A survey made in Uruguay across different business sectors revealed that 24% of the 49 senior executives (1 in 4) from companies in the country claimed to have used cryptocurrencies at any point in their lives. Senior Executives in Uruguay Reveal Their Level of Knowledge on Cryptocurrencies According to the consulting firm Price Waterhouse Cooper, […] The post Survey: 1 in 4 Senior Executives in Uruguay Have Used Cryptocurrencies appeared first on Bitcoin News. Standard Chartered Bank CEO Bill Winters sees the adoption of digital currencies as “absolutely inevitable.” He says there is a role for both private digital currencies and state-backed ones. His bank subsequently announces that it is launching a crypto custody service, supporting a number of cryptocurrencies including bitcoin, bitcoin cash, and ethereum. Bitcoin bulls are working hard to nurture a bullish trend from the support at $18,500. Bitcoin’s rally back to $19,000 could improve market sentiment and push select altcoins higher this week. Source link 2020 has been a year of ups and downs. With Covid-19 affecting every strata of society and disrupting the way of life as we know and introducing a “new normal,” the ripples were bound to be observed in the cryptocurrency market, too. While the pandemic came with its own share of casualties, it came with … The Ethereum (ETH) needs to pull above the $600 resistance level quickly so as to deny the bears the opportunity to enter.
A survey made in Uruguay across different business sectors revealed that 24% of the 49 senior executives (1 in 4) from companies in the country claimed to have used cryptocurrencies at any point in their lives.
According to the consulting firm Price Waterhouse Cooper, the survey was conducted to measure the knowledge on crypto assets among senior executives from the sectors of banking and finance, technology, public services, industrial products, and public administration in Uruguay.
The results revealed that 76% of the surveyed executives claimed to have not crypto assets nowadays.
Among the data gathered by the firm include that 42% of people interviewed obtained cryptocurrencies by acquiring them from other people, 33% of them from exchanged, and 25% got them as a result of crypto mining.
Price Waterhouse Cooper detailed in its study what are the main risks that surveyed executives pointed out when asked about their reluctance to use cryptocurrencies:
43% of executives who did not have cryptocurrencies affirm that the main barrier responds to the risks linked to this asset class. The main risks are volatility, cybersecurity, and operational risk in handling private keys. The second reason (24%) is the lack of knowledge of how to acquire them, despite having an interest in doing so, followed by the absence of regulation and insufficient interest, both with 16%.
On stablecoins, the survey unveiled that 1 in 2 (73%) executives will use them as exchange money when making a purchase, as they see such assets as a safer way to handle crypto assets in the midst of a volatile environment that cryptocurrencies show.
Other of the survey findings revealed that 69% of the participants forecast that in five years, they’ll be able to use digital assets backed by the governments. Still, 70% of the executives believe they need more information to get familiar with blockchain to adapt their companies’ processes to the emerging technology trends.
What are your thoughts on the survey’s findings? Let us know in the comments section below.
The post Survey: 1 in 4 Senior Executives in Uruguay Have Used Cryptocurrencies appeared first on Bitcoin News.
Author: By TeamMMG
‘Absolutely Inevitable’: Standard Chartered Bank CEO Sees Widespread Cryptocurrency Adoption | News Bitcoin News
Standard Chartered Bank CEO Bill Winters sees the adoption of digital currencies as “absolutely inevitable.” He says there is a role for both private digital currencies and state-backed ones. His bank subsequently announces that it is launching a crypto custody service, supporting a number of cryptocurrencies including bitcoin, bitcoin cash, and ethereum.
The chief executive officer of Standard Chartered, Bill Winters, shared his views on digital currencies at Singapore’s annual Fintech Festival this week. Headquartered in London, Standard Chartered is a large British financial services company with about 1,026 branches worldwide.
Winters was appointed Group Chief Executive of Standard Chartered PLC in June 2015 and Chief Executive of Standard Chartered Bank in April last year. Beginning his career with JP Morgan, he previously served as an advisor to the British Parliamentary Commission on Banking Standards.
The Standard Chartered Bank CEO was quoted by CNBC as saying on Monday:
I think there is absolutely a role for central bank digital currencies as well as non-central bank-sponsored digital currencies.
He noted that the digital currency rollout would be led by both private and government-backed entities, adding that his bank will soon announce some news “along these lines.”
Following his comments, Standard Chartered announced Wednesday that it has partnered with asset servicing provider Northern Trust to launch a cryptocurrency custodian service for institutional investors. The platform plans to support bitcoin, ethereum, XRP, litecoin, and bitcoin cash.
Winters further explained at the Fintech Festival that he sees the biggest opportunity in digital currencies in “new, niche segments that don’t replicate existing fiat currencies,” the news outlet conveyed. “The really interesting development for me is to have currencies that don’t match a currency in and of itself, but are intended to capture either a superset of a subset,” the CEO described.
Winters gave an example that digital currencies could be created for specific projects, such as trading in the voluntary carbon market, and users can be confident that the financing behind them is “verified, standardized, [and] monitored.”
He emphasized: “Those sorts of applications for a digital currency, and creating a digital currency ecosystem, is something that can’t be replicated by a fiat currency, or, most likely, by a central bank digital currency any time soon … I think there is a whole new world that’s opening up for us.”
Do you agree with Standard Chartered’s CEO? Let us know in the comments section below.
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Bitcoin Price Prediction: BTC/USD Stays Above $19,200; Bulls Struggling To Conquer $19,500
Bitcoin (BTC) Price Prediction – December 13
Bitcoin bulls are working hard to nurture a bullish trend from the support at $18,500.
Resistance Levels: $21,000, $21,200, $21,400
Support Levels: $17,300, $17,100, $16,900
BTC/USD is currently trading 2.52% higher on the day. The Bitcoin price opened the session at $18,821 and now adjusting upwards to the prevailing market value of $19,388. The current market movement implies that the market price may stay range-bound during the next few days as the coin moves above 9-day and 21-day moving averages. Meanwhile, the technical indicator RSI (14) may cross above the 60-level.
At the opening of the market today, after testing the low of $18,730, BTC/USD is currently trading at $19,295. Meanwhile, looking at the market movement, there is likely that the market may experience a quick bullish rally to the crucial $20,000, and traders may see $18,800 to $19,000 being tested again before pushing higher.
Looking at the downside, should in case the market decides to fall, the price of Bitcoin could fall below the moving averages at $18,500, and if that support fails to hold the sell-off, traders could see a further decline below the lower boundary of the channel and towards the support levels of $17,300, $17,100 and critically $16,800. All the same, any further bullish movement towards the upper boundary of the channel may hit the resistances at $21,000, $21,200, and $21,400.
According to the 4-hour chart, the Bitcoin price first went up but has dropped slightly within 24 hours. If the price continues to drop further and move below the 9-day moving average, it could reach the nearest support levels at $18,600, $18,400, and $18,200 respectively.
Moreover, if the bulls push the coin above the upper boundary of the channel, the price of Bitcoin may likely reach the potential resistance levels of $20,000, $20,200, and $20,400. Presently, the market is indecisive as the RSI (14) indicator moves around the 63-level.
Author: FOLLOW ON
Top 5 cryptocurrencies to watch this week: BTC, ETH, XMR, XEM, AAVE
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Bitcoin’s rally back to $19,000 could improve market sentiment and push select altcoins higher this week.
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What is the mood of India when it comes to cryptocurrencies?
2020 has been a year of ups and downs. With Covid-19 affecting every strata of society and disrupting the way of life as we know and introducing a “new normal,” the ripples were bound to be observed in the cryptocurrency market, too.
While the pandemic came with its own share of casualties, it came with a silver lining. The pandemic saw an exponential rise in interest in cryptocurrencies, among Indians who were intrigued and fascinated, ever since the Supreme Court judgement overturned the Reserve Bank of India’s banking ban.CoinDCX saw a great number of users, shortly after the Supreme Court judgement in March this year, when we started our #TryCrypto movement to onboard 50 million Indians into crypto. Within the first 50 days, we saw 50,000 Indians onboard our platform. In Q1 we saw 10x growth in signups, 47% growth in trading volume, $10-15 million in average trading volume on the platform, and 150% growth in daily active users since the Supreme Court judgement in March 2020.
Despite Covid-19’s impact on the overall contraction in the GDP of India, the nation’s cryptocurrency markets grew in every possible way. While CoinDCX’s product Insta has shown a 38% month-on-month (MoM) growth since its inception in 2018, we witnessed a 62% MoM growth in the months following the Supreme Court verdict. In October we saw 25% growth MoM in daily active users (DAU). We also saw 21% growth MOM in average daily trading volume. Other products showed a similar exponential growth.
So far, 2020 has been a year full of good starts for crypto in India. With every passing day, it seems like a new adventure where we learn so much from our users — their demands, expectations from us, suggestions, and everything possible. People in India seem to have started looking at cryptocurrency in a positive light. While some have little idea about it, others are willing to share their knowledge on public channels and social media platforms.
Our Mood of the Nation Survey came into being after a lot of thought and internal research around the current crypto trends in India. This survey was designed to focus on how people perceive cryptocurrencies in their daily lives and the observations we received were really eye-opening.
To enlist participants, we distributed the questionnaire through the CoinDCX social media community. Additionally, we amplified our outreach through our influencer network, both in cryptocurrency and non-cryptocurrency, who were gracious enough to share it among their peers and followers through social networks such as Twitter and LinkedIn.
We are very happy to say that of the 11,000-plus respondents of our survey, fewer than 4,000 were CoinDCX users. A majority of the 11,000-plus respondents to the survey belonged to the age group of 25-35 years and while 53% were crypto investors, 47% had never invested in cryptocurrencies before.
Despite the ever constant supply of information provided by relevant crypto stakeholders and industry experts, almost 72% of university graduates felt they could not enter or trade in cryptos because of their lack of knowledge or awareness about cryptocurrencies. Irrespective of their income, users also either lacked awareness or lacked clarity when it came to laws and regulations.
Almost half of the respondents have never traded in crypto, and this survey helped us understand what stopped them from doing so. Only 22% of the respondents from above the age group of 40 years cited a lack of legal and regulatory clarity around cryptocurrencies that prevents them from entering the space. More than half of the people below age 40 believe education could be a better way to help improve crypto adoption in the community.
Most people who have traded in cryptos have also engaged in systematic investment planning (SIP), showing an initiative to diversify their portfolio. On the other hand, 22% of people who have not invested in cryptocurrencies were not investing in any alternative asset either.
What was fascinating to see is, irrespective of the age education, income, or investments made in cryptos and other alternative assets, a majority of respondents believed that “crypto is a good asset class to invest in.” Less than 5% of the respondents, which comprised homemakers and unemployed respondents, said cryptos have zero utility.
While this survey still shows a majority of the people lagging behind when it comes to their knowledge about cryptocurrencies and their experience in dealing with them as an alternative asset class, many also believe that these asset classes have a lot of potential to be a part of anyone’s portfolio.
Similar to our respondents’ belief in cryptos being a good asset class, India may think the same way. More clarity needs to come from the legal and regulatory side and we are taking every step possible to achieve it, including helping educate India about cryptocurrency and blockchain through our educational learning portal, DCX Learn.
This survey is an important benchmark in the Indian crypto discourse. Not only does it highlight that the majority of the Indian investors see cryptos to be difficult to understand, but it also emphasizes the requirement of smart regulation in the country. It is clear from the report that, while outwardly India is set to become the next global player on the international scene, it is also important that smart and sensible crypto regulations become a part of the discourse.
Understanding how an average Indian perceives cryptocurrency puts CoinDCX as well as the Indian cryptocurrency community in a position of responsibility to ensure that every single Indian can understand and adopt cryptos, and join this ever-growing community.
Author: News Bureau
Ethereum Price Prediction: ETH/USD Bulls Enjoy Extension towards $600 Resistance
ETH Price Prediction – December 13
The Ethereum (ETH) needs to pull above the $600 resistance level quickly so as to deny the bears the opportunity to enter and reverse the accrued gains.
Resistance levels: $650, $670, $690
Support levels: $520, $500, $480
Today, majority of the altcoins in the market are posting incredible gains after what looks like a successful weekend session. In addition, ETH/USD bullish action extended above the $570 resistance level and move towards a $600 level. Meanwhile, an intraday high was formed at $595.
The current technical levels suggest that the bulls are not yet done because the longer they stay under the $600 resistance level, the more they allow the sellers to regroup and force a reversal which could lead to support levels of $520, $500, and $480 respectively. For now, the trend is in the bulls’ hands as the RSI (14) is now moving further towards the north.
Moreover, as long the price stays above the 9-day and 21-day moving averages, bulls may remain relatively in charge and the next significant resistance could be $620, which may give way for gains towards the $650, $670, and $690 resistance levels.
Comparing with Bitcoin, the market price remained within the channel as the coin keeps moving sideways. ETH/BTC is currently trading at the level of 0.030 BTC and bulls have not been able to push the price above the 9-day and 21-day moving averages. Looking at the chart, if the market begins to drop, the next key supports may likely be at 0.028 BTC and below.
However, on the upside, a possible bullish movement may likely push the market above the moving averages, once this is done, the resistance level of 0.033 BTC and above may be visited. Meanwhile, the technical indicator RSI (14) is moving above the 50-level and this is to indicate that the market may begin to rise.
Author: FOLLOW ON