Analysis Breaking

Bitcoin (BTC) above $ 5,500. What did the market react to?

Another takeoff of the Corn again discourages the community. Again there are no fundamental factors, as if. Specialists in technical analysis quickly juggle their ingenious figures and graphics and nod importantly – Yes, they say, such levels of support should be! But behind this, too, is confusion. Are there really no fundamental factors?

The exchanges play their game

The obvious trend is the growing amount of IEO. Exchanges massively use this winning format. One Chinese Bibox launched three projects yesterday:

  • The Force Protocol (FOR), hardcap $ 1 M;
  • Ludos (LUD), $ 0.5 M;
  • X-Block (IX), $ 1 M.

The total cap of $ 2.5 M is a modest, but really attainable and justified amount.

How can this affect the Bitcoin rates? Obviously, all new tokens immediately are listed. And the first trading pair for them is BTC. Here is the answer!

It is noteworthy that the BIX token itself does not show growth, but a fall.

Another way

The second growth factor for bitcoin and cryptomarket in general is adaptation. And here, too, exchanges said their word. In any case, one exchange – Coinbase – constantly makes efforts in this direction. Coinstelegram has already reported on an innovative Coinbase solution – the release of a Visa debit card with the option to pay directly from the Coinbase account. Now Coinbase has agreed with Amazon about paying for purchases from its accounts. This is done using the browser extension proposed by the Moon startup.

The extension also allows you to pay from wallets that support Lightning Network, a Layer 2 protocol that runs on the Bitcoin blockchain above all. It was designed for bitcoin scalability. It is noteworthy that Amazon does not deal with crypto. This is Moon that provides fiat money to the e-commerce giant. CEO Moon Ken Kruger declares:

– There’s no direct merchant integration. We’re integrating with the Visa and Mastercard networks and we get a cut of the interchange fees that merchants pay every time they receive a credit card transaction.

According to Ken Kruger, by 2020, all trading platforms will be able to use the opportunity to pay in crypto using Lightning Network.

Just these two positive news would be enough for a significant takeoff of the Corn. Perhaps the take-off will continue, again by 20%, like on April, 2?

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