Altcoin

The Use Case for Bitcoin was Finished – Mike Novogratz

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Mike Novogratz at the 2019
Ethereal Summit stated that Bitcoin would not change the world by itself by
being a store of value.  He opined that
the use case for Bitcoin “was finished.”

When talking about the Altcoins,
he stated, “There’s no one building anything on the Litecoin blockchain.”
However, in the past, Novogratz had glorified selling Litecoin and had called
it a testnet for Bitcoin.  He stated that
several Altcoins would succeed with their unique use cases.  He previously predicted that Bitcoin would
hit on the $20,000 in the forthcoming 18 months.

For a short period Bitcoin
hovered beyond the $8,000 on May 14, 2019.

The price of XRP has been up by
17%.  The price tested the yearly highs
above $0.3700 touching at $0.378. While several cryptocurrencies have been
trading for more than 100% ever since the beginning of the year, XRP has been
in the red.  The support and resistance
level has been hovering at around $0.30-$0.31. 
The total market capitalization of XRP climbed above $15 billion
sustaining the third place in the market.

Borse Stuttguard has listed
Litecoin ETN and XRP.  The ETN can be
used by the traders to bet on XRP and LTC. The ETN has been made available in
the exchange from May 13, 2019. 
Swiss-based exchange as well launched the ETP based on the XRP.

ETNs are unsecured debt
securities, which are a lot like ETFs traded on stock exchanges.  Such products permit investors to gain
exposure to asset classes.  Thus
investors will be exposed to cryptocurrencies without having to purchase them
directly.

The increase in the price of Litecoin is at par with that of other coins, which has been trading around 90$.  Several other Altcoins have been rising by 6.02% on a daily scale.  Litecoin has a market cap of $5.63 billion and continues to be on the bullish course along with Bitcoin.

The bull run of Bitcoin has
triggered the rise of XRP as well.  XRP
has been trading in smaller ranges of $0.30 for quite some time now.  Considering past highs, there is tremendous
room for the growth of XRP and the last alt-season was in reality triggered by
XRP. The XRP price is trying to catch up with the positive momentum of Bitcoin.

However, when discussing the
speed of Bitcoin one of the tweets read: 
“When I post about #bitcoin
I get shilled that it’s slow compared to ripple or bcash or whatever crap. Yes,
I can use a Google Spreadsheet, and it’ll be faster than bitcoin too, but
safer?”


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Altcoin

Winklevoss: Buying Bitcoin isn’t “as crazy as sitting on the sidelines”

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Blockchain

Update From New York City’s Blockchain Week

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PHOTO:
Kai Pilger

For the last five years, every spring CoinDesk has been hosting its blockchain technology conference Consensus in New York City. The idea is to bring together the top brands and developers in the cryptocurrency and blockchain spaces to learn what’s new and what’s next. The event has grown to include the surrounding Blockchain Week, which includes both official and unofficial events thanks to the volume of attendees.

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Regulation

Central Bank of Russia Expects Crypto Draft Bill to Be Adopted in Spring 2019

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The central bank of Russia believes that the draft bill on crypto regulation is prepared enough to be adopted in the spring of 2019, local news agency TASS reports on May 22.

Olga Skorobogatova, first deputy governor of the Russian central bank, has stated that the bank expects the crypto bill, “On Digital Financial Assets” (DFA), to be adopted during the spring session in 2019 in accordance with the order of the country’s president, Vladimir Putin.

Speaking at a recent meeting of the Parliament, Skorobogatova argued that the DFA, as well as a draft law on crowdfunding and other crypto-related bills, are at a “sufficiently high degree of preparedness” to be adopted during the session.

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Bitcoin

Goldman-Sachs Backed Circle Blames ‘Restrictive’ US Laws for Layoffs

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Ethereum

Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend

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Wednesday, May 22 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $7,900 mark again.

Market visualization courtesy of Coin360

Bitcoin is down over .5% on the day, trading at $7,850 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 1.83%.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

This week, Cointelegraph reported that CME Group, the second global exchange to list bitcoin (BTC) futures, is about to record the biggest trading month for BTC futures trading.

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