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This is Expected to get Ethereum Over $1000 at the End of 2019

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This is Expected to get Ethereum Over $1000 at the End of 2019

Due to some issues, Constantinople has been postponed several times. Regardless of many delays, Constantinople has now become a realization and finally completed. On February 28, the upgrade was completed at block 7,280,000, and in the end, proceeded with the fork.

Ethereum which is a top smart contract platform and the second largest cryptocurrency by market cap has in a few days been going deep into the bear’s territory. The cryptocurrency has a market cap of over $14 billion is now trading at $138. Though Ethereum has been on a rough road come from last year, there is one thing that has a huge effect the price of the cryptocurrency, which is previous and recent hard forks and if we see more of that, then it is expected to take the value of Ethereum higher progressively. According to some cryptocurrency expects and analysts, Ethereum’s Constantinople hard fork may shortly bring a massive increase in value Ethereum.

Constantinople presents the main feature which is the reduction of block rewards. Miners of the cryptocurrency usually got 3 ETH per block as a reward but will currently get a payout of only 2 ETH for each block mined. Even though this is something of penance for miners, this game-plan is generally conventional and has picked up significant support from devs last August. Ethereum’s lessening block rewards are intentionally expected to stop miners, and to decrease the number of new ETH that is produced by the miners. Eventually, this will lower inflation and have the value of existing ETH very high. Lesser mining motivations will likewise aid Casper to get ready, which will be presented in Ethereum 2.0.

Constantinople have few other features built into the upgrade that can favorably affect Ethereum’s price, with one being the lessening of gas costs for particular transactions, which will allow a lot more transactions on the platform. I think to base at previous forks, Constantinople can affect the activities of the cryptocurrency’s market in the weeks ahead, though so far, no significant change is seen in Ethereum’s market value. In any case, the fact that after the previous fork come off, it took Ethereum’s price over 30 days to go above resistance, then, if history reoccurs, a post-Constantinople upgrade effect will be many weeks uptrend for the Ethereum price.

Cryptocurrency

Peter Schiff Warns Of A Possible Crash Of Bitcoin Below $2,000

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Peter Schiff Warns Of A Possible Crash Of Bitcoin Below $2,000

Peter Schiff, a stockbroker, and financial commentator took to Twitter recently to voice his opinion on the direction of BTC. Though he said the crypto asset is on his way to $6K, however, warns that things can go worse, driving price below to $2K.

A Possible Crash Below $2,000 For Bitcoin (BTC)

Peter Schiff, is known for his love for gold while exhibiting intense hate for bitcoin. However, he has kept an eye on bitcoin, updating the community about its impending crashes to prove his point that bitcoin is worthless.

Though he admitted possessing some bitcoin, his recent tweet still shows he doesn’t see the asset as a wise choice for smart investors.

Peter Schiff, in his recent tweet, expressed how horrible things were looking for bitcoin. According to Mr Schiff, bitcoin is in a move to complete a popular pattern, the head-and-shoulder, which will see the asset drop in value to about $6,000. Furthermore, he opines that bitcoin could slump drastically below the $2,000 mark if the pattern is completed.

While many do not agree with Peter Schiff, some others think bitcoin crashing below $2,000 would be an opportunity to buy more bitcoin.

All these, however, is happening at a time when the institutional traders are trying to pick some interest in bitcoin as trading on the futures exchange, Bakkt, continues to rise.

At the time of writing, bitcoin is currently trading at $8,062.72, with a market cap of over $145 billion according to CoinMarketCap.

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Ripple Sends $26 Million Worth of XRP to Jed McCaleb, XRP Army Fears Another Dump in Price

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Ripple Sends $26 Million Worth of XRP to Jed McCaleb, XRP Army Fears Another Dump in Price

Time and again, several members of the XRP community have opined that the massive dump of the crypto asset in the market has impacted on its price, negatively. Now, there are speculations for another dip in XRP’s price. The latter is after Whale Alert informed on September 7, 2019, that 100 million XRP tokens have been transferred to Jed McCaleb, Ripple’s co-founder. 

Ripple Sends XRP Worth About $26 Million to McCaleb’s Wallet

According to Whale Alert, Ripple transferred 100 million XRP valued at $26,322,440 to Jed McCaleb’s wallet. The transfer has led to the sentiment in the crypto space that XRP might tank below its $0.262 price today. Also, the opinion is due to McCaleb’s reputation for dumping huge amounts of XRP in the market.

McCaleb is Ripple’s co-founder, and in 2014, Ripple transferred 9 billion XRP to him as his share for founding the company in 2012. However, the blockchain company entered a seven-year agreement with McCaleb to control how much XRP he can sell in the market yearly.

Per the agreement, the co-founder could sell $10,000 worth of XRP per week in the first year, $20,000 per week in the second, third, and fourth years, and “750 million XRP per year for the fifth and sixth years.” In the same vein, he could choose to dump 1 billion XRP yearly for the seventh year, and 2 billion XRP yearly after the seventh year.

McCaleb’s Dump of XRP Impacts of Asset’s Market Price

Given that this is the fifth year since the agreement was made, McCaleb can choose to dump thousands of XRP tokens daily. In 2014 when he announced his plans to sell a significant part of his XRP holdings, the value of the asset declined by 40%. As such, the continuous dump of the asset has also been pointed out as one of the reasons why it is not spiking like other top cryptocurrencies.

Asides from being reputable in the XRP community, McCaleb is also a name associated with Mt Gox, one of the first cryptocurrency exchanges. He founded the platform and sold it off years before its hack. Similarly, McCaleb is the creator of Stellar (XLM), the 11th largest cryptocurrency by market cap.

Nonetheless, the crypto community has aired its views about the potential for McCaleb to release another share of XRP to the market. Crypto BitLord, for instance, said: “Wow. Another cool $26M Jed can unload at market. This shits out of control.” Another remarked that: “know, right?! Private businesses shouldn’t be allowed to exist. The name “Jed” should be banned.”

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