How USDT Burn Impacts Bitcoin | Covid-19 and Cryptocurrency | Sharering


Hey, everybody, Maddie here with altcoin Buzz, happy Thursday. Hope you’re having a great one. We’re looking today on news BTC dot com. And historically at the traditional pattern that is where we’ve seen major burns of Teather, subsequent bitcoin crashes have occurred. We’ll examine whether or not that’s likely to occur again. We’ll also discuss that sentiment on bitcoin as dot com. They suggest that a downside risk remains likely. Despite this kind of buy the dip sentiment that we’re all feeling right now. Then take a look. On an extra at this piece, Cauvin 19 outbreak and the crypto market, a brief historical look at what’s happened traditionally in times of crisis like this one. And I’m talking about the economic crisis and how bitcoin is different. Some of the arguments you’re probably familiar with, a couple of them, however, are novel and worth sharing. Speaking of sharing, we’re talking about sharing an article by Deepika here on altcoin Buzzacott IO Blockchain for the sharing economy. And finally, we’ll do a quick follow up on the exchange that we mentioned the other day. Storm gain has been crowned the cryptocurrency trading and exchange platform of the year this unknown t.x dot com. We’ll take a look at those stories. We’ll first examine the market. However, on market cap, dot com, we are at two hundred five point five billion dollars. That’s up a little bit since yesterday. As you can see, things are up a percentage point or two or three in some instances. Bitcoin up 1.5, 8 percent in the last 24 hours above 7 K currently. So that’s 7 K has now become support right now seven thousand one hundred and three dollars with the dominance of sixty-three point four percent. Here now on news BTC. Com. Nearly every past teather burn preceded a bitcoin crash and it just happened again. So the fourth-largest cryptocurrency by market cap, which is a stable coin of course. Teather and whose ticker is U.S.D.A., has become increasingly important in its support role for the cryptocurrency market. So much so that the other day data shared by unfolded suggested that tethers market capitalization hit seven billion dollars. Or, to put it in another perspective, 3.4 percent of the entire industries value will alert is a Twitter tracking bot and it announced yesterday on the 22nd of April again at the whale. Underscore or alert 220 million U.S. d.t 222 10 3 0 1 USD burned at Teather Treasury. Bitcoin has not reacted yet. However, bloodstreams Zach Vogel noted that every previous U.S. team burn, according to Weil Alert has coincided, quote, at or near pivotal points in the market. And his chart indicated the pivotal points have preceded drops like when U.S.D.A. was burned around February 20th near the top. And just weeks prior to the drop to $3700 or when it was burned in November last year prior to the 35 percent drop to seven thousand dollars. So keep that variable of the Teather burn in mind as we examine this piece on glaring downside risks makes bitcoin correction likely despite quote by the dip sentiment. So as it mentions in the article here, yes, we are above 7k once again, but only just barely. And there’s not really any breakup momentum that we’re seeing. The cryptocurrency market rebounded as U.S. stocks and oil broke their two-day losing streak. However, they’re still in rough shape. And the main argument here is that oil’s collapse is a big warning sign. So Karen Ward, the chief marketing strategist at JP Morgan Asset Management, noted that investors are turning very optimistic about the stock market recovery. But this may be unwarranted as these rallies come on the back of central bank support rather than concrete fundamentals. In other words, they are the direct result of the stimulus injection. And that’s all it was ever meant to be. It was meant to be a stimulus, to temporarily rally things and provide support. But really at a fundamental underlying level, while people still aren’t using oil, people are still, for the most part, stuck at home. People still aren’t working or they’re not participating in the job market, in the labour force. And so what real value can that money have? It’s just a temporary bandage. Meanwhile, and as I mentioned, the crashing U.S. oil prices below zero is an alarm showing how uncertain markets, including Bitcoin, can be as more than half of the world goes into lockdown to slow the speed of the Cauvin pandemic. The corporate earnings come out of the US that has come out of the U.S. are poor and therefore do not justify the gains. Ward, once again of JP Morgan said the following, quote, The second quarter is going to be awful for earnings. We think the market is still a little bit optimistic. That’s the thing that concerns me. You know, I’ve shared my opinion here in the past. I think to a certain extent we have to continue monitoring and be health-conscious and be safe. In response to Cauvin. But on another level, there has to be a time limit. There has to be kind of a checkpoint that we hit and at which we reassess our strategy, because if the economic collapse, whether it’s just for myself in Canada, for the United States, for North America, Europe or globally, the implications of that. My opinion and I think in objective truth are much, much, much, much worse than this. Coronavirus pandemic, whose mortality rate seems to be much less than was originally anticipated. Any death that can be prevented is one that we should seek to prevent that. That’s going to be very important in terms of our mission here. That’s true. That being said, there are many, many, many more deaths that could be made possible. If society utterly collapses. And so this is something that we have to keep in mind. But getting back to Bitcoin for just a second, many analysts are suggesting that nine thousand dollars are a reasonable short term target. We’ve been fluctuating just below K, just above 7 K, back and forth, back and forth. Resistance becomes support and vice versa. But we’re not really improving much. We’re not really blazing any new trails. However, at $9000, we would be able to break out of our most recent trading zones and some people are suggesting that is possible. Take a look at the analytics in the rest of this article for more information. Speaking about cobia. However, let’s take a look at the relationship to Coronavirus that it has with Bitcoin and cryptocurrency here on extra com. I’ve used the term many times, but we are indeed dealing with a black swan event in terms of this coronavirus. First of all, there’s very little at a literal level that we know about it in terms of its health impact. We don’t know the nature of the virus all that well. That is why it is novel, of course, and we’ve seen a lot of examples of how utterly unprepared we were for this disruption. I mean, it always strikes me as quite amazing to see just how fragile some of these major massive international corporations are, where, you know, if they can’t bring in revenue for perhaps a month or so or even a couple of weeks, I mean, they just get devastated by that. It’s shocking to me. And the same goes for people, I think the same in a microcosmic Conways, same for individuals that unfortunately through perhaps sometimes no fault of their own. But in some cases, it is their fault. People don’t prepare. People don’t have a rainy day fund. They don’t save. And I think we’re seen with our habits, with our 21st century, high consumption, highly indebted habits, just how fragile the system truly is. Well, there is an argument that Bitcoin does have an outsized role to play in readjusting and recalibrating things. Of course, outbreaks and epidemics. As this article describes, have occurred in the past. But, you know, in that sense, people always looked in crises to things like gold. And did you know that during the Great Depression, President Franklin D. Roosevelt actually banned the ownership of gold, which in my opinion is an astoundingly tyrannical move? When people were out of work, they had no jobs. They had no means by which to make a living. Fiat currencies and the relatively newly established Federal Reserve were failing. So people turned to gold. They put their trust and their confidence in gold and it was banned outright. I mean, that to me is just criminal. In my opinion. But, you know, even if you had gold back in those times, there were still the matters of authenticating it, the logistics of transporting it, all that kind of thing. Know, we didn’t have a world wide web, we didn’t have an Internet, we didn’t have the digital infrastructure that we now do in the 21st century. And that’s why people love Bitcoin. Put simply, it represents freedom and it totally defies manipulation. So different parties value cryptocurrencies and bitcoin in particular for various reasons. We all know that. But, you know, right now, I don’t think it has necessarily acted as that go to a trustworthy safe haven in terms of crisis. But it is gaining some traction and some credibility during these uncertain times, certainly more than the U.S. dollar or the Federal Reserve. And don’t forget, there are those that are calling for much higher bitcoin prices, really even in the next couple of years, such as Tim Draper, for example, who predicted 250000 by 2022 or 2023. And you have others that have even more optimistic price projections. This is a great article. I would encourage you to check it out in full. But as it concludes here, as the world progresses and fights back against the pandemic, Bitcoin’s value and acceptance will only grow from routine payments and daily coffees at Starbucks too much more sophisticated uses yet to be imagined and created by necessity. Being the mother of invention. Absolutely. Bitcoin has provided a new financial canvas with its users having painted an impressive first layer. Now the time has come to add more paint life and colour to the painting. So a true masterpiece emerges, and the full picture of endless possibility is undeniable to all. We’re now looking at sharing blockchain for the sharing economy. And this article on altcoin Buzzacott. Oh by Deepika with partnerships in multiple sectors of the sharing economy. Sharing is well on its way to being the bridge among stakeholders. So the term sharing economy, if you haven’t really heard about that before, it was an innovative buzzword about a decade ago and experts are now predicting that the sharing economy will grow to over three hundred five billion dollars in the next five years. And this is because people have shown a robust appetite for. Most of the services that such an economy facilitates, especially in travel, hospitality, dining, insurance, car rentals, automotive and more. You know, I myself was travelling for the last couple of years quite a bit for work, but travelling regionally. So not really long distances. And I would often make use of in particular of two services that tie right into the sharing economy. So no one housing. I was basically living out of an air BMB for over a year and my kind of swapped around a little bit. But eventually, you get a little bit cosier with one particular owner and so you settle in for something more long term. So that was as a client, I guess I would say. And then as a vendor of my services, I would go back and forth between cities here in eastern Canada and I would sell my vacant car seat. So I have a sedan, not a big car or a big vehicle, but I would always sell up car seats, my empty car seats, usually three at a time on a multi-hour ride. And it’s just a quick way to number one facilitates people. Sometimes students, people travelling between cities. But it also puts a nice chunk of pocket change into your wallet. So I think it’s it’s a win-win. And more and more, we’re talking about how this is the 21st century, the digital century. More and more we’re seeing that these options are readily available and all around us. So people naturally are availing themselves of these opportunities. There are some roadblocks in this space that need to be considered. So the current shared economic model stands fragmented and disjointed, unfortunately. And on top of that, there are inherent flaws in the existing tech framework on which they operate, leading to issues like privacy and data ownership. Price discrimination, racial bias is, unfortunately, a problem. Security concerns, monopoly and middleman costs. These are all concerns that have yet to be optimised in this sharing economy. Space sharing, however, aims to address these issues and level the playing field for everyone by running the shared economy in a truly decentralized, blockchain-powered ecosystem. So sharing is using the power of distributed ledger technology and it will bring the gap bridged, rather the gap between the stakeholders of the sharing economy. So to date, sharing has announced the addition of the following services to its ecosystem accommodation, tours and activities, flights, insurance, different products including rather DGI Drones and Australia luggage company, car rental services, tech and Research, Automotive Charity and Krypto, including Nano Tron Credits, cam- Investment, Double Peak and Coin Street Partner Sharing also employs an El P.O.S. consensus that’s a least proof of stake, consensus mechanism and sharing. Enjoy support from M.A.D. And their stakeholders. The node operators and stakeholders received 50 percent of the ecosystem revenue to support the network. And I’m playing here a brief explainer video that talks all about sharing what it is they’re all about. Guys, if you want to read more about the duel token mechanism S H R and S H R P, you can check that out. There’s information as well about one idea the power of one i_d_ is that basically your ID is in your control and you can control whether your ID data where it goes rather and how it stores your I.D. data as well. There’s information here about quick rentals, express check-ins, even visa information and of course details about the master nodes and the token omics as well as the distribution. So for all of this and more for interesting information about sharing, including their major partnerships on the rise and checkout speakers article in full, of course, we will link to this in the description below. Of course, guys, none of this is financial advice. We’re neither encouraging you nor discouraging you from any kind of investment in sharing. However, they are a very intriguing player in this cryptocurrency space and we’re simply providing you with the information, hopefully objectively. And finally, for today on Nulty X, Storm Gane, which we talked about yesterday, really for its very strong infrastructure and characteristics related to other exchanges that were failing in those regards. Will Storm Gain has been crowned cryptocurrency trading and exchange platform of the year. Check out the full article here. Unknow t.x dot com. We are plum out of time. But just as a quick follow up to yesterday’s content, I wanted to mention this before signing off, but that about wraps it up for today, everybody. To be sure, you’re following us on all the regular social media channels and keep checking back into altcoin based on I owe for all the latest guys. Go ahead. Like subscribe, share and hit the belt, receive notifications if you’ve enjoyed today’s video. Best of luck if you choose to invest on this Thursday. But have a great one, everybody. And hey, as always, we do see you again soon. In our next take care.


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