NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Will Bakkt Beat Libra to the Punch?

NewsBTC
NewsBTC
4 years ago
4 mins read
bakkt, libra

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Hi Everyone,

Writing to you this evening from the Cosmopolitan hotel in fabulous Las Vegas. Here in town for the Litecoin summit and it’s really going great so far.

Met a lot of interesting and awesome people today and there were a lot of talented speakers but the highlight for me was seeing former Congressman Ron Paul this morning saying that the US government should give up their monopoly on money and that the central bank system should be abolished.

Not sure if I believe in all of that but it was certainly surreal to see the packed conference hall giving him a stand-up ovation and to think that he was actually elected on this platform once upon a time.

As the global economic landscape continues to sway cashless, the ability to own your own wealth and to choose your own form of money seems like a right that everyone who believes in freedom and capitalism should relate to.

@MatiGreenspan – eToro, Senior Market Analyst

Today’s Highlights

  • USD Support
  • Fed interest cut tomorrow
  • Bakkt Vs Libra

Please note: All data, figures & graphs are valid as of October 29th. All trading carries risk. Please only risk what you can afford to lose.

Traditional markets

Stocks have become a bit boring of late. A few indices are toying with their all-time highest levels but volumes are pretty light right now.

With that said, the FX market hasn’t been all that volatile lately either. In fact, despite all the injections we’ve seen since the Repo ordeal 6 weeks ago, the US Dollar is remarkably stable.

In this graph, we can see a very steady upward channel that’s been in play for the better part of this year. Notice how the support we’ve just bounced off (bottom yellow line) coincides well with the 200 day moving average (blue).

What else?

Prime Minister Johnson lost his third vote for an early election yesterday. The motion was shot down in Parliament leaving us all to wonder what the most likely next steps will be.

Dozens of earning’s reports will be released in the US market. So far half of the companies in the S&P 500 have done a beautiful job undershooting their earnings estimates by a solid 2%.

But of course, the market has something else on its collective mind today as the US Federal Reserve seems set to cut their interest rates yet again tomorrow afternoon.

Crypto Volumes Retrace

The post Xi pump seems to be fading now but the after-effects are still apparent. Volumes are still strong but have paired back a bit since the day of the announcement but the market sentiment seems to be gradually improving.

Here we can see the fear and greed index over the last three months. Notice the last two dots ending up higher.

Bakkt and CME futures contracts have been performing consistently well these last few days but what seems more relevant is the volumes on bitcoin’s blockchain itself, which are once again over a daily average of $1 billion.

 

While the Asian market still seems pretty excited about Xi, it’s pretty clear that American traders don’t necessarily see China as a champion of the crypto industry. Google Trends shows that the term Blockchain is searched consistently more often than the name of the Chinese President.

What could end up exciting them however, is a new product from Bakkt that was officially announced yesterday which will focus on consumer accounts and payments.

From where I see it, the vision of Bakkt to make crypto more accessible to US consumers is not far off from what the Libra project is all about. Of course, the implementations are different but the ideas are quite similar.

The main difference is that while Libra has been shaking hands and testifying at the Congressional level, Bakkt has been calmly and confidentially communicating directly with the people who’s approval is actually required for these types of projects.

With that in mind, there’s a real possibility that Bakkt could beat Libra to the punch.

About the Author: Mati Greenspan is a Senior Market Analyst at eToro

Connect with Mati on….

eToro: http://etoro.tw/Mati
Twitter: https://twitter.com/matigreenspan
LinkedIn: https://www.linkedin.com/in/matisyahu/
Telegram: https://t.me/MatiGreenspan
Office Phone: +44-203-1500308 (ext:311)

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC 
or any of its team members. NewsBTC is neither responsible nor liable for the accuracy of 
any of the information supplied in Sponsored Stories/Press Releases such as this one.

Image by David Mark from Pixabay
Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

How to trade crypto

How To Trade Crypto

How to trade crypto – a question that resonates with many in the rapidly evolving digital asset space. Whether you’re...

Jake Simmons 1 year ago

Bitcoin Hovers Below $50k After Weekend Wipeout – Crypto Roundup, Dec 6, 2021

Ethereum shows strength as MATIC rises 7%  Global market jitters spread to crypto at the weekend, with Bitcoin falling to...

NewsBTC 3 years ago

Crypto Market Analysis: December 6, 2021

Bitcoin and ether suffered a major flash crash over the weekend, sending cryptoasset values down by some 20% at points....

NewsBTC 3 years ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cena Bitcoinu pod 80 tisíc $

Cena Bitcoinu pod 80 tisíc $. Ako čo najlepšie využiť pokles na kryptotrhu?

Nina Šefčíková 4 months ago

Dogecoin a Shiba Inu stagnujú. Oplatí sa sledovať tieto predpredaje?

Nina Šefčíková 4 months ago
how to trade Bitcoin

Learn How To Trade Bitcoin

Jake Simmons 1 year ago

Premium Sponsors

Press Releases

  • Make $8,000 a day in stable passive income easily –...

    3 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    4 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    19 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    1 day ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.