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The agiotage in the cryptocurrency market is over

Aug 21, 2019

The activity of buyers in the cryptocurrency market remains very weak. All 14 coins with a capitalization of more than $1B show negative dynamics over the last 24 hours, while there is still no panic.

The Winklevoss Brothers and Libra

During the interview on CNN, the Winkwoss Brothers announced that they are negotiating a possible collaboration with the Libra Association. We recall that the Winklevoss are the founders of the Gemini bitcoin exchange as well as one of the first large investors.

At the moment, it is still too early to talk about the prospects of this cooperation, because the brothers had previously sued Facebook CEO, Mark Zuckerberg. However, according to Tyler Cameron, this conflict should not stop them.

“Facebook was a disagreement for us, but it didn’t affect us as people. Gemini is much more a reflection of us as people, our views and interests, ”said Tyler Cameron.

Given that the market reacted very positively to the prospect of Libra, the development of this project may provide moderate support for bitcoin and other coins.

@Bitcoin Twitter Account Supports Bitcoin (BTC) Again

The notorious Twitter account @Bitcoin once again changes the link in the description from Bitcoin.com, which is also known as one of the main mouthpieces of Bitcoin Cash, to Bitcoin.org. The reasons why an account with nearly a million subscribers unexpectedly refused support for Bitcoin Cash remain unknown. But now there is a fairly active discussion of this news, which has generated many versions and theories.

The user of @BashCo_, meanwhile, suggested that perhaps, following the advice of Roger Vera and Craig Wright, the owner of @Bitcoin invested all his savings in Bitcoin Cash and, after suffering losses, decided to take revenge on them in this way.

The creator of Litecoin, Charlie Lee, agrees with this version, although he warns that he does not have any proof. However, @Bitcoin retweeted his post.

It was also noted that in a short time, @Bitcoin unsubscribed from all Bitcoin Cash-related accounts, and also deleted all relevant tweets.

97% of cryptocurrency exchanges in South Korea are on the verge of bankruptcy

Low trading volumes jeopardize the existence of the vast majority of South Korean cryptocurrency exchanges, as well as forcing local startups to look for ways to list their coins on foreign sites.

Even though Business Korea does not provide real proof in its article, there is no reason to argue that trading volumes on South Korean cryptocurrency exchanges are low. Moreover, only 5 of them are in the TOP 100 in terms of trading volumes, and many local startups are forced to get listed on foreign platforms. 

We also note that 200 small exchanges cannot open verified virtual accounts, depriving investors of any protection. There are also problems with making deposits and withdrawing funds in fiat. It reduces the competitiveness of local sites.

We recall that at the end of 2017 and the beginning of 2018, this country accounted for about 20% of the global trading volume of bitcoin. Now the situation has changed a lot, which is negative for the cryptocurrency market.

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