During the last 6 months or so, DOGE has gone up by 25 times. It just doesn't make any sense. DOGE is overhyped these days, but in terms of adoption and acceptability, it is far behind when compared to similar altcoins such as LTC and BCH. If anyone creates a list of online stores where DOGE is accepted and compares it with similar lists with LTC and BCH, this will be clear. DOGE has gone up purely due to hype and not due to any fundamentals. And in 99% of the cases, such growth is not sustainable in the long term.
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I have always claimed that BNB is an underpriced coin. But after looking the current valuation ($72 billion), I don't think that it is the case now. Compared to the annual revenues and potential yearly growth, Binance is either fairly priced or slightly overpriced at these levels. And one big risk factor will be there in the coming days. If the Coinbase listing gets flopped, then we can expect a big negative impact upon the BNB prices as well. That said, the long term trends for BNB are exceptionally positive.
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I hope Tesla will not be the only automobile manufacturer to accept Bitcoin as a mode of payment in 2021. The problem is that the other automobile corporations (Toyota, Volkswagen, Daimler, Ford, Honda.etc) are headed by individuals in their 60s and 70s and naturally these people are against new innovations such as Bitcoin. The advantage with Telsa is that it is being run by people who are more receptive towards new technology.
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Some people like guaranteed money. They like taking risks little and want to see their money physically. That's why bitcoin is scary for them. But over time, they will get used to and famous millionaires will turn to bitcoin.
That is not a valid argument. A majority of the investors have no issues in pouring their funds in to equities and real estate, despite the high volatility involved in these sectors. And I don't think that Bitcoin is more volatile when compared to these (altcoins may be). I think the real issue lies with the unclear legal status and tax implications. Also for ordinary people, going through the KYC process required by various cryptocurrency exchanges can be a huge hassle.
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It is not surprising. Whenever there is an influx of new users, the market share of Bitcoin drops. And the most important thing that I have noticed is that this drop in Bitcoin market share started after the first stimulus checks were sent in the United States. According to various experts, anywhere from 5% to 10% of the stimulus checks were used for purchasing cryptocurrency (mostly by new investors). And in many cases these new investors went for altcoins instead of Bitcoins, and that explains the declining market dominance of BTC.
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Easy to say that it will be over any day but I don't think that it will be difficult, remember that they are still improving the vaccines to the peak levels, the next problem that every government should tackle after the vaccines is the logistics and storage of the vaccines. In my experience considering I am a homebody, I enjoy this lockdown in my country but the academic responsibility is getting annoying.
The vaccine supply has hit roadblocks in most of the countries. Here in India, two vaccines have been approved by the government but both are facing supply issues. First one is the vaccine from AstraZeneca, which is being manufactured by Serum Institute of India (SII). The production has been scaled down due to the shortage of raw materials. The second approved vaccine is CoVaxin from Bharat Biotech. This is a relatively inexperienced company, and they are also facing issues in ramping up the production. And the Indian government has so far refused to approve Sputnik V and Pfizer vaccines. The first one is not being approved (although the application was made two months ago), due to pressure form the US government. Pfizer vaccine is not being approved due to some bureaucratic hurdle.
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Those who think that the taxes are going to be paid by the rich, when in reality the middle and working classes bear the brunt of the tax burden. Yelen must be desperate. She knows that tax hikes often result in lower revenues, which is why she is making this move. Basically, what they want to do is to continue squandering money and not have any consequences, but they cannot. The rich never pay their tax, because most of their income is in the form of assets that are stored in off-shore tax havens and capital gains. And capital assets are taxed only if they are sold. There is no tax applicable on unrealized capital gains. All these tax increases will have the maximum impact on the middle class, especially those living in high-tax states such as California and New York. The same with corporate tax as well. If they increase the corporate tax, then the companies will move out to Mexico and other low-tax countries and American products will be unable to compete against Chinese products. Also, middle-class and poor Americans will lose their jobs, as the factories close down.
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What is the attitude of the government of India to crypto now?
Wait for 3-4 weeks. State elections are going on in India, and some of the states with large number of cryptocurrency users are taking part in this process. So for now the regime has put a hold on their plans to ban the ownership of cryptocurrency. And the best news is that the current session of the parliament will end today. The next session is scheduled for August 2021. So before that I don't expect any major movement on this issue. And right now there seems to be disagreement between the bureaucrats (who are in favor of the ban) and some members of the governing party (who oppose such move).
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eth does have the potential to catch up with btc, but if they are still relaxed with the problem of high transaction costs, it will hinder their growth
Although it is still possible for ETH to catch up with BTC, you need to know that pursuing BTC is not an easy thing for ETH to do even though ETH tokens are currently leading other Altcoins by ranking in cryptocurrency. Ethereum had it's chance in 2017. At one point, there was just a 2% difference in market share which separated these two coins (35% for Bitcoin and 33% for Ethereum). But then Bitcoin surged ahead due to security issues and high transaction fee of Ethereum. I don't think that such a scenario will repeat again. Now it is the turn of technologically more advanced coins (such as Cardano, Polkadot and Chainlink) to offer competition for Bitcoin.
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"Avalanche" of big companies purchasing BTC? At least I was not expecting any such "avalanche". Bitcoin is still a non-traditional investment asset and 99% of the corporates doesn't have enough courage to invest in this asset. Tesla is an outlier, since they themselves are not a "traditional" corporation. The problem is that in many of these big firms, the key people who makes the important decisions are mostly in their 60s and 70s, who have a natural aversion to new innovations such as cryptocurrency.
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I am agree with your word BNB is undervalue at this price because at this moments the world best crypto exchange binance are behind this project and they do everything possible to make bnb more valuable in the coming year
Binance reminds of Amazon during the early 1990s. Binance, being the largest cryptocurrency exchange will grow tremendously during the next few years. I won't be surprised if it achieves a market cap of more than $1 trillion in the next 5 to 10 years. But risks are associated with cryptocurrency sector, and therefore no guarantee is there. It can end up like Amazon, or it can end up similar to the Yahoo! stock.
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Well the season now was quite an economic friendly to altcoins and we can't deny that altcoins are doing good in their market movements as of the moment especially Ethereum and Binance. But aside from this we have now also some good altcoins in the market like polka, litecoin, filecoin, and so on. So we have so many kind of altcoin that we can choose from to become an asset, so its up to us on how do we can figure out which one is best.
There are too many altcoins in circulation right now and that is the problem with the alt market. At least some of the funds that otherwise would have gone to promising alts such as Cardano and Polkadot are getting diverted to little known shitcoins. Anyway, for the last few years, a consolidation pattern can be found in the altcoin market. But still people are losing their hard earned money to little known coins, due to the propaganda in YouTube and social media.
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The problem with the Russian ruble will continue to worsen. The world, and first of all Europe, has taken a course towards a gradual transition to renewable energy sources, and therefore the consumption of gas and oil will fall. In addition, Russia is now pursuing an extremely aggressive foreign policy, relying on strength and its military might. And this can only give a temporary effect, which ends in a dead end. Until Russia returns the seized territories of Ukraine, and Putin is not yet going to do this, the sanctions will only intensify and there may be a complete international ban on the purchase of Russian gas and oil. We are now seeing further depreciation of the ruble after Biden called Putin a murderer. This situation will only get worse.
If you think that sanctions will force Putin to cede the territories under Russian control, then you are mistaken. He can't do that, because if he concedes these demands then the strongman image that he has built over so many decades will be lost and his political career will be finished. And I am 100% sure that his successor will be even more aggressive when compared to Putin. Already names such as Ramzan Kadyrov and Seregey Shoigu are being talked about as potential successors to Putin.
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So we can confidentially say that Ukrainians own 3% to 6% of the circulating supply of BTC. This is a massive number and may be higher than the same from other countries such as India and Taiwan.
You should take into account that Ukrainian politicians and ordinary people do not share the same standard when it comes to business opportunities and, more importantly, the amount of monthly income. The average salary in developed parts of the country is about $450, but that amount is much lower in less developed parts of the country. Usually in such countries, ordinary people do not have the opportunity to invest anything in risky assets such as Bitcoin, but it would be really nice if some of them managed to buy and save BTC over the years. Therefore, I sincerely doubt that Ukrainians have approximately close to 3% of all mined BTC, let alone more than that. I agree to an extent with your post. But what about the possibility that most of the ordinary people acquired Bitcoin, when it was trading at very low prices, especially before 2016? The former USSR region was one of the places where the earliest Bitcoin adoption occurred. BTC-e exchange was based in Kiev during the initial years, before moving their office to Bulgaria. If 652 Ukrainians can have 0.3% of all the Bitcoin in circulation, then I would say that it is quite possible that the remaining 40-42 million may posses at least 3% to 4%.
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All those market caps and market "value" you are writing about are overinflated due to the Federal Reserve money printing.I don't believe that Google,Facebook and Amazon are worth several trillion dollars. The financial markets are in a total "madness mode".No wonder that the crypto market cap reached 2 trillion dollars.2 years ago,if somebody told me,that the crypto market cap will exceed 1 trillion USD in 2021,I would think that he is crazy.We live in crazy times. Back in 2018 January, the cryptocurrency market capitalization had peaked at around $800 billion. So the current valuation is not that much surprising. It is natural to have 150% rise in valuation during the last two and half years, especially for a new innovation such as cryptocurrency. But it is very difficult to predict the direction of cryptocurrency from here. A lot of people think that it is overpriced now, and they recommend partial profit booking.
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I think South Africa is finished. Heinrich Klaasen just got out and that leaves them at 140/5. Kyle Verreynne is still batting, but the required run rate has shot past 8 runs per over and the remaining players are lower order or tail end. Mohammad Nawaz came back very strongly by taking 3 extremely important wickets. This is going to be such a huge achievement for Pakistan. They have managed to win an away ODI series, and that too against one of the stronger teams.
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This is impressive news that we seen XRP pumping that much, And I did not expexct XRP are going to followed to bitcoin and etherium to raise the price. And its a good decision that I make on the past month to buy some XRP because I was fan of this coins since I saw in such a low of transaction fee and have a good value. Actually if I have some kinds of coins in any exchange site I was convert it to XRP.
There is a big difference between a pump and a bear trap. You will understand soon, as XRP is already going down. And I haven't seen any proof so far, to confirm that the XRP rally is due to any reason other than the generalized altcoin spike. Altcoins as a whole have gone up during the past few weeks and XRP got the benefit of that. On the other hand, there is hardly any positive news with respect to XRP from the market, since this year started.
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BNB is in all time high price today. 414 USD is new ATH. I'm sure we can see higher prices this year but today we might see a down move after TKO sale. We'll see how it goes.
Even now, the BNB market cap is less than $60 billion, which is around one-third less than the rumored market cap of Coinbase (we will get the full picture only by next week, when Coinbase get listed on NASDAQ). If the listing is a success and Coinbase manages to move up, then we can expect a similar trajectory for BNB as well. BTW, does anyone know whether Binance is having any plans to get itself listed in NASDAQ?
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If these figures are true, then Ukrainians may be one of the largest holders of cryptocurrency in the world. Imagine this. If the few hundreds of officials are holding such a massive amount (0.3% of the circulating supply), then the remainder of the population should be holding at least 10x or 20x of that number. So we can confidentially say that Ukrainians own 3% to 6% of the circulating supply of BTC. This is a massive number and may be higher than the same from other countries such as India and Taiwan.
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Bitcoin hasn't outperformed the best tech stocks, so the speculation has been driving up all speculative investments at the same rate. There's no real "increase" in demand for bitcoin relative to other types of speculative investments. I'll be interested to see what happens in the next large scale market pullback, because my prediction is bitcoin will crash in about the same proportion as speculative tech stocks.
There seems to be an oversupply of funds and probably that is the reason why many of these assets are getting overpriced. But unlike the case with equities and real estate, I would say that cryptocurrency is still underpriced at these levels. Bitcoin is having 100 million to 200 million active users, and ideally it should translate to a much higher market cap compared to the current $1.1 trillion figure.
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