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BTC is going to grow!

May 1, 2019

The last three months the BTC price is growing. In February and March was observed a weak growth, by 9.8% and 8.16%, respectively, in April was recorded an impressive growth - more than 26%. A steady upward trend in BTC for three months has not been observed since the second half of 2017. At that moment, there was a rapid growth, which ended with the historical high of $20000 for BTC.

It is noteworthy that for the entire 2018 there were only three profitable months for the BTC investors. In February 2018 was recorded a negligible growth by 1.4%, in April - by 33% and in July a  - less than 21%. As we can see, the current April was very profitable for BTC.

Bitfinex wants to raise $ 1B

Bitfinex is in the spotlight. Earlier, The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and used Tether’s reserves to cover the losses. According to law enforcement, iFinex Inc, the operator of the trading platform, borrowed at least $700 million to fill the gap without notifying users. There is information, not yet confirmed, about trying to attract $1B to Tether (USDT) through IEO. The exchange is likely to issue its token to attract the required amount.

According to Davi Van, a  partner of Primitive Ventures, the information on the upcoming initial exchange offer was confirmed by one of the holders of the BFX securities.

At this stage, it is difficult to determine the purpose of this deal because it will not lead to the full security of Tether (USDT). This can be achieved with redirected profits from this placement to the reserves of Tether, which so far looks unlikely.

Bakkt is expanding

Bakkt Institutional Bitcoin Futures Platform announced the acquisition of Digital Asset Custody Company (DACC)  on April 29th. It also disclosed information about the partnership with BNY Mellon, a large American bank.

The acquisition of DACC will significantly accelerate the issue of improving security and scaling.

“We are exploring the possibility of scaling and supporting additional digital assets, and the native support of 13 blockchains and more than 100 assets offered by DACC will give us an important acceleration, ” wrote Adam White, one of the top managers of Coinbase in the past.

This news indicates the rapid development of the market, thereby increasing the likelihood of growth of the leading cryptocurrencies in the medium and long term.

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