13 celebrities who back cryptocurrency and may own millions in bitcoin

There’s no shortage of public figures who have advocated crypto as the currency of the future. From artists like Pitbull and Snoop Dogg to actors …

Up until relatively recently, cryptocurrency hadn’t captured the interest of the general public; it was reserved almost exclusively for the engineers, developers, and entrepreneurs who had been involved in its conception around a decade ago.

However, the bitcoin bubble in 2017 caused cryptocurrencies to soar in value, and led to millions purchasing cryptoshares and even setting up their own mining farms.

Despite the considerable drop in the value of bitcoin over the past year, experts are predicting a new cryptocurrency boom in the near future, possibly from 2020.

Read more: If your phone is running slowly or always losing battery, it might have been hacked to mine cryptocurrency – here’s how to protect yourself

With a considerable number of public figures already investing their fortunes in cryptocurrency, more seem to be jumping on board with cryptocurrency for business ventures and more.

Here are 13 celebrities who have publicly backed various cryptocurrencies.

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Crypto Markets Surge as Bitcoin Jumps Above $3700

The crypto markets are in the process of wrapping up a volatile week on a positive note, as virtually all major altcoins have surged today after Bitcoin …

The crypto markets are in the process of wrapping up a volatile week on a positive note, as virtually all major altcoins have surged today after Bitcoin jumped nearly 3% into the mid-$3,700 price region.

Although Bitcoin is currently leading the markets, if it is able to stabilize at, or above, its current price levels, it could mean that the crypto markets will see further gains as the week goes on.

Bitcoin Jumps Nearly 3%, Leading Crypto Market Surge

At the time of writing, Bitcoin is trading up just under 3% at its current price of $3,750. Last weekend, Bitcoin fell to lows of $3,550, which led to a sharp upwards move this past Monday to highs of just over $3,700.

Although Bitcoin surged to over $3,700, bulls were not able to gain enough upwards momentum to propel the cryptocurrency towards $4,000, and its price gradually drifted down as the week progressed.

Prior to this morning’s price surge, one popular cryptocurrency analyst on Twitter, called Cred, noted that he will be adding to his Bitcoin buy positions between $3,700 and $3,840 on the condition that it was able to break above $3,700, which had previously turned into a level of relative resistance.

“$BTC… Very compressed price action following the high set on Monday. My plan is straightforward: Price below & finding resistance at $3,560s I’ll look for sells targeting $3,430s. Breakout & price accepted above $3,700s I’ll be a buyer until $3,840s,” he explained.

If Cred’s assessment of Bitcoin’s current price trend is correct, another upwards move could be right around the corner.

Most Altcoins Surge 3% or More

Over the past week, most altcoins have been gradually drifting lower, which is partially due to the bout of sideways trading Bitcoin had experienced since its volatile trading session earlier this week.

Today’s price surge has allowed virtually all major altcoins to recover at least some of their recent losses, and most cryptocurrencies are currently trading up 3% or more.

At the time of writing, XRP is trading up 2.7% at its current price of $0.3325. Last Sunday, XRP fell to lows of $0.317 before quickly climbing to $0.337 on Monday. From here, XRP gradually drifted to lows of $0.322 before rising to its current price levels.

Ethereum is trading up over 3% at its current price of $124.63. Ethereum has seen a relatively volatile week, partially due to drama surrounding its highly anticipated Constantinople hard fork, which was delayed after a security flaw in one of the improvement proposals was discovered.

Litecoin is one of today’s best performing altcoins and is trading up 5.1% at its current price of $32.72.

Featured image from Shutterstock.

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The Impact of SEC Regulation and the Crypto Bear Market on Ethereum

Way back in June 2017, it was beginning to look inevitable that the flippening would occur and Ethereum would take over the top spot of …
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Way back in June 2017, it was beginning to look inevitable that the flippening would occur and Ethereum would take over the top spot of cryptocurrency market caps. With smart contract capabilities and an order of magnitude more potential applications than Bitcoin, everybody was keen to jump on the Ethereum bandwagon.

Of course, a lot has changed since then.

The speculation-fueled bull run that culminated at all-time highs in late 2017 for Bitcoin and January 2018 for altcoins was unsustainable. Talk of a global paradigm shift appears laughably premature in hindsight.

Today, prices have collapsed across the entire market, with Ethereum itself breaking below $100 last December after all-time highs of $1.4k just 11 months prior. Although a mini-recovery has ensued in early 2019, the situation continues to look bleak and the reputation of cryptocurrencies for the general public is still far from stellar.

Prominent blockchain expert Peter Du, the founder of Du Capital, recently explained the crux of the problem, saying:

“Cryptocurrencies, which were once the new darling and dream of investors have now taken a backseat, given the current crypto blizzard. To be sure, maintaining hundreds of billions of dollars in valuations supported by unsecured coin issuance was unrealistic and in the long-term, unsustainable. Ethereum as an infrastructure blockchain that other coins hinged on, was a temporary beneficiary and grew in valuation as a result, but without having the equivalent growth in infrastructure, ecosystem and mass adoptable applications.“

To make matters worse for the short-term, the US Securities and Exchange Commission (SEC) has begun cracking down on unregistered ICOs (initial coin offerings). It appears likely that hundreds and perhaps even thousands of projects will be required to return money to investors. And that has contributed in part to the massive sell-off of ETH during this bear market, as the vast majority of ICOs were on Ethereum and are now dumping what’s left of their reserves in favor of fiat currency.

As Du went on to explain, though, perhaps the SEC regulation and the bear market experience will serve as a valuable lesson for unsophisticated investors and builders in the blockchain industry alike.

Now that the United States Securities & Exchange Commission has issued stricter regulation on ICOs, the once skyrocketing valuations have come back down to Earth. Ethereum’s inability to scale comes at great cost, not just to its own project, but to token holders and other tokens that rely on it. We see this with other infrastructure coins too, such as EOS. In the medium-term, they risk marginalization, as new public and sector-specific blockchains up their ante. Not all is gloom and, if anything, we must learn from this. At the end of the day, discerning investors should care less about short-term speculation and more about solidifying building blocks in the long-term to make blockchain a formidable and reliable ecosystem.

It’s not surprising that there have been some growing pains in these early years, as big changes never happen smoothly. What we’re ultimately contending with when it comes to the big picture for cryptocurrencies is a potential redefinition of money and, as a result, the greatest transfer of wealth humanity has ever seen.

That possibility is what attracted many overzealous speculators to the hype-fueled market of 2017, but it can also be what attracts many more innovators and builders to contribute meaningfully to the ecosystem going forward. And indeed, 2018 did show some significant growth in measures other than price, such as the development of new decentralized applications.

Ethereum is already being used as a base-layer supporting all sorts of promising and potentially world-changing applications, from decentralized prediction markets like Augur to security token platforms like Polymath and Swarm.

The CEO of the Ethereum-based project SingularityNET, Dr. Ben Goertzel, recently appeared on one of the largest podcasts in the world, the Joe Rogan Experience, and discussed the intersection of artificial intelligence and blockchain, explaining how Ethereum and SingularityNET enable A.I.s to send data, processing tasks, and transactions between one another autonomously.

All of that is just scratching the surface of what the Ethereum ecosystem can ultimately encompass in the years ahead. At the moment, however, it feels like just a distant dream.

The bear market and SEC crackdowns have ushered in a bitterly cold crypto winter and put an end to thousands of projects. Whether or not this winter is followed by a beautiful spring, only time will tell.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Cryptocurrency market update: Bitcoin and Ethereum calm lingers snubbing positive news

A look at the market on Friday shows that cryptocurrencies will close the week in the red. The trading this week has been uneventful as digital assets …
  • Bitcoin price falls in deep slumber unable to escape range resistance.
  • Ethereum defends the support at $120: Upside still laced with tough hurdles.

A look at the market on Friday shows that cryptocurrencies will close the week in the red. The trading this week has been uneventful as digital assets showed a high level of stability. The same cannot be said for last week’s trading which faced a waterfall drop on Thursday where Bitcoin tanked below $3,500. The market opened the week at $124 billion but it is likely to close it at the current $122 billion. Bitcoin dominance is still more than half the market share, precisely at 52.4%.

Bitcoin price technical picture

Following the sharp drop last week, Bitcoin price has fallen in deep slumber. It seems the bulls have taken a nap leaving just enough momentum to prevent the price from sliding below the range support at $3,550. The attempts made to push the price above the range resistance at $3,700 have been thwarted by selling pressure. Besides, the price is trading below both the 50-day and the 100-day Simple Moving Average (SMA). The 50-SMA is limiting the gains slightly above the current BTC value ($3,627). The gap between the Moving Averages is widening to show that bear pressure will continue in the coming sessions ahead of the weekend.

BTC/USD 4-hour chart

Ethereum price technical picture

Ethereum, on the other hand, is also stuck in a range with the upside capped at $130. ETH is valued at $112.92 at press time and it is likely that it will continue trading in the same range for a few days. However, a break past the range resistance will open the road for a correction towards $140 (key resistance). On the flip side, support is established at $120 and $115 respectively.

ETH/USD 4-hour chart

Read more:

Bitcoin and all major coins ignore positive fundamentals


Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

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Cryptocurrency Trading Focuses On Stablecoins And Security Tokens

Altcoin Today report stated that according to the interview with Luzius Meisser who said that the ICO (initial coin offering) sector requires important and …

Cryptocurrency trading is looking forward to focussing on stable coins and security tokens. The volatile character of cryptocurrency has led investors to look into reliable and secured coins similar to the properties of stable coins. Whereas the security tokens can be used more over the ICO market.

In the Crypto Finance Conference in St. Moritz, Switzerland held on Jan. 16, Luzius Meisser, member of Bitcoin Association Switzerland board said that he believes that the next target of improvement in cryptocurrencies is specifically on stable coins and the security tokens. Economist and computer scientist by profession Messier co-founded the Bitcoin Association Switzerland in 2013. Basically, she indicated the requirement of the changes in the security tokens.

Influence of blockchain into cryptocurrency has decentralized worldwide with the digital networks and technology. Blockchain triggered popularity with Bitcoin in cryptocurrency trading when the reached value of each bitcoin was at $20,000 in the year 2017. Recently, in the last two months, bitcoin is facing the worst period of downfall and the investors are facing the loss of $800 billion last January to around $130 billion at the end of November 2018.

Altcoin Today report stated that according to the interview with Luzius Meisser who said that the ICO (initial coin offering) sector requires important and relevant changes to include few more rights to the investors apart from investing in cryptocurrencies related to protection or security of their investments.

Smart contracts with the tracking of the entire balance including the investment, KYC information are compulsory for Stablecoins. CryptoSlate report states that KYC holders can only invest, this develops trust and confidence to the buyers and sellers in cryptocurrency trading. Though few investors believe that adding KYC holders or a government badge breaks down the intention of decentralizing digital money.

STASIS chief executive officer Gregory Klumov agrees with a perspective of advanced technology’s future worldwide:

“It became obvious for all market participants and liquidity providers that stable coins are must-have assets in cryptocurrencies marketplace… so initiatives coming from Singapore, Switzerland and actual legislation on Malta are very much on time to legitimize stable coins in other nations.”

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Summary
Cryptocurrency Trading Focuses On Stablecoin Security Tokens
Article Name
Cryptocurrency Trading Focuses On Stablecoin Security Tokens
Description
Cryptocurrency trading focuses on stablecoins and security tokens. Cryptocurrency Volatility led investors to look into secured coins.
Author
Kakoli Roy
Publisher Name
OWLT Market
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