Bitcoin price drop is just a market correction, says investment expert

Investment guru feels that Bitcoin price drop is a normal correction

Nigel Green, founder and CEO of global financial advisory firm deVere, isn’t worrying about the Bitcoin price drop. In a press release obtained by BlockTelegraph, Green recently commented on the crypto market, and he feels that this is a normal correction.

Bitcoin traded on a high of US $8,507 on July 24th, but had a nearly 26% fall during the second week of August. Other cryptocurrencies followed suit, and the bearish trend continued. Crypto investors and observers are noticing this sustained bearish market.

Knowledgeable observers are analyzing reasons for the bearish crypto market. The US Securities and Exchange Commission (SEC) has delayed their decision on a proposed Bitcoin Exchange-Traded Fund (ETF). Such recent events have contributed to the trend, while there are other long-term factors like volatility.

For example, the recent hack of the South Korean crypto exchange Coinrail points to a long-term vulnerability. Hackers regularly target the servers of centralized exchanges.

Bitcoin price drop
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Image credit: Quartzla / Pixabay

The 2017 excitement about ICOs did create a significant bubble. The SEC continues to probe many blockchain start-ups. They are also investigating existing companies that may have unfairly exploited this craze.

Bitcoin networks’ energy consumption remains high, attracting negative media coverage. Scam ICOs have also dented retail crypto investors’ confidence, and continued regulatory uncertainties in several major economies add to these feelings. A spate of negative news and uncertainties could make you think that the bear market is here to stay.

Negative sentiments affect the crypto market more than the traditional market due to its size. Hence, when an investment expert like Green shrugs off the recent sell-off, it assures many retail investors.

A part of growing up

The thrust of Green’s viewpoint is that the crypto market is young, needs time to mature, and investors need to stay with the technology for the long-term.

You can intuitively identify with what Green says. We saw the dot-com bubble burst; however, the internet has become an inseparable part of our life! Blockchain and cryptocurrencies are also going through a similar phase of growing up. Bitcoin price drop and frequent crypto market volatility are signs of it, Green says.

Green has consistently held an optimistic view of digital currencies. He believes that in a digital and global world, they have value. Green has previously spoken about how governments, businesses, and regulators are acknowledging cryptocurrencies.

Current events are proving Green right. Consider the varied blockchain use cases; for example, Walmart is using it in the food supply chain, and UPS plans to improve global logistics with it.

We see the process of maturing in the blockchain crypto space already. MakerDAO and Wyre are trying to address the volatility in the crypto market. Ethereum is working on their Casper protocol for transitioning to the Proof of Stake (PoS) consensus algorithm. This algorithm has no crypto mining, requiring less energy.

Blockchain start-ups are increasingly complying with securities regulations. Indiegogo has offered their tokenized security investment instrument. Local governments are also seeing the value of blockchain; lawmakers in Wyoming have passed crypto-friendly laws.

Green’s company, deVere Group, has more than 80,000 clients in over 100 countries. They have a crypto exchange app called deVere Crypto, which lists prominent coins like Bitcoin, Ether, and Ripple.

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CoinAgenda Announces 5th Annual Global Conference

Mandalay Bay Hotel CoinAgenda Global Conference

CoinAgenda’s Three-Day Gala Will Feature Speakers, Contests

CoinAgenda has announced its fifth annual CoinAgenda Global Conference in Las Vegas, Nevada. From October 23 – 25, the event will feature 50 initial coin offerings (ICOs) and 25 public blockchain companies, along with 60 cryptocurrency experts.

With a focus on international blockchain trends, speakers will include notable personalities, such as Miko Matsumura, co-founder of Evercoin, and Olga Feldmeier, CEO of Smart Valor. They will present on digital currency trends, Bitcoin price dynamics, and other related topics. The conference will particularly emphasize growing ICOs and security token offerings (STOs).

One of the main aspects of the event is an ICO startup competition, featuring as many as 50 companies. Those interested in competing must enter before the Oct. 9 deadline, although the deadline will be cut short if the maximum number of participants is reached beforehand.

CoinAgenda ICO contestants have been responsible for more than $600 million in funding and $15 billion in market capitalization in the last two years. Any startup that has not launched its ICO, as well as any public or private blockchain below $200 million capitalization, is eligible to enter the contest.  Each contestant will give an onstage presentation of their ICO or blockchain and receive a conference booth, as well as two conference passes. Those who place in the top five spots for ICOs and the top three spots for blockchains will be awarded prizes, as well as publicity in the crypto community at large.

CoinAgenda Global Conference
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Image Credit: CoinAgenda/coinagenda.com

The Conference Hosts Speakers, Panels, and Parties

The conference’s opening day will focus on crypto exchange and blockchain incubators, as well as the current situation of international crypto regulations. Jeremy Gardner, co-founder of the Blockchain Education Network, is slated to participate in a panel on the subject of “Generation Blockchain,” as well as a fireside chat. Mike Jones, CEO of Science Blockchain, will also hold a fireside chat. Additionally, there will be various panels and talks on new crypto infrastructure models. The day will end in a cocktail party at the Moorea Beach Club.

The second day of the conference will feature presentations and panels on the growth and implementation of digital currency funds and the latest movements in blockchain investments worldwide. Enzo Villani, former managing director of strategy at NASDAQ and managing director at Transform Strategies, is scheduled to lead a panel covering the most up-to-date developments in STOs. VideoCoin founder Halsey Minor will also present his thesis on why 2019 will be the year that businesses welcome blockchain technologies in a new era of growth. The conference contest will take place that afternoon, with the day wrapping up with the “Legendary Dinner” hosted in a celebrity mansion.

On its final day, the conference’s activities focus on how to establish the skills and network to survive in the evolving regulatory environment of the industry. It will also feature 50 ICO presentations and investor panels, closing with a party at a Las Vegas mansion.

The conference has a 750-attendee limit. Tickets can be purchased on the CoinAgenda website, as well as by emailing info@coinagenda.com.

Headline 4: Three-Day CoinAgenda Conference Will Showcase Experts and Investor Opportunities

Headline 5: CoinAgenda Global Conference Is a Las Vegas Party with Learning, Investor Opportunities

Sources:

Provided press release

https://global.coinagenda.com/

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Börse Stuttgart Unveils New ICO Platform to Help Blockchain Start-ups

Stock exchange charts

Navigating the Regulatory Minefield

Blockhain-crypto start ups are here to stay, and while most of them are eager to play by the rules, they need a helping hand or two from organizations with expertise in regulatory matters. This regularity environment must walk a tightrope of clarity, best practices, and an aversion to overzealous oversight that risk throttle the industry. We’ve seen the fruits of such a beneficial environment already in Malta, which has formed the vanguard of crypto-friendly countries in Europe, and Estonia, which has designs on a “digital republic“.

However, financial and securities regulations aren’t easy to understand. Very often, start-ups interpret their offering in one way, only to find that regulators have interpreted it rather differently. Take, for instance, the dim view the US Securities and Exchange Commission (SEC), has taken of so-called utility tokens. Numerous start-ups believed their tokens did not fall under the definition of a security due to their ‘utility’ on the platform.

The SEC, following a principle of “Substance over form”, reviewed the aggressive marketing of these tokens and noticed the vast majority of people were buying the utility tokens with the expectation of a future profit. This classification from on high has led to a scramble among ICOs and a full scale swing to Security Tokens, which start-ups hope will avoid regulatory carpet bombing.

This is where Börse Stuttgart, Germany’s no. 2 stock exchange, enters the picture.

Gavel and law books
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ICOs need outside help to avoid the long arm of the SEC. Image credit: succo / Pixabay

 

An Integrated Platform

Börse Stuttgart is developing an integrated service offering for digital currencies, which, they hope, will remove the grey areas that often plague ICO sales. The company will allow blockchain start-ups to conduct their ICOs over their new platform in a transparent manner. The platform offers services in a centralized manner so that the start-ups can work with a single integrated service provider. Börse Stuttgart is also developing a secondary market for the ICO tokens sold over their platform. A secondary market are important for most blockchain-crypto projects, since brings in the much needed ‘network effect‘.

Börse Stuttgart is a well-established player in Germany with their floor-based stock exchange. Retail investors can trade in various products here — equities, securities derivatives, exchange-traded funds (ETFs), and bonds, to name a few. Founded in 1860, and based out of Stuttgart, the company lays claim to broad expertise in various kinds of trading as well as regulation, all of which will come handy for ICO token issuers who use their new ICO platform.

The company is also developing a crypto trading app, named ‘Bison’, which they plan to release in September 2018. Their new ICO platform will follow the release of Bison. Alexander Hoptner, their CEO, is upbeat about the project which sits well with their strategy of promoting digital currencies in a transparent and regulated manner.

Börse Stuttgart isn’t the only stock exchange serious about blockchain and crypto; “SIX”, the company that owns and manages Switzerland’s stock exchange, is building “SIX Digital Exchange” (SDX), an integrated market for cryptocurrencies. Increasingly, it looks like Europe is taking the lead in blockchain and cryptocurrency technology. Time will tell if other global financial powers can keep pace.

 

 

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