Will Facebook’s Mark Zuckerberg Kill or Save Bitcoin (The Goat)? Anndy Lian thinks “We might really see a pro-longed bull run.”

Will Facebook’s Mark Zuckerberg Kill or Save Bitcoin (The Goat)? Anndy Lian thinks “We might really see a pro-longed bull run.”

Thanks for capturing my comments on Twitter. Personally, I think this post from Mark Zuckerberg, CEO of Facebook is a hint to us that he is open to having bitcoin on the balance sheet. As for ditching his stocks, well that would not happen. If he joins Twitter, Square, PayPal, Tesla and all in accumulating bitcoins with his $20 billion of cash, we might really see a pro-longed bull run.

 

Will Facebook’s Mark Zuckerberg Kill or Save Bitcoin (The Goat)?

Perhaps tired of the likes of Elon Musk and Mark Cuban dominating the crypto press, Facebook supremo Mark Zuckerberg has emerged from the shadows with a headline-grabbing move of his own – naming his new pet goat after the world’s biggest cryptoasset: bitcoin (BTC).

Bitcoin the Goat has become the talk of the net after Zuckerberg posted a photo of the animal frolicking in what appeared to be a hay-lined barn, with a playmate named Max, on his Facebook page.

Will Facebook's Mark Zuckerberg Kill or Save Bitcoin (The Goat)? 102
Source: facebook.com

The BTC community has been debating the significance of the goat and its moniker. On Twitter, Madelon Vos, a Dutch columnist and bitcoiner, indulged in some wordplay, quipping that the secret message behind the naming was that Bitcoin Max(imalists) are GOATs (greatest of all time). In fact, a number of other Bitcoin fans also very similar puns – a welcome distraction, perhaps, to the token’s somewhat erratic slide below the USD 55,000 mark in recent hours.

Crypto advisor and investor Anndy Lian was another to jump on the Bitcoin Maxi joke bandwagon, but also asked if the choice of name indicated that Zuckerberg was prepared to abandon stock investment in favor of a crypto portfolio.

Another crypto enthusiast, the CEO and co-founder of CoinCorner Danny Scott, asked if Zukerberg’s Bitcoin love meant that he had fallen out of love with Libra, his firm’s stablecoin project now known as Diem.

Among the mirth and excitement, a few sober souls clamored to make themselves heard. Bitcoin trader and crypto tweeter @BitBitCrypto appealed for reason, writing:

“Zuckerberg knows about bitcoin and it’s not on Facebook’s balance sheet yet. Instead, he named his goat Bitcoin. Guys? I’m not sure this is a market buy signal.”

But such voices of reason were not to be given much airtime today, with Francis Pouliot, the CEO and Founder of Bull Bitcoin, replying jestfully:

“Why would [Zuckerberg] want to put it on Facebook’s balance sheet instead of suppressing the price long enough to stash up like an emperor?”

The timing of Zuckerberg’s post suggests that he may have been paying close attention to Cryptonews.com, which late last month outlined three compelling reasons why his firm should take up a position in bitcoin.

But there was a macabre twist to all this goat-themed fun – as posters with good memories recalled the bizarre tale of how Zuckerberg once killed a goat he owned…and then served it up to the Twitter boss Jack Dorsey.

Back in 2019, Rolling Stone carried an interview with Dorsey, where the latter explained that Zuckerberg had killed a goat that he had raised “probably with a stun gun and a knife,” before sending it to be butchered.

“Evidently in Palo Alto, there’s a rule or regulation that you can have six livestock on any lot of land, so he had six goats at the time,” Dorsey was quoted as saying.

The meat from the slain goat was then put in the oven, but didn’t quite come out as planned.

Dorsey continued:

“We go in the dining room. He puts the goat down. It was cold. That was memorable. I don’t know if it went back in the oven. I just ate my salad.”

Will Zuck kill Bitcoin? Will he eat it for lunch? Or will Bitcoin The Cryptocurrency appear on the balance sheet of Facebook? Stay tuned to Cryptonews.com to find out!

 

Original Source: https://cryptonews.com/news/will-facebook-s-mark-zuckerberg-kill-or-save-bitcoin-the-goa-10252.htm

 

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Bitcoin’s Correlation with Altcoins is Declining Again. Anndy Lian said “Its temporary.”

Bitcoin’s Correlation with Altcoins is Declining Again. Anndy Lian said “Its temporary.”

Data reveals that certain bigger altcoins (e.g. BNB, XRP, ADA, DOGE, and also ETH to a lesser extent) have become markedly less correlated with BTC over recent months.

The bull market changes the correlated relationship between some altcoins and Bitcoin. It has not significantly changed it though. What we are seeing now is an overhyped and oversubscribed market. There is an overflow in liquidity. Community members and supporters are buying some of the altcoins thinking that it will give them 10-20X ROI. They also think that Bitcoin has hit its maximum price level during this period. Therefore moving their investment into altcoins. And that is why we are seemingly seeing less correlation. But if you watch the market closely, whenever Bitcoin is down, they are all down too.

This recent decline in correlations is temporary. Bitcoin is still the big brother with slightly over $1 trillion in market cap. Bitcoin also takes up more than half of the entire crypto-verse. I would expect Bitcoin to continue taking the lead. If big brother is down, all will be down. We can see this more impactfully when we hit bearish like situations.

In the shorter term, especially in this bull market, this divergence is good for traders and investors. Retail investors are gaining more. Social traders are also getting more. Professional investors are getting even more.

In the longer term, if the top few altcoins can continue to generate out good results in their token price and real business value that is generating good revenue and profits, it is still good for everyone.

Personally, I still prefer Bitcoin to be the poster boy. We are still early in this crypto industry. Any failure will be glaring. Altcoins diverging from the Bitcoin trend may not be convincing enough especially so to the whales and institutional investors who still prefer Bitcoin.

Lastly, I would like to thank CryptoNews and Simon Chandler for quoting me in the article.

View the original article at https://cryptonews.com/exclusives/bitcoin-s-correlation-with-altcoins-is-declining-again-what-10131.htm or on Google News.

 

Bitcoin’s Correlation with Altcoins is Declining Again. What Does it Mean?

Bitcoin (BTC) has long been accustomed to being the dominant cryptoasset, yet recently its share of the overall crypto market capitalization has declined. From standing at around 70% at the start of the year, it has since fallen below 50%, highlighting how other cryptoassets are increasingly starting to take a bigger share of recent gains.

The logical extension of this decline in dominance is that correlations between bitcoin and other coins have also begun to subside. As far back as a year ago, pretty much all the leading cryptoassets had a correlation with BTC of 0.9 and above (1 being the maximum), but in recent weeks this figure has sunk below 0.3 for many of the top-ten cryptos.

Opinion among analysts regarding this decline is mixed. While some claim it’s the temporary result of an expansionary bull market, others say that declining correlations represent a fundamental shift in the industry, as other coins beyond BTC increasingly prove their value propositions to investors.

Been there, done that

If you rewind to the end of April 2020, ethereum (ETH)XRPdogecoin (DOGE), and cardano (ADA) were all heavily correlated with bitcoin, at ratios of 0.95, 0.92, 0.91 and 0.95, respectively. Basically, whenever bitcoin rose or fell in price they all did the same, with their movements arguably little more than an expression of bitcoin’s performance.

As the graph below indicates, things began to change in the second half of the year.

There was a gradual subsidence up until July/August, when bitcoin (and to a lesser extent, ethereum) began rising in price, leaving many altcoins behind. Despite a recovery in correlations in October, things began to drop again from November, when bitcoin’s bull run really began picking up momentum.

Again, there was a partial recovery leading into January of this year, but correlations have been falling quite heavily since February. This is precisely when numerous altcoins began making up for lost time, rising in price as many bullish investors looked for the next big thing (now that BTC may seem a little expensive).

“The weakening correlation between major altcoins and bitcoin in a bull market is not new. As ETH and top altcoins rally during bullish spells, they often post higher returns compared to BTC, which in turn causes the correlation to drop,” said Robbie Liu, a market analyst at OKEx Insights.

Liu noted that pretty much the same phenomenon was observed during the 2017–2018 bull run. “The most notable example was in January 2018, when the correlation coefficient between BTC and ETH fell from above 0.8 to a negative value,” he told Cryptonews.com.

Nearly every analyst agrees that the drop in correlations is largely the product of the current bull market.

“In the 2017 bull market, bitcoin led the pack early on, but as investors gained confidence in the longevity of the boom, they increasingly looked to invest in smaller cryptos, which started to push those prices up faster than bitcoin’s. It’s the same story again in 2021,” said Glen Goodman, a cryptoasset analyst and author of The Crypto Trader.

Is it different this time?

Opinion is split on whether this drop in correlation is permanent or temporary.

“Market participants are learning that many cryptocurrencies offer different value propositions. This is becoming more evident as we begin to see development in the space highlighting these differences,” said Joel Kruger, a trader and strategist at LMAX.

However, for other analysts, ‘value proposition’ refers mostly to the potential for a quick buck.

“What we are seeing now is an overhyped and oversubscribed market. There is an overflow in liquidity. Community members and supporters are buying some of the altcoins thinking that it will give them 10-20x [return on investment],” said crypto advisor and investor Anndy Lian, adding that many investors likely believe that BTC has hit its maximum price level for the current period.

Of course, the truth often lies somewhere in the middle. For Quantum Economics analyst Lou Kerner, the overexuberance of the current bull market is a big factor in rising altcoins, but it certainly isn’t the only one.

“The other factor at work is some projects are scaling rapidly (e.g. UniswapPolkadotBinance) creating significant value, bringing down bitcoin’s dominance,” he told Cryptonews.com.

What this means is that, while certain fundamental shifts have taken place, we may also expect a return to greater bitcoin dominance in the event of a more bearish market.

“The rapid growth of DeFi in the past year gives ETH better fundamentals than before,” said Robbie Liu.

“However, just like what happened after January 2018, after the bull market ends, bitcoin’s dominance is likely to pick up and alts will begin underperforming the market leader.”

Implications for traders and investors

Regardless of how permanent the shift is, analysts agree that it’s good for traders and investors, given that declining correlations provide them with the opportunity to diversify.

“A decline in correlation should be a most welcome development as it opens up more opportunities to trade into different value propositions within the emerging space,” said Joel Kruger.

Robbie Liu takes a very similar position, saying that the decline in correlations provides smaller traders with more of an opportunity for outsized gains.

“For retail investors with small amounts of capital and a higher tolerance for risk, the current decline in correlation is a welcome shift, presenting them with more opportunities to reap higher gains,” he said.

Assuming that the divergence in correlations persists into the future, this would ultimately be a win for traders, investors and the wider industry alike.

As Glen Goodman concluded, declining correlations would be a sign that the market is maturing.

 

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Enigmatic Elon Musk Sets Crypto Riddle with Mysterious DeFi-themed Post

Enigmatic Elon Musk Sets Crypto Riddle with Mysterious DeFi-themed Post

Another day, another Elon Musk-shaped Twitter-based crypto enigma – the Tesla chief and Twitter trickster-in-chief has sent the crypto community into a twist with to a tweet about decentralized finance (DeFi).

Without explaining whether he was being serious or just trolling his followers, Musk tweeted simply:

Musk’s serious or otherwise tweets have previously seen him delve into the world of bitcoin (BTC)dogecoin (DOGE) and even non-fungible tokens (NFTs). But the DeFi-related post appears to indicate that his playfulness – or crypto keenness – knows no bounds.

Twitter users immediately began theorizing as they waited for further clues from the Tesla supremo, who recently announced that Tesla would begin accepting BTC payments for Tesla products in the USA, with more regions to follow.

The now-seemingly-ever-present Tron (TRX) boss Justin Sun seized the opportunity for some humor, tweeting,

“Can you have DeFi on Tesla? For example, you can drive and earn Tesla tokens. The more you drive the more you earn!”

The Three Arrows Capital CEO Zhu Su called Musk “sensei,” and quipped that the community would become his “deFiant pupils.”

More puns were punched out by the blockchain advisor Anndy Lian, who advised that people should “defy current financial norms to embrace the new DeFi economy.”

Others took a more skeptical view of the matter, with the podcaster Luke Martin musing,

“How long until Elon Musk starts pumping his favorite DeFi coins like he did DOGE?”

But others still expressed excitement and all-around joy at a potential hint that Musk might actually branch out into the fast-moving world of DeFi, with a few daring to dream of a world of yield farming – powered by Telsa vehicles.

And in a sharp-witted tweet, the Spartan Group General Partner Jason Choi referenced one of Musk’smost enigmatic Twitter posts yet, writing,

“In retrospect, it will be inevitable.”

But perhaps the real truth of the matter is that Musk just felt the need to indulge in a little wordplay.

In a tweet from around the same time as his DeFi post, Musk wrote,

“If there’s ever a scandal about me, *please* call it Elongate.”

Meanwhile, the top 10 DeFi coins are down by around 4%-5% in the past hour (12:36 PM UTC) and 10%-18% in a day.

 

You can read this news on Google News or on CryptoNews.

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Bitcoin (BTC) is worth more than the world’s three largest banks combined

Bitcoin (BTC) is worth more than the world’s three largest banks combined

Thank you @TokenPost for the mention. I do believe that Bitcoin and selected cryptocurrencies that have real utility will continue to flourish in this space.

This post is originally posted here. You can also read it on Google News.

Bitcoin (BTC) is worth more than the world’s three largest banks combined

Bitcoin recently set a new all-time high when it traded above $61,000. With the surge in its price, the world’s largest crypto by market capitalization is now worth more than the combined value of the top two payment platforms Mastercard and Visa. BTC is now even more valuable than the combined market cap of the world’s three largest banks JPMorgan Chase, Bank of America, and the Industrial and Commercial Bank of China (ICBC).

BTC set a new all-time when it traded at $61,700 last week, according to Cointelegraph. The crypto’s sky-high price also pushed its market capitalization to a new record of around $1.15 trillion.

With this valuation, Bitcoin is now worth more than the combined capitalizations of two of the world’s largest payment platforms Visa and Mastercard. The combined value of the two payment networks is $871 billion, which is only around 76 percent of BTC’s valuation at its peak.

“Bitcoin’s market cap ($1 trillion) is more than #VISA ($379 billion) and #Mastercard ($492 billion) combined,” investor Anndy Lian tweeted on March 16, 2021. “This is the power of #cryptocurrencies.”

During the time of the tweet, Visa’s market cap is $492.27 billion. Meanwhile, Mastercard’s market valuation is $379.22 billion.

At its all-time highs of $61,700, Bitcoin’s market cap was roughly $1.15 trillion. The combined market cap of JPMorgan Chase, Bank of America, and the Industrial and Commercial Bank of China is $1.08 trillion.

Bitcoin’s market cap is even bigger than the combined capitalization of the three largest banks in the world. The world’s largest crypto is more valuable than JPMorgan Chase, Bank of America, and the Industrial and Commercial Bank of China (ICBC) combined.

According to data from Companiesmarketcap.com, JPMorgan Chase is worth $473.25 billion, Bank of America’s market cap is $327.40 billion, and the Industrial and Commercial Bank of China’s cap is $291.22 billion. This means that the world’s top three banks’ combined market capitalization is $1.09 trillion, around 95 percent of BTC’s market cap of $1.15 trillion.

TokenPost | [email protected]

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“CBDC is the beginning of another evolution” Anndy Lian told Blockchain Today Magazine

“CBDC is the beginning of another evolution” Anndy Lian told Blockchain Today Magazine

South Korea leading blockchain magazine “Blockchain Today Magazine” published Anndy Lian’s thoughts on CBDC. This quote can be found on Blockchain Today Magazine, Volume 29 Special Edition, page 43.

암호 화폐 지불에 대한 수요가있을 때 암호 화폐 채택 으로 시장을 이끌 것이고, CBDC는 또 다른 진화의 시작입니다. 개인 적으로 가장 매력적인 사용 사례는 CBDC라고 생각합니다. 투명한 외환으로 연중 무휴 24 시간 국제 거래를 돕는 디지털화는 믿을 수 없을만큼 강력합니다. XRP, BNB, LTC 또는 스 테이블 코 인은 CBDC 이니셔티브에 맞춰 디 지털 법정 화폐를 교환하기위한 브리지 자산 역할을 할 것입니다. 블록 체인 및 암호 화폐 회사가 코 인과 블록 체인 기술이 미래 CBDC의 형성에 어떻게 도움이 될 수 있는지 보여주기 위해 이제 첫 번 째 단계를 밟아야합니다.- Anndy Lian, Advisory Board Member, Hyundai DAC

When there is demand for cryptocurrency payments, it will lead the market to cryptocurrency adoption, and CBDC is the beginning of another evolution. Personally, I think the most attractive use case is CBDC. Digitization is incredibly powerful, helping international trading 24/7 with transparent foreign exchange. XRP, BNB, LTC, or stablecoin will serve as a bridge asset to exchange digital fiat currencies in line with the CBDC initiative. Blockchain and cryptocurrency companies must now take the first step to show how coins and blockchain technology can help shape the future CBDC. (Direct translation by Google Translate)

CBDC stands for “central bank digital currency,” a new type of currency that governments around the world are experimenting with. Central banks have constantly evolved through the centuries, and history shows that. CBDCs is one o which. For a start, CBDC would ensure that economies go digital. It is more than just another way to pay. It is a catalyst for currency innovation.

Original Source: https://ebook.etarae.com/blockchain_today/02/#p=43

 

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