bitcoin is a stable asset, correlating with traditional assets
A team of strategists at JPMorgan, led by Joshua Younger, released a report stating that while bitcoin's rate has not previously been correlated with other assets, it has recently shown strong correlation with stocks and other traditional assets.
“Although the correlation has been almost zero in previous years, it has increased dramatically over the past few months. At the same time, the level of correlation is higher in the case of some assets (stocks) and lower in the case of others (US dollar, gold), ”the report says.
Analysts also noted that Bitcoin performed well in March. They were surprised to find more liquidity on the major cryptocurrency exchanges than in traditional markets such as securities, gold and US bonds, and even in foreign exchange markets.
“Bitcoin liquidity fell very hard during the peak market decline, but recovered much faster than liquidity in traditional markets. The depth of the bitcoin market is already above the annual average, while the liquidity of more traditional asset classes has not yet recovered, ”the report says.
Analysts briefly touched on the stablecoin market, noting that the fall in the markets in March did not practically affect this asset class. At the same time, cryptocurrencies themselves, according to the researchers, performed well during this "stress test". The report notes:
“There is little evidence that bitcoin and other cryptocurrencies are safe assets. Their rate is significantly correlated with risky assets such as stocks. This shows that as an asset class they will survive, but more as a means of speculation than as a means of exchange or preservation of wealth. "
Founder's Fraud Was Root Cause of QuadrigaCX Crypto Exchange Crash - Regulator
The Ontario Securities Commission presented the results of an investigation into the activities of the QuadrigaCX cryptocurrency exchange, which had ceased to exist.
As the regulator found out, the collapse and subsequent bankruptcy of QuadrigaCX were the result of fraudulent actions of its founder Gerald Cotten. He, according to official information, died of an illness during a trip to India.
“What happened on the Quadriga platform is egregious and does not necessarily reflect the state of affairs in the broader cryptocurrency asset trading industry. However, these events reflect the risks for investors that may arise when working with platforms for trading cryptocurrency assets, especially unregistered ones, ”the publication says.
Ontario Securities Commission: "QuadrigaCX was a pyramid scheme"
The Canadian provincial regulator claims that the QuadrigaCX cryptocurrency exchange, which went bankrupt shortly after the death of its founder and CEO Gerald Cotten in India, was "an old-fashioned scam implemented with modern technology."
In a report dated April 2020 but released only this week, Cotten is accused of trading against his clients, setting up accounts on other exchanges to trade with his clients' funds, and failing to keep the required reporting.
A DESKTOP APPLICATION has been created for Trezor users SatoshiLabs, which has developed a line of hardware wallets for Trezor cryptocurrencies, has launched a desktop client known as Trezor Suite.
Just recently in a blog post, Trezor Suite is designed to improve your Trezor user experience, providing you with a better experience. The new desktop application offers improvements in three key areas: safety, ease of use and convenience.
This will include a new system for managing the account and coins, as well as improved tools for managing a hidden wallet (i.e. passwords).
In addition, users can now use the Trezor Suite to start up a full bitcoin node, increasing the transaction efficiency and participating in the transaction. Trezor has also added a hidden mode for an extra level of privacy and plans to implement Tor support.
“With the help of the Trezor Suite, we wanted to combine Trezor's capabilities with all of your devices to provide more flexibility in using the bitcoin,” the Mirror-like layout prior to the release of the Trezor Suite, users of a hardware wallet did not need to connect their Trezor device to the computer on which the Trezor Bridge was loaded and plugged in. Now the user has a choice to use the autonomous desktop application through the Trezor Suite, or a more old browser application.
The new Trezor desktop wallet has a design similar to the competing Ledger Live desktop client.
Currently, the Trezor Suite is at the stage of a public beta test, for example, until January 2021, the team is calling a response to the mobile version of the Trezor Suite is planned to be released in the next year and at the same time will be supported by the old Trezor wallet, just as soon as
liquidity is really going hard in this way which really is a very costly items in this constituency, bitcoin is already in a well stable manner which can be well known and that is general in the crypto world