Cryptocurrencies Market Continuously Making Gains

Market continues to climb upwards as Bitcoin (BTC) prices brushes $9,000 prices earlier today in the trading floor.

Trading at around $8,977 earlier, Bitcoin has broken $9,000 price levels almost 2 percent over a 24 hour period with market dominance at around 38.4 %, lower than the monthly high of 44%.

Ethereum (ETH) on the other hand is trading at around $637 and is up 5% over a 24 hour period.

Other coins are also experiencing positive trend. Bitcoin Cash (BCH) and IOTA are up 9% and 10% respectively. BCH is trading at $1,240 price level and IOTA around $2.08 at press time.

The total market capitalization in nearing $400 billion which is currently at around $397 Billion right now, it is expected to reach or exceed the same market capitalization size of early March of this year.

Former JPMorgan Banker Predicts Crypto Market Will Get Much Bigger

A former JPMorgan Banker, Daniel Masters, predicts that the current cryptocurrency market will get much bigger to what is it today.

He explained the past 5 years resides in a “regulatory sandbox” environment with the size of only $1 billion to $10 billion, a size experimental in scope compared to the main financial system.

However, now that the market size continuously surge towards $1 Trillion market capitalization and all the crypto-fueled headlines, regulators are taking notice.

Some are concerned that cryptocurrencies might create a “leakage” in the fractional reserve monetary system which is denied, at least for the time period.

IMF Chief Christine Lagarde shares the same sentiment as is wrote in her blog-post that cryptocurrencies pose no immediate danger to the economy.

Linkedln’s Co-Founder Eric Ly: Crypto Ad Ban Temporary

Eric Ly, a Chinese-American Investor and businessman and co-founder of LinkedIn said in an interview that the ban of advertisement on cryptocurrency by dot com giants such as Facebook, Google and Twitter are just temporary.

It is just an initial reaction to protect their companies from Securities and Exchange Commission (SEC) scrutiny.

He further added that in the advertising business it is more of an advantage to support as many as domains possible.

He believes that there will come a time that cryptocurrency advertisements will be re-permitted on these platforms.

Eric Ly, is said to be launching a reputation system for Initial Coin Offering to help people informed decisions in participating in such investment.

Before Co-founding LinkedIn with his Stanford classmate and other colleagues in 2002, he has work in prominent companies such as IBM and NeXT.

Blockchain Technology The Next Big Thing According To Research

In a research conducted for BTL group by research firm Intrinsic Insights confirms that majority of technology professionals agrees that Blockchain technology will be transformative.

Most of those who participated in the research agree that problems on cost, data security and protection against cyber threats can be address cost-effectively using Blockchain technology solutions.

87% of technology professional remains convinced that this technology is the best way moving forward.

They even place this technology as the same level as the internet on terms how it could influence technology and innovation in the near future.

More than Half Visa, Mastercard And Unionpay Users Have Purchased Crypto

A world payment service provider, Worldcore, conducted a study to determine the willingness of people to deal with digital currencies with the help of Bank Cards.

The study comprised of 10,000 individual coming from 47 different countries.

Data showed that 89% of the respondents know about cryptocurrencies and a majority of them made a purchase of cryptocurrency at least once within the last 12 months.

While the surveys shows that there is a huge potential of customers that might use their card to purchases cryptocurrencies majority of the leading banks have prohibited the use of its customers to use them to buy cryptocurrencies heeding the advice of regulators.

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