Altcoins: Expert Warns Investors 2023 To Mirror 2018 Boom-Bust Cycle
Altcoins, the alternative cryptocurrencies that emerged as counterparts to the dominant Bitcoin, have always held an air of excitement and uncertainty within the volatile world of digital assets. In the ever-evolving landscape of the crypto market, where trends can rise and crumble in the blink of an eye, a notable crypto analyst, Benjamin Cowen, offers […]
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Bob Swarup has extensive global experience in financial markets, macroeconomics and regulation, and recently released his new book Money Mania: Booms, Panics, and Busts from Ancient Rome to the Great Meltdown. Here, he presents his view on why bitcoin is fated to repeat the perennial cycle of boom and bust. It is human nature to believe that whatever happens to us is unique. Bitcoin is no exception to this rule. Discussions about bitcoin and its impact are everywhere at the moment. If you are a supporter, bitcoin is a digital messiah and an unprecedented paradigm shift in the evolution of....
Mirror has secured $8.8m in Series A financing to reposition itself as a smart contract trading platform built on bitcoin's blockchain. Led by Ripple Labs investor Route 66 Ventures, the round also included Battery Ventures, Crosslink Capital, RRE Ventures and Tim Draper. As part of the deal, Route 66 venture partner Pascal Bouvier will join Mirror's board of directors. Reports of Mirror's round first surfaced in a New York Times article that suggested the company had raised $12.5m to fund a pivot toward smart contract technology with the help of renowned cryptography expert Nick Szabo. In....
Smart contract capabilities are rendering old-school megalithic crypto projects obsolete as blockchains evolve beyond just being a medium of exchange. One of the familiar themes seen in previous crypto market cycles is the shifting market caps, popularity and ranking of the top 10 projects that see significant gains during bull phases, only to fade into obscurity during the bear markets. For many of these projects, they follow a recognizable boom-to-bust cycle and never return to their previous glory. During the 2017–2018 bull market and initial coin offering (ICO) boom, which was driven....
The general crypto market has seen a decline in the last week, with most assets recording significant losses. Solana (SOL), one of the most prominent cryptocurrencies, is down by 11.50% in the last seven days and 16.17% in the last month. Interestingly, popular crypto analyst, Benjamin Cowen has posted a puzzling prediction on Solana, drawing much similarity between the token’s current price movement and historical price data of fellow altcoin Cardano (ADA). SOL To Close 2023 With Losses? According to an X post on August 23, Benjamin Cowem believes Solana’s price movement might be....