JP Morgan Warns Bitcoin (BTC) and Crypto Market Has Surged Above ‘Intrinsic Value’ | The Daily Hodl We use cookies to give you the best online experience possible. By agreeing you accept the use of cookies in accordance with our cookie policy. I Accept Let’s block ads! (Why?) Source link

According to a recent report by JPMorgan, Bitcoin’s intrinsic value can be defined using the concept of cost of production. The cost of production in the case of Bitcoin is the mining cost. #had3 text-align: center; display:none; @media(max-width: 768px) #had3 display: block!important; If that analogy is used for gold, the cost of production of gold is above $1000 per ounce. …

By CCN: Bernhard Schroeder, an educational director of entrepreneur programs at San Diego State, implores entrepreneurs and investors to focus on the blockchain, rather than Bitcoin. In a new editorial today in Forbes. Schroeder classifies Bitcoin as a speculative investment which may or may not work out long-term, but lauds the merits of blockchain, which he describes as “a serious …

Some few weeks back, Daniel Daianu, an official from the southern-central European country’s national bank, made comments to the effect that cryptocurrencies are not a possible replacement for the nation’s fiat. He went on ahead to stress that crypto is not truly a currency and that the banking institutions role as far as financial matters were concerned was established and …

By CCN: Mike Novogratz, the billionaire CEO of Galaxy Capital and a former hedge fund manager at Fortress Investment Group, believes alternative cryptocurrencies, or altcoins, will be outperformed by bitcoin in the bull market. Not this time. Market getting smarter. $btc will outperform. — Michael Novogratz (@novogratz) May 19, 2019 The statement of Novogratz comes after the bitcoin price risen …

London-based global funds network Calastone announced that it switched its entire system for fund trade clearing services to its blockchain Distributed Market Infrastructure (DMI) in a press release published on May 20. Per the release, the migration of the company’s over 1,800 customers over 41 markets “represents the largest community of global financial services organisations connecting and transacting via distributed …

Weekly trading volume for the world’s second largest cryptocurrency by market value, Ethereum (ETH), reached its highest notional value in over 17-months on the popular exchange Coinbase. In Coinbase’s two most popular ETH markets, ETH/BTC and ETH/USD, a combined total of 3,675,570 units of ETH changed hands from May 13 to May 19, which at current market prices ($246) has …

The market has met Monero with an overall positive outlook. This is why the price predictions for Monero are always indicating some good news. The currency is currently trading at eighty-five dollars ($85). Monero XMR price chart created with Trading View Monero is pacing towards one hundred dollars ($100) and has been fluctuating between eighty – ninety dollars ($80 – …

Ripple CEO Brad Garlinghouse has argued that the biggest banks have a strong reason to embrace crypto and blockchain innovation, despite the apparent threat it poses to their current oligopoly. The CEO made his remarks during an interview on the Recode Decode podcast with Kara Swisher on May 20. Throughout the interview, Garlinghouse underscored that Ripple’s approach is to work …

By CCN: If you thought bitcoin’s recovery to $8,000 was impressive, take a look at these charts below. While most traders are focused on bitcoin’s price in dollars, the recent surge has propelled bitcoin to all-time highs in Argentina and Sudan’s local currencies. Even if you bought the top of 2017’s bitcoin bubble in Argentine pesos, you’d be in profit …