Whales influence price to make profit with derivatives
The current price for one Bitcoin (BTC) is currently $10,600.11.
That’s -0.14% more than 24 hours ago. If you want to buy bitcoin for $100 now, you will get about 0.0094 BTC for this.
The total market cap is $196,219,696,221.00 with a circulation of 18,511,100 BTC.
This startup wants to make the notary redundant with application on Bitcoin
Bitcoin is decentralized money and the blockchain is a general ledger of payments. A French startup uses the Bitcoin blockchain in such a way that it makes a notary unnecessary.
Woleet has been quietly working on a document verification platform DocuSign for the past four years. Last month they published the front-end of the application. In recent years, they had already sold the Application Programming Interfaces (API) for their software.
But what is DocuSign? The idea is to use Bitcoin’s irreversible and decentralized logbook to record legally binding contracts. Buying 1000 euros of Bitcoin without commission?
In the Bitcoin market, price manipulation is still the order of the day. Whales pump or dump the price on the spot market to take advantage of it on the futures exchanges. That’s what Ilan Sterk, analyst at the Orbs Group and Alef Bit Technologies, says.
He did extensive research into manipulation of the Bitcoin price. In the months of May to September 2020, a striking price movement took place at least 22 times, according to him. The most famous is the dip on March 12th, known as Black Thursday.
Billionaire comes up with advice: Don’t focus on the Bitcoin price action (BTC).
Chamath Palihapitiya advises people to invest in Bitcoin, but urges them to look less at the daily price. Palihapitiya is an early investor in Facebook and even bought 1 million BTC in 2013.
The entrepreneur and investor is now a billionaire and may be easy to talk about, but he doesn’t think the focus on price is good for bitcoin.
Palihapitiya was active at Facebook and is now CEO of Social Capital and he is Chairman of the Board of Virgin Galactic.