If BCH had held its highest price in BTC, it would now exceed USD 23,000. BSV, another fork of Bitcoin, is also at an all-time low compared to Bitcoin.

Right now, the value of Bitcoin Cash (BCH) is at an all-time low against Bitcoin (BTC). The former was born from a fork of the pioneering cryptocurrency in mid-2017. The current price of the altcoin is just 1% compared to that of the main cryptocurrency on the market.

The price of Bitcoin recently reached above USD 57,000, and the price of BCH is just above USD 530. Satoshi Nakamoto’s cryptocurrency is equivalent to more than 10,000% of the market value of BCH, according to data from CoinMarketCap.

Therefore, the equivalence of BCH to BTC, from which it was born, has reached the lowest point in its history. The cryptocurrency is trading at around 0.009253 BTC, after falling by about 2% against Bitcoin in 24 hours.

The price of BCH against Bitcoin has fallen by more than 97.7% compared to its all-time high of November 2017. At that time, the altcoin that was born that same year reached a peak of 0.43 BTC per unit.

If BCH had held that equivalence, it would now be trading above USD 23,600. However, the cryptocurrency is currently trading at around USD 531.

Taking its beginnings as a reference, the price of BCH was above 0.10 BTC. Therefore, even when considering its birth instead of the ceiling, its depreciation exceeds 90%.

A long-standing disagreement over the fate of Bitcoin’s development led to the birth of Bitcoin Cash in 2017. Its developers considered BCH to be “Bitcoin’s initial promise” but the numbers indicate that the market does not think the same.

Performance of Other Altcoins against Bitcoin

The depreciation of altcoins against Bitcoin, even as they gain against US dollars, is not new. In October, a Glassnode report dealt with this situation among the main currencies and some representative of the bullish run of 2017. Among these were BCH and ETH, the cryptocurrency of the Ethereum network.

The latter is at almost 80% of its all-time high in BTC in mid-2017. Litecoin, another long-standing cryptocurrency, which emerged in 2013, is more than 90% of its highest price in Bitcoin.

BSV (Bitcoins Satoshi’s Vision) is another example of the lack of success in the market for cryptocurrencies that have been born from forks of Bitcoin. Craig S Wright, who calls himself Satoshi Nakamoto, created it in 2018 from a fork of BCH.

Wright has not been able to provide any kind of proof to show that he is the person behind the pseudonym. Furthermore, his cryptocurrency has failed to attract the attention that people in the market had expected.

At the beginning of 2020, BSV reached an equivalence of 0.04 BTC per unit. Currently, this cryptocurrency is trading at around 0.0034 BTC. Like its predecessor BCH, it is at its all-time lows against Bitcoin.

By Alexander Salazar

Before Coinbase held the auction, they could have traded each share at around 375. The company expects its IPO to go into effect in late March.

One of the oldest companies in the ecosystem of Bitcoin and other cryptocurrencies is precisely Coinbase. The company reached a total value of around USD 90 billion, after selling its shares at a private auction.

In recent days, the company based in San Francisco, United States, sold each of its shares for around USD 350. Anonymous sources who are familiar with that sale gave this information to the Bloomberg news agency.

This could be the last chance for Coinbase to sell its shares privately on Nasdaq. The same sources reported that the company hopes to go public on the stock market.

Before the auction, they traded some of the shares at a higher price, equivalent to around USD 375 per unit. That price could have helped the company reach even a total value of USD 100 billion.

These types of sales do not always indicate the future price of the shares of the American exchange. However, this process, which has been brewing since 2020, can help determine its initial value once it goes public.

In the beginning, Coinbase had planned to go public via an Initial Public Offering (IPO). However, in January the exchange announced that they would go on the market through a direct listing.

This would be the first direct listing of this scale on the Nasdaq market. This alternative to IPOs does not contemplate creating new shares but rather trading those that the company already has.

Analysts initially put the value of the 9-year-old company at around USD 28 billion. Although their negotiation will not determine the IPO price, the benchmark triples those initial estimates.

Bitcoin Gains Momentum in Traditional Markets

Coinbase’s upcoming IPO is just one example of the momentum that Bitcoin and other cryptocurrencies have been gaining. Besides, companies dedicated to this ecosystem have become popular among traditional markets and investors.

The first cryptocurrency, which Satoshi Nakamoto created just around 12 years ago, has taken the world by storm. Bitcoin’s market capitalization exceeds USD 1 trillion, thus making it one of the 10 most valuable assets in the world. Only a few markets exceed the value of the pioneering cryptocurrency, the most prominent of which are those of gold and silver.

At the same time, investors see Bitcoin as a store of value comparable or even better than gold itself. This happens as the cryptocurrency gains ground in corporate funds and traditional markets.

There are already several Bitcoin exchange-traded funds (ETFs) on stock exchanges such as that of Canada. Besides, the US Securities and Exchange Commission (SEC) is currently evaluating the Chicago Board Options Exchange (CBOE) application. The exchange specializing in derivatives is waiting for the commission to approve its request to list its ETF shares.

By Alexander Salazar

The card will only be only available in the United Kingdom and European Union countries. At least 75,000 people are on the waiting list for new cards.

The digital payments platform, Wirex, announced on March 9 the launch of a new debit card that will allow the use of up to 18 digital assets such as bitcoin, in addition to national currencies, for payments in any physical or digital form.

Wirex explained that Mastercard allows them to issue cards directly to users, with which they can make purchases, save or exchange cryptocurrencies.

Likewise, they will instantly convert their cryptocurrencies to fiat currency, which they will spend anywhere in the world where Mastercard is accepted. The cryptocurrency offers to include Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple (XRP), Dai (DAI), Nano (NANO), Waves (WAVES), Stellar (XLM), and Wirex Token (WXT).

Although it may vary between countries, there are the United States, Canada, Hong Kong, Singapore dollars, the euro, the British pound, the Czech crown, the Hungarian forint, the Polish zloty, the leu Romanian and Croatian Kuna.

According to Wirex, the new financial instrument will only be available to clients in the United Kingdom and the European Union for the time being. Users of the payment gateway will be able to convert currencies directly at the point of sale, which means that it will allow the transformation of cryptocurrencies into fiat during transactions.

The company added that 75,000 people had been registered on the waiting list to access the new card to date. Wirex users in the United Kingdom and the European Union can apply for the debit card from March 9 on its website.

Prepaid card service is a process that Wirex went through before. In 2016 Wirex offered the same financial instrument, but with Visa, Mastercard’s main competitor was processing debit card payments. The company didn’t clarify whether from now on they will work with both companies parallel.

Wirex also announced a new rewards model that they have dubbed X-tras. The mechanism will allow customers to earn up to 2% in bitcoins when making a consumption with the Wirex card. It will be available to cardholders and outside the UK and Europe for those users with mobile application activities.

Mastercard’s Increasing Interest Cryptocurrencies

In a statement last February, Mastercard assured that it would begin the supportive process over selected cryptocurrencies directly on its network. This support will allow customers, merchants, and companies to move digital assets freely.

They assure that they have “89 blockchain patents granted worldwide and 285 additional blockchain applications pending around the world.” They own one of the “largest blockchain patent portfolios in the payments industry.”

They are also aware that they play an active role along with several major central banks worldwide in their plans to launch their currencies. Such is the case of the Bahamian sand dollar, where they are working to establish the first prepaid card that works with this digital asset.

By: Jenson Nuñez

More than 170,000 million dollars would enter the stock market soon. The aid packages will affect Bitcoin’s price too.

America’s youth are thinking about investing a high sum of their Financial Aid in the stock markets. This behavior appeared in a survey by Deutsche Bank in which respondents, in the range of 25 to 34 years, would be eager to spend half of government aid to buy shares.

Four hundred thirty investors who use online tools such as stockbrokers entered the survey. The research also states that operators in the 18-24 age range will use 40% of their check amount for the same purpose.

The percentage of users that think about investing in the stock market has seen a reduction for the 35 to 45-year-old group (37%), and for those users surpassing 55 years old, the latter segment would allocate only 16% to the stock market. In total, 37% of all respondents would direct a considerable part of their funds to stocks.

On the results, the bank noted that “a large amount of the next stimulus checks from the United States will probably go to equities.” It is a fact that the total amount that would enter the stock market would be about 170,000 million dollars. According to the Senate, the complete aid circles around $ 1.9 trillion.

The strategists said that behind the retail investments wave is a younger, “aggressive” population that is totally up to use leverage. The survey results confirmed that 53% of all traders have already invested in the stock market by sending other stimuli since 2020.

Financial Aid is favoring Bitcoin

The injection of capital to different US economy sectors serves to keep alive and protect local production due to the lockdown because of COVID-19. However, there are those users who prefer to invest the funds rather than spend them. The stock market is capitalizing on the situation, but so are bitcoin (BTC) and cryptocurrencies.

Since last year, when the first aid packages received approval in the Donald Trump era, the checks’ sending has coincided with an increase in bitcoin price, for example. In April of last year, when the first checks went for $ 1,200, the first cryptocurrency price went from $ 6,200 to $ 8,800 per unit, according to data from CoinMarketCap.

The second phase of monetary Aid pushed the price of bitcoin above $ 10,000. A similar situation happened in December of last year with another agreement to send 900,000 million dollars in Aid. At that moment, the price of BTC peaked at $ 22,890.

With a new aid package right hitting the US economy, investors are not going for stocks or financial derivatives. Still, they will also purchase more bitcoins, seriously affecting their price and reaching a new peak.

The upcoming financial stimulus, combined with the boom in institutional investments in BTC, could trigger a new reach in the price of bitcoin. Given the outlook, will bitcoin now exceed the $ 60,000 barrier? It is a simple matter of time for this fantastic price to be accurate.

By: Jenson Nuñez