October has been busy with all sorts of events: the main cryptocurrency tested the support levels all the time, Defi gained wide popularity among various market participants, US Presidential elections took the headlines and impacted the markets. And this all has been happening in the light of pandemic and our new realms.
How did this news resonate with the audience and of course how the CEX.IO experts commented on that, read in our traditional monthly synopsis of media publications. 🍁 Off we go!
Cryptocurrency and big market players 🏦
🔷 Crypto assets continue to be some of the most promising instruments traded in 2020. More and more corporate and institutional investors are moving towards crypto as an alternative investment asset. CEX.IO has become one of the first exchanges to onboard institutional clients. What was the impetus behind this strategy and what are our goals in doing so? To better understand this growing space, Konstantin Anissimov, Executive Director at UK cryptocurrency exchange, tells about CEX.IO’s vision and perspective of working with the institutional clients.
🔷 Bitcoin is growing but isn’t ready to replace the US dollar as a reserve currency. Central bank digital currencies will change the way millions of people think about money. DeFi could be a game changer as an investment opportunity. Cryptocurrency market is developing with the speed of light offering new opportunities and solutions. We see big industry players entering this market. What should we expect from the emerging industry? Is Bitcoin still a center of the future of cryptocurrency or the dominance of the first ever crypto now under threat? Is cryptocurrency becoming mainstream for personal finances? There are a lot of crypto exchanges, what makes CEX.IO different? Konstantin Anissimov is Executive Director of the international cryptocurrency exchange, CEX.IO, answers these and more questions.
Security as a top priority🛡
🔷 Probably everyone is following the events in the crypto industry heard the news about the recent hack of KuCoin. Over $150 million in funds were compromised in a recent security breach of an Asian cryptocurrency exchange when one or more hackers obtained secret keys to the exchange’s hot wallets.
Even with some measures taken to minimize the risks, cryptocurrency wallets remain vulnerable to hacking. The criminals try different complex schemes to hide the trace — make complex transactions as fast as possible, to make tracking and freezing the funds harder. The money-laundering process is especially interesting and unusual in the crypto world compared to the traditional world of finance. What methods do criminals use to launder crypto assets after stealing them? What measures are put in place to fight money laundering in cryptocurrencies? Dmytro Volkov, CTO at CEX.IO shares his expert thoughts.
Market analytics 🎢
🔷 Like most assets in different global financial markets, the flagship cryptocurrency continues moving in the light of uncertainty generated by the ongoing pandemic and the upcoming U.S. presidential elections. Bitcoin provided investors the opportunity to grasp a Q3 return of more than 18% even with the substantial losses that came in September. Although the so-called “September Effect” was quite significant, it seems like nothing can prevent BTC from achieving its upside potential. According to Konstantin Anissimov, Executive Director at CEX.IO, despite the 18% returns Bitcoin generated for investors, things remain uncertain about the future. Ream more in market analytics.
- Q3 2020 Recap: Bitcoin Continues Rising Despite Global Uncertainty
- Hopes of US Stimulus Push Bitcoin Price Higher
- Bitcoin Investors Gain 18% During Q3
🔷 Bitcoin has enjoyed an impressive rally in October and made headlines surging to the new 2020 highs. But despite those significant gains posted in such a short period, multiple technical indexes suggest that a correction might be coming, potentially ending this latest Bitcoin rally.
The increasing interest from institutional investors is a positive development for the crypto industry as a whole. While governments and central banks worldwide continue to clamp down on crypto, rising demand for this asset class could force global financial watchdogs to ease regulations and accept this growing trend. Experts believe more companies will rethink their portfolio composition and embrace Bitcoin, due to the state of the global economy. Read more about the Bitcoin moves through October and the factors that pushed it in the following pieces:
- Bitcoin rally could stall as whale selling suggests potential pullback
- 75% change Bitcoin breaks bullish towards $12K, analyst asserts
- Bitcoin Surges to 2020 High, Ethereum Rises Modestly above $389
- Crypto Analyst Says Bitcoin Could Start Another Rally Towards $14,000
- Bitcoin hits new 2020 high, aiming for $15,000
- Bitcoin price on the cusp of a major movement
- Fundamentals Behind Bitcoin and Ethereum Couldn’t Be Better Says Analyst
- Analyst explains why Bitcoin risks crashing by $2K in “a few days”
If you haven’t been closely monitoring all the events and moves on the cryptomarket — we’ve got you covered. Save this digest of news and recall what October was like. Meanwhile, we’re full steam ahead to catching up with more hot news and sharing them with you!
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Take care and see you next month! 🤗