Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 20

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Bitcoin rallied about 101.55% between April 2 and May 14. This sharp rally after a long bear phase surprised many, including us. Analysts at JPMorgan Chase have said that, after the rally, Bitcoin is trading above its intrinsic value. They find some similarities in…

Cryptocurrencies Pose No Threat to Financial Stability: EU Central Bank

The European Central Bank (ECB) has said that cryptocurrencies are currently not a threat to financial stability in the euro zone. In its latest paper on the subject, published Friday, the ECB said the combined value of crypto-assets is small relative to the financial system, and “linkages” to the financial sector are still limited. Further, banks in the EU do not appear to have “systemically relevant” holdings of crypto-assets. The ECB also said cryptocurrencies do not perform the functions of money. A “very low” number of merchants currently allow buying of goods…

Ethereum-Based Stock Exchange Plans First Company Listing in June

SprinkleXchange, a stock exchange built on ethereum, is reportedly listing its first company next month. Sprinkle Group CEO Alexander Wallin told Bloomberg in an interview published Friday, “We have the luxury of being first with this, but we’re aware that it will become a crowded market.” The Bahrain-based platform, operating within a regulatory sandbox created by the country’s central bank, uses a decentralized clearing and settlement system that uses automation in order to reduce time and cost. Prices will be set using the Dutch auction method, with SprinkleXchange taking a 1…

Stellar’s Blockchain Briefly Goes Offline, Confirming the Project Lacks Decentralization

Recently, blockchain-powered network Stellar stopped confirming transactions for more than one hour, effectively going offline. Although no money was reportedly lost as a result, Stellar’s major issue has now been highlighted publicly: The project is not decentralized, at least not to the extent expected at this point. Notably, the offline scenario was predicted by researchers earlier last month. Brief introduction to Stellar and its network Stellar is a platform for money remittance. It was launched in 2014 by Jed McCaleb, founder of Mt. Gox and co-founder of Ripple, and former…

During Bullish April, Fiat-to-Crypto Exchanges Outperform Crypto-to-Crypto

In its April 2019 Exchange Review, released on May 20, 2019, London-based crypto data analysis firm CryptoCompare found that fiat-to-crypto exchanges performed much better than crypto-to-crypto platforms did over the last month, as cryptocurrency prices rose across the board. According to the report, fiat-to-crypto exchanges enjoyed an impressive 85 percent uptick in monthly trading volumes in April 2019. Bithumb, UPbit and Bitfinex were the highest performing of these, with volumes amounting to $17 billion, $8.7 billion and $6.7 billion, respectively. It’s worth noting that Bitfinex was found to within the…

Don’t Kid Yourself! Bitcoin is a Terrible Stock Market Hedge: Study

By CCN: Bitcoin is not an effective hedge against an uncertain economy or volatile stock market — despite what crypto evangelists vehemently insist. That’s the conclusion of a report that was just published in the Annals of Operations Research. The paper is entitled “Market Risk and Bitcoin Returns,” and it was authored by Dimitrios Koutmos, an assistant finance professor at Worcester Polytechnic Institute in Massachusetts. Report Touts Itself as a ‘Cautionary Note’ Koutmos says he’s sounding the alarm for investors, calling his report a “cautionary note” for the irrationally exuberant…

UK-Based Global Funds Network Calastone Switches Entire System to Blockchain

London-based global funds network Calastone announced that it switched its entire system for fund trade clearing services to its blockchain Distributed Market Infrastructure (DMI) in a press release published on May 20. Per the release, the migration of the company’s over 1,800 customers over 41 markets “represents the largest community of global financial services organisations connecting and transacting via distributed ledger technology.” In the announcement, the institution also forecasts that the resulting savings for the mutual funds market will amount to over £3.4 billion per year ($4.33 billion). The release…

Senior Official in Russian Parliament Says That Cryptos Can Ruin Governments

A senior official in Russia’s parliament, the State Duma, has argued that cryptocurrencies have the potential to ruin governments, Russian financial media agency Rambler reported on May 20. Nikolai Arefiev, a member of the Communist Party of the Russian Federation and vice-chairman of the Duma’s committee on economic policy, innovative development and entrepreneurship, claimed that cryptocurrencies were created in order to hide large offshore assets from the government. If cryptos such as bitcoin (BTC) had emerged by 1994, Russia would have been “fully destroyed” so far because it would have…

US Bank Say Bitcoin (BTC) is a Bubble, Will Price Fall?

Bitcoin (BTC) in range mode JP Morgan Strategists say current prices echo those of late 2017 and could burst After analyzing Bitcoin as a commodity, JP Morgan strategists now say there is a divergence between actual and intrinsic values and that Bitcoin echoes the spike of Dec 2017. In their view, the only correction is a drastic reduction in price against analysts’ projections. Bitcoin Price Analysis Fundamentals Analysts believe that the dilapidating winter of last year is over. In six weeks starting from early April, Bitcoin (BTC) prices have been…

‘Expert’ Says Startups Should Go All-In on Blockchain

By CCN: Bernhard Schroeder, an educational director of entrepreneur programs at San Diego State, implores entrepreneurs and investors to focus on the blockchain, rather than Bitcoin. In a new editorial today in Forbes. Schroeder classifies Bitcoin as a speculative investment which may or may not work out long-term, but lauds the merits of blockchain, which he describes as “a serious technology.” The Resurrection of the ‘Blockchain, Not Bitcoin’ Brigade Schroeder believes that “the real potential” for blockchain technology will emerge from the companies who decide to build on it. Hundreds…