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Weekly Update

A quick hello before the update.

So, another week in lockdown, but with good movement in Spain and France seeing people outside again, so a glimmer of hope and plans for them to get back to some sort of normal which we can all take some comfort from. It’s been interesting to watch the comedy show that is Trump and him entertaining us with “Did he really say that!?” He should start writing for Clinton cards!

It’s been a bust week for The London Crypto Exchange with the public launch and partnership with Paxful, one of the leading peer-2-peer bitcoin exchange platforms in the world. Our aim with the exchange is to make buying bitcoin as simple and easy for anyone, anywhere in the world. We are not building a platform to trade but to offer service and a solution and something we are very excited about. You can register on our site in 3 simple steps at www.thelondoncryptoexchange.co.uk

BITCOIN INVESTORS taking over $530 million per day in BTC and growing.

Glassnode have in recent days released data that has suggested that Bitcoin holders are buying more and more coins every day, more than any other activity so far in 2020. If this continues, they are adding 75,000 BTC to their portfolios every day. Now, with the bitcoin halving only weeks away we reckon this is causing the spike based on previous years and results. With poor stock markets and coronavirus very much in the forefront, this has also contributed to increase in buying.

The halving is going to slash miners’ rates on bitcoin by 50% next month, the big debate is whether the event has been priced in, for those who are unsure the halving takes place on the 12thMay.

Is a Bitcoin bull run like 2017 due again?

 Bloomberg published a report last week and was extremely bullish in the sense that it suggests that bitcoin could be preparing for a big bull run. They cited this report due to a coronavirus induced market in turmoil and say that bitcoin and gold has the primary beneficiaries in this unsettled market. Bitcoin and gold are compared a lot in as a store of value and that bitcoin asset is crypto market’s version of gold and is now a less of a risk-on speculative asset. And over the forth coming months Bloomberg are predicting that volatility will continue to decrease, and is significant to the all-time low volatility in October 2015 which marked the beginning of the bull market.

Who Should buy Bitcoin?

 $100 dollars of bitcoin bought in 2015 would be worth in today’s market just under $3000.00 in the height of the run in 2017 it would be worth just under $9000.00. You don’t have to be a trader or understand blockchain to buy some bitcoin.  Most people have a savings account or an ISA and they don’t understand the banking market, and they give them their money for less than 1% interest per year. When the banks then lend your money out in mortgages, loans and investment that they invest in, but with your money as they legally have the right to do so. And when there is a problem and they need bailing out they get full public money to do so, after making billions with your money in the first place.

So yes, everyone should buy $100 dollars’ worth and sit on it, after all there is only every going to be 21 million bitcoins ever, on a global planet of 7.8 billion people and growing.

If you would like to discuss any of the above or speak to our press and marketing team please email them on hello@thelondoncryptoexchange.co.uk