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Bitcoin and Ethereum Trading Volumes More than Doubled in a Week Says Report
#1
The crises in Iran could be the boost to the explosion in trading volume. Not only for Bitcoin but also Ethereum and Litecoin has seen higher volumes.

The article only focus on Bitcoin

"A report published on Jan. 9 by cryptocurrency market research firm Arcane Research, Bitcoin (BTC) trading volumes more than doubled in a week.
Per the report, the 7-day average daily trading volume has seen a 126% increase in a week at the start of 2020, with almost $1.5 billion traded just on Jan. 8. The report reads:

Quote:
“The market recovered sharply from the disappointing $192 million that were traded on Jan. 1.”

Crypto market “certainly getting more bullish”
The researchers also note that the Crypto Fear & Greed Index shown on alternative software website Alternative.me has been steadily climbing since mid-December and on Jan. 6 it touched neutral levels for the first time since October. 
The report also points out that Bitcoin’s volatility is increasing alongside its price and is currently climbing the 3% level. The document reads:

Quote:
“Although falling back to fear in the last couple of days, the market is certainly getting more bullish.”


The index’s website explains that when it reaches extreme fear it means that investors are too worried which presents a buying opportunity, while when the tool shows extreme greed the market is probably due for a correction. The indicator derives its reading from volatility, market momentum and volume, social media, surveys, Bitcoin crypto market dominance and Google trends." 


[Image: 3319522d3b7427a912ea044850256599.png]

Is Bitcoin becoming a safe haven?


Interestingly, the researchers also suggest that the tensions between Iran and the United States brought Bitcoin’s correlation with gold to levels not seen since August 2016. While the authors of the report admit that “it is way too early to draw any firm conclusion,” they also point out that major events in the new conflict caused a positive reaction by both gold’s and Bitcoin’s price. The paper reads:

Quote:
“The ‘safe haven’ narrative for Bitcoin is starting to become true. However, this short-term price action could also just be spurious correlation and a long-term evaluation must be taken into consideration.”

As Cointelegraph explained in a recent analysis, many believe that Bitcoin is proving useful to the Iranian population as the conflict continues.

Rise in Activity

Lastly, the report also notes that the activity on Bitcoin’s blockchain also showed a renaissance, with the number of transactions climbing 5% in a week as the transaction value grew by one-fourth over the same period of time. Also miner fees increased by over 40% and the number of active addresses increased by about 7.63%.

Bitcoin’s outlook is becoming increasingly bullish as recent reports become ever more positive for the cryptocurrency. Bitcoin can deliver 100% returns to investors in 2020 and may rise significantly in the five months until May’s block reward halving, according to a recent report.


Interest in the asset is seemingly rising and as Cointelegraph recently reported, the United States’ largest bank believes interest will be high in CME Group’s new Bitcoin options.

https://cointelegraph.com/news/bitcoin-t...ays-report
Cardano is the most promising 3 gen. crypto right now.


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#2
So we could profit from war! I do not want to profit this way but I can see the logic of the argument. Any economy under trouble, whether through conflict or mismanagement, may well see the upside of crypto.

I think the final line of delivering 100% returns to investors is poor. Of course it could and it could do it very quickly indeed but it could also bomb, or stick or just fluctuate wildly.
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#3
(2020-01-14, 11:48 AM)BobBobert Wrote: So we could profit from war!  I do not want to profit this way but I can see the logic of the argument. Any economy under trouble, whether through conflict or mismanagement, may well see the upside of crypto.

I think the final line of delivering 100% returns to investors is poor.  Of course it could and it could do it very quickly indeed but it could also bomb, or stick or just fluctuate wildly.

Bob war is not the point here but the point is that crypto could be a way to protect your assets against "fear" in the current financial system. Anyway there will be no war.

From what I know about Iran and Iraq it's both nasty places guarded by Islam. Islam is not democratic. So I have to conclude that that Iran and Iraq could be "terminated" for all I care. I know it's putting things on the edge, but you get my point. In Denmark muslims are now using our democracy to get elected into parliament only with the agenda to throw democracy away. It's a development of concern.
Cardano is the most promising 3 gen. crypto right now.


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#4
True that was is not the point. The more people that try crypto the better, whatever their reason for taking that first step. I do hope it is not war but that they are farsighted. I cannot see there being a middle east war now that involves USA although a year or so ago I was sure it would happen. Does that mean all those countries also se Trump as someone how may just press the button and they are rightly scared of what he might do?

In Iran, I think maybe the people are fine and it is their leaders that are the problem. There was mention of some demonstrations against the leadership after shooting down that plane. It is a country where public protest against the leadership must be dangerous so well done to all those who have protested.
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#5
Yes from what I know I wouldn't like to live in any country in the middle east except for maybe Israel.
Cardano is the most promising 3 gen. crypto right now.


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