What Crypto Market Needs To Pay Attention In The Last Few Months of 2018

When referring to the basic analysis of trade crypto, it is common to discuss only the basic characteristics of a project such as technology, platform, community, usefulness, etc. the market. However, catching a few basic trends will help a lot for investors. Here are some highlights in  the last quarter of 2018 in general.

1. Bitcoin ETF
Bitcoin ETF is one of the most talked about phrases recently, when the Securities and Exchange Commission (SEC) recently announced that it would review the Bitcoin ETF proposal from VanEck and SolidX. It is notable that the SEC has repeatedly rejected ETF proposals from twins WinkleVoss, Proshares, Direxion as well as GraniteShares, which totaled 9 singles were massacred by the SEC.

The cryptocurrency market in general is very much looking forward to this so-called Bitcoin ETF, as it is a great opportunity for institutional investors to keep an eye out for Bitcoin and pre-coding. The deadline for the SEC’s decision on the VanEck & SolidX proposal is September 30, but the SEC has said it will review it without giving a date. High probability will be in this October.

2. Bitcoin Futures Contracts
In the past, Bitcoin has been hit hard by the near maturity of Bitcoin futures on CME and CBOE, with CME taking on higher volume and contracts. So we have to be careful when trading Bitcoin in the near future maturity date.
In terms of futures contracts, the contract price will tend to run at the spot price so there will be a strong pump or dump, so trader avoids trading on these days – especially the last trading day (last trade). In October, we have the last transaction date is 28/10 and the due date is 31/10.

3. Binance launches decentralized trading platform (DEX)
This may be a major event affecting the cryptocurrency market, the likelihood is high. Binance is a decisive trading platform and it is capable of shaping the direction of the entire market. If it’s going to the decentralized floor, the rest of the floor will do the same, and indeed the decentralized floor is a milestone right from the start in Binance’s roadmap.

Binance is scheduled to release its beta at the end of this year or early 2019.

Bartering System to Cryptocurrency

Bartering System to Cryptocurrency

Bartering System to CryptocurrencyTrading first existed as bartering, where goods were exchanged for other commodities, with no significant value equivalence, merely for purposes of exchanging based on need. For instance, if I was a farmer and wanted to eat fish, I would visit a fisherman and exchange some of my provisions for some of his fish. Then man started mining metals. Metals were considered valuable due to its scarcity and was first traded in its raw form.

Eventually, in the third millennium BC, gold and silver were traded as currency and by the 7th century, the first mint was built in Turkey, to produce coins. Other nations followed suit and by the 10th century China began printing paper money causing inflation to skyrocket, and by the 15th century, paper money was abolished during the Ming dynasty. By the 16th to the 17th century, shells were minted as currency but by the 17th century, bank notes started to become the new way to trade, causing bankruptcy in addition to inflation.

The first banking systems were the temples that existed in the 18th century BC. Preciousmetals were stored in the temples because temples represented a sacred place and it meant to deter thieves from stealing. Throughout the 19th and the 20th centuries, money existed as gold and silver coins. When governments took over the banking responsibilities, paper money was used and coins were manufactured from other metals such as copper. The value of the paper money was determined by the Government and eventually, banking institutions started forming.

Banks looked for more innovative ways to carry around currency and eventually, checks were created. Customers could write large sums of money on these paper forms which acted as a promissory note for the exchange of money at banks. Then came the electronic age. Customers would be able to access their monetary assets held at the banks, via electronic machines that operated 24/7 once they had an access card. Telebanking also became famous whereby consumers can transfer funds, pay bills and find out the balance of their accounts, all through a telephone.Soon enough, Internet banking and online transactions became possible. Money could be transferred digitally to anywhere in the world but you could still physically withdraw money from your bank accounts.

In 2008 to 2009, the world’s first digital currency was created and called Bitcoin. This digital money could not be seen physically and could only be transferred via the Internet. Its value then was $0 but today it is worth over $6800 and growing. Bitcoin gave rise to cryptocurrency, known as the digital gold. There are more than 10 types of cryptocurrencies existing today, Bitcoin of course, being the most valuable. Unlike regular currency, banking systems do not exist for cryptocurrency, yet it is secure and maybe more valuable, created out of code and using blockchain technology.

Cryptocurrency would change the future of money which is constantly being devalued every day. The currency is still new but it is steadily gaining popularity and value. Sometime in the future, we may have a 100% paperless currency.