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BTC outperforms precious metals in H1 2020



BTC has shown why it remains the favourite among global investors as data from Messari, a crypto analytic firm, revealed that in the first half of 2020 BTC gained more than 27% performing better than precious metals that include platinum gold and silver.

The yellow precious metal underperformed BTC by nearly 11% points, despite surging to about 16% at the first half of 2020 and touching eight-year highs last month. Platinum and silver both ended the first half of 2020 with negative gains.

Bitcoin’s strong performance is no shock to some analysts, especially in context of the benchmark cryptocurrency’s showing high correlation with global equity markets.

“Given that equities are now near, or in some cases above, their highs reached in February, it’s not surprising to see BTC do the same,” said Ryan Watkins, BTC analyst at Messari.

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Why compare returns from BTCs to gold or other precious metals? “Gold is bitcoin’s most aspirational asset,” explained Watkins. “Like BTC, gold is a scarce commodity whose value is derived almost entirely from its monetary premium.”

According to a recent report from Bloomberg, BTCs will continue to outperform most of the highly speculative crypto assets. Down about 12% on a one-year basis, the benchmark outshines peers’ performance.

Too much supply and ease of entry should continue to weigh on most alt-coins, still in an extended hangover from the parabolic gains to the 2017-18 peaks. It’s the increasing differentiation, maturation and more widespread adoption that favours BTCs, which is becoming more of a gold-like store of value.

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Olumide Adesina a French-born Nigerian, an Investment Professional at Nairametrics Financial Advocates, owners of Nairametrics.com. He is a Certified Investment Trader, with more than a decade working expertise in Investment Trading. A member of the Chartered Financial Analyst Society. Financial Market; Yale University, Behavioral Finance; Duke University. You can follow Olumide on twitter @tokunboadesina or email olumide.adesina@nairametrics.com

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CRYPTOCURRENCY

Within 72 hours USDC Treasury transfers over 50,000,000 USDC to wallets

Crypto lovers continued to troop to stablecoins, as USDC market cap broke the $1 billion market capitalization.

Published

 19 hours ago 

on

 July 6, 2020

By

  
In less than 72 hours USDC Treasury Transfers over 50,000,000 USDC to wallets

In just three days, fast-growing cryptocurrency, USDC, a stable coin project founded by Circle and Coinbase, just released 50 million digital coins from its treasury to various wallets in less than 72 hours. Data compiled from Whale Alert, an advanced blockchain tracker, and analytics system showed the time these transactions took place.

According to Coinbase a leading American based crypto exchange, the consortium that mints USDC, collectively holds US$1.00 for every single USDC. These funds are held in a special bank account that is constantly monitored and audited.

Explore the advanced financial calculators on Nairametrics

Crypto lovers continued to troop to stablecoins, as USD Coin’s (USDC) market cap broke the $1 billion market capitalization threshold for the first time since the stablecoin was launched in October 2018.

Quick Fact: USDC is a fully collateralized US dollar stablecoin. It is an Ethereum powered coin and is the brainchild of CENTRE, an open-source project bootstrapped by contributions from Circle and Coinbase. USDCs are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency in a 1 USDC:1 USD ratio.

GTBank 728 x 90

READ MORE: Coinbase, Binance, and Kraken Lead in Blockchain Merger & Acquisition Deals

Things you must know: Investors of stablecoins make money by earning dividends from the newly created digital coins being given to them for holding such stablecoin stock.

 

onebank728 x 90

CONTINUE READING

CRYPTOCURRENCY

Best time to make money trading BTCs

Midweek had more volatility in the BTC market than the beginning or end of the trading week.

Published

 2 days ago 

on

 July 5, 2020

By

  
A Mysterious Bitcoin Whale Causes Brief Panic Sell Offs at Bitcoin’s Market, The odds against Bitcoin, Goldman Sachs says Bitcoin is not an investment asset, BTC whales control the BTC market, at the highest levels 

Most BTC investors and crypto traders are changing their methods of trading in 2020, preferring to trade around the American trading session because of the high price volatility that occurs at the start of New York stock market trading time, about 2.30 pm local time.

Data seen on Twitter feeds show that price volatility for the world’s flagship currency by market capitalization is highly correlated with the opening of American financial markets.

In addition, other trading sessions like the London and Asian financial market openings have considerably little impact on BTC’s price volatility.

READ ALSO: How BTC Whales can push BTC market value to $1 trillion

“Can we just halt $BTC trading during Asia + Euro hours,” a crypto trader, Hsaka, said uploading evidence, which relates to the previous few days on U.S. exchange, Coinbase.

GTBank 728 x 90

The data may have unearthed changing tendencies among BTC traders, possibly due to the increasing prevalence of institutions within the market.

Furthermore, Skew.com, a crypto analytic firm, found out that the midweek had more volatility in the BTC market than the beginning or end of the trading week. Weekends were also observed to be quiet.

onebank728 x 90

Download the Nairametrics News App

Meanwhile, data from Glassnode, a data analytic firm, showed that about 1.8 million Bitcoins are held in miner wallets around 10% of the supply (18.5million BTC). However, around 1.73 million belong to first-time miners (7+ years) and are most likely lost. That leaves only 70k BTC in the hands of current mining pools.

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CONTINUE READING

CRYPTOCURRENCY

USDC Treasury Transfers 20,000,000 USDC to Unknown Wallet

According to data from Coinmarket cap, the digital coin has experienced growth exponentially.

Published

 3 days ago 

on

 July 4, 2020

By

  
Cryptocurrencies, Meet the cryptocurrency catching the world’s attention, Theta Fuel gains 630% in 5 days., U.S regulator invites Banking and Crypto industry leaders for partnership, 3 Crypto Exchanges Control About 14.3%, Circulating BTC Supply. 

As global investors seek the next big thing in the crypto asset space, fast-growing cryptocurrency, USDC, a stablecoin project founded by Circle and Coinbase, just released a whopping 20 million digital coins to an unknown wallet. This is according to Whale Alert, an advanced blockchain tracker, and analytics system.

READ ALSO: Tether, the most promising stable coin, now the third most valuable cryptocurrency

Crypto lovers seem to be trooping to stablecoins lately, as USD Coin’s (USDC) market cap broke the $1 billion market capitalization threshold for the first time since the stablecoin was launched in October 2018.

READ ALSO: These coins are currently trading close to their ICO prices

GTBank 728 x 90

Quick Fact: USDC is a fully collateralized US dollar stablecoin. It is an Ethereum powered coin and is the brainchild of CENTRE, an open source project bootstrapped by contributions from Circle and Coinbase. USDCs are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency in a 1 USDC:1 USD ratio.

Things you must know: Investors of stablecoins, such as USDC, make money by earning dividends from the newly created digital coins being given to them for holding such stablecoin stock.

Download the Nairametrics News App

onebank728 x 90

According to data from Coinmarket cap, the digital coin has experienced growth exponentially.

USDC, the second-largest USD-pegged stablecoin after Tether (USDT), is ranked the 18th largest cryptocurrency by market cap, with a daily trading volume of $246 million.

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CONTINUE READING

BTC outperforms precious metals in H1 2020

BTCs will continue to outperform most of the highly speculative crypto assets.

Published

 1 min ago 

on

 July 7, 2020
Bitcoin users rise in Nigeria despite Senate, CBN campaign against it, Nigerians losing millions to crypto fraud, Investing in cryptocurrencies in this economic shutdown, Bitcoin could hit above $100,000 by August 2021, Hedge funds, Institutional investors rush to have a stake in Bitcoin, An unknown Bitcoin whale moved $1.3 billion in few mins. Binance, Bitfinex Coinbase, Huobi, receive about 40% of all BTCs 

BTC has shown why it remains the favourite among global investors as data from Messari, a crypto analytic firm, revealed that in the first half of 2020 BTC gained more than 27% performing better than precious metals that include platinum gold and silver.

The yellow precious metal underperformed BTC by nearly 11% points, despite surging to about 16% at the first half of 2020 and touching eight-year highs last month. Platinum and silver both ended the first half of 2020 with negative gains.

Bitcoin’s strong performance is no shock to some analysts, especially in context of the benchmark cryptocurrency’s showing high correlation with global equity markets.

“Given that equities are now near, or in some cases above, their highs reached in February, it’s not surprising to see BTC do the same,” said Ryan Watkins, BTC analyst at Messari.

GTBank 728 x 90

Why compare returns from BTCs to gold or other precious metals? “Gold is bitcoin’s most aspirational asset,” explained Watkins. “Like BTC, gold is a scarce commodity whose value is derived almost entirely from its monetary premium.”

According to a recent report from Bloomberg, BTCs will continue to outperform most of the highly speculative crypto assets. Down about 12% on a one-year basis, the benchmark outshines peers’ performance.

Too much supply and ease of entry should continue to weigh on most alt-coins, still in an extended hangover from the parabolic gains to the 2017-18 peaks. It’s the increasing differentiation, maturation and more widespread adoption that favours BTCs, which is becoming more of a gold-like store of value.

onebank728 x 90

RELATED TOPICS:

Olumide Adesina a French-born Nigerian, an Investment Professional at Nairametrics Financial Advocates, owners of Nairametrics.com. He is a Certified Investment Trader, with more than a decade working expertise in Investment Trading. A member of the Chartered Financial Analyst Society. Financial Market; Yale University, Behavioral Finance; Duke University. You can follow Olumide on twitter @tokunboadesina or email olumide.adesina@nairametrics.com

CLICK TO COMMENT

CRYPTOCURRENCY

Within 72 hours USDC Treasury transfers over 50,000,000 USDC to wallets

Crypto lovers continued to troop to stablecoins, as USDC market cap broke the $1 billion market capitalization.

Published

 19 hours ago 

on

 July 6, 2020

By

  
In less than 72 hours USDC Treasury Transfers over 50,000,000 USDC to wallets

In just three days, fast-growing cryptocurrency, USDC, a stable coin project founded by Circle and Coinbase, just released 50 million digital coins from its treasury to various wallets in less than 72 hours. Data compiled from Whale Alert, an advanced blockchain tracker, and analytics system showed the time these transactions took place.

According to Coinbase a leading American based crypto exchange, the consortium that mints USDC, collectively holds US$1.00 for every single USDC. These funds are held in a special bank account that is constantly monitored and audited.

Explore the advanced financial calculators on Nairametrics

Crypto lovers continued to troop to stablecoins, as USD Coin’s (USDC) market cap broke the $1 billion market capitalization threshold for the first time since the stablecoin was launched in October 2018.

Quick Fact: USDC is a fully collateralized US dollar stablecoin. It is an Ethereum powered coin and is the brainchild of CENTRE, an open-source project bootstrapped by contributions from Circle and Coinbase. USDCs are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency in a 1 USDC:1 USD ratio.

GTBank 728 x 90

READ MORE: Coinbase, Binance, and Kraken Lead in Blockchain Merger & Acquisition Deals

Things you must know: Investors of stablecoins make money by earning dividends from the newly created digital coins being given to them for holding such stablecoin stock.

 

onebank728 x 90

CONTINUE READING

CRYPTOCURRENCY

Best time to make money trading BTCs

Midweek had more volatility in the BTC market than the beginning or end of the trading week.

Published

 2 days ago 

on

 July 5, 2020

By

  
A Mysterious Bitcoin Whale Causes Brief Panic Sell Offs at Bitcoin’s Market, The odds against Bitcoin, Goldman Sachs says Bitcoin is not an investment asset, BTC whales control the BTC market, at the highest levels 

Most BTC investors and crypto traders are changing their methods of trading in 2020, preferring to trade around the American trading session because of the high price volatility that occurs at the start of New York stock market trading time, about 2.30 pm local time.

Data seen on Twitter feeds show that price volatility for the world’s flagship currency by market capitalization is highly correlated with the opening of American financial markets.

In addition, other trading sessions like the London and Asian financial market openings have considerably little impact on BTC’s price volatility.

READ ALSO: How BTC Whales can push BTC market value to $1 trillion

“Can we just halt $BTC trading during Asia + Euro hours,” a crypto trader, Hsaka, said uploading evidence, which relates to the previous few days on U.S. exchange, Coinbase.

GTBank 728 x 90

The data may have unearthed changing tendencies among BTC traders, possibly due to the increasing prevalence of institutions within the market.

Furthermore, Skew.com, a crypto analytic firm, found out that the midweek had more volatility in the BTC market than the beginning or end of the trading week. Weekends were also observed to be quiet.

onebank728 x 90

Download the Nairametrics News App

Meanwhile, data from Glassnode, a data analytic firm, showed that about 1.8 million Bitcoins are held in miner wallets around 10% of the supply (18.5million BTC). However, around 1.73 million belong to first-time miners (7+ years) and are most likely lost. That leaves only 70k BTC in the hands of current mining pools.

app

CONTINUE READING

CRYPTOCURRENCY

USDC Treasury Transfers 20,000,000 USDC to Unknown Wallet

According to data from Coinmarket cap, the digital coin has experienced growth exponentially.

Published

 3 days ago 

on

 July 4, 2020

By

  
Cryptocurrencies, Meet the cryptocurrency catching the world’s attention, Theta Fuel gains 630% in 5 days., U.S regulator invites Banking and Crypto industry leaders for partnership, 3 Crypto Exchanges Control About 14.3%, Circulating BTC Supply. 

As global investors seek the next big thing in the crypto asset space, fast-growing cryptocurrency, USDC, a stablecoin project founded by Circle and Coinbase, just released a whopping 20 million digital coins to an unknown wallet. This is according to Whale Alert, an advanced blockchain tracker, and analytics system.

READ ALSO: Tether, the most promising stable coin, now the third most valuable cryptocurrency

Crypto lovers seem to be trooping to stablecoins lately, as USD Coin’s (USDC) market cap broke the $1 billion market capitalization threshold for the first time since the stablecoin was launched in October 2018.

READ ALSO: These coins are currently trading close to their ICO prices

GTBank 728 x 90

Quick Fact: USDC is a fully collateralized US dollar stablecoin. It is an Ethereum powered coin and is the brainchild of CENTRE, an open source project bootstrapped by contributions from Circle and Coinbase. USDCs are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency in a 1 USDC:1 USD ratio.

Things you must know: Investors of stablecoins, such as USDC, make money by earning dividends from the newly created digital coins being given to them for holding such stablecoin stock.

Download the Nairametrics News App

onebank728 x 90

According to data from Coinmarket cap, the digital coin has experienced growth exponentially.

USDC, the second-largest USD-pegged stablecoin after Tether (USDT), is ranked the 18th largest cryptocurrency by market cap, with a daily trading volume of $246 million.

app
CONTINUE READING

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