Bloomberg Has Just Named Cryptocurrency Winners. Is Your Favorite Coin Among Them?


Bloomberg Has Just Named Cryptocurrency Winners. Is Your Favorite Coin Among Them?
Contents

Bloomberg, the leading financial outlet, has just named the winners and the losers of crypto. Unsurprisingly, Bitcoin ends up on the winning side.

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Bitcoin Price Analysis for 2019: Will BTC Price Get Back to $20,000?

Bitcoin Price Analysis for 2019: Will BTC Price Get Back to $20,000?

All hail the king

Bitcoin, EOS and Binance Coin are the only top coins that consistently show “strong price action,” the article states. The crypto king obviously rules the roost, but EOS and BNB also fared incredibly well given that these are the only two coins that managed to hit a new ATH since December 2017. To top that off, BNB is so far the best-performing cryptocurrency of 2019.   

When it comes to the new kids on the block, Bitcoin SV, the infamous Bitcoin Cash fork, is the first obvious option. Despite a slew of controversies that are linked to its notorious founder Craig Wright, it recently experienced two enormous pumps that allowed it to land on the CMC top 10 list.  

Basic Attention Token has also displayed great performance as the Brave browser is growing its user base.   

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Weiss Ratings: Binance Coin Is the New Bitcoin

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Major disappointments  

Meanwhile, Ripple’s XRP and Stellar Lumens were named the biggest losers of this year since they failed to maintain their market capitalization in BTC during the massive 2019 rally. While these coins hold a lot of promise for improving cross-border payments, their gains have been dwarfed by other top ten coins.

However, when it comes to XRP, things are about to change in the short-term given that the coin is currently very strong technically.

December 2018 still haunts Ethereum, Litecoin, and Tron – when BTC reached its bottom, these coins plunged even lower.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  


Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  
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Social media juggernaut Facebook is about to launch its Libra cryptocurrency, which, as expected, is currently on everyone’s lips.

According to a recent CNBC report, financial analysts appear to be on the same page when it comes to bullish Facebook predictions.   

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Facebook Could Rake in $19 Bln After Rolling Out Its Cryptocurrency: Barclays

Facebook Could Rake in $19 Bln After Rolling Out Its Cryptocurrency: Barclays

The talk of the town

There is a schism in the cryptocurrency community concerning Facebook’s foray into crypto. While some think that Facebook undermines Satoshi Nakamoto’s vision of a decentralized cryptocurrency, prominent influencers, including Mike Novogratz and Anthony Pompliano, look at the bright side.

On the flip side, major Wall Street players seem to agree that Facebook’s stock will see plenty of love once the company unveils its much-talked-about crypto project.

SunTrust, MoffettNathanson, Bank of America stick with a “buy” rating on Facebook.

MoffettNathanson goes as far as claiming that the Mark Zuckerberg-led company aims to become the biggest e-commerce platform on the planet.

We believe a Facebook cryptocurrency-based payments system could be especially useful in countries with high inflation/unstable banking systems and for cross-country remittances. So, Facebook’s commerce ambitions do not appear to be limited to developed markets. Rather, Facebook has its eyes set on becoming the world’s leading ecommerce platform as well.”

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Not the right company?  

As reported by U.Today, Facebook joined forces with VISA, Paypal, and a slew of other startups that became part of the Libra consortium for a whopping $10 mln fee.

The company itself remains radio silent about its crypto ambitions, but there have been countless reports on that topic since December.

We are about to see a fiat-pegged stablecoin that will be integrated into Facebook, Instagram, and WhatsApp.

After being plagued with huge data scandals, Facebook will probably have a hard time convincing regulators to green-light its new cryptocurrency. Hence, it might be a promising idea, but not the right company to pull it off.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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