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#CryptoCorner: Bitcoin Turns Bearish After Four Weeks of Gain, HTC Bringing Crypto Mining to Mobile Phone and Binance Launches BTC Options Trading on Mobile

 

Point Roberts, WA and Delta, BC - April 13, 2019 (Investorideas.com Newswire) 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:

https://www.investorideas.com/Audio/Podcasts/2020/041320-CryptoMarket.mp3

#CryptoCorner: Bitcoin Turns Bearish After Four Weeks of Gain, HTC Bringing Crypto Mining to Mobile Phone and Binance Launches BTC Options Trading on Mobile

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Bitcoin Turns Bearish After Four Weeks of Gain, HTC Bringing Crypto Mining to Mobile Phone and Binance Launches BTC Options Trading on Mobile

Stocks discussed: (TWSE:2498)

According to data from CoinMarketCap, Bitcoin (BTC) is down to a trading price of about $6,730 at press time. This comes after the flagship cryptocurrency seemed to have established a $7,000 support level last week. In fact, Bitcoin was trading for just over $7,100 as recently as Sunday, but has lost around 3 percent in the last 24 hours. A report from CoinDesk today notes that this bearish behaviour has ended Bitcoin's "longest weekly winning streak in nearly a year," after it had achieved its "fourth straight weekly gain."

Forbes reports that Taiwanese electronics giant HTC (TWSE:2498) is bringing crypto mining to its Exodus blockchain mobile phone. HTC is leveraging the DeMiner app, developed by Midas Labs, to mine "at least $0.0038 of" Monero (XMR) per day. Phil Chen, Decentralized Chief Officer at HTC, commented:

"At HTC, our position is to use the mobile phone to drive further decentralization. The mobile phone has become the primary computing device of the people and making it accessible to everyone empowers the people.

In other words, the question is not should we use an ASIC or a CPU. The question is how can we further decentralize and ensure a more inclusive monetary system?"

Dr. Jri Lee, founder and CEO of Midas Labs, explained:

"Mobile mining will meaningfully add to decentralization as it will increase the security of the network. If we're helping to secure the networks, then all cryptocurrency users benefit from it. We should also bear in mind that there are billions of smartphones in the world. Using Monero as an example, the mobile hash rate could easily exceed the existing hash rate if only 1% of smartphones conduct mining. Bringing mining to mobile is a very important step for blockchain."

Binance has announced the launch of Bitcoin options trading on its mobile app. A press release leading up to the announcement explained:

Binance Options offers a lower entry barrier and provides flexibility to option traders. Traders are now allowed to take advantage of the price movement within different time frames and enjoy unlimited profit upsides with limited risks. Binance Options are intuitively designed to enhance traders' trading experience, unlike traditional options products.

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

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