Welcome to another update about the crypto-world and our trading bot at the start of July, 2022. A lot has happened, yet again.
You are very well aware of the fact that the crypto market is fluctuating considerably. In the lasts few months there was a lot of hope but yet the price is continuing in a negative trend. Both analysts and influencers are talking about a possible crypto winter, and skeptics distrust the market. Still, the crypto market, usability of crypto and adoption continues to develop. In Europe, crypto is becoming more regulated and therefore more accepted. In the Netherlands, the first spot Bitcoin ETF on Euronext is soon available with the ticker BCOIN. Last but not least, successful exchanges like FTX are slowly taking over competitors with issues in order to broaden their marketshare.
Even during a downtrend there is a lot of opportunity to earn money on the market. Within a smaller timeframe, the price keeps going up and down, making entering and closing positions possible. Because the AI-algorithm is monitoring the Bitcoin- and- Alt-coin trading bot 24/7 these decisions are made in split seconds.
As a result hereof, we are proud to announce we’ve realized a little more than 1% profit on most of our accounts during the last month. Our intent is not to compare our service to the “competitors” out there, since our products reasonably differ. However, it is certainly worth mentioning that almost no other platforms have managed to provide their clients with green numbers.
July 2022 marks multiple primary events in Europe considering the Crypto-market. Both legislation and introduction to the oldest brick-and-mortar exchange in the world are happening right as we speak.
A digital management platform, which is based in London, is listing a Crypto-ETF on the Euronext Amsterdam exchange. This the first publicly-available crypto ETF in Europe. It is very probable to assume this will start a new stream of capital flowing into the Crypto-market. The issuer is Jacobi Asset Management, which lists the ETF will be with the ticker BCOIN. According to Bloomberg, this will remove the barrier for investment firms and ensure faster adoption of digital assets. As a result, prominent individuals will have less influence as investment funds create stability. This is good news! It confirms greater acceptance and accessibility by the wider population, starting this July.
Not everyone in the crypto-sphere is happy about these Crypto-ETF’s. When large organizations are in control of the underlying asset, in this case Bitcoin, the decentralized part of the system becomes more centralized. By putting money in a big management-platform there is a possibility for market-making tactics which might dupe consumers. However, certain discussions are a very common case with new innovations and in reality only add fuel to the fire in terms of spreading the news.
Regulation! It was never about the question “if” there would be regulation on crypto, but it was always the question “when” this would become reality. Europe has taken the first step towards protecting and guaranteeing civil rights, following multiple precarious event. Stablecoins such as the most popular one: USDT (Becryptive also uses this) will have stricter requirements in order to prevent mistakes leading to black-swan events. Stablecoins do now have to comply with strict rules such as maintaining their reserves to certain levels.
In addition there will be an immediate repayment right for holders of the specific stablecoin to protect these rights. The “MiCA-rules” are in place to ensure Crypto-service-providers are liable when assets are stolen. Besides the liability of the crypto service providers, market manipulation or insider trading will be addressed with this regulation, which is also favourable for confidence in the market; like earlier addressed, this might be one of the most trending issues with Crypto-ETF’s currently.
Nevertheless, the energy consumption of the various coins, which was one of the hot topics from an environmental perspective, is unfortunately not addressed. Also, the proof of work is not included in the MiCA regulation; which means citizens of the EU can still legally “mine” coins.
Still, Europe is in the lead regarding regulating digital assets, and it is expected that Europe has set the standard for the rest of the international rules that are still to come.
In the last paragraph we have discussed regulations to ensure enough capital exists within financial organizations so that they remain a liquid position. This is a fancy metric to ensure that, even when a unforeseen event should occur, the institution is able to ensure safe return of their client’s money, while also being able to pay their own bills. In the case of Europac Bank, started by the Dutchmen Peter Schiff, the liquid capital was not sufficient to ensure safe operations. This measurement resulted in the freezing and possible loss of all their client’s money.
While Peter Schiff is known for being pro-gold, he is also known for being a Bitcoin-critic. In his statement he told the press he did not know about the requirements that were set up by the government. Nor the alleged excess in negative liquidity. He also stated there was no warning issued by the government. Followed by a comment on how expensive the license-costs are for running a small bank.
While this set of problems has a lot of impact, these processes are relatively easily on the blockchain. For example solutions based on the Bitcoin-, Ethereum-, Solana-, Ripple- or Cardano-network.
Since the market fell, one of the fastest-growing exchanges in the world, FTX has bought shares in Blockfi. By doing so, FTX has taken a significant stake in the company. FTX has spend an amount of $25 million and a credit of $250 million. This is because the market fell and caused Blockfi liquidity-related risks. They ultimately had no choice but to let FTX take a stake in the company at a reduced price.
In addition to the stake and the credit loan, Sam Bankman-Fried has provided a loan to the crypto exchange Voyager; worth $500 million.
What will happen is, of course, a question that no one can answer. The market fluctuates constantly, but fortunately, we at Becryptive offer the software that helps you counter the downsides. We offer packages for safe trading and investing in cryptocurrencies. This is in cooperation with our official software provider, FRCST. Becryptive uses automated crypto “robots” that perform all trading for you. With this technology, we aim for positive monthly returns! Check out the performance history of the robots on our home page.
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