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Millennials are the Backbone of the Crypto Market

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Millennials are the Backbone of the Crypto Market

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The Millennial generation is likely to lead humanity into a phase of fintech as they hasten the adoption of Bitcoin. Researchers have discovered that cryptocurrency is three times more popular among members of the millennial generation than any other generation of Americans. They are increasingly choosing it as a long-term investment option.

Millennials Around the World Flock to Cryptocurrencies as Investments

A survey conducted by researchers in the United Kingdom found that about 20% of affluent Millennials have invested in cryptocurrencies. The Millennial generation is the group of people who were born between 1981 and 1996. Of those who had at least 25,000 British pounds of assets to invest, 20% of them chose cryptocurrencies as a part of their investment strategy. This is higher than the national average of 3% of people who had at least 25,000 British pounds to invest.

The Millennial Generation Invests Differently

There are many reasons why the Millennial generation invests the way it does. One reason is the high rate of return. That’s one reason why they like Bitcoin a lot. 

Over the past 10 years, only 11% of days have been losing days for Bitcoin. The rest of the days over that period of time have been positive for investors. In 2011, Bitcoin grew by 1,473%. In 2012, its value increased by 186%, and in 2013, it grew by 5,507%. In 2015, Bitcoin grew by 35%, and the return in 2016 was 125%. Those who invested in 2017 saw their holdings increase in value by 1,331%. Two years had overall losses. In 2014, the value dropped by 58%, and in 2018, it dropped by 72%. A 5% Bitcoin allocation in a portfolio with 40% bonds and 60% stocks could result in a doubling of returns over a four-year period of time.

Millennials Don’t Mind Bitcoin’s Volatility

A lot of the members of the millennial generation believe they’re unlikely to be able to retire. Because of this, they’re willing to add risky assets to their retirement portfolios. They don’t mind Bitcoin’s volatility. Since the Millennial generation is a long way from retirement, they have the time to take on risky investments. Millennials have already lived through the housing crisis, so they have seen traditionally safe investments like houses go down in value. That’s a leading reason why they’re not worried about Bitcoin’s volatility. 

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In addition, new markets like India are de-regulating cryptocurrency. This leads to more demand and increases the Bitcoin price in India. Markets like India are seeing huge spikes in millennial investors flooding the trading platforms. 

Millennials Are Comfortable With the Internet

The Millennial generation has grown up with the internet. They’re adept at paying with digital wallets and doing their banking online. Cryptocurrency is a natural investment strategy for these individuals. People ages 18 to 34 are also more familiar with Bitcoin. They understand what it is. More than twice as many Millennials say they have heard of Bitcoin. More than 59% of millennials have a positive opinion of Bitcoin.

Millennials Like New Things

Millennials like new tools and platforms. Companies will have to cater to their demand for these services. Advanced tools, such as real-time trading, will appeal to younger investors. Millennials want a smooth, fast and seamless banking experience when they go online. Several businesses are working toward that goal. The Millennial generation is the first one to have grown up in an online world.


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/millennials-are-the-backbone-of-the-crypto-market/

Blockchain

Bitcoin HODL Waves Suggest Bull Run Has Barely Started

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Analyzing Bitcoin HODL Waves from previous bull runs as led crypto YouTuber and analyst Lark Davis to the conclusion that this cycle is still in its infancy.

He added that we are just now past the first major price wave, “get ready for wave 2”.

The chart depicts three distinct price waves for every market cycle back to 2011. The current cycle shows just one wave cresting at Bitcoin’s recent all-time high of $58,250 on Feb. 21. This indicates that, if history rhymes, there could be two larger ones to come especially if corporate giants keep buying it.

Bitcoin Being Hodled

HODL Waves are a visualization pioneered by Unchained Capital which shows the cross-section of Bitcoin held in wallets grouped by the age since they last moved. The Bitcoin financial services company explained;

“By comparing the age of bitcoin sitting in addresses to the current US dollar prices, we can make some interesting conjectures about the bitcoin economy and the sentiment of HODLers.”

Glassnode has extrapolated the short-term HODL waves and overlaid them on the logarithmic scale price chart. Using these metrics it does appear that there is a lot more to go with this bull run, but there are many other on-chain and fundamental factors to consider.

One of them is them is the central bank money printing narrative which could drive wild inflation and devalue global currencies. Trillions of new dollars have been printed for stimulus purposes in the U.S. alone since the Covid-19 pandemic put the economy into shutdown mode in early 2020.

Vice President of digital asset strategy at Fundstrat Global Advisor, Leeor Shimron, compared Bitcoin to M1 money stock – the country’s basic money supply that is used as a medium of exchange. He also thinks this cycle could “get very wild” in the face of unprecedented money printing.

BTC Price Outlook

At the time of press, BTC was trading at $49,250, down from its recent weekly high of $52,580 hit in late trading on March 3 according to Tradingview.com.

Momentum is still bullish from a weekend swing low to $43,300 but the asset needs to break above resistance at $55,250 to push towards a new all-time high.

March has traditionally been a bearish month for Bitcoin and crypto markets so this move may come later in the year.

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Source: https://cryptopotato.com/bitcoin-hodl-waves-suggest-bull-run-as-barely-started/

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Blockchain

Ripple CEO files motion to dismiss SEC complaint citing ‘abuse of prosecutorial discretion’

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Ripple CEO Brad Garlinghouse has filed a motion to dismiss the SEC’s amended complaint against him, calling it “regulatory overreach.”

The exec took to Twitter to announce his position on the SEC’s charges against him and Ripple Labs Inc. by sharing a link to the letter filed on his behalf, saying that “it speaks for itself.” According to the said letter, the SEC’s allegations against Garlinghouse fail on account of a number of reasons.

The same, addressed to U.S District Court Judge Analisa Torres, claimed,

“First, the SEC fails to recognize the economic realities of Defendants’ transactions in XRP, the XRP market, and Ripple’s business, each of which exhibits none of the traditional characteristics of an investment contract.”

The motion to dismiss, filed by Cleary Gottlieb Steen and Hamilton, also commented on the SEC’s amended complaint, while also expanding on the regulatory agency personally targeting Garlinghouse for the alleged violation of securities laws.

“Straining to impose personal liability on an executive like Mr. Garlinghouse for simply doing his job where he reasonably understood that his actions complied with the law represents an abuse of prosecutorial discretion that has sent a dangerous signal to entrepreneurs and will chill innovation.”

Garlinghouse was reported to have sold over 60% of his XRP holdings for approximately $159 million at the time of those transactions, leaving him with 200 million XRP tokens. While holding 200 million XRP tokens is a considerably long position, some members of the community feel that Garlinghouse selling a majority of his XRP is disingenuous on his part.

In fact, Ripple’s lawyers have argued that the SEC’s allegations with respect to Garlinghouse’s XRP sales are “vague,” with no particular reference to any of these transactions occurring within the United States.

“The truth is that the vast majority of Mr. Garlinghouse’s XRP sales were made on foreign exchanges, and those transactions do not and cannot violate the federal securities laws,” they asserted.

XRP was trading at $0.4660 at press time, down by over 25% from a high of $0.6338 in February.


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Source: https://ambcrypto.com/ripple-ceo-files-motion-to-dismiss-sec-complaint-citing-abuse-of-prosecutorial-discretion

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Blockchain

OKEx Lists Chiliz, Enables CHZ/USDT and CHZ/BTC Spot Trading

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The blockchain-based fan engagement platform Socios.com received a huge boost after its native asset Chiliz (CHZ) was listed on OKEx – a leading global crypto exchange and derivatives trading platform. The popular digital currency for the sporting and entertainment industries, CHZ became available for spot trading against USDT and BTC at 10 AM UTC on March 3, 2021.

The CHZ blockchain’s Socios.com allows sporting teams and clubs to create Fan Tokens to connect and engage with their fans. These Fan Tokens will act as membership cards, providing its holders with the privilege to participate in various decision-making processes of their favorite teams. In addition, fan token holders will also be eligible for exclusive access to team events, merchandise and other rewards. Socios.com has already partnered with some of the biggest sporting teams and clubs including the likes of AC Milan, FC Barcelona, Juventus, UFC and more.

According to Chiliz, their Fan Token model has also helped sporting organizations unlock new revenue streams, enabling them to overcome losses in the form of poor ticket sales, lost sponsorship deals etc., during the pandemic.

Acknowledging the role of Chiliz in promoting blockchain technology, CEO of OKEx Jay Hao said, “Chiliz has uncovered another key use case for blockchain technology showing how the sports and entertainment industries can adapt to an increasingly digital world and create new revenue streams beyond traditional sources. As more and more fans begin to engage with clubs and teams through fan tokens, the use of cryptocurrencies becomes continuously more mainstream. OKEx couldn’t be happier to support this important initiative.”

Celebrating the new listing, OKEx is distributing $150,000 worth of Fan Tokens to the CHZ community members through lucky draw. Users depositing or trading CHZ on OKEx until March 10, 2021, will be eligible for the giveaway program. Up to $10,000 worth of Fan Tokens is earmarked for referral rewards.

OKEx will be activating CHZ withdrawals on the platform starting 10 AM UTC on March 4, 2021.

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Source: https://www.newsbtc.com/news/company/okex-lists-chiliz-enables-chz-usdt-and-chz-btc-spot-trading/

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