Market BuzzCryptocurrency Prices Today May 20: Bitcoin, ether recover, XRP up over 3%; Tether in red
The global crypto market cap rose 3.09 percent to $1.28 trillion on May 20 over the previous day. The total crypto market volume over the last 24 hours rose 0.57 percent to $82.19 billion. The total volume in DeFi stood at $7.42 billion, 9.03 percent of the total crypto market 24-hour volume. Bitcoin traded at Rs 24.48 lakh. The dominance of the world’s largest cryptocurrency increased marginally by 0.13 percent to 44.82 percent over the previous day, according to CoinMarketCap data. Read More Here.[/body
Policy Central[/title]People hesitant to buy crypto, lack of knowledge to blame: study[body]
With more than 100 million people globally using cryptocurrencies in 2021, the digital dollar has become a widely accepted way of saving and spending. Even so, says a new study, a lack of knowledge of cryptos, massive fluctuations in their value and a perception that digital currencies are part of a scam have prevented more people from investing in cryptos. Members of Gen Z, the generational cohort following the millennials and dubbed digital natives, say more government regulation and crypto law enforcement are most likely to convince them to buy cryptocurrencies, said a study by CouponFollow, a digital coupon company. Read more here.
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[quote]Crypto MarketThere’s more crypto destruction to come: Blockchain.com CEO
Cryptocurrency investors who experienced their first bout of crypto panic in recent weeks—witnessing the big bitcoin decline, the crash in stablecoins, the collapse of Luna, Terra and the fall from grace for Terraform Labs founder Do Kwon—better get used to it, according to Blockchain.com CEO Peter Smith. More pain is coming, more risk will be exposed but ultimately, it’s a good thing for the decentralised economy, Smith says. For the crypto investor, he says the lesson of the past few weeks should be back to the crypto equivalent of the traditional market investing concept of dollar-cost averaging—slowly building a position in an asset over time so all your money isn’t exposed to any single bout of volatility. Read more here.
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Crypto BuzzThis crypto winter will be long, cold and harsh
Bitcoin and other cryptocurrency assets are notoriously volatile, routinely suffering large drops of 50 percent or more. This doesn’t seem to bother the diehard believers in crypto too much, who have become used to declines of this magnitude. They simply use the decline to buy more. Even so, there are still a lot of people in the space who remember “crypto winter”, the period between early 2018 and mid-2020 when prices went down and stayed down, and much of the innovation in crypto came to a halt. So, the question is: What do we make of the recent gyrations in the space, with the Bloomberg Galaxy Crypto Index down some 60 percent from its peak in early November? Does this mark the beginning of a new, long winter after a short spring or is it just a pause that refreshes? Read more here.
