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Det är alltid bra att se bitcoin få ett nytt fan, och det är vad som verkar hända med JPMorgan, som på en gång styrdes av en man som inte brydde sig om kryptovalutan.

I ett pressmeddelande nyligen förklarade företaget varför Bitcoin Revolution var en bättre alternativ valuta än guld och varför den var mer beredd att konkurrera i den finansiella världen.
JPMorgan tycker mycket om BTC

JPMorgan är under kontroll av en man vid namn Jamie Dimon, som tidigare har sagt några ganska nedsättande saker om bitcoin och dess egenskaper. Dimon har tidigare hänvisat till bitcoin som ett bedrägeri, men det dröjde inte länge efter när han beställde utvecklingen av en ny kryptovaluta som specifikt drivs och drivs genom sitt företag. Det skulle kallas JPM Coin, och det var ett av de första exemplen på att en stor finansiell institution utfärdade sin egen digitala tillgång.

Nu, i ett nyligen skrivet, förklarade företaget att bitcoin har mycket att göra för det, och att det på många sätt överträffar guld. Brevet förklarar:

Till och med en blygsam trängning av guld som en ‚alternativ‘ valuta på längre sikt skulle innebära en fördubbling eller tredubbling av bitcoinpriset … Kryptovalutor får värde inte bara för att de fungerar som välfärdsbutiker utan också på grund av deras användbarhet som betalningsmedel. Ju fler ekonomiska agenter accepterar kryptovalutor som betalningsmedel i framtiden, desto högre är deras nytta och värde.

Orden antyder att med tiden kommer fler företag och individer att se bitcoin som ett sätt att säkra sin förmögenhet mot ekonomiska problem och att köpa både varor och tjänster. Beviljas att detta fortsätter att hända, priserna på bitcoin och dess altcoin-kusiner kommer att fortsätta att lysa.

Vi ser redan bevis på detta genom att PayPal nyligen meddelade att användare kunde köpa objekt med bitcoin via sin plattform, och som ett resultat har valutan nått 13 000 dollar för första gången på över ett år.
Millennials kommer att spela en viktig roll

Dessutom säger JPMorgan att bitcoin har en stor fördel jämfört med guld genom att det är mer attraktivt för årtusenden, vilket företaget säger kommer verkligen att driva adoption i framtiden. Brevet lyder:

Den potentiella långsiktiga uppåtriktningen för bitcoin är betydande eftersom den konkurrerar mer intensivt med guld som en ”alternativ” valuta som vi tror, ​​med tanke på att tusenåriga med tiden skulle bli en viktigare komponent i investerarnas universum.

Detta är ett argument vi har hört tidigare och det är spännande att se JPMorgan bekräfta det. Faktum är att årtusenden har vuxit upp under tiden för den stora lågkonjunkturen och därmed inte ser banker i samma ljus som sina äldre motsvarigheter. De litar inte på vanliga finansinstitut som andra kan, och ser därmed bitcoin som ett starkare sätt att upprätthålla ekonomiskt oberoende

Unfoldings of the BitMEX case do not indicate massive sales, although BTC/USD approaches $11,500, show CryptoQuant data.

A potential Bitcoin (BTC) settlement followed by a price drop „should not happen,“ according to the CEO of a well-known analysis tool.

In a tweet on October 12, Ki Young Ju, CEO of CryptoQuant, noted that the flow of entries to the exchanges remains low despite BTC’s price gains.

BitMEX Operator Hires Director of Compliance Amid Criminal Charges in U.S.

Ki: Flows of exchanges „continue in the safe zone

Ki highlighted CryptoQuant’s average exchange rate inflow metric, which remains comfortably within the low risk area, suggesting a low chance of liquidation.

The average exchange inflow measures how much Bitcoin is entering the exchanges, taking into account that the currency is used for sales or trading activities. By extension, it gives an idea of the activity of the whales – high-volume hodlers planning to dispose of the BTC.

Bitcoins from BitMEX can be marked as „high risk“ in Brazil

„The $BTC dumping will not happen,“ Ki commented.

„The average entry of all exchanges usually indicates how many whales are active in the exchanges. Above 2 BTC is the danger zone, and we are still in the safe zone. ”

• Therefore, the rise in the BTC/USD pair to close to $11,500 this week has not increased the temptation for investors to sell.
• Bitcoin mean inflows vs. BTC/USD 1-month chart
• Average Bitcoin flows vs. 1-month BTC / USD chart. Source: Ki Young Ju/ Twitter

The lack of activity contrasts strongly with the beginning of this year. On March 9, a week before the coronavirus caused a drop in the price of crossed assets, the exchanges entries passed the „danger zone“ of 2 BTC. Days later, around March 14, the entries reached a peak of almost 5 BTC. Bitcoin subsequently dropped to $3,600.

Sales pressure at BitMEX?

CryptoQuant also previously highlighted the miner flows that contribute to the Bitcoin price action. Last month, it was an increase in flows from mining pools, also presumably destined for sale, that followed a 3% drop in BTC/USD.

In October, the outlook for withdrawals was affected by BitMEX, as the derivatives giant is currently under investigation by US tax authorities. BitMEX outflows totaled 50,000 BTC on October 2 alone, the CryptoQuant data show.

BitMEX inflows and outflows chart

The numbers of BitMEX, Cointelegraph and Digital Assets Data confirm that it does not hold as much market share for Bitcoin futures as it did in the past.

Bitcoin futures volume exchange comparison 1-month chart

1 month chart for comparing the volume of Bitcoin futures. Source: Cointelegraph/ Digital Assets Data

BitMEX actions can scare away big institutions, says former CBOE trader

As several analysts have noted, Bitcoin therefore largely weathered the storm caused by the platform problems, beating resistance levels by $11,000.

This resilience encouraged Bitcoin’s bullish case, as published by the Cointelegraph, with an increasing number of market participants confident of further gains preceding further losses.

La principale plate-forme d’échange de dérivés de crypto-monnaie BitMEX est actuellement confrontée à une foule d’accusations criminelles du gouvernement des États-Unis. Alors que la bourse basée aux Seychelles a nié tout acte répréhensible, les scandales semblent lui faire saigner les clients.

Les commerçants d’Antsy en mouvement

Selon les données de Glassnode, les commerçants ont retiré environ 45000 jetons BTC (d’une valeur d’environ 420 millions de dollars) de l’échange depuis le début de sa dispute avec le gouvernement américain. La société de suivi des données de la blockchain avait précédemment souligné que BitMEX avait perdu 23200 BTC (environ 243 millions de dollars) en une seule heure, marquant le flux horaire le plus massif jamais enregistré par l’échange.

Comme l’a ajouté Glassnode, les portefeuilles Bitcoin Superstar contenaient initialement environ 170,00 BBTC (d’une valeur d’environ 1,8 milliard de dollars). Cette importante sortie d’actifs nuira sans aucun doute à l’entreprise.

Parallèlement aux sorties, les positions ouvertes sur les contrats à terme Bitcoin en bourse ont chuté de 20%, selon les données de la société d’analyse de marché Skew. En raison de la baisse des actifs, il est fort probable que le dossier d’accusation du gouvernement ait causé ce coup pour ouvrir des positions.

Les données de Crystal Blockchain ont corroboré le rapport Glassnode, expliquant que les sorties nettes de BitMEX continuent d’augmenter. La société d’analyse de données a également postulé que Huobi, Binance, OKEx et Gemini avaient été les plus grands bénéficiaires de la fuite des investisseurs. À eux seuls, les quatre échanges auraient absorbé 20 000 BTC des actifs transférés.

Les choses pourraient devenir désordonnées

Les baisses de métriques proviennent d’une charge BitMEX importante qui a chuté plus tôt ce mois-ci. Le 1er octobre, la Commodity Futures Trading Commission (CFTC) des États-Unis a déposé une plainte contre la bourse basée aux Seychelles, l’accusant d’exploiter une plate-forme de négociation non enregistrée et de violer les violations de la lutte contre le blanchiment d’argent (AML).

Le dossier, qui a été déposé dans le district sud de New York, a nommé cinq entités et trois personnes qui possèdent l’échange. Ils incluent Arthur Hayes, PDG de BitMEX, Samuel Reed et Ben Delo. Les autres entités comprennent HDR Global Services (Bermuda) Limited (BitMEX), ABS Global Trading Limited, HRD Global Trading Limited, Shine Effort Inc. et 100x Holding Limited.

Comme la Commission l’a expliqué, elle estime que BitMEX offrait illégalement des services de trading à effet de levier aux commerçants. Depuis sa création en 2014, la bourse aurait proposé un trading à effet de levier à hauteur de 1 billion de dollars. Il a également accusé BitMEX d’avoir violé les procédures de conformité de base, y compris le non-enregistrement auprès des autorités et l’absence de procédures AML et Know-Your-Customer (KYC).

L’agence a confirmé la demande de restitution, de sanctions pécuniaires civiles, d’interdictions commerciales permanentes et d’injonctions contre de futures violations. Outre les accusations, la Cour a également inculpé les trois personnes susmentionnées – ainsi que le responsable du développement commercial de BitMEX, Gregory Dwyer – d’avoir violé la loi sur le secret bancaire. S’ils sont reconnus coupables, ils risquent chacun cinq ans de prison et payer des amendes d’environ 250 000 dollars.

Le directeur adjoint du FBI, William Sweeney, a affirmé que l’un des dirigeants de la société s’était vanté que la société était constituée dans une juridiction en dehors des États-Unis, car il serait facile de corrompre leurs régulateurs. Le ministère de la Justice a confirmé dans un communiqué que Reed avait été arrêté jeudi matin dans le Massachusetts. Les autres dirigeants de l’entreprise sont toujours en liberté.

Negative balance was caused by expenditure linked to the pandemic

Public accounts recorded record negative balances in August, due to the extraordinary expenditure needed to deal with the covid-19 pandemic. The consolidated public sector, made up of the Union, states and municipalities, presented a primary deficit of R$ 87.594 billion last month, the highest negative result for the month of the historical series begun in December 2001. In August 2019, the primary deficit was R$ 13.448 billion. The data were released today (30) by the Central Bank (BC).

According to the head of the Central Bank’s Statistics Department, Fernando Rocha, this result was already expected due to the growth in expenditure linked to the covid-19 pandemic. On the other hand, in the year-on-year comparison, according to him, there was a 5.8 per cent increase in revenues. „This shows that the period of tax deferral is already ending and even the evolution of economic activity itself, with the reduction of social distance, is beginning to normalise more,“ he said.

The primary deficit represents the negative result of the public sector accounts, disregarding the payment of interest on public debt. The amount differs from the result released yesterday (30) by the National Treasury, of a deficit of R$96.096 billion in August, because, in addition to considering local and state governments, the Central Bank uses a different methodology, which considers the variation in the debt of public entities.

Last month, the Central Government (Social Security, Central Bank and National Treasury) presented a primary deficit of R$96.471 billion, compared to R$16.459 billion in August 2019. State governments registered a surplus of R$ 8.308 billion. In the same month last year, the surplus was R$ 2.269 billion.

Municipal governments registered a surplus of R$ 788 million in August this year. Last year, the surplus was R$ 388 million. Federal, state and municipal state companies, excluding those of Petrobras and Eletrobras, recorded a primary deficit of R$219 million last month.

According to Rocha, there was a reduction in regular transfers from the Union to states and municipalities – from R$ 23.2 billion in August 2019 to R$ 19.3 billion in August 2020. However, this positive result from local governments was due to transfers to confront covid-19, which in August this year reached R$ 15 billion.

„Together, in the consolidated public sector, the result of these transfers is neutral. But when you look at it individually, it contributes to an increase in central government spending and a decrease in the deficit, or, in this case, an increase in the surplus in the sphere of regional governments,“ he explained.

From January to August, the primary deficit reached R$571.367 billion (US$571.367 billion), against the negative result of R$21.950 billion (US$21.950 billion) in the same period of 2019. In the 12 months ended in August, the primary deficit stood at R$611.289 billion, which represents 8.50% of the Gross Domestic Product (GDP, the sum of all goods and services produced in the country).

The target for this year was a primary deficit of R$ 118.9 billion. However, the public calamity decree exempted the government from meeting the target.

Interest Expenditure

Interest expenses stood at R$34.285 billion in August, compared to R$50.197 billion in the same month of 2019. The reduction in interest expenses was due to the influence of the Central Bank’s operations on the foreign exchange market (swap). The results of these operations are transferred to the payment of interest on the public debt.

If compared with last month, however, the result for August was higher. In July, interest expenses were $5.838 billion. According to Rocha, this happened because in July, there were gains of R$ 16.3 billion with swap, already in August the result was opposite, with losses of 14.3 billion.

In the first eight months of the year, these interest expenses accumulated R$ 213.736 billion, compared to R$ 258.808 billion in the same period last year.

In August, the nominal deficit, formed by the primary result and interest expenses, stood at R$ 121.879 billion, against the negative result of R$ 63.644 billion in the same month of 2019. In the seven-month period of the year, the nominal deficit reached R$ 785.103 billion, against R$ 280.759 billion in the same period of 2019.

Public debt

Net public sector debt (the balance of total credits and debts of the federal, state and municipal governments) reached R$ 4.367 trillion in August, or 60.7% of GDP, the second highest percentage in the historical series of the Central Bank, which began in December 2001. The first was in September 2002, when net debt reached 62.4% of GDP. In July this year, that percentage was 60.1%.

In August, the gross debt – which only includes the liabilities of the federal, state and municipal governments – reached R$ 6.389 trillion, or 88.8% of GDP, against 86.4% in July of this year. This is the highest percentage in the historical series of the Central Bank, which began in December 2006.

Cena bitcoina spadła o 4% po tym, jak CFTC ujawniło zarzuty wobec BitMEX, ale BTC pozostaje zwyżkowy w długim okresie.

W ciągu ostatnich kilku godzin cena Bitcoin ( BTC ) gwałtownie spadła, gdy amerykańska Komisja ds. Handlu Towarami i Kontraktami Terminowymi (CFTC) obciążyła BitMEX za ułatwienie prania pieniędzy i prowadzenie nielegalnej giełdy pochodnych kryptowalut.

Jeszcze większy szok nastąpił, gdy władze ogłosiły aresztowanie Samuela Reeda, jednego ze współzałożycieli BitMEX

BitMEX był od dawna najbardziej dominującą giełdą futures na Bitcoin, przynajmniej do marca 2020 r., Kiedy to ogromna likwidacja Czarnego Czwartku o wartości 1 miliarda dolarów spowodowała, że ​​cena spadła poniżej 3750 USD. W ostatnich miesiącach nowi konkurenci, tacy jak Binance Futures i ByBit, znacznie zwiększyli swój udział w rynku.

Chociaż branża spodziewała się, że pewnego dnia pojawią się zarzuty przeciwko BitMEX , aresztowanie Reeda jest nieoczekiwaną niespodzianką. Natychmiast po ogłoszeniu wiadomości cena BTC spadła z 10883 USD do 10437 USD, co oznacza spadek o 4,11%.

Na szczęście istnieje kilka czynników, które mogą pomóc w odzyskaniu Bitcoina w krótkim okresie. Katalizatorami są krótki czas trwania bieżącej korekty, poprzednie reakcje Bitcoina na zagrożenia regulacyjne oraz utrzymywane w tej chwili wsparcie w wysokości 10500 USD.

Bitcoin widzi szybki i intensywny spadek w krótkim okresie

Cena Bitcoina spadła o ponad 4% w ciągu dwóch godzin, poziomu zmienności, którego zwykle nie widać.

Zwykle gdy Bitcoin spada z taką intensywnością, powoduje to kaskadę likwidacji. Ponieważ wiele transakcji na rynku kontraktów terminowych jest wysoce lewarowanych, prowadzi to do pętli likwidacji długich kontraktów, co skutkuje większym spadkiem.

Tym razem otwarte zainteresowanie i wolumen na rynku kontraktów terminowych są znacznie niższe. Na rynku jest mniej aktywnie otwartych transakcji z nadmierną dźwignią, co zmniejsza prawdopodobieństwo ogromnej korekty.

Historia pokazuje, że spowolnienia wywołane regulacjami są punktami poprawy

Przez lata rynek kryptowalut przetrwał wiele negatywnych działań regulacyjnych wprowadzonych przez rządy na całym świecie, ale, jak mówi badacz Bitcoin, Vijay Boyapati, BTC silnie odzyskało równowagę po każdym z nich.

Chociaż oskarżenie przeciwko BitMEX może mieć krótkoterminowe konsekwencje niedźwiedzi, w dłuższej perspektywie Boyapati powiedział, że prawdopodobne jest ożywienie. On powiedział :

„Rynek bitcoinów zawsze reagował negatywnie na poważne problemy z wymianą lub konfiskaty rządowe. Historycznie rzecz biorąc, zawsze stanowiło to doskonałą okazję do zakupu Bitcoinów. Działania Departamentu Sprawiedliwości przeciwko BitMEX nie będą się różnić. ”

He prefers to invest his money elsewhere.

When faced with a choice between blockchain and traditional investments, things could look better in the stock market, according to Peter Brandt, CEO of trading firm Factor LLC. However, he added that it would depend on the choice of base currency.

Brandt made it clear that he had mainly switched to the US dollar when considering his next steps

„At the moment, I think that the opportunities in the stock market are greater than in the crypto market,“ he told Cointelegraph on September 9th.

„I just can’t imagine really speculating with crypto,“ Brandt continued. He traced this mindset back to his generation. Brandt has been in traditional market trading since 1976, building Factor LLC in 1980, decades before the invention of blockchain assets.

„I belong to a generation that defines their wealth in US dollars,“ said Brandt. He described the US dollar as his standard method for storing wealth. „‚For a lot of the younger generation, the home currency is Bitcoin System or whatever. I mean, whatever their house stone is.“

He was referring to a fad from the 1970s where people paid money for stones and they were sold in boxes as pets

“ Stacking Sats “ is a term from the crypto area. This means that people keep their assets in Bitcoin while investing trade and other profits back into Bitcoin to keep them longer term. Most of the industry also views the asset as a hedge or store of value . This indicates a possible generation change away from the US dollar. This has been the leading store of value in the past decades.

„I’m keeping a low profile and looking for opportunities,“ said Brandt, referring to his current attitude. „I currently see greater opportunities in selective stocks, not in the broad market, but in selected stocks. I see these less in crypto.“

In 2020 , mainstream assets have skyrocketed. Brandt’s view therefore coincides with the current stock market atmosphere.

Cryptocurrency-investeringsselskapet Digital Currency Group vil helle 100 millioner dollar i det nyervervede datterselskapet Bitcoin gruvekapital og rådgivende tjenesteleverandør Foundry .

Den nyheten ble avslørt 27. august på en rekke plattformer, med Digital Currency konsernsjef Barry Silbert gjøre kunngjøringen på sin personlige Twitter-profil mens proklamerte at gruppen kan ha blitt den største gruveselskapet i Nord-Amerika i kjølvannet av oppkjøpet.

Støperi har kjørt rolig siden 2019 og har til hensikt å tilby ‚institusjonell kompetanse, kapital og markedsinformasjon‘ til cryptocurrency gruvearbeidere og produsenter. Selskapet vil tilby tre forskjellige tjenester til gruveøkosystemet som inkluderer anskaffelse og finansiering av utstyr, gruvedrift og innsats samt rådgivning og rådgivning.

I pressemeldingen heter det at Foundry allerede er blant de største Bitcoin Future gruveoperatørene i Amerika og har også utvidet finansiering til andre gruvedrift, til en mengde av titalls millioner dollar, for å anskaffe Bitcoin-gruvedrift i 2020.

Digital Currency Group er også morselskapet til Grayscale Investments som har etablert seg som den globale lederen innen cryptocurrency investering og eiendeler. Grayscales Bitcoin Trust er for tiden verdsatt til over $ 3,5 milliarder kroner.

Gjør Crypto America Great Again

Et av de viktigste målene som ble bedømt av de forskjellige virksomhetslederne som er involvert i dannelsen av støperi, er å øke USAs gruvedrift.

Mike Colyer vil fungere som administrerende direktør for Foundry og bringer mye erfaring til rollen som en tidligere leder av Blockchain og AI-firmaet Core Scientific. Colyer sier at selskapet håper å bidra til et mer desentralisert gruveøkosystem over hele verden:

„Vi ønsker å styrke desentralisert infrastruktur i den nye digitale økonomien, og vårt arbeid vil støtte utvikling og vekst av gruvedrift – spesielt i Nord-Amerika. Vi er en virksomhet bygget av gruvearbeidere for gruvearbeidere, og vi samarbeider med gründere som deler vårt oppdrag om å fremme industrien og skape et desentralisert gruveøkosystem.

Silbert ekko Colyers følelser ved å gjenta at Foundry fokus vil være på å bygge og støtte veksten i gruvedrift og innsatsindustri i kryptovaluta i Vesten.

“Vår oppgave i DCG er å akselerere utviklingen av et bedre finanssystem. Digital gruvedrift og innsats gir ryggraden i blockchain-teknologien som vil drive den fremgangen. Støperi bringer viktige ressurser og veiledning til et viktig hjørne av bransjen, og Mike Colyer og teamet hans har kompetanse, troverdighet og integritet for å støtte de gruvearbeiders og produsenters nye behov. ”

Gruveprodusenter som ønsker å utvide horisonten

Produsenter av gruveutstyr ser også ut til å glede seg over å utvide forsyningslinjene over hele verden og spesielt til Amerika.

Jordan Chen, som er COO for produsenter av gruvedriftutstyr fra Bitcoin, sa MicroBT at selskapets ekspansjon til Amerika har blitt drevet av partnerskapet med Digital Currency Group.

Bitmain har også signert en rekke av tilbudene for å levere sin nyeste Bitcoin gruveutstyr til Amerika selskaper i 2020. Bitmain globale salgs- og markedsdirektør i Antminer Su Ke sa at Foundry har spilt en avgjørende rolle i å legge til rette for salg av hardware til amerikanske bedrifter:

“Gjennom Foundrys arbeid og økonomiske støtte fra sluttkundene våre har vi klart å sende et betydelig antall maskiner til USA i år. Støytes institusjonelle tjenester for nordamerikanske bedrifter og teamets kompetanse har spilt en nøkkelrolle i å få dette til. ”