Bitcoin (BTC) is down 7.5 percentCritics say Bitcoin is prone to manipulation citing unattractive volatilityFronting transparency and trustlessness devoid of intermediaries, Bitcoin is a success. With ultra-high security, the network is robust. Therefore, despite recent blips, BTC is fundamentally bullish. Traders ought to fine-tune entries in smaller time frames as it appears that prices may slip to $9,500 in days ahead.Bitcoin Price AnalysisFundamentalsCryptocurrencies, as we know, are here to stay. In a race favoring the fittest, Bitcoin is battle-tested and is likely to weather future storms. It did in the past and is ready to quash any resistance in days ahead. That’s albeit the divided community.After all, Bitcoin is only but a child. The world’s most valuable asset is 11 years old. Within this short time, it has caused jitters in the world’s financial system. To the extroverts, Bitcoin is an Avant-garde asset that will disrupt the status quo. Its technology, they argue, will underpin the decentralized global economy thanks to its systemic stability.Even so, there are concerns. Bitcoin is a necessary product, borne with the express purpose of making the world more transparent. Imperiled economies suffering from hyperinflation found refuge in Bitcoin and so do those under pressure from external forces as economic sanctions.Nonetheless, critics are of the view that transparency and trust are missing pillars that are currently missing. Inherently transparent, funds are wary of transacting.Meanwhile, USDT is emerging to be a tool for market manipulators. Plagued by scandals, BitFinex, and USDT issuers are under the same parent company. Critics now say USDT is used to manipulate BTC prices, linking price volatility of the last few weeks with the USDT minting.Candlestick ArrangementsPrice wise, Bitcoin (BTC) is flimsy and sliding. After three months of superior performance, BTC fall from grace is highly likely. Although bulls may unexpectedly flow back driving BTC to $14,000 and higher, technical candlestick arrangement favor bears.Noticeably, despite attempts of bulls to shore prices, bears are pressing lower. As such, the double bar bear reversal pattern is valid thanks to the confirmation of June 30. Because of this, risk-off traders can short BTC on every pull back with a modest target of $9,500.From previous BTC/USD trade plans, odds are BTC could slide to $7,500 or $5,500 more so if prices slip below $9,500.Technical IndicatorsIn line with this projection, June 26 candlestick leads this trade plan. Any confirmation of June 27 losses ought to be with high trading volumes exceeding 82k in a correction of June 26 over-pricing. Similarly, a sharp spike lifting prices to over $14,000 must be with equal or better participation unequivocally confirming bears of Q2 2019.Chart courtesy of Trading View. Image Courtesy of Shutterstock
Archives for July 1, 2019
Data from blockchain.com shows the hash rate for Bitcoin hit 68,638,992 TH/s on June, 29th. An all-time-high for the Bitcoin network. The Bitcoin hash rate has been on an upward trend since mid-December last year and has seen a 113% increase from that point.Bitcoin’s hashrate is now at 69,000,000,000,000,000,000 hashes every second.Hashrate is up 2x since Dec 2018 lows, and over 10x since Jun 2017. pic.twitter.com/1fdLnH5mtq— Kevin Rooke (@kerooke) June 30, 2019Bitcoin’s Hash Rate Dominates Rival CoinsThe term hash rate refers to the speed of completing an operation on the blockchain. In other words, it refers to how much computing power miners lend to network. At the end of June, on the Bitcoin network, that equated to a mind-blowing 68,638,992 trillion hashes per second.
Well, that de-escalated quickly. Just nine days after breaching the five-figure mark for the first time in 2019, the bitcoin price has once again crashed below the $10,000 level.
Bitcoin Price Slips to $9,950
The flagship cryptocurrency had been in a downtrend since peaking near $14,000 on June 26, suffering multiple major sell-offs en route to today’s plunge, which thrust BTC down to $9,950 on Bitstamp.
Bitcoin has now careened nearly $4,000 below its year-to-date high – a high it set less than a week ago. That works out to a six-day decline of around 30%.
On the other hand, the bitcoin price has still gained 23% over the past month and a staggering 183% since January 1.
Analyst: Crypto Market Correction is Healthy
Earlier today, eToro Senior Market Analyst Mati Greenspan said that he would be “quite surprised” if BTC managed to hold the line at $10,000. Even so, he warned crypto investors not to fret.
“Many have named the psychological support level of $10,000 (blue line) as the key level of support but personally, I’d be quite surprised if it holds that level,” he wrote in daily market commentary shared with CCN. “If it does break through, it’s not really something for bitcoin bulls to be fearful of. We can see even stronger levels of support just below. But even if those levels give, critical support is as far down as $5,000 (red line).”
Greenspan said that the decline was healthy given how quickly the crypto market had surged in recent days.
Bitcoin last traded at $10,275 after bouncing off its low at $9,950.
Live Crypto News Show
Bitcoin may be back over $10,000, but the price increase is bringing with it similar market inconsistencies as seen in the cryptocurrency’s meteoric 2017 ascent.
At press time, bitcoin prices in South Korea are once again trading at a notable premium to Western exchanges. The spread, popularly known as the “Kimchi Premium” after a Korean preserved food dish, rose to $1,048 on Sunday, the highest level since Feb. 24, 2018, according to data from cryptocurrency exchanges Bithumb and Coinbase.
Bithumb is South Korea’s largest cryptocurrency exchange while Coinbase, headquartered in San Francisco, California, is the largest U.S. cryptocurrency exchange.
As of writing, the price differential on two exchanges is seen at $520.
Kimchi premium daily chart
As seen can be seen, the spread alternated between positive (premium) to negative (discount) in the range of +200 to -200 for nearly 15-months before rising sharply from $80 to $1,048 in the seven days to June 30.
Interestingly, the kimchi premium has spiked with bitcoin’s break above $10,000. While the spread is on the rise, it is still down 90 percent from the record high of $7,484 registered on Jan. 8, 2018.
Back then, a bull frenzy had gripped South Korea with the cryptocurrency reportedly drawing demand from many demographics, including college students and housewives. After all, BTC had rallied from $6,000 to $20,000 in the preceding two months.
With Korean’s paying nearly 25 percent premium, the government decided to clamp down on speculation in January 2018. As a result, the kimchi premium was all but evaporated by the end of February 2018.
Kimchi premium in the ether market
Other markets also witnessed a rise in the Kimchi premium last week. For instance, the spread between the price of ethereum’s ether (TH) token on South Korea exchanges and Western exchanges rose to $28.57 on Sunday, the highest level since May 2018. As of writing, the spread is seen at $144.
The kimchi premium in both bitcoin and the ethereum markets is falling back along with the correction in prices. While bitcoin is now trading at $10,500 representing a 24 percent drop from the recent high of $13,880, ether is changing hands at $286 – also down more than 20 percent from last week’s high of $365.
Disclosure: The author holds no cryptocurrency at the time of writing
Monarch, a wallet and exchange platform, launched a digital asset marketplace to supports 1,900 separate tokens.
The company also announced a partnership with financial-services provider Ambisafe to create a licensed alternative trading system which will enable investment in tokenized entities. A pre-IPO token for SpaceX, representing private shares of the aerospace company, will be offered on the ATS, according to the company.
The Monarch Marketplace consolidates a number of services including a decentralized wallet, ERC20 exchange, a portfolio tracker, and universal KYC integration on a platform that also enables financial services like credit purchases of cryptocurrency and offers 7.1 percent APR interest on crypto holdings.
Monarch President Robert Beadles hopes his company’s suite of applications will streamline the industry and help consumers cut excessive applications. He said the average cryptocurrency user needs nine applications to manage their digital assets.
“Right now, overly complex processes are preventing cryptocurrencies from going mainstream and allowing people to control their financial lives,” said Roger Ver, CEO of Bitcoin.com, in a statement, who advised on the project.
The platform supports almost all available ERC20 and SLP tokens.
Additionally, consumer safety will be bolstered by reducing potential points of attack, according to Beadles. To that end, the company offers asset transfers between hot and cold wallets and allows users to maintain ownership over their private keys and seeds. The wallet feature is licensed as a broker-dealer and awaiting approval by the SEC and FINRA.
Monarch’s integration of Ambisafe’s Orderbook used to buy, sell, and hold securities on the blockchain is also pending FINRA and SEC approval. The platform will allow early investment access to private launches.
Host of Crypto Beadles on YouTube, Beadles teamed up with former Johnson & Johnson engineer Sneh Bhatt to launch Monarch’s free decentralized wallet and marketplace. The two founders provided seed funding for the project, and are currently conducting a token generation event that ends June 30.
Beadles said the ecosystem’s quarter-million clients – with “a few thousand new downloads every week” – have generated a “soft cap of over $2 million” through using the platform.
“For merchants, Monarch allows companies to accept crypto with an easy-to-use plugin, opening them up to new revenue streams and user bases. For partners, Monarch offers access to Monarch users, partner development services, revenue share, and marketing exposure,” he said.
Digital shopping photo via Shutterstock
The Russian Ministry of Finance will not issue any special regulations for Facebook’s upcoming digital currency Libra, deputy minister Alexei Moisseev said Monday.
Answer reporters’ questions, Moisseev said Libra will be treated in Russia like any other digital asset, regulations for which are coming, according to the news agency Interfax.
“Nobody is going to ban it. “
On the other hand, no cryptocurrency of any sort will ever become legal tender in Russia, Moisseev said. “The ruble is our national currency and all operations should be conducted using it.”
Rather, cryptocurrencies will have a status similar to foreign currencies. “It will be possible to buy it, sell it, keep it, but not use it [to pay for goods and services],” Moisseev said of crypto. “Yes, the legitimate market should be formed. But it’s out of the question that under the banner of a legitimate market, everything is possible.”
Facebook’s vision for Libra – a global cryptocurrency backed by a basket of fiat currencies – has riled regulators and politicians worldwide, with the U.S. Congress set to hold hearings this month and the G7 forming a task force to study the project.
Moisseev also told reporters that many businesspeople were asking about opportunities to conduct transparent initial coin offerings (ICOs) and a new law for it will be ready soon.
Earlier he told news agency RNS that a bill on digital assets, which has been stalled in the Russian parliament since last May, is likely to pass the main, second hearing in a couple of weeks.
“We had a discussion about it lead by [finance minister] Anton Siluanov, there were the deputy prime minister [Maxim] Akimov, the central bank, the law enforcement agencies… All the decisions have been made, we’ll look at the text [of the bill] and, I hope, in two weeks get it on track for the second hearing,” Moisseev said June 18.
A bill on token sales, however, will be discussed separately, he added. There is no official timeline for passing this bill, entitled “on attracting investments using investment platforms.”
Russian Ministry of Finance image via Shutterstock
Bank for International Settlements (BIS) chief Agustin Carstens has been a vocal opponent of bitcoin and other cryptocurrencies, making his feelings known in no uncertain terms on many occasions. But the general manager of the BIS – popularly known as the “central banks’ central bank” – is having a change of heart.
ok, so this was a pretty fast about-turn – Agustín Carstens, head of the BIS: “Many central banks are working on [creating digital versions of state currencies]; we are working on it, supporting them” @FT https://t.co/xAQUHB4adV
— Noelle (@NoelleInMadrid) June 30, 2019
The Financial Times reports that the Mexican economist is now supporting digital currencies:
“Many central banks are working on it; we are working on it, supporting them,” Mr Carstens told the Financial Times.
“And it might be that it is sooner than we think that there is a market and we need to be able to provide central bank digital currencies.”
Agustin Carstens’ remarkable volte-face
It wasn’t long ago when Carsten was dead against central banks working on their own digital currencies. He believed that crypto assets backed by central banks could result in financial instability. This view of his is not surprising as he called bitcoin and other cryptocurrencies “a bubble, a Ponzi scheme, and an environmental disaster.”
Agustin Carstens holds the view that bitcoin is an asset class that does not serve the purpose of money, arguing that the massive volatility associated with this space makes crypto assets a poor store of value:
“No cryptocurrency is a true unit of account or a payment instrument, and we have seen this year that they are a poor store of value. Buyers of cryptocurrencies are buying into nothing more than a software algorithm.”
So Carstens’ comment that the BIS is now “supporting” other central banks seem surprising given his fierce criticism of bitcoin. But it looks like he is afraid of losing relevance in a rapidly evolving fintech space where big players such as Facebook and other investment banks are coming up with their own crypto assets.
The BIS chief is being forced to love bitcoin and crypto
Big banks and government institutions across the globe are worried that the launch of Facebook’s Libra cryptocurrency will disrupt the financial markets.
With regards to Facebook’s crypto project Libra French Finance Minister Bruno LeMaire said: “It is out of question’’ that Libra “become a sovereign currency, it can’t and it must not happen.”
Nation states know what is at stake for them. The game is on.https://t.co/yJQqUFKtxf
— Robert Miller (@bertcmiller) June 18, 2019
They are afraid that the social media giant is on track to create a parallel financial system thanks to its massive user base, reducing central banks to relics of the past.
Former World Bank chief economist Kaushik Basu holds the opinion that the adoption of Libra will be harmful for central banks if billions of users decide to keep their money outside of the formal banking system. In such a scenario, the monetary policy tools that central banks yield will be rendered useless.
Agustin Carstens seems to have realized this, which explains why he has changed his stance. Central bank-backed crypto assets will give the general public access to money that was earlier reserved for private sector lenders.
This is one-way central banks can compete against tech giants such as Facebook and remain in relevance. Otherwise, Agustin Carstens would be without a throne to sit on as his central banking empire will crumble thanks to the onslaught of cryptocurrencies from private players.
Live Crypto News Show
After managing to stay situated above $11,000 for a number of days, Bitcoin (BTC) has begun to slip. This is a far cry from the performance seen earlier this week, with one day seeing Bitcoin post a 20% daily gain.Related Reading: Bitcoin Must Break Above $12,444 Or Else Price Breakdown May Occur, Claims Prominent AnalystHowever, this rapidly changed when BTC tapped $13,800, failed to break past this key technical level, and subsequently broke down. As of the time of writing this, the cryptocurrency has found itself floundering in the $10,500 range, down 10% in the past 24 hours.With this poor performance, which has effectively reversed all of this week’s gains, analysts have begun to fear that at long last, Bitcoin may just be poised for a deep correction. But there’s somewhat of a silver lining: this may be the last strong dip before another leg higher, a leg that may bring BTC to new all-time heights.Bitcoin Bulls Lose Grip, BTC Down 10%Just hours ago (as of the time of writing this), Bitcoin closed its daily candle, which also happened to line up with the weekly, monthly, and quarterly close. In other words — Sunday’s performance was key. The thing is, BTC didn’t rise to the occasion.As Nunya Bizniz, a popular trader, points out, the daily close saw BTC fail to hold a key parabola that has held for over six months. This is notable, as the origin of this move stretches back to Bitcoin’s bottom of $3,150.First daily close beneath the parabola in 6.5 months.Parabola broken typically = 85% retracement from where parabola began.Retrace to $4,700?Ouch! pic.twitter.com/mZ6nQ48o1s— Nunya Bizniz (@Pladizow) July 1, 2019Bravado’s lead analyst, Bitcoin Jack, adds that this parabola break marks a rejection of the fifth acceleration of this trend, which comes shortly after BTC broke the sixth and the seventh. The analyst writes that if BTC retests the fifth (~$11,800) and fails to break past it, he would be inclined to enter into a “high time frame short”.For those not aware of price action in financial markets, an asset’s inability to hold a long-standing parabolic trend is often seen as a very bearish trend. In Bitcoin’s case, each time it failed to hold a parabola, a correction of over 80% from the top was commonplace.If this pattern comes to fruition now, Bizniz notes that a massive correction to $4,700 could play out. There is no guarantee that such a downturn will come to fruition, but the historical precedent sure is harrowing.Related Reading: Economist Flips From Bitcoin Skeptic to Savant, Acknowledges Crypto’s Staying PowerThe loss of the parabola isn’t the only sign a large correction is well on its way. As Level’s Josh Rager points out, the weekly candle that Bitcoin has just closed has historically been a very bearish sign. The candle, known as a “Shooting Star Doji“, is marked by a skinny body (same/similar open and close price), a small bottom wick, and a tall upside wick.Shooting stars often lead to reversals, which Rager suggests means that Bitcoin may see a “couple of down weeks”.Some have suggested that this downward price action may continue into the end of July, as Bitcoin has never rallied six months straight in its history, but has already completed five months of upward price action.Interestingly, unlike on other occasions, there isn’t much contention to the idea that Bitcoin will finally experience some form of a reversal, despite the fact that investors are often divided over most topics and charts.$BTC Monthly close looks goodWeekly close looks ugly, you’ll likely see this shooting star type of doji all over CTWhich typically is a signal for reversal & we could see a couple of down weeks for BitcoinBut be happy as that would mean prime buying opportunities ahead pic.twitter.com/szZLVShLKD— Josh Rager 📈 (@Josh_Rager) July 1, 2019What’s the Long-Term Outlook?It is important to note that following the expected weeks of selling pressure, Bitcoin could continue to fall. But, most are sure that once this correction is over, BTC and its altcoin brethren will continue to sprout higher, boosted off “FOMO” on behalf of the retail and institutional audience.Think Markets U.K.’s Naeem Aslam has claimed that as long as BTC stays above the 242-day moving average, which is somewhat unorthodox compared to the traditional 50 or 200-day, a correction is unlikely. In fact, he quips that in the coming months, a swing to $20,000 is entirely possible.At what price will see FOMO from those who gloated about 90% crash in $BTC?Military term, SWAG (scientific wild-assed guess).My SWAG is $10,000 is price that causes FOMO from those who saw #bitcoin as dead forever.POLL:
At what price do we see FOMO?— Thomas Lee (@fundstrat) May 12, 2019In a similar manner, Fundstrat’s Tom Lee last month noted that a move past $10,000 “will see FOMO from those who gloated about the 90% crash in BTC… and those who saw Bitcoin dead as forever.”Lee, in fact, stated that once $10,000 is passed, there could be a “fast and furious” move to $20,000. And from there, Bitcoin will double in the next five months, reaching $40,000 as BTC enters a new phase of pure price discovery, which should not be hampered by historical resistances.Featured Image from Shutterstock. Chart Courtesy of TradingView.com
Crypto investors have a new way to bet on the price of bitcoin – or on traditional assets – with the formal launch of EverMarkets Exchange (EMX)’s derivatives platform.
The Palo Alto, California-based startup was founded two years ago and opened the exchange to a restricted audience at the end of May 2019. Effective Monday, the market is now available to participants worldwide – though U.S. residents are excluded.
Co-founder Craig Austin told CoinDesk that the company wants to give customers access to a “world market” by trading derivatives tied both to crypto and traditional assets, and while it bills itself as “institutional-grade,” EMX is primarily interested in a retail market.
“We kind of over the last year and a half built one platform to let traders from around the world trade global markets collateralized in cryptocurrency,” he said. “That’s the key idea for us, to let anyone in the world outside the U.S. to send cryptocurrencies to a marketplace and get exposure to the world market, so not just cryptocurrencies but also equity markets.”
At present, EMX offers two products: a bitcoin perpetual swap contract and a U.S. 500 Equity Index perpetual swap (based on the S&P 500). Perpetual swaps are futures contracts with no expiration date; the underlying asset is never delivered, and payments are periodically exchanged between the buyer and seller. The contract type was initially designed for the crypto market by derivatives exchange BitMex.
Down the road, EMX will look at other traditional swaps, such as gold and crude oil, as well as different cryptocurrencies to build futures contracts on top of.
Notably, while EMX isn’t licensed as an exchange or financial services business by any jurisdiction, it is registered in Bermuda. Austin said, “we’re trying to offer a more regulatory-safe market” by abiding by know-your-customer and anti-money laundering guidelines.
“A lot of those markets don’t have strong KYC and AML procedures. We see the regulatory environment changing over the next 12 months and we want to be positioned that we’re trading on the platform but we’re also ready for more exchanges, more regulations.”
The company currently sees a few hundred traders active on its site every week, as part of the company’s initial testing phase, Austin said.
“We were testing internally for about two months now with friends and family,” he said. The company selectively invited external users shortly thereafter.
Roughly 2,500 individuals signed up to trial the platform, with the entire list being granted access a few weeks ago.
Away from blockchain
When EMX first announced its intention of building a derivatives exchange in March 2018, the company intended to utilize a blockchain-based trading platform, co-founder Jim Bai told CoinDesk at the time.
However, the company has since moved away from this model. Austin explained that, in his team’s view, the technology is not yet mature enough to support a widely accessible trading platform.
“I guess our thesis is in the next 12 months we won’t see DEXs take off for broad adoption,” he said, referring to decentralized exchanges.
As of right now, EMX’s trading platform is based on “standard, cloud-based” technology, he said.
Moving forward, the company does intend to make its trading platform compatible with different blockchains, allowing users to collateralize their trades with multiple cryptocurrencies. Austin wouldn’t commit to any specific tokens just yet, though he said “maybe a stablecoin makes the most sense.”
The fact that EMX is only a derivatives exchange means that customers won’t actually be trading crypto, he noted, adding:
“You get exposure to markets like us equities and other cryptocurrencies. You won’t actually trade the token, you just get exposure to a future or a swap.”
At any rate, EMX will only launch with its existing products in order to build up liquidity. Only once the platform sees higher transaction volumes, will it start adding its other products.
The company previously raised $1 million in early-stage financing from Bain Capital Ventures and Skype co-founder Jaan Tallinn. EMX is now in the middle of raising another $2 million, Austin said.
These funds will be aimed at improving the customer experience, including by building a mobile application.
“We found that half of our users are accessing us on the go,” Austin said. “No one really has a great [mobile app] yet but being on everyone’s devices is important to us.”
Also included in EMX’s roadmap is a plan to launch a spot market for crypto traders, though this is further down the road and not necessarily a priority.
Ultimately, once the exchange has raised sufficient funding, Austin said the company will try to apply for the requisite U.S. licenses to offer services in its home country.
“As a U.S. company, as U.S. people we are interested in the U.S. market but … there’s a ton of hurdles to offer to the U.S. people that we’d have to get through and it’s not even determined which hurdle we’d have to get through,” he said, concluding:
“You’ve seen Kraken and other exchanges try to navigate that so we’re going to let a couple pioneers do it first.”
EMX Co-founders Craig Austin, Jim Bai image courtesy EMX
BitMEX, a bitcoin derivatives exchange, has surpassed $1 trillion in annual trading volume, according to a tweet by founder Arthur Hayes.
It comes as bitcoin futures trading volumes explode to record highs on the Chicago Mercantile Exchange (CME) platform. Demand for bitcoin derivatives, which allow users to open up long and short positions on bitcoin’s price movement, is booming.
— Arthur Hayes (@CryptoHayes) June 29, 2019
BitMEX: the trillion dollar bitcoin exchange
BitMEX is popular for its high-leverage margin trading. Users can execute 100x leveraged trades on bitcoin futures and perpetual swaps
On June 26th, the exchange boasted a record day as the bitcoin price shot to almost $14,000. Open interest for perpetual swaps hit $1 billion while total volumes hit $16 billion across the board.
Cumulatively, the exchange has now seen more than $1 trillion traded in the last year. It’s a stunning feat, considering bitcoin languished at bear-market lows for most of the 365 trading days.
Bitcoin futures trading sets new record
The CME bitcoin futures platform, which launched in late 2017, has also seen record interest. The exchange traded a record notional value of $1.7 billion on Wednesday last week on the day bitcoin hit a 2019 high.
CME Bitcoin futures reached a record $1.7B in notional value traded on June 26, surpassing the previous record by more than 30%. The surge in volume also set a new open interest record of 6,069 contracts as institutional interest continues to build. $BTC https://t.co/WqXSPX0raR pic.twitter.com/HjGKb9a0ah
— CMEGroup (@CMEGroup) June 28, 2019
Both CME and BitMEX offer a platform for traders to short, or bet against, the bitcoin price. As bitcoin soars more than 300% off its yearly lows, traders are using these platforms to place bets on the rally running out of steam. As the Wall Street Journal points out, however, shorting bitcoin is also a hedging strategy for bigger players.
“Such data don’t necessarily mean hedge funds are placing outright bets that bitcoin will drop. The short bets could also be part of hedging strategies: for instance, a fund with a portfolio of bitcoins might go short at CME as insurance against the value of bitcoin dropping.”
BitMEX CEO takes on bitcoin-hater Nouriel Roubini
BitMEX founder Arthur Hayes is set to debate Nouriel Roubini, a renowned bitcoin critic, on Wednesday 3rd July. Roubini took a swipe at Hayes on Twitter, claiming the BitMEX volume is fake, citing a BitWise study into exchange manipulation.
How can one believe ANY of these figures when 95 percent of all bitcoin transactions on a typical exchange are fake? Fake-coins, shit-coins, fake-transactions, fake-pricing. The only true thing in crypto space is manipulation, pump n dump, front-running, wash trading, etc… https://t.co/i43cPwjFX2
— Nouriel Roubini (@Nouriel) June 26, 2019
What Roubini doesn’t realize is that BitMEX volume wasn’t even considered by the Bitwise report, nor is it listed in CoinMarketCap’s “reported volume” because it’s a derivatives platform.
The pair will go head to head at the 2019 Asia Blockchain Summit on Wednesday. In a deleted tweet, Hayes said he would “wipe the floor with that chump.”