How to buy bitcoin in Pakistan – Medium PK

After the Bitcoin crash: do others fear me for greed?

At 6:30 pm on March 12, Bitcoin dropped from $ 7211 to $ 5555.55. The bitcoin price dived again this morning, slumping nearly $ 2,000 again in half an hour, the lowest fell to $ 3,782.13, a drop of more than 40% in 24 hours. According to the data of the contract emperor, only Huobi, OKEx, Binance, and BitMEX exchanges had a daily short position of 3.133 billion US dollars, which reached the highest in a single day in history. The number of liquidated positions exceeded 110,000, which was also the highest in a single day.
Also on March 12, the S & P index fell 260.74 points, triggering the fusing mechanism for the second time this week. The Dow hit its largest decline in history, at 2352.6 points. The Nasdaq fell 750.25 points to 7201.8 points. This is the third time in the history of US stocks. This fuse has been 33 years since the first fuse, but only 4 days have passed since the last fuse. Buffett shouted, "I only lived this way in 89 years." It is reported that Buffett lost $ 6.8 billion last night.
According to incomplete statistics, with the exception of the United States, the stock markets of 11 countries including Canada, Mexico, Japan, South Korea, Thailand, India, the Philippines, Indonesia, Brazil, and Pakistan plummeted. The five largest US technology companies, Apple, Amazon, Google, Facebook, and Microsoft, had a cumulative market value of $ 416.63 billion. The Bloomberg Billionaires Index shows that the top 15 richest people in the world lost a total of $ 46.4 billion.
Market panic or pullback demand? Regarding the meltdown of U.S. stocks this week, Yang Delong, chief economist of Qianhai Open Source Fund, believes that the spread of the epidemic is not the main reason. It is more a decade of bull market for U.S. stocks. Some factors driving the rise of U.S. stocks are quietly changing, such as the Federal Reserve ’s interest rate There is not much space. Regarding this crazy drop in Bitcoin, Apocalypse Capital told InfoQ that there are two main reasons for this drop in Bitcoin: on the one hand, the bearish demand caused by the expected global economic downturn, and on the other hand, Bitcoin Callback requirements themselves.
As we all know, Bitcoin will be halved in the second half of the year, but the trading market pays attention to speculation expectations. This round of rise has essentially halved the market. After hitting a high of 10500, Bitcoin is facing a callback demand. Of course, this round of downtrends is so rapid and there are only a handful of recurrences in the history of Bitcoin, which are inextricably linked to the decline in global stock markets, both of which are the result of expectations of a bearish global economy.
However, Johnson Xu, chief analyst of TokenInsight, told InfoQ that the Bitcoin dip was mainly due to market panic, because some market participants bought bitcoins by buying mining machines, borrowing, etc., and expected to reduce their expectations by half. A linkage effect caused by everyone being too optimistic about the market.
The market is overhyped because Bitcoin is halved, and some market participants are afraid to miss the opportunity to enter the market irrationally. The current market slump is driven by strong irrational behavior, which translates into a rapid downside response and quickly depletes market buyers' liquidity (flattening down). When the overall financial market panic or other unexpected events are caused by the New Crown virus and the global economic slowdown, market participants often seek to withdraw assets such as stocks and bitcoins and convert these assets into cash (cash is king). So has the recent gold sell-off.
When the market panics, people ask for cash in the beginning instead of investing in safe-haven assets such as gold. At the same time, because gold is considered a high-quality asset, investors usually start with liquidity crunch and market panic. Cash in on good assets (because inferior assets are more difficult to sell in panic times). The Bitcoin crash this time has a certain connection with the decline in global stock markets, because the entire financial market is a globalized market, and there is more or less linkage between each asset.
In addition, Forbes speculated that it may be because PlusToken scammers transferred bitcoins worth more than 100 million US dollars to the mixer, and then sold bitcoins, resulting in rising market supply.

Other people are greedy, I am afraid, others are afraid of me, greedy? In this case, should investors still expect "halving the market"? Johnson Xu believes that there is no such thing as a "half quotation", and most market participants are too optimistic about the halving of Bitcoin. Price fluctuations are not necessarily caused by halving, but may be caused by the sum of other factors. When everyone is saying that they are optimistic about the market, the existence of risk is ignored in the subconscious. At this time, the risk will be actually reflected, and the upside will gradually shrink. Bitcoin halving was written into the code, and it was not an accident. Bitcoin should be halved in a rational way. It is worth looking forward to, but not overly interpreting and speculation.
However, Tianqi Capital believes that this plunge is a callback period for bitcoin's halving of the market, and each round of sharp decline also indicates the opportunity of the market outlook: cheap chips will be hoarded, waiting for the next wave of hype and explosion. Therefore, Tianqi Capital still believes that the market outlook of Bitcoin is worth looking forward to, provided that it is not frightened by the current fierce washing of the chips, after all, when the bear market is the worst, it is also when gold is everywhere.
Regarding the future trend of Bitcoin, Apocalypse Capital stated that it should judge according to the current trend.
In this round of market, Apocalypse Capital initially chose to follow the downward trend of May 18, and Bitcoin has gradually dropped from a high of 10,000 to 3150 points, so the big support level predicted by this round happens to be 3700 today. Near the point. Data monitoring shows that some funds are involved in this price range. But whether it can hold on to this support remains to be tested. If the 3700 support cannot be maintained, it is very likely that it will hit the US $ 2000 level. Tianqi Capital believes that this is the market's last line of defense. Long-term investment is recommended to buy some relatively stable targets, such as BTC, ETH, etc. The bear market will eliminate many currencies, but if it survives, it will shine in the next round.
Johnson Xu believes that the plunge is also a test to promote the healthy development of the industry. Extreme market is a test for the entire industry, especially for infrastructure, risk management, etc., so it is still optimistic and supports the development of the industry for a long time.
For current investors, Johnson Xu offers the following suggestions:
  1. Other people are greedy, I am afraid, others are afraid of me, greedy.
  2. Global financial markets have also undergone major changes. From the data point of view, I don't think Bitcoin has the attributes of a safe-haven asset, but this market can test whether Bitcoin has a certain risk-avoidance capability. This is a global world. We need to analyze various markets, not just the digital asset market.
  3. In the long run, we are still optimistic about the digital asset industry.
Does Bitcoin have a fusing mechanism? On March 9, after the U.S. stock market crash triggered the fusing mechanism, the market began a discussion of "whether Bitcoin should set up a fusing mechanism". But at present, most people are not optimistic about the Bitcoin fusing mechanism. OKEx CEO Jay Hao said that the fusing mechanism is difficult to implement in the digital currency market. In the face of a highly volatile market, setting the fuse point is a difficult problem. At the same time, for a 7 * 24h market, when a certain exchange breaks down, the price difference between the digital currencies between the platforms will increase, leading to arbitrage, and the fuse mechanism will eventually become a decoration.
Du Wan, the co-founder of Contract Emperor, also said that it is unrealistic to use a fuse mechanism in the currency circle. The fusing mechanism first violates the original intention of the decentralization of the blockchain, and at the same time, it will touch the interests of the top of the currency circle ecological chain. For example, large trading teams can no longer use pins to obtain large profits. When the market is panic, exchanges with a fuse mechanism may lose traffic to exchanges without a fuse mechanism because of the run effect of traders.
It can be seen that the current risk aversion measures in the traditional stock market are difficult to transfer to the fickle currency market in a short time, and the regulation of this market still has a long way to go. Investors should still be cautious when investing.
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EDC Blockchain and ECRO System in the List of Major Blockchain Events 2019!

EDC Blockchain and ECRO System in the List of Major Blockchain Events 2019!
https://preview.redd.it/1n0i4hayx4a41.jpg?width=1307&format=pjpg&auto=webp&s=a1ddf95e43b81cacc10b29824c162c2d19bc2fc0
2019 showed that the Blockchain industry justifies the status of a technological revolution. Bitcoin's capitalization exceeded that of countries such as Turkey, Pakistan and South Africa. And China, India, and Nigeria have already bought cars, real estate and various services for an EDC coin!
Let's think about these and other events of last year, which had the greatest resonance.
Adoption of the cryptography law in China
Speculation and fiction are officially over! China at the state level said "yes" to Blockchain technology! The Chinese Communist Party now directly manages the Central Cryptography Agency. The agency will promote and support cryptography research, protect intellectual property rights and promote the development of public/private key technology, according to Primitive Foundation partner Dovey Wan.
Against this background, the Central Bank of China started talking about creating its own stablecoin, and Chinese President Xi Jinping said that the blockchain will be the main technology for important innovation breakthroughs! The Crypto market reacted instantly: bitcoin rose by more than $2000 in one week of October (from $7500 to $9500), while EDC quotations reached 1 US cents. The optimism then decreased again when it became clear that the Chinese are still fundamentally distinguishing between the notions of "Blockchain" and "Cryptocurrencies".
Bitcoin futures launch
On September 23, 2019, ICE Corporation (International Exchange) started trading daily and month bitcoin futures on the Bakkt platform.
The platform was officially approved by the U.S. Futures Trading Commission (CFTC), and bitcoin deposits of users are insured for $125 million.
The appearance of this platform was associated with certain expectations: the growth of bitcoin to $ 20,000, and the accession of institutional investors. As we already know, these forecasts did not come true, and the peak daily trading volume did not exceed $43 million. Nevertheless, the expectations from this news remain high: both the prestige and liquidity of the market can only improve.
Project Libra's failure
On June 18, the release of Facebook's own cryptographic currency called Libra was to be launched. By all primary signs, the coin could become a market favorite, and the project participants included Visa, Mastercard, eBay, and other major online platforms.
However, it did not work out: problems with regulators reached the hearings in the U.S. Congress, where Mark Zuckerberg himself had to personally promise that Libra will not be launched until all regulators approve of it, and Facebook may even leave the founders.
Project stoppage TON
GRAM Token from Telegram is another "loser" in the big games of life. The developers managed to make the initial offer (ICO) for 1.7 billion dollars and even presented a compiled test wallet. But the U.S. Securities and Exchange Commission (SEC) expressed confidence that GRAM at the token trading stage was sold illegally, falling under the definition of a security.
Now Pavel Durov is facing long legal proceedings, and the project is frozen for an indefinite period. This "triumph" of U.S. market regulators once again underscores the fact that big money at the stage of the birth of new players on the crypto market plays a much smaller role than the real value of coins and technology.
EDC Blockchain Coin constructor for entrepreneurs
Producers of goods and services and businessmen in various niches can now create their own bonus token or a full-fledged cryptographic currency using PoS mining without having at their disposal a team of IT professionals, ICO access opportunities or huge investments. Specialists of the EDC Blockchain platform offered the market a technological coin constructor and ready-made package solutions for the development of small and medium businesses.
It has never been easier to token and scale any project or startup. The constructor is available to all users of the EDC platform, which offers customers a number of bonuses (for example, an automatic listing of new coins on partner exchanges, marketing support and advertising at the level of its international community). A real step forward in business tokenization.
Start of a self-contained blockchain ecosystem ECRO System
Specialists of ECRO Chain Holding, under whose leadership ECRO System projects function, were able to create a "bridge" between the crypto industry and real business.
ECRO System provides an environment for cooperation between manufacturers, sellers and consumers anywhere in the world, including global marketplace, exchange, trading platform, a launching platform for startups, additional services and even an academy for educational purposes. In a global eco-system using a blockchain, a variety of goods and services are safely sold and purchased, any coins are exchanged conveniently and quickly, and new technology projects are made possible. And the ecosystem is expanding geographically by training its own marketers. Application of blockchain, technologies of an artificial intellect, a crypto-merchant allow ECRO System to create conditions for the reliable digital economy.
Crypto trading authorization for German banks
The Bundesrat passed a law allowing German banking institutions to officially sell and buy cryptocurrencies. Discussions in financial circles are still ongoing, as confidential transfers open up space for illegal transactions and money laundering. But the fact is that Vice-Chancellor of Germany Olaf Scholz advocated the creation of a national digital currency, and Sven Hildebrandt, head of the consulting company DLC, is confident that Germany will become a "cryptocurrency paradise".
Official cooperation of Ukraine with Binance Crypto Exchange
Binance International exchange has signed an official memorandum on cooperation with the Ministry of Digital Transformation of Ukraine. Popularization and legalization of the cryptographic industry in Ukraine led to a sharp increase in the interest of global exchange and trading services to start working in one of the largest European countries.
On November 6, the Verkhovna Rada adopted a draft law on the implementation of FATF rules, which regulates all basic concepts and legal aspects of virtual assets that can be considered as property or can be used for payment and investment purposes.
The draft law on asset tokenization, which will allow private and public companies to conduct commercial transactions with their assets in the form of tokens or crypto-stocks, is under development.
We are living at the peak of historical technology development when the speed of real technical changes outpaces even the speed of human imagination. The year 2020 could be a "quantum leap" in cryptographic technology around the world.
The world economy, as well as small and medium businesses, seems to be best prepared for the wide range of opportunities offered by the Blockchain. The EDC Blockchain and ECRO System project teams will continue to develop their products and services in order to maximize the quality of life of modern people through blockchain innovations. We wish you a successful 2020 year filled with new technologies!
via https://blockchain.mn
#edcblockchain #cryptocurrency #global_platform #graphene #lpos #coin_constructor #masternode #leasing #edc #edccoin #edcmining
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