🗞 Daily Crypto News, January, 25th💰

in #cryptolemon • 4 years ago

  • ‘Nothing Special’ — Bitcoin Slumps 6% on Coronavirus, Chinese New Year ;
  • Litecoin Creator Proposes Miners Voluntarily Donate 1% for Development ;
  • Bitcoin Risk-Return a ‘Different Beast’ Compared to Amazon: Analyst;
  • Notes From the WEF: Cash Is Dead, Long Live Digital Cash ;
  • Davos Experts: Central Banks Focus on Crypto Due to Fear of Exclusion;
  • 🗞 Daily Crypto News, January, 25th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 ‘Nothing Special’ — Bitcoin Slumps 6% on Coronavirus, Chinese New Year

Bitcoin (BTC) has shed 6% in a week thanks mainly to Chinese New Year and uncertainty over coronavirus, commentators are suggesting.

Analyzing Bitcoin price data along with Chinese stocks’ performance on Jan. 24, social media resource Light said a slump in performance had spread to cryptocurrency.

“China coronavirus-driven risk-off blanketing Chinese equities… and Bitcoin. Iran correlation, now Chinese equities,” Light commented.

The analysis summarized:

“If there was ever a statement to the effect, Bitcoin has now made it to the global stage.”

🗞 Litecoin Creator Proposes Miners Voluntarily Donate 1% for Development

Litecoin (LTC) founder Charlie Lee proposed mining pool donations as a new funding method for cryptocurrency development.

“I think a better way to fund development is mining pools voluntarily donate a portion of the block reward,” Lee said in a tweet on Jan. 24, adding:

“How about Litecoin pools donate 1% (0.125 LTC) of block rewards to the @LTCFoundation? If every miner/pool does this, it amounts to about $1.5MM donation per year!”

With 1% donated on a consistent basis, Lee’s suggested solution would provide enough funding for Litecoin permanently going forward, Lee confirmed to Cointelegraph.

🗞 Bitcoin Risk-Return a ‘Different Beast’ Compared to Amazon: Analyst

Bitcoin’s (BTC) risk-return is a “different beast” compared to even the darling of the stock market of the 2000s, Amazon.

That was the conclusion drawn by one of the cryptocurrency industry’s best-known analysts and the creator of a uniquely accurate Bitcoin price model.

PlanB: Amazon “normal” compared to BTC

Uploading a chart showing BTC risk-return versus Amazon stocks, U.S. bonds, gold and the S&P 500 on Jan. 24, PlanB showed Bitcoin behaved completely differently as an investment.

Amazon’s significant losses in the year 2000, combined with its revered recovery ever since still keeps it far below Bitcoin’s risk-reward ratio.

🗞Notes From the WEF: Cash Is Dead, Long Live Digital Cash

“Physical money is out,” said B.S. Kohli, an economic advisor to the head of the Indian state of Punjab. Mothanna Gharaibeh, Jordan’s minister of digital economy and entrepreneurship, agreed.

As of this year, Gharaibeh said, Jordanians can no longer pay for government services, from taxes to hospital bills, with cash. They must use electronic payment systems like bank transfers or mobile wallets.

“It’s going to be a tough transformation,” he said, referring to the nation’s poor and unbanked populations. “But refugees can take mobile wallets using their UN Refugee Agency ID cards. … We just need to stop printing [bills] and put it instead on mobile accounts or in bank accounts.”

🗞 Davos Experts: Central Banks Focus on Crypto Due to Fear of Exclusion

European Commission executives have conceded that there is a pressing need for digital alternatives to conventional currency – but continue to condemn cryptocurrencies as “highly speculative.”

In a panel session entitled “Creating a Credible and Trusted Digital Currency,” held at the World Economic Forum in Davos on Thursday, Valdis Dombrovskis, Executive Vice-President at the European Commission, stated that governments must “issue warnings to investors on the highly speculative nature” of cryptocurrencies.

However, Dombrovskis conceded that Brussels also recognizes there are now financial “needs that are unaddressed, including fast, convenient and cheap cross-border payments.”

🗞 Daily Crypto News, January, 25th💰

  • OKB (OKB)

"Join us on 25 Jan to meet fellow crypto enthusiasts in your community & learn more about crypto trading."

  • Cardano (ADA)

"On Jan 25, Joshua( @jaycidiq ) #Cardano meetup Ambassador is holding a local #CardanoCommunity #Meetup in Port Harcourt..."

  • Synthetix Network Token (SNX)

SNX/DAI Futures expiration at 17:00 on MCDEX exchange.

  • Actinium (ACM) and 4 others

"... CoinEx together with @pigeoncoin @sumokoin @LBRYio @ChainSpock will airdrop red packets of 888888 PoW coins...."

  • Polis (POLIS)

"Next Saturday (25/01) upon reaching block height 525,600 we will have a 20% block reward reduction, a 'fifthening'."

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

As I was saying yesterday, the break of the support line at 0.155$ was not yet confirmed and we had good news today as we went back upper than that support line. We just did a pull back on it now and so the important is to see now if we will have a bounce from that line to confirm that we saved that support of if we will break it again and accelerate the correction.

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4 years ago in #cryptolemon by
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