Prominent Twitter Trader Reveals Huge 2019 Gains From Cryptoassets

Prominent Twitter Trader Reveals Huge 2019 Gains From Cryptoassets

A prominent Twitter influencer in the investing/financial space, Charlie Bilello, tweeted out the performance of cryptocurrencies which have made the biggest increases this year, as well as the performance of many traditional asset classes.

                             

As we reach the midpoint of 2019, it’s looking increasingly likely

that we are once again in the midst of another bullish phase throughout the wider cryptocurrency market, with the price of Bitcoin and several other major crypto assets rising astronomically during the past few months. Many investors have seen this as a welcome break from the prolonged bear market which started at the beginning of 2018 and saw the majority of major cryptocurrencies lose over 90% of their value since their all-time highs, bringing the total crypto market cap down with it.

While it’s easy to get carried away in the cryptocurrency markets as a blockchain enthusiast, many traders, investors, and long term holders seldom stop to think about how their cryptocurrency gains would compare to those realized from traditional asset classes. On the other hand, crypto investments are still eyed with caution, or outright shunned, by some traditional investment professionals, with legendary American investor Warren Buffet calling Bitcoin a ‘Delusion’ earlier this year in an interview with CNBC. However, it seems that many traders who don’t want to risk exposure to cryptocurrency assets may be missing out on serious potential gains, as one prominent investor pointed out this week.

Crypto Vs. Classic Investments

Prominent trader, writer and Twitter personality, Charlie Bilello, who boasts over 110,000 Twitter followers, posted a series of tweets on Tuesday comparing both the returns traders would have gained from traditional assets such as commodities and the S&P 500, with Bitcoin (BTC), and a whole host of other cryptocurrencies since the beginning of 2019. Interestingly, those who had invested in gold or bonds would have seen a return of just +5% since the beginning of 2019, -3% lower than even the worst performing major cryptocurrency, Stellar Lumens (XLM), which has yielded +8% since the beginning of the year.

Investing in stock market indices such as the S&P 500 and the Nasdaq 100 would have yielded fairly decent gains of +18% and +21% respectively, and real estate investment trusts, or REITs, would have yielded on average a strong gain of +22%. On the other hand, investing in Oil, which has seen some volatility this year would have seen a gain of +16%. Comparatively, Ripple (XRP), the third-highest cryptocurrency by market-cap at the time of writing, would have yielded investors +16% since the beginning of the year, whereas the second-highest crypto by market-cap, Ethereum (ETH), yielded a huge +87%, and Monero (XMR) would have netted it’s investors a similarly impressive +98%.

However, eight of the major cap cryptos, which Bilello also tweeted about, would have yielded their investor’s triple-figure percentage gains since the start of 2019. The biggest gainers may come as a surprise, however, as it’s not Bitcoin which has led the 2019 rally but instead leading exchange coin Binance coin (BNB). Investing in Binance coin at the start of this year would have yielded investors a massive +479%, multiplying their initial investment many times over. Likewise, Litecoin, often referred to as digital silver, has far outperformed real precious metals, yielding over +320% for its investors.

Other high gainers for investors who bought and held from the start of 2019 include third-generation cryptocurrency Cardano, which yielded +110%, dApp focused blockchain EOS which gained +150%, and even Bitcoin SV, Craig Wright’s new blockchain offering which was launched after a hard-fork from the Bitcoin Cash protocol in November 2018, would have yielded over +140% so far this year. Overall, there’s been some seriously strong price gains so far during 2019, which have somewhat balanced out bear market losses and there’s potential to hold this upward momentum during the rest of 2019.

Comparable Gainers

Such gains are almost unheard of in the day-to-day trading of traditional assets or investments, with the only similar gains coming from initial public offerings (IPOs), or more recently, cannabis stocks – which have seen gains of hundreds of percent. For example, Cannabis branding company TransCanna Holdings, gained a huge 586% since the beginning of 2019.

Likewise, the Beyond Meat (BYND) IPO, the plant-based burger company which launched earlier this year, has gained over 600% since it began publicly trading, becoming one of the best stock market performers in recent years, and outperforming even the highest gainers of the top market cap cryptocurrencies. Conversely, while many of the top 20 market cap cryptocurrencies have risen in some capacity so far during 2019, ride-hailing apps Uber and Lyft, which launched their IPOs earlier this year, are trading around their listing price, performing poorly compared to some of the cryptocurrencies we’ve examined.

Conclusion

Many traders, especially those who are risk averse, may still be slow to enter the crypto markets in 2019. However, from a long term hold perspective, percentage gains realized from crypto portfolios this year would have far exceeded many traditional asset classes and have heavily outperformed supposedly ‘hot’ new IPOs such as Uber and Lyft. However, there’s plenty of stocks out there which have huge potential upside, Beyond Meat for example and particularly cannabis stocks, and it’s still worth cryptocurrency investors diversifying their risk and exploring other traditional asset classes as part of their portfolios.

Article Produced By
Elliot Hill

Elliot Hill

Elliot is a blockchain, fintech and cryptocurrency copywriter from the UK. He's been writing for the DLT space for two years, in which time he's reported on many topics and a wide range of projects. Elliot has a number of blockchain investments and is particularly interested in blockchain for individual monetary sovereignty.

https://blokt.com/news/prominent-twitter-trader-reveals-huge-2019-gains-from-cryptoassets

Bitfinex Allows 100X Leverage Potentially Boosts Bitcoin BTC Speculation

Bitfinex Allows 100X Leverage, Potentially Boosts Bitcoin (BTC) Speculation

Until recently, Bitfinex only allowed low-grade leverage, but has moved to mimic the high-risk strategy of Bitmex.

                                 

Bitfinex may add another level of risk to the Bitcoin market,

by dramatically increasing leverage. This allows traders to take risky positions and make bets on the move of Bitcoin (BTC) through loaned funds. But high-leverage margin trading is also extremely risky, potentially leading to extreme losses. The risky addition, still in limited mode, was announced by Paolo Ardoino, CTO of Bitfinex. In effect, increasing the possibility for lending and margin trading will also increase the influence of Tether (USDT), which is one of the assets loaned on the exchange. Margin trading at low rates has been available for multiple markets, including Binance and Poloniex. Bitmex offers high-leverage margin trading, and is considered one of the riskiest markets for position liquidation. Margin trading, in the end, benefits the exchange if risky traders get liquidated.

Bitfinex announced the margin trading at a time when skepticism about the exchange is on the increase. The market operator, sharing connections with Tether, Inc., has added the Unus Sed Leo (LEO) token to its mix, adding another layer of speculation. Bitfinex has been accused of adding assets out of thin air, and using its earnings and liquidations to gain BTC and potentially, fiat. Currently, Bitfinex holds only around 14 million USDT, but also hosts nearly a billion LEO tokens. The added liquidity through leverage is seen as a danger for distorting

BTC prices.

So now USDT is 26% backed by bfx shares that's backed by x100 margin trading with LEO trading rebates. Satoshi must be proud.

The announcement arrives at a time when BTC climbed once again above the $11,200 range, setting yearly highs. The price spike is happening after months of adding USDT to the market, increasing volumes for the leading coin and leading to suspicions for concerted market manipulation. The risk of margin trading for digital assets is also higher, since crypto assets have been known for large fluctuations. Bot trading, buyers rushing in or order manipulation lead to much larger price swings and much easier liquidation for leveraged positions.

Article Produced By
Christine Masters

Business writer with a knack for bubbles and market madness. Has tracked it all: the financial crisis of 2008 and the implosion of Lehman Brothers; bank bailouts and peak gold and silver, penny stocks…and now Christine has moved to cryptocurrencies for fresh stories.

https://cryptovest.com/news/bitfinex-allows-100x-leverage-potentially-boosts-bitcoin-btc-speculation/

CV Market Watch: Weekly Crypto Trading Overview June 14-21 2019

CV Market Watch™: Weekly Crypto Trading Overview (June 14-21, 2019)

Bitcoin broke above the $9,000 range and set to reconquer $10,000, as altcoins lagged behind.

                            

Bitcoin (BTC) continued its recovery, avoiding a sell-off this week.

The asset quickly broke above the $9,000 level, and later went on above the $9,700 mark, sparking hopes for a bigger rally. Bitcoin (BTC) traded at $9,786.72 on Friday, once again revving up as the weekend approached. BTC is up more than 17% in the past week, still proving that upward volatility is possible. The share of Tether (USDT) trading receded to around 63% BTC activity. Currently, the supply of USDT is on the increase, to more than 3.57 billion coins. BTC trading volumes were moderately lower, to around $17 billion in 24 hours. In the past week, BTC appreciation took its market capitalization dominance to above 58%, as altcoins lagged or sank lower.

Ethereum (ETH) was one of the big movers this week, following the announcement of Ethereum 2.0 getting a set date for its launch. ETH traded at $289.34, up 8% in a single day, and adding more than 12% to its price in the past week. ETH has received increasing USDT liquidity, and valuations of $300 are within a small distance.

XRP (XRP) hovered around $0.44, up 10% this week, following an announcement that Ripple bought a share in MoneyGram. Still, the asset is relatively stagnant, unable to break above the $0.50 range.

Litecoin (LTC) spent most of last week in consolidation mode at around $135, and took off on Friday, along with BTC, to $138.09. The coin is up just 5% net this week, but promises a more significant rally as the halving of the block reward approaches.

Bitcoin Cash (BCH) inched up to $426.28, boosted by BTC trading.

EOS (EOS) broke out to $7.04, mostly on the BTC move, adding nearly 10% in the past week. The asset remains strong despite Weiss Ratings lowering its grade to B-.

Binance Coin (BNB) continued with new records, reaching $37.72 on Friday. As the exchange increases its influence and volumes, BNB remains a central asset for multiple activities.

Bitcoin SV (BSV) rose to $223.59, up 7.3% this week, as the asset gradually establishes its presence and valuations easily above $200.

Stellar (XLM) hardly moved from its $0.12 tier, as the asset shares the fate of XRP and remains stagnant.

Cardano (ADA) remained at $0.089, despite the news of a testnet launch. The asset fails to attract high-level hype.

TRON (TRX) continued to hover around $0.033, despite the announcement of the update to Odyssey 3.6 version.

Monero (XMR) surprisingly exploded to $108.76, up more than 21% in the past week. The sudden spike in prices was seen as a response to the long-term stagnation and accumulation of coins. Unus Sed Leo (LEO) is the surprising new arrival among top coins. The token, newly minted and native to the Bitfinex exchange, completed its price discovery and was finally listed on CoinMarketCap, promising to become a fixture among leading assets. LEO traded at $1.85, after peaking this week at $2.00.

DASH (DASH) spiked to $164.84, up 7.85 this week, following the trend in anonymous coins.

Cosmos (ATOM) regained the $6.57 level on the back of BTC, gaining a tame 6.7% this week.

IOTA (MIOTA) stagnated at $0.43, as the news of the consensus protocol are failing to spark more active upward bidding.

NEO (NEO) inched up to $13.87, again up 6.7% this week, inching up from its lows.

Ethereum Classic (ETC) rose to $8.71 after the announcement of the Atlantis hard fork receiving a set date in September.

Tezos (XTZ) stagnated at $1.21, as the project left the spotlight and altcoins are generally the worse performers.

NEM (XEM) remained almost without change at $0.086, as Asian markets are also extremely focused on Bitcoin.

The markets gained a dose of optimism this week, possibly sending BTC above $10,000 in the coming days. Instead of an altcoin season, BTC staged an independent rally, leaving altcoins behind. Anonymous and privacy coins are having a field day, moving up from their long-term stagnancy. Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.

Article Produced By
Christine Masters

Business writer with a knack for bubbles and market madness. Has tracked it all: the financial crisis of 2008 and the implosion of Lehman Brothers; bank bailouts and peak gold and silver, penny stocks…and now Christine has moved to cryptocurrencies for fresh stories.

https://cryptovest.com/news/cv-market-watch-weekly-crypto-trading-overview-june-14-21-2019/

Craig Wright Fails To Disclose Bitcoin Holdings After Court Order Might Face Sanctions Soon

Craig Wright Fails To Disclose Bitcoin Holdings After Court Order, Might Face Sanctions Soon

Craig Wright has failed to disclose his Bitcoin holdings as on 12th December 2013,

after a court in Florida ordered him to do so in May this year. This could make Wright liable to strict action by the court if the show causes notice demanding the reason for failure to disclose his BTC funds is not answered sufficiently. The information was posted by Lawyer Vel Freedman of the law firm Boies Schiller Flexner.

If Wright fails to satisfy the court, he is expected to face serious charges for contempt. The holdings were to be disclosed in a suit filed by the estate of David Kleiman, Wright’s deceased partner in the W&K Info Defence Research LLC. David’s daughter and estate representative, Ira Kleiman has accused Wright of stealing several hundreds of thousands of Bitcoins held by David and/or by W&K Info Defence. The court had asked Wright to be present in person in the court, rejecting his application to allow presence by video conferencing or via mediation. On June 17, Wright submitted a few documents which were restricted by the judge on the behest of Wright’s request.

Failing to show his Bitcoin holdings also makes for evidence proof that Wright is not Nakamoto, no matter how much hard he tries the world to convince. The only thing which he will achieve is an embarrassment. In the case in question, he is accused of theft of Bitcoins which did by faking the signature of the deceased and solely acting on behalf of the company, without any approval from the deceased’s estate. After his failure to submit the holdings, the plaintiff has requested the court to direct Wright to reveal the identity of the current and past trustees and beneficiaries of W&K Info Defence Research. The order which came out in

May stated,

On or before May 15, 2019, at 5:00 p.m. Eastern time, Dr. Wright shall produce all transactional records of the blind trust, including but not limited to any records reflecting the transfer of bitcoin into the blind trust in or about 2011. The production shall be accompanied by a sworn declaration of authenticity.

Wright has clearly failed to comply and is having a hard time to maintain the claim of being Nakamoto, and the legal fence is closing on him.

Article Produced By
Roxanne Williams

Roxanne has recently joined as a market reporter for CryptoNewsZ – the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

https://www.cryptonewsz.com/craig-wright-fails-to-disclose-bitcoin-holdings-after-court-order-might-face-sanctions-soon/27703/

Bitcoin Moonshot: 5 Reasons Why BTC Price is Going to 10000

Bitcoin Moonshot: 5 Reasons Why BTC Price is Going to $10,000

                               

After more than 440 days of a worsening bear market, BTC seems to be in better shape this year, aiming for $10K.

Bitcoin (BTC) is getting closer to the $10,000 range, possibly just a few days away. After the extended bear market that roughly continued from January 2018 to March 2019, BTC faced a series of challenges but seems to be in much better shape now. The trading remains risky and unregulated, but prices have moved away from their stagnation. BTC seems set to test the $10,000 range for these chief reasons:

Tether (USDT) Record Supply:

USDT-based trading remains instrumental for ensuring BTC sees enough liquidity. In the past weeks, new printings increased the Omni layer supply of USDT to above 3.54 billion, with another 900 million on the Ethereum (ETH) network. This additional liquidity allows exchanges to boost trading, and for traders to react quickly.

Self-Fulfilling Prophecy:

With BTC a few hundred dollars to the $10,000 tier, the bidding may lead in that direction. Even if a retreat from that range happens, touching $10,000 would be quite encouraging to the market. BTC has been capable of adding hundreds of dollars within an hour, and the proximity of the $10,000 range may be encouraging. Adding bot-trading activity to the mix may move the prices even faster.

Peak Mining:

Bitcoin’s network marks record hashing power, and mining remains as competitive and important as ever. With miners voting confidence for the asset, prices may receive a boost from the news of a record hashrate. Interest in mining and network usage at rather robust levels mean BTC gains legitimacy, also due to the higher network security.

Altcoin Season Delayed:

Currently, the bigger gains may be found with BTC growth, while altcoins remain fickle and offer only sporadic gains, highly unpredictable. Only a handful of altcoins are receiving investments from BTC, while smaller coins and tokens trade on niche markets powered by stablecoins.

Exchanges Limiting US Traders:

With less US-based trading for altcoins and tokens, speculation is redirected to the leading coin. At the same time, Asian markets are reawakening, also boosting the volumes for BTC speculation. US-based trading also reveals growing institutional interest, and the indication that regulators are willing to allow some form of BTC investment provided limits to volatility and higher transparency. With Bakkt futures coming up in July for testing, BTC continues with a baseline of optimism.

Article Produced By
Christine Masters

https://cryptovest.com/news/bitcoin-moonshot-5-reasons-why-btc-price-is-going-to-10000/

Bitcoin Price Analysis: BTC Price Hovers Around 11000 Recording A 15 Month High

Bitcoin Price Analysis: BTC Price Hovers Around $11,000, Recording A 15 Month High

Bitcoin took the longest jump by crossing $10,000. ,

and now the price is moving at a steady speed to reach $12,000. The first leap of the day helped the coin to touch $10,000. Bitcoin started walking towards $10,000 from 16th June. On the same day, the coin touched $9300 twice in a row. On 17th June 2019, BTC reached $9400, and since then the marketers were eyeing for $10,000. Well, the significant digit has finally broken and valiantly moving towards $11,500 is the next significant milestone before touching $12,000. Bitcoin was found trading at $10,000 in March 2018, and it took over a year for the currency to fight its way out.

Current Statistics of BTC Price:

  • The price of Bitcoin is $10,719.0.
  • The return on investment (ROI) stands at 7,834.58%.
  • The circulating supply of Bitcoin is around 17,772,962 BTC.
  • The market capitalization is noted as $190,801,306,708.
  • The 24hr volume of bitcoin is $24,953,073,535.

Price analysis chart of Bitcoin (BTC):

As per the BTC chart of Trading View on 22nd June 2019, at 07:43:15 UTC price analysis, the BTC to USD price is reflecting an enormous movement in price in the last 24 hours. As soon as the coin opened in yesterday’s market, it jumped from $9568.7 to $9826, marking a progression of 2.6%. The coin continuously moved upwards since then. The only drop that took place yesterday was at 13:25 UTC where the coin slipped from $9914.9 to $9718.8. The long lost wish of the investors came true during the end of the day when the price took off from $9967 to $10,236. Today, the coin opened at $10,227 and climbed to $10,953, marking a progression of 7.10%. It is expected that Bitcoin will cross $11,500 soon.

Bitcoin Price Prediction and Conclusion:

The current scenario of Bitcoin is similar to what happened in 2018. After crossing $10,000, the coin only spends half a month to cross $20,000. The counter seems farfetched, but it won’t be unachievable if BTC crosses $12,000 soon.

Article Produced By
David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

https://www.cryptonewsz.com/bitcoin-price-analysis-btc-price-hovers-around-11000-recording-a-15-month-high/27420/

4 Interesting Notes Regarding Milestone Token Offerings

4 Interesting Notes Regarding Milestone Token Offerings

Token offerings come in many different shapes, forms, and sizes.

That is only par for the course, as the cryptocurrency industry continues to grow and evolve at all times. Milestone Token offerings are seemingly the new hot trend, although they are not as common as one might think. Another interesting business model, albeit one with a bit more merit compared to other types of token offerings.

The Milestone Token Offering Idea

Whereas most token offerings are based on selling a large number of tokens in advance prior to launching a project, the MTO takes a different approach. It is somewhat refreshing to see teams explore options which do not require investors to invest in hopium and hype, but rather look at a project and see what has been realized to date. Whether or not this will attract as much attention as Initial, Security, or Exchange Token offerings, is a very different matter altogether.

As the name somewhat suggests, the Milestone Token offering is very different. Teams will only offer tokens for sale once their development reaches a new milestone on the roadmap. As such, the initial development is very little upfront funding,  and it pushes the developers to effectively keep working on the project moving forward. It seems to be a more goal-driven token offering rather than a money-driven effort, but it remains to be seen if that will yield more successful blockchain projects in the years to come.

What about Regulation?

By the look of things, milestone token offerings will need to adhere to securities laws in the United States and beyond. It will fall into a few possible categories when it comes to securities, but it is advised any project exploring this option to get in touch with the proper authorities. After all, it is also possible to issue utility tokens through this model, but it seems more likely security-esque offerings will become the norm where this business model are concerned.

One also has to wonder who will be able to participate as an investor. Given how this business model seems to lean toward being regulatory compliant, it is not impossible to expect going through a thorough user verification process. After all, the goal of an MTO is to build a bigger community and attract additional funding based on the past and future developments. As such, accredited investors seem to be a very plausible target, especially for projects which are very serious about being regulatory compliant.

Multi-phase Funding is Possible

It would appear there are some interesting options for companies exploring a milestone token offering. One can organize multiple of these token sales to attract a few dozen new investors along the way. As such, they can split every token sale into different batches if they see fit to ensure as many people can get in on the action as possible. One project currently exploring this option is Storecoin, as they will offer multiple phased pricing rounds. A peculiar option to explore, albeit one that may have some merit.

Is it a Viable Business Model?

That is perhaps the most difficult question waiting to be answered. While milestone token offerings are not exactly the big hype as of yet, it would appear there may be a growing interest in this business model moving forward. Especially for legitimate companies, this is a good alternative to ICOs, STOs, and ETOs. Gaining traction with this token sale model may be very difficult at first, as these new models tend to get scrutinized quite a bit. That is to be expected, as token sales do not enjoy the best reputation in the cryptocurrency industry.

Article Produced By
JP Buntinx

https://themerkle.com/4-interesting-notes-regarding-milestone-token-offerings/

Blockchain Based Crowdfunding Bridges Gap Between Global Investors and Business

Blockchain Based Crowdfunding Bridges Gap Between Global Investors and Business

                                

The way in which global business owners and shareholders engage continues

to adapt to changing market forces, technologies and fiscal appetites, however, the need for strong, stable and transparent investment processes remains key to the success of any project. With counterparties often frustrated by a lack of transparency and accessibility, the need for a platform that bridges the gap between investor and investee is increasingly important.

Introducing the iOWN Platform – the Blockchain Powered Investment Platform

Whilst it is true that many investors favor a diversified risk portfolio with a range of industry assets, finding strong partners remains a problem – the solution for many lies in community crowdfunding. Developed in the UAE, iOWN is a blockchain based crowdfunding investment platform that has been specifically designed to bridge the gap between financier and businesses seeking funding. Whether you are an experienced funder or complete beginner, the iOWN global network means that there are accessible opportunities for all with measured risk. Registered users are able to use the iOWN Token to access the platform, where they will be able to invest into a range of industry sectors including Real Estate, IT, Industrials, Pharma & Healthcare and Energy to name a few.

Overcoming the Challenges of Traditional Investment Risk

iOWN addresses many of the issues currently faced by investors with existing on-the-market financial platforms by creating a secure, transparent and simple to use financial ecosystem that minimises risk through community funding. Prospective backers are able to select opportunities based on their own preferences including; location, domain and expected ROI with the advantage of having direct access to vetted business opportunities.

iOWN Provides Market Changing Solution for Business Owners & Investors

Both business owners and investors of today will know just how hard it is to find trusted partners and viable projects – iOWN offers just such accessibility and with qualified portfolios, business owners can minimise the risk of time-loss and fundraising fees whilst retaining control of the sale.

The iOWN Token – the Investment Ecosystem

With the iOWN IEO being launched on June 25th, 2019 users will be able to access and invest into the platform with some 60,000,000 tokens being sold on LATOKEN – with low fees and instant transactions, the token is also fully compliant to all international standards. With a bonus structure of up to 20% and valued at $0.01- tokens are offered for purchase with ETH, BTC, and ERC-20. As an added benefit, iOWN token holders will also be able to use tokens after the IEO to pay for services within the platform. Smart-Contracts and a cutting edge blockchain powered platform make the iOWN system a one-off – a unique investment platform that offers stability, accessibility and minimises risk.

Article Produced By
Rene Peters

Rene is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

https://captainaltcoin.com/blockchain-based-crowdfunding-bridges-gap-between-global-investors-and-business/

IBM Blockchain team reportedly spared worst of firm’s layoffs as it redoubles DLT efforts

IBM Blockchain team reportedly spared worst of firm’s layoffs as it redoubles DLT efforts

                             

Quick Take

  • Despite IBM dismissing nearly 2,000 employees earlier this month, sources say the firm’s blockchain division escaped any dramatic cuts
  • Those who were affected were reportedly confined to the consulting side of the blockchain business
  • Separately, the blockchain project last month saw the departure of one of its leads, Jesse Lund

For all the criticism IBM’s Blockchain project has faced over the years, its ability to grow – and maintain – its team may be one area where it excels. Although IBM laid off 1,700 employees earlier this month, only a “very tiny, tiny percentage” of them came from the blockchain operation, sources close to the team told The Block. “The product team had no layoffs, there was nothing out of development. It was very limited on the blockchain side,” one source who has direct contact with the Blockchain division said. 

While IBM declined to give specific details about the degree to which the layoffs had impacted its blockchain operation, Jerry Cuomo, VP of IBM Blockchain Technology, told The Block: “Blockchain skills are the priority…And we’re full-steam ahead of blockchain.” He added: “We plan to grow for a very long time.” Indeed, a quick search of online job-postings reveals blockchain jobs a-plenty at IBM across the world – from Australia to India. This corroborates with the firm saying it wanted to focus its hiring efforts in new businesses like “analytics, security and blockchain,” and that the layoffs elsewhere were part of a “realignment plan.“

That does not mean the blockchain division escaped any culling, however. Another source reported a handful of layoffs on the services (or consulting) side of the blockchain business, but confirmed the engineering side had been kept intact. The consulting arm is one of the blockchain team’s three pillars and reportedly its main “cash-cow.” It is, however, unrelated to the raw technological side of the business, which encompasses the IBM Blockchain Platform and the IBM Solutions products, which cover the Food Trust Network and the Stellar partnership.  

IBM’s $34 billion acquisition of software developer Red Hat is also set to close. Sources suggested this may lead to more changes in the blockchain team in the near future, as Red Hat’s 13,000-strong team joins IBM’s Hybrid Cloud unit. Red Hat developers are set to work alongside and to utilise IBM’s blockchain team.

Article Produced By
Isabel Woodford

Isabel is The Block’s London and European reporter. She previously reported for Reuters in Madrid and London, following on from her time as a freelance journalist for the Guardian and the New York Times. She has a Bachelors in War Studies from King’s College London and a Master of Philosophy from the University of Oxford. Conflict of Interest: Edward Woodford, the CEO of SeedCX, is Isabel’s brother. She does not report on any issues related to Seed or advise other authors in any regard.

https://www.theblockcrypto.com/2019/06/20/ibm-blockchain-team-reportedly-spared-worst-of-firms-layoffs-as-it-redoubles-dlt-efforts/

Bitcoin Price Approaches 10000 as Total Market Cap Exceeds 300 Billion

Bitcoin Price Approaches $10,000 as Total Market Cap Exceeds $300 Billion

                                

Bitcoin price sets a new 2019 all-time high reaching $9,800.

Also, the majority of the top 100 altcoins are in the green zone as the total market cap exceeds $300 billion.The last time when Bitcoin was at $9,820 we were in a bear market. However, the last time before April 2018, was November 2016, and we were in a constantly rising bull market. When looking at 2017 levels, after $9,800, Bitcoin price reached $20,000 in less than a month. Can we expect a similar increase sometime soon?

Today Bitcoin price surges up with +6%. The overall cryptocurrency market is seeing only green with the total market cap going pass $300 billion. Back at the end of 2017, the start of 2018, the overall market cap had reached its peak when it almost touched $800 billion but failed to hold that level as it heavily dropped to $425 billion in less than a month. The cryptocurrency markets seem to be recovered as it looks like the bottom was reached on December 2018, when the price of Bitcoin was at its 2019 lowest – $3,200. Some speculate that this is in the shadow of the upcoming Bitcoin Halvening in 2020 when the daily Bitcoin supply will be cut in half. Usually, after every halvening, Bitcoin price has seen a significant increase.

Other Alts Follow Bitcoin

Since it is known that altcoins usually follow the price fluctuations of Bitcoin, this time is no exception. As Bitcoin rises +6% today, the majority of altcoins also sets new 2019 all-time highs. For example, Ethereum is the top gaining altcoin, going up almost +8% today. Ethereum also sets a new 2019 high, reaching $290. Additionally, Binance Coin still is sitting on an ever-growing price rise, reaching all-time highs of $37.80. This could be the impact of the recent BNB Elrond (ERD) token sale lottery where users have to accumulate an average BNB amount for 9 days in order to qualify for a lottery ticket in the Elrond token sale.

Moreover, Bitcoin Cash is also one of the top gainers out of the top 10 most popular cryptocurrencies, surging +7% today. Also, XRP finally rises almost +4%, even though it declined after the big news of a partnership with MoneyGram. However, on the biggest gainer and loser side of CoinMarketCap, we see many “dead” altcoins pumping as much as +400% and even more.

Gold Reaches Its Highest Levels Since 2013

While today we celebrate the rise of cryptocurrencies, the traditional commodity king – Gold, also touched new 5 year highs, reaching $1388. This happened after Wednesday’s FOMC meeting, where the US central bank

left interest rates unchanged.

“US Treasuries rallied on the heels of the Fed news, sending yields lower. Bond yields typically fall when investors expect a rate cut. On Thursday, yields on the 10-year US Treasury bond fell below 2% for the first time since late 2016,” writes FXStreet.

Some even say that this is tied to the geopolitical tensions in the Middle East. In an Iranian shooting, a U.S. drone got shot down on Thursday. This action boosted oil prices and supported safe-haven assets.

Article Produced By
Janis Rijnieks

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