Cryptocurrencies with potential

Published on: 07-May-2020
Category: Trading
Last updated: 07-May-2020

Cryptocurrencies with potential

Something is happening around ??cryptocurrencies and important highlights are imminent. The probably best-known digital currency Bitcoin could soon expect a new rally. A halving of the currency is scheduled for May 12. The emergence of bitcoins is crucial. They are a reward for digging the blocks, which theoretically anyone can do with a lot of computing power. If you mined a bitcoin in 2012 before the first halving, you still received 50 bitcoins for it. Every four years, the reward for mining is halved, so that after the third halving on May 12, you only get 6.25 bitcoins per block. The currency has to be artificially tightened as there are only 21 million bitcoins in total. The value is kept stable and could become a safe investment, especially in the uncertain times. So far after each halving there has been a large price increase that investors are hoping for

So far, Bitcoin has been subject to enormous fluctuations. The currency has slipped sharply in recent months, but has recently risen to $ 9,000 per Bitcoin. However, the price is still far from the records of December 2017 when a Bitcoin cost $ 20,000.

The digital currency Libra, which is to be developed by Facebook and some partner companies, could also experience an upswing. The project had recently stalled because partners jumped off because of the risk. Libra has received little support from politics, the authorities and central banks. There were concerns about money laundering, terrorist financing and other criminal misuse of the currency.

Now a new boss of the cryptocurrency is supposed to give it a new shine. Bank HSBC's chief legal officer will head the Libra Association as chief executive officer. Stuart Levey is valuable for the project because he has contacts with American politics. From 2004 to 2011, Levey was under Secretary of State in the US Treasury Department, responsible for terrorism and financial intelligence. So he is very familiar with the issues that made the creation of the libras difficult. Originally, the digital currency was supposed to come onto the market in June 2020, but this has now shifted to the end of 2020. It remains to be seen whether Levey can successfully introduce the “Facebook money”.


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