward to the Next Three Years of BitPinas

Please share and grow the BitPinas community.

Source: https://bitpinas.com/feature/next-three-years-2020/

Blockchain

Ethereum Could Plunge Below $500 Despite Ongoing Rebound, Claims Analyst

Ethereum has been facing some turbulent price action throughout the past few days and weeks, with the selling pressure seen in the lower-$600 region forcing it lower on multiple occasions This has come about due to its close connections to Bitcoin and its price action, with the benchmark crypto’s inability to break $19,800 hampering the growth seen by ETH as well Despite the strong rebounds seen following every dip, sellers are still trying to fade […]

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  • Ethereum has been facing some turbulent price action throughout the past few days and weeks, with the selling pressure seen in the lower-$600 region forcing it lower on multiple occasions
  • This has come about due to its close connections to Bitcoin and its price action, with the benchmark crypto’s inability to break $19,800 hampering the growth seen by ETH as well
  • Despite the strong rebounds seen following every dip, sellers are still trying to fade the recent rally
  • One trader believes that they will soon gain the upper-hand over bulls, noting that there’s a strong possibility that it breaks below $500 in the week ahead

Ethereum has seen some wild volatility throughout the past few days and weeks, with Bitcoin’s selling pressure dragging it lower as well.

However, its rebound following each influx of selling pressure has been incredibly positive and seems to indicate that further upside might be imminent in the near-term.

Whether or not it can climb and hold above $600 should provide some serious insights into where it will trend as the end of the year fast approaches.

One trader believes that some downside is imminent. He expects a sub-$500 dip in the week ahead, noting that it reclaiming its weekly range high is simply a liquidity raid before it sees further downside.

Ethereum Struggles to Gain Momentum as $600 Resistance Holds 

At the time of writing, Ethereum is trading up just under 5% at its current price of $595. This is around the price at which it has been trading throughout the past few days.

Overnight, the crypto plunged as low as $570 before it found some serious support that helped send it flying higher.

However, the resistance around $600 is still intense and may slow its ascent in the near-term.

Analyst: ETH Likely to Plunge Below $500 After Sweeping Liquidity 

One trader explained in a recent tweet that the test of $600 could mark a liquidity sweep that is followed by some serious downside in the mid-term.

“Decided to punt a short here on $ETH as a crypto HEDGE because I am overexposed in #DeFi longs. Reclaimed the weekly range high after a liquidity raid. Currently testing previous support as resistance.”

Ethereum

Image Courtesy of Livercoin. Source: ETHUSD on TradingView.

Bitcoin’s near-term trend will undoubtedly influence Ethereum, which makes it imperative that the cryptocurrency sees further near-term upside.

Featured image from Unsplash.
Charts from TradingView.

Source: https://bitcoinist.com/ethereum-could-plunge-below-500-despite-ongoing-rebound-claims-analyst/?utm_source=rss&utm_medium=rss&utm_campaign=ethereum-could-plunge-below-500-despite-ongoing-rebound-claims-analyst

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New crypto regulations coming soon – OOC

Acting comptroller of OOC, Brian Brooks, says that the agency would release new crypto regulations  The new regulations are set to provide more clarity on the workings of the industry  Brian Brooks, the acting Comptroller of the Currency in the United States has confirmed that his regulatory agency is working on new crypto regulations. He […]

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  • Acting comptroller of OOC, Brian Brooks, says that the agency would release new crypto regulations 
  • The new regulations are set to provide more clarity on the workings of the industry 

Brian Brooks, the acting Comptroller of the Currency in the United States has confirmed that his regulatory agency is working on new crypto regulations. He made this known in an interview on CNBC’s Squawkbox.

According to him, this set of new regulations should be expected before the end of this current administration. He advises the general public to be on the lookout for these new policies which would look to provide more clarity for the sector.

Brooks also said that these regulations would help investors to feel more secure in the market. He cited that the regulatory body needs to provide some clarity on whether banks could connect to blockchains as payment networks.

 He also mentioned the effect the agency regulation had on banks being able to custody cryptocurrencies. 

The acting Comptroller went on to emphasize that the agency would not look to stifle the development of crypto agencies in the industry. Instead, the regulatory body would only seek to drive institutional interest by providing some clarity to how the industry operates.

He identified that institutions were already adopting cryptocurrencies with the available clarity in the crypto regulations. He, however, expects more institutions to embrace the industry when these new regulations are out.

US Treasury could roll out new batches of crypto regulations – Coinbase CEO

Brian Armstrong, the CEO of Coinbase, tweeted that the US Treasury could be all out to roll out new crypto regulations that would affect the growth of self-custodied crypto wallets.

According to the Coinbase CEO, the regulations would drastically affect how the crypto market could grow.

You would note that financial authorities in the United States have been trying to regulate the crypto industry. 

Popular Crypto company, Ripple, had hitherto threatened to move its headquarters outside of the United States due to the lack of clarity in the country’s crypto regulations.

Source: https://www.cryptopolitan.com/new-crypto-regulations-coming-soon-ooc/

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Steve Forbes Thinks Bitcoin Is Yet To Qualify As A Store Of Value, Roots For Gold

Bitcoin Is Digital Gold And The Upcoming Halving Will Make It More Potent As A Store Of Value – Coinbase

Bitcoin is not viable as a store of value. That’s according to Steve Forbes, Editor-in-Chief of the Forbes Magazine. Apparently, Steve is all for Gold as a long-term store of value. However, he agrees that Bitcoin’s major success stems from the actions of central banks by printing a lot of money and causing inflation. Steve […]

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Bitcoin Is Digital Gold And The Upcoming Halving Will Make It More Potent As A Store Of Value – Coinbase

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Bitcoin is not viable as a store of value.

That’s according to Steve Forbes, Editor-in-Chief of the Forbes Magazine. Apparently, Steve is all for Gold as a long-term store of value. However, he agrees that Bitcoin’s major success stems from the actions of central banks by printing a lot of money and causing inflation. Steve Forbes was sharing his thoughts via his YouTube channel named “What’s Ahead.”

Steve Forbes is the son of Malcolm Forbes who was the publisher of the Forbes magazine, founded by his father B. C. Forbes. As such, Steve grew up in a well-off family and now runs the magazine. Steve Forbes is not an economist, so his beliefs are just personal opinions not backed by any professional analysis.

Too Volatile

In Steve’s opinion, Bitcoin’s volatility makes it not suitable for long-term wealth holding. In that sense, Steve thinks the top coin is not the right choice of an asset to maintain family wealth.

Indeed, Bitcoin’s price has seen quite a few ups and downs over the years, but a look at the larger projections reveal that the crypto has always been increasing in value.

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Bitcoin’s current value is way higher than it was 5 years ago. In fact, Bitcoin’s rise in value has made some people billionaires. A case in point is the Winklevoss twins.

BTC’s Supply Limit Hinders Its Future Growth

Steve went on to argue that one of the huge obstacles preventing Bitcoin from becoming a good store of value is its supply limit.

BTC’s supply limit is capped at just 21 million coins. On the other hand, Gold’s global supply increases at a rate of 2% every year.

However, Steve didn’t mention that, just like Bitcoin, Gold’s supply in the world isn’t really as infinite as usually claimed. At one point, its supply will diminish as well.

Steve Forbes wasn’t entirely dismissive of Bitcoin as a store of value. He agrees that the crypto could iron out its quandaries and come out on top at some point in the future, “but that day is not yet here.” Bitcoin could very well evolve into the new Gold.


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/steve-forbes-thinks-bitcoin-is-yet-to-qualify-as-a-store-of-value-roots-for-gold/

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