Afshin Sazegar | Around 120 percent of the profits have been recorded in Bitcoin since the beginning of the year. In view of the strong development, the recent crash is not dramatic. Only investors who have boarded from mid-June are in loss. Currently, a possible bottoming out, just the central banks could provide a tailwind. Bold bargain hunters access Vontobel's wide product range or trade directly with eToro. Through the platform, traders can also be active at IOTA - this is where an exciting development is emerging.
The first autumn storms are spreading over Germany and the crypto market is not spared any new setbacks. Above all, the high expectations in connection with the trading platform Bakkt now seem like a boomerang. Unlike competing products, there is no cash settlement at maturity but physical delivery. Optimists had therefore hoped for positive price effects in Bitcoin. But the enthusiasm is limited, the trading volume on Bakkt is disappointing so far.
And the hype surrounding Facebook's planned digital currency Libra has also long since evaporated. On the contrary, the two credit card companies, Mastercard (NYSE: MA) and Visa, reportedly do not want to publicly support the project after the political resistance gets sharper. The online payment services Paypal and Stripe also seem to get cold feet.
For this, some central banks are currently busy with cryptocurrency. Following the announcement of Facebook's Libra, the ECB pulled plans for the E-Euro on a blockchain basis from the drawer. And in the trade dispute between the US and China, Beijing could soon counter with a surprising development: China's central bank apparently also works on a specially developed digital cryptocurrency, which probably similar to the e-euro to the stable-coin approach to the model.