Are you a bull or a bear? Bitcoin and Etherum
showed consistent gains for the second straight
week. Cardano ADA is on the heels of a successful
network upgrade and Chainlink continues to
dominate with huge price gains.What’s in
store for the near future, and what are mainstream
companies doing to hedge their capital against
a declining dollar? Hint, it starts with a
C and ends in an O. Stick around as we look
into these stories and others on this week’s
edition of Exodus Crypto News.
Hey everybody, welcome back to our weekly
dose of crypto news highlights. We’re going
to kick it off this week with what everyone
is thinking about.
That’s right, BTC and ETH
have been solid this last week and for anyone
who was around in late 2017, this August pump
of the top two cryptocurrencies by market
cap is almost Dejavu. At the time of recording
BTC is up over 26% sitting at just under $12,000
and ETH continues to rally to levels not seen for the last 2 years.
What’s
your prediction, are we going to continue to climb or
are the markets poised for a fall.
The comments are
open.
There are a couple of factors here that
might help you decide which camp you’re
in. First, The news this week of Goldman Sachs
warning that the dollar is at risk of losing
its status as the world’s reserve currency
might entice mega corps and investors into
looking for viable alternatives to use as
a world currency for preserving their capital,
we can see some of this happening in the Gold
markets since May of this year and, second, if this
news was not enough to poke the bull, the
US fed is considering increasing the inflation
rate from their target 2% to somewhere between
2 and 4% to help stimulate the economy. What
does this mean for you? Cameron Winklevoss
summed it up pretty nicely in this tweet.“A
General Store was once called a nickel store.
Over time, it became called a five-and-dime
store (all items priced at either 5 or 10
cents). Today, it's called a dollar store.
Soon, it will be called a ten dollar store,”
That’s right, that dollar in your pocket
is getting lighter, as the US government is
printing about one million of them every second.
This is making asset classes like BTC and
Gold very attractive and in fact major firms
like Tudor investments, Fidelity, and grayscale
have all been steadily pouring money into
crypto. And now for the bear, the BTC price has
been strongly correlated to the US stock markets
since the beginning of the year and many analysts
are predicting a weakened traditional market
in the near future, so unless BTC can uncouple
from the traditional markets, we may see similar
trends in Crypto. So, you decide, leave a bull
or a bear in the comments below and we’ll keep
watching the market, tally the votes and share
some of your comments in next week's program.
Following
the movements of the top 2 crypto market leaders,
USDT the stablecoin’s market cap hits an 11 Billion dollar high.
This is a 136% increase
since the beginning of the year; research
from Binance indicates that USDT is a favorite
among institutional investors as an on and
off ramp to protect against market volatility.
On to some long awaited Cardano news.
Cardano ADA hit a price high not seen since
2018 on the excitement surrounding its recent
Shelley upgrade. Why is Cardano’s Shelley
generating so much buzz? One word: Staking.
That's right Cardano staking has been introduced
to the crypto world. For those who don't know
why they should care about Cardano staking,
it means Cardano ADA holders can earn rewards
for staking their coins to the network. This
is really exciting. On top of profiting from increases
in the Cardano price, ADA holders can also
generate a passive income by staking their coins.
And Cardano wasn't the only cryptocurrency outside the top 3 making a big splash this week.
The oracle network connecting blockchains
to off-blockchain data, Chainlink, hit an
all time high of $9.86. The Chainlink price was
around 30 cents at the beginning of 2019 and
today it's hovering around nine and a half dollars. That's an increase of over 300%! Amazing.
This Chainlink news and price action is no
doubt making a lot of link holders VERY happy.
And, if you are a LINK holder, every single LINK address is now in profit.
And with the prospect of Chainlink staking
on the roadmap, there is likely a lot more
room for Link to thrive. We're here for you
link marines.
How high can the chainlink price go? Let us
know your chainlink price prediction for 2020
in the comments.
And if you're looking for a wallet to hold
ANY of the cryptocurrencies mentioned today you can use Exodus.
Exodus is a cryptocurrency wallet for your desktop or mobile device.
Home to more than 100 cryptocurrency wallets and other crypto apps, with Exodus you can safely store,
send, receive and exchange your crypto. Click the link above to download Exodus today.
We’re going to wrap up this week's
episode with a bit of trivia. When did BTC’s
market cap become as big as Coca-cola and
Intel? Survey says….This week :) BTC’s
marketcap passed $208 billion dollars surpassing
Coca-cola’s and Intel’s $203 billion market
caps. Should we all be saying “Have a BTC
and a Smile” or tell everyone that it’s
got Bitcoin Inside? If you enjoyed this program
please give it a like and subscribe to the
channel for more crypto videos from Exodus.That’s
all the news that fits for this week, so until
next time.. HODL on!
