#CryptoCorner Episode 401: Bitcoin with Slow Rise Following Halving, JPMorgan (NYSE: $JPM) Opens Banking to Coinbase and Gemini, DMG Blockchain Solutions (TSXV: $DMGI.V) Announces Corporate Outlook
#CryptoCorner
Episode 401: Bitcoin with Slow Rise
Following Halving, JPMorgan (NYSE: $JPM) Opens Banking to Coinbase and Gemini,
DMG Blockchain Solutions (TSXV: $DMGI.V) Announces Corporate Outlook
Point Roberts, WA, Delta BC May 13, 2020
- Investorideas.com, a leader in crypto
and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on
what’s driving the cryptocurrency market .
Listen
to today’s Crypto Corner Podcast:
Read
this in full at https://www.investorideas.com/news/2020/crypto-corner/05131Bitcoin-JPM-DMGI.asp
Stocks discussed: (NYSE:JPM) (TSXV:DMGI)
Bitcoin (BTC) entered into its
much-hyped “halving” event on Monday already in a downtrend following the
weekend’s price crash, and did not end up rallying as some expected. However,
according to data from Coinmarketcap, it has been on a steady incline and is now trading at
just over $9,000 again. A report from CoinDesk, written by Omkar
Godbole, argues that given the foreknowledge of the halving, the market was
able to factor it in, and that as a consequence the absence of a rally is
unsurprising. An excerpt from the piece outlines how, in fact, a decline in
trading price might manifest in the short term.
Some observers might predict a price drop in the near
term, as the halving has doubled the cost of bitcoin production and made older generation mining machines like Bitmain Antminer S9s unprofitable.
As a result, some hard-pressed miners could potentially shut down and offload
their bitcoin holdings to recover the cost, adding to bearish pressures around
the cryptocurrency.
The
Block
reports that JPMorgan Chase & Co. (NYSE:JPM) will offer bank
accounts, including deposit, withdrawal and transferring services, to crypto
exchanges Gemini and Coinbase through the Automated Clearing House (ACH)
network. This comes in spite of JPMorgan CEO Jamie Dimon famously called
Bitcoin a “fraud”. An unnamed banker told the Block:
"It's quite significant news in my opinion. There
is little business in fees associated with processing wire and ACH payments, I
would expect that there are other associated benefits to JPM from any
associated banking services, additional collaboration with both of those firms,
potential for winning any future IPO or another angle such as JPM coin being
offered on either of those platforms."
DMG Blockchain
Solutions Inc. (TSXV:DMGI) announced both a positive
corporate outlook for the next few months and a mining overview. Among the
highlights for its mining business, the company revealed that it was recently
commissioned by Bitmain to setup and optimize their largest facility in Texas,
and that it had successfully certified 10,000+ cryptocurrency miners for
operation under UL/CSA. On the halving, DMG’s CEO Dan Reitzik commented:
“One of the reasons Bitcoin was created was to combat
increasing inflation, driven by issuing more and more fiat currency. This is
the reason ‘halvings’ occur every 4 years, to reduce the supply of new bitcoin
created over time, leading to deflation. DMG sees a tremendous upside
opportunity for Bitcoin price increases and subsequently for the Company’s, and
our clients’ profitability in both the near and long term.”
Sam
Mowers, Investorideas
For investors following the sector Investor Ideas has a
comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
About
Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com
is a recognized news source publishing third party news, research and original
financial content. Learn about investing in stocks and sector trends with our
news alerts, articles, podcasts and videos,
looking at cannabis, crypto, AI and IoT, mining, sports biotech, water,
renewable energy and more. Investor Idea’s original branded content includes
the following podcasts and columns : Crypto Corner , Play
by Play
sports and stock news column, Investor Ideas Potcasts Cannabis News and
Stocks on the Move podcast and column, Cleantech
and Climate Change
, Exploring
Mining the AI
Eye .
The
Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com,
iHeartRadio and Google Play Music.
Visit the Podcast
page at Investorideas.com:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third
party sourced news, articles and equity research as well as creates original
content, including video, interviews and articles. Original content created by
investorideas is protected by copyright laws other than syndication rights. Our
site does not make recommendations for purchases or sale of stocks, services or
products. Nothing on our sites should be construed as an offer or solicitation
to buy or sell products or securities. All investing involves risk and possible
losses. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. Contact management and IR of
each company directly regarding specific questions.
More
disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more
about publishing your news release and our other news services on the
Investorideas.com newswire https://www.investorideas.com/News-Upload/ and
tickertagstocknews.com
Global
investors must adhere to regulations of each country. Please read
Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Cryptocurrency Disclaimer
Investorideas.com news content is not meant to be a solicitation
to buy or sell cryptocurrencies and Investorideas.com does not directly sell
cryptocurrencies; but acts as a news and research resource for interested
investors following the blockchain sector.
Copyright and ownership: Crypto Corner is an Investorideas.com
content brand
Contact
Investorideas.com
800
665 0411
Comments
Post a Comment