Wednesday, May 13, 2020

#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:  



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 Coinmarketcapit 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:DMGIannounced 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

Download our Mobile App for iPhone and Android 

Contact Investorideas.com
800 665 0411



Get more Bitcoin and Blockchain Investor ideas  – news, articles, podcasts and stock directories 




No comments: