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Thursday, 26 April 21:42 (GMT -05:00)



Foreign exchange market

It’s the Day of Reckoning for Cryptocurrency Funds, Bloomberg Says


Bloomberg experts claim that the day of reckoning for cryptocurrency funds has finally come. Last year, when the world’s first digital currency (Bitcoin) went sky-high in mid-December and reached another all-time high at 20000 USD/BTC, over 150 funds specializing in cryptocurrencies emerged on the Internet. In 2017, theirprofitsreached 1000%.

By now, the BTC exchange rate has dropped by almost 70% below 7000 USD/BTC, which is the lowest level since November 2017. Apparently, this means significant loss of profits for those funds. There is no denying the fact that these days investors will think twice before investing in cryptocurrencies.

 

The inflow of investment capital has slowed down considerably, even in such respected funds as Multicoin Capital, which is confirmed by their founders. Founded in August 2017, when the interest in Bitcoin was peaking, the mentioned fund managed over 50 million dollars in assets.
 
It’s interesting to note that since then, at least 9 cryptocurrency funds have ceased to exist and deleted their Facebook and twitter accounts. One of those funds named Alpha Protocol reasoned their decision by saying that taking into account potential regulatory and market risks, the best option would be to refund those investors who participated in the ICO.

At the same time, other funds have been cutting down on their market activity and reducing their market exposure. For example, back in September 2017, Polychain Capital used to run some 250 million dollars in assets. In January 2018, it rejected the listing in Canada. Famous currency market player and billionaire Mike Novogratz refused to create his own crypto-fund. Instead, he decided to create a bank working with blockchain-based startups.
 
According to Rick Marini from Autonomous Research LLP., up to 10% of hedge funds currently investing in cryptocurrencies will have to close till late 2018. The reason has to do with the difficulties to attract enough external funds required to service institutional investors.

 

 

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Experts Say, Iran’s Cryptocurrency Ban Won’t Affect BTC Rate

The central bank of Iran has banned cryptocurrencies. This decision was made on April 22nd. Apart from banning any cryptocurrency transactions in Iran, they also decided to ban any ads related to cryptocurrencies or blockchain. The reason is simple: cryptocurrencies may be used for money laundering, or sponsoring terrorism, or any other illegal activities. This is explained in the central bank’s official press release.

Publication date: 25 April 12:57 AM

World Bit Bank Names Crypto Bank’s Key Goal and Prospects

The world’s first crypto bank – The World Bit Bank (WBB) – has reported about obtaining two major licenses, which are going to lay the foundation for providing authorized cryptocurrency-related services.

Publication date: 24 April 09:45 AM

Trading Week Starts with Stronger Dollar and Cryptocurrencies and Weaker Gold

The last trading week of April started from the strengthening of the U.S. Dollar and cryptocurrencies and the weakening of gold. At this point, the USD index has gained up to 90,38 points (+0,07%).

Publication date: 23 April 11:52 AM

Backed by Alpari, Bicycle Expedition Conquers North Pole

For the first time in history, the northernmost point of our planet was conquered by a man on a bicycle, who is famous Russian adventurer Bogdan Bulytchev. For those of you who don’t know, he is a member of the Russian Geographical Society and the State Polar Academy.

Publication date: 21 April 12:23 PM

Roubini Names Blockchain Overhyped Technology

Famous economist Nouriel Roubini criticized the foundation of cryptocurrencies – the so-called blockchain technology. In his article for Project Syndicate, Mr. Roubini called blockchain the most overhyped technology ever.

Publication date: 20 April 04:08 AM

Bitcoin Gains Value: 2 Days in a Row. Over 10% a Day

Now it seems that the long-term retracement of the USD/BTC exchange rate seen over the first quarter of the year is gradually reversing back for the uptrend.

Publication date: 13 April 12:57 PM

Bitcoin Rate and US-China Trade War

The cryptocurrency market has been going down steadily for a while. According to CoinMarketCap, the Bitcoin exchange rate has been moving around 6800 USD/BTC. Ethereum, Ripple, Bitcoin Cash and Litecoin have been trading around 382, 0,49, 633, and 119 dollars per coin respectively.

Publication date: 06 April 10:02 AM

Masterforex-V Expo Names World’s Best Forex Brokers For Beginners in March 2018

Each and every forex trader out there faces the same challenge at some point in their career. This challenge boils down to choosing the right forex broker. This holds especially true for beginners who are just getting their feet wet in the forex trading environment. This choice is fairly significant for all of them since their future trading performance will depend on that choice. The truth is, all of those forex companies may differ in a number of aspects, including the offered trading conditions.

Publication date: 04 April 12:01 AM

Bitcoin 2018: New Cryptocurrency Realities

In March, the BTC exchange rate dropped by almost 3000 dollars. Some experts predict a further downtrend in the near future, Market Leader reports.

Publication date: 28 March 06:22 AM

Experts Predict Bitcoin Move Above $10K

This week Bitcoin may come close to the psychological level of 10000 USD/BTC and break above it, some international experts say.

Publication date: 26 March 02:10 AM