April 9, 2019

Crypto Bull Tom Lee Believes Whales Spiked the Bitcoin Price

Crypto Bull Tom Lee Believes Whales Spiked the bitcoin Price

April 9, 2019 by Akshay Makadiya

Wall Street-famed bitcoin bull Tom Lee believes that the recent bitcoin price breakout, where its price surged 17 percent in 30 minutes, was due to the resurgence of crypto whales. In light of that re-emergence, Lee said bitcoin is now in a bull market.

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Whales Are Back in Action

Lee, the managing partner at Fundstrat Global Advisors, broke with tradition about bitcoin’s recent bull trend on Bloomberg’s flagship markets program, ‘What’d You Miss?’

Speaking to the publication, Lee claimed that crypto OGs, often referred to in the crypto space as whales, are likely behind the recent action that sprung the bitcoin price from $4,150 USD to $5,300.

He claimed whales have started accumulating once again after remaining mostly inactive during the year-long crypto winter.

“We have had evidence that what they call OG’s, you know or the whales – the original holders of crypto, are starting to accumulate again,” said Lee.

When asked whether any hints suggested bitcoin will enter the bull market, Lee opined that there were some clues pointing to growing bullish momentum, such as growth in emerging markets and a weakened US dollar.

Crypto Market U-Turns

When asked why there has been a sudden shift in sentiment, Lee replied that bitcoin, world’s largest cryptocurrency by market cap, has closed above the 200-day moving average. This suggests the market has turned towards a bull trend.

Meanwhile, some independent analysts suggest that the recent spike in the bitcoin price is due to washing trading and algorithm funds.

Gavin Brown, a senior lecturer in Financial Economics at Manchester Metropolitan University, told Forbes that crypto exchanges are using bots to pump volume and attract real investors.

“The more liquidity an exchange appears to have, the more appealing it becomes to investors, this is simple buying psychology,” said Brown.

Lee, however, is convinced the recent rally was based on “true buying” from real investors.

Has bitcoin really entered a new bull market? Share your views in the comments section.

Images via CNBC, Upfront Ventures

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Published at Tue, 09 Apr 2019 21:05:09 +0000

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March 23, 2017

Brave Browser Creates Ad Platform Using New Ethereum Token

The Brave internet browser has changed the way people around the world use the Internet by making made browsing faster and safer in addition to integrating bitcoin’s peer-to-peer value to many new users and new wallets. Now, Brave takes another step into changing the online Internet experience by creating a new ad platform using a new digital token based on Ethereum technology.

Brave is very focused on improving the online experience, and this new token-based system called BAT (Basic Attention Token) has multiple benefits for users, advertisers, and online publishers. Integrating BAT with blockchain technology ensures user anonymity and fairness while using Ethereum gives them experienced support from a market leader in smart contract technology.

This is the second major partnership for Ethereum in as many months, following their announcement of the Enterprise Ethereum Alliance in New York a few weeks ago. Fortune 100 corporations like Intel, Microsoft, and J.P. Morgan have agreed to use Ethereum to expand their fintech and smart contract aspirations through Ethereum’s platform.

Brave CEO Brendan Eich told Bitcoinist:

We need the smart contract support in Ethereum…Smart contracts to implement tokens are proven there, with lots of precedents. bitcoin does not support smart contracts. We used ETH since that is where the token launches and predicate smart contract work needed for them has been done.

Users will opt-in to receive advertising. If they do, their attention will be privately monitored on-device in the Brave browser, without tracking. Publishers will be rewarded accordingly with BATs, which are tokens of exchange in a secure, private, and anonymous advertising system based on the browser and the mobile app web view.

Users will also get a share of BATs for participating. BAT keeps the data on the device, encrypts the data, and shields the identities of Brave’s users.

BAT BRINGS EVERYONE VALUE

The BAT token helps serve each user in the model in different ways. For the online user, they get enhanced privacy and security when introduced to an ad. The ads are more relevant and they get BAT tokens.

Advertisers get more targeted ads, higher revenue and less fraud in the ad system. Online publishers enjoy less expensive customer attention, less fraud, and better attribution.

You can see the BAT whitepaper here. Brave will be offering a BAT crowd sale in the near future and will have a scheduled roll-out for the new platform in three phases throughout 2017. For notifications of these Brave updates, head to their dedicated BAT token website.

How will Brave’s BAT project affect the future of online advertising? Let us know what you think below.

Images courtesy of Brave, Basic Attention Token, AdobeStock

The post Brave Browser Creates Ad Platform Using New Ethereum Token appeared first on Bitcoinist.com.

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