Bitcoin Bear Market to Last for 18 Months, BitMEX Says

Arthur Hayes is not super optimistic about Bitcoin in the nearest future
01 November 2018   850

The price of bitcoin and trading volumes may continue to fall for another one and a half years. Arthur Hayes, head of the BitMEX cryptocurrency derivatives trading platform, expressed this opinion in an interview with Yahoo Finance.

My view is the volatility environment that exists right now could persist for another 12 to 18 months, the flatness. I’m just basing it off my previous experience. I started in bitcoin in 2013 when the price went from $250 to $1,300 and then 2014 to 2015 was sort of the nuclear bear market. Price crashed, volume crashed — very, very difficult to make money.

Arthur Hayes

He added that trading volumes may be even lower than now.

While the head of BitMEX sees a bearish mood in the market, other representatives of the industry are still more optimistic

The market is blowing off some steam right now. I think the market is probably going through some healthy consolidation but I do believe the long-term trend will be greater adoption of bitcoin and similar technologies.

Will Warren

Co-founder, 0x

The head of the Hacera project Jonathan Levy agrees with this position. According to him, Bitcoin is undoubtedly getting cheaper, but he himself and the underlying technologies are used more and more often. 

The price of bitcoin is undoubtedly in a bear market but in the application of bitcoin and other blockchain projects we are in fact in a bull market. Most of the EU banks are actively investing in blockchain and that all originally stems from bitcoin.

Jonathan Levi

Head, Hacera

Despite the decline in trading volumes and volatility, contracts for an amount in excess of $ 1 billion are concluded on BitMEX daily. Earlier this year, the amount of contracts on the platform exceeded $ 8.5 billion per day. 

Lightning Network Wallet by Breez to be Out For iOs

Solution is based on the lightweight client called Neutrino and it wallet supports Submarine Swaps technology
18 June 2019   208

The Breez payment platform introduced a non-custodial wallet for iPhone that supports the Lightning Network protocol.

The basis of the new product is a lightweight client Neutrino. It is also known that the wallet supports Submarine Swaps technology, which makes it possible to conduct transactions between online addresses and the Lightning Network.

The company's blog says that immediately after installation, the application automatically connects the channel to the so-called Breez hub connected to other Lightning nodes, which allows the user to conduct transactions with any participants in the second-level network. In addition, according to the founder of the company, Ron Scheinfeld, the possibility of a refund is provided in the event of challenging purchases.

In a Lightning economy, people trade money for goods and services. Intermediaries — banks, credit cards, online payment processors, and custodians of any kind — are obsolete. All that remains are the people, trading with each other anywhere, anytime, free to do what each of them thinks is best with their own money. Scale is no longer a concern. Transactions are virtually instantaneous and practically free. The people are free too. Finally.

Roy Sheinfeld
Co-Founder and CEO, Breez

The company also noted that within only two months after the release of the version for Android, Breez benefited from "hundreds of users." Currently, the wallet is in beta.

On the eve of the release of the iOS application, the startup managed to attract $ 500,000 from Recruit Strategic Partners and Fulgur Ventures. The funds will be used to develop an application for merchants, allowing them to accept Lightning-payments.