Market Update: Could be the end of the bubble? Ethereum co-founder interview – Check it Now!

Hello Subscribers,

We are experiencing a big shaky market, suddenly a lot of money coming in on Crypto, and suddenly a lot going out.

We spotted a good entry of 8%, and later a big drop, correcting 7%. Now Bitcoin just broke a resistance of U$ 6,500, but still the water is very shaky, and dangerous to go in, and we do not advise you to go in if you don’t have a very good strategy.

We prefer to protect our customers, specially because we do not know the knowledge of each one, then tell to go in a very high risk trade.

From now, we could see a sudden fast drop, or it could keep going up from here with 50% chances, so risk is very high, so far.

Either you stay out to wait and see which way market will choose, or protect yourself very good with very good stop loss, if you decide to go long and try to see if our last higher target could get hit. ( U$ 6,900)

Everything is very difficult to predict now, but we sense it is getting to a point that the bubble is over, and it should not be long to have a turning point and a market reversal to Bullish momentum.

Altcoins are showing stronger signals, and could be showing a reversal, but still it is uncertain when is the best time to go in.

We will not post a very risk chart, telling you to go Long or Short, because that is not the idea, we rather work when we see  a Low Risk and high probability.

Ethereum co-founder Joseph Lubin, just gave an interview on Bloomberg, link below, that probably was the fuel for todays market, saying that what is happening on crypto market is very normal, and that there are very good perspectives from now on, because he can see a lot of big companies coming in to crypto.

Click to See the Interview : Click here

Example from that is that:

The patent, published by the U.S Patent and Trademark Office (USPTO) on Tuesday, details how a system of virtual accounts could enable two users to transfer funds using mobile phones. The company first filed the patent in 2014, shortly after it launched its QuickBooks Bitcoin Paymentsservice, a bitcoin transaction processor which small businesses could use to accept bitcoin in lieu of fiat currencies.

Source link :Click here

2)

The World Bank (International Bank for Reconstruction and Development, IBRD rated Aaa/AAA) has mandated the Commonwealth Bank of Australia (CBA) as the sole arranger of the first bond globally to be created, allocated, transferred and managed through its life cycle using distributed ledger technology.

Indicative investor interest in bond-i (blockchain operated new debt instrument) has been strong. The World Bank and CBA expect to launch the transaction following a period of consultation with a broader set of investors.

Blockchain has the potential to streamline processes among numerous debt capital market intermediaries and agents. This can help simplify raising capital and trading securities; improve operational efficiencies; and enhance regulatory oversight.

The World Bank issues between US$50-US$60 billion annually in bonds for sustainable development

  • CBA and World Bank are using a private Ethereum blockchain for this project. Ethereum currently has the largest and most active development community globally, and offers the functionality we require. However other blockchains are developing rapidly and CBA remains open to other options in the future.

Source link :  Click Here

Source link:  Click Here

Ehtereum Co -Founder said:   “We’ve seen six big bubbles, each more epic than the previous one, and each bubble is astonishing when they’re happening but when you look back they look like pimples on a chart,” Lubin said during an interview on Bloomberg Television. “With each of these bubbles we have a tremendous surge of activity and that’s what we’re seeing right now.”

Lubin, who is the chief executive officer at ConsenSys Inc., said developer activity rose by “two orders of magnitude” since prices jumped last year. He added that “trader types” are driving volatility and isn’t concerned that the slump in prices will slow down the development of core infrastructure and adoption.

Ethereum co-founder Joseph Lubin said this past year’s surge in the value of digital currencies was a bubble and the burgeoning ecosystem is stronger because of it even as prices tumble.

“We’ve seen six big bubbles, each more epic than the previous one, and each bubble is astonishing when they’re happening but when you look back they look like pimples on a chart,” Lubin said during an interview on Bloomberg Television. “With each of these bubbles we have a tremendous surge of activity and that’s what we’re seeing right now.

Lubin, who is the chief executive officer at ConsenSys Inc., said developer activity rose by “two orders of magnitude” since prices jumped last year. He added that “trader types” are driving volatility and isn’t concerned that the slump in prices will slow down the development of core infrastructure and adoption.

After leaving Ethereum, a blockchain-based platform for smart contracts and applications, Lubin founded ConsenSys, which helps startups build on top of the Ethereum network.

Lubin said ConsenSys has 1,100 employees who build infrastructure for the Ethereum ecosystem, and focus on products, consulting for enterprises, governments and central banks, and capital market activity. He said it cost under $100 million to run ConsenSys last year and the figure will be higher this year.

Ether skyrocketed over $1,000 in February in part as startups built projects on top of the Ethereum blockchain and sold digital tokens in exchange for Ether in crowd sales known as initial coin offerings. Now, some of those projects are cashing out, contributing to Ether’s slump. The token has tumbled by as much as 27 percent this week, the biggest two-day drop since February. The price slumped to as low as $251, the lowest since November.

Lubin foresees a future where Ethereum will be significant among hundreds of other protocols, which will co-exist.

Source:

https://www.bloomberg.com/news/articles/2018-08-14/ethereum-co-founder-lubin-says-speculators-driving-price-swings