Toni Lane Casserly – affectionately referred to as the “Joan of Arc of Blockchain” and the co-founder of crypto news site Coin Telegraph – has passed away at the age of 29. The news was confirmed by members of her family, including her husband, late last week.
Toni Casserly Will Be Remembered
Casserly earned her nickname by being one of the biggest crypto advocates younger generations had witnessed. She spoke at numerous blockchain events and supported blockchain technology with all her heart and soul, believing it would potentially ensure financial stability for all who sought its power.
In a tribute statement, Lucian Tarnowski – an ambassador and founder of Civana – claimed:
Toni saw how technologies were devices to unleashing human consciousness. She was a good pioneer in the role blockchains would give in the return to local communities.
Casserly had allegedly been ill for some time, and reportedly passed away at her home in Texas. According to family’s statements, she had been unwell since visiting California on business last year in August. Her father took to Facebook to express his “profound sadness” and grief over the death of his 29-year-old daughter.
He explained in a social media post:
[I] remember her fondly, as I know a lot of you had been reaching out to her with little success.
Casserly created Coin Telegraph seven years ago in 2013. It has since become of the world’s leading crypto news websites. In addition, she also founded a bitcoin non-profit about two years later. The organization sought to deliver African aid through bitcoin and crypto during the height of the Ebola virus outbreak.
And if all that wasn’t enough, Casserly devoted her time to serving as an advisor for multiple financial companies and associations all over the world, including Bosch, the United Nations, HSBC, and the Institute for the Future.
This isn’t the first time a blockchain entrepreneur has passed away suddenly. One of the most recent cases occurred just over a year ago, when Gerald Cotten – the founder and CEO of Quadriga CX, a cryptocurrency exchange in Canada – was reported to have passed away while working in India due to complications from Chron’s disease.
A Rough Future for Some
His death unleashed a harsh reality on Quadriga customers when it was discovered that Cotten was the only executive of the trading platform that possessed the private keys necessary for obtaining user funds. Thus, upon his death, the exchange was locked down, and very few people could gain control of their digital money.
After some time spent harassing Cotten’s wife, many clients took the law into their own hands and filed a class-action suit against the exchange as a means of getting their tokens back. Since then, new evidence has emerged suggesting Cotten may have embezzled user funds down the line.
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Crypto scams are nothing new, and now several people are finding themselves facing jail time and other harsh penalties for allegedly taking part in a series of them within China and Malaysia.
Crypto Scams Keep Happening
Officials from the latter country have arrested approximately 14 separate individuals for their alleged roles in a series of crypto scams that took place over the span of several months. All individuals arrested are Chinese nationals that were living and working out of Malaysia, and arrests were made over the weekend after regulators had been monitoring the group for more than eight weeks.
According to law enforcement, the men taken into custody were claiming to be experienced bitcoin investors and were persuading unknowing victims into delivering their hard-earned money through WeChat.
Not only are the men being questioned over potentially stealing money, but according to their travel documents, few of them were permitted to exit China’s borders, which means they also likely broke jurisdictional rules somewhere down the line.
Police commission Dzulkhairi Mukhtar explained in a statement:
The suspects are aged from 20 to 30 with three of them having no valid travel documents. One of them would pose as a successful investor or mentor while the rest will pose as investors before creating a group chat through WeChat and QQ application for each of their victims. All of the suspects would then give a fake testimony to persuade the victim into investing.
For their financial crimes, the men face up to ten years in prison each along with caning, while for their opposition of travel rules, they face up to five years in prison, six whipping stokes and fines of roughly $2,000 each.
The situation is a classic case of taking the money and running, and sadly, this is relatively commonplace in the crypto industry, especially over the past two years when things have gotten much harsher in terms of theft rates. One recent case occurred last January, when a 75-year-old woman in the United Kingdom named Frances Foster was duped into giving her entire life savings to a potential bitcoin investment scheme that promised high returns.
Foster lost all her funds at a time when virtually every cent can make a potential difference, but as we’ve learned in the past, the promise of high returns is usually a hard-hitting red flag that everyone should question.
Always Question Every Investment Scheme
As we’ve seen in the crypto space, volatility is a major factor in how much you’ll wind up owning. Bitcoin, itself, has proven itself to be very volatile as of late, falling from $10,000 in February to about $3,800 in mid-May. It is currently trading for about $7,000.
Given how up-and-down crypto is, any company or scheme offering high returns should always be questioned.
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Coinspeaker ZM Stock Up 11%, Zoom Has 300M Users Daily, 50% More Than in Early AprilZoom Video Communications (NASDAQ: ZM) stock recorded a sharp breakout of over 11% to trade above $167 during the trading session on April 23. It was a surprise breakout as most expected the company to drop both in valuation and users due to the security and privacy backlash with most institutional and government users.Zoom conferencing app saw its users grow by another 50% to reach 300 million in the past three weeks, according to Chief Executive Eric Yuan. This is being given as the main factor that saw the shares surge after the market opened on Thursday.The odds have not been on their side previously since it has been battling with a privacy backlash, that has resulted in key institutions and governments to ban its use. Most of the lost customers are ending up using Google Meet which has launched Zoom-like features.Auto-car maker Daimler recently decamped from Zoom services due to security and privacy issues. “This does not comply with the security requirements of our company. Therefore, we can confirm that Daimler prohibits the use of Zoom for corporate content until further notice,” the company noted.Other notable institutions and companies that have decamped include SpaceX, Standard Chartered, Germany governments, Taiwan’s and also Singapore government. Most are moving to use Skype or Google Meet.Counter Measure that Might Have Fueled Zoom (ZM) Stock SurgeIn order to counter the accusation and privacy issues, Zoom has put in place measures to reassure its users of safety. This has helped increase the ratings as more investors gain confidence in the management to deliver amid the ongoing coronavirus.Researchers noted that the “Zoom Bombing” incidents, which were reported by several users were a result of simple choices that were made by some of the users. As a result, the company has included giving the hosts the ability to lock meetings and also be able to restrict what attendees can do.According to Lea Kissner, a security consultant at Zoom, the 256-bit GCM encryption being introduced with Zoom 5.0 next week is in line with what other similar companies are offering. She added that all Zoom customers will have to switch to the new cryptographic mode from May 30.Zoom has also added a feature that will allow account admin to choose datacenter regions for their meetings. This might be a good place to start gaining back the lost trust and continue winning amid the coronavirus outbreak.ZM Stock Up 11%, Zoom Has 300M Users Daily, 50% More Than in Early April
Investor Peter Schiff has never been a huge bitcoin fan, but even he’s predicting that the currency won’t go down in flames.
Peter Schiff Makes Bold BTC Statement
The world’s number one digital asset by market cap has been having a rough time as of late. Serious drops started to throw themselves at the currency when the COVID-19 pandemic began growing in early March. Prior to that, bitcoin was trading for well over $10,000 but a sudden fall into the high $8,000 range occurred soon after.
A few weeks later, the currency fell into the $7,000 range, and before long, bitcoin was trading in the high $3,000s. Mind you that this sudden drop was relatively brief, lasting only a day or so, but it certainly gave analysts and traders something to think about.
With the recent crash of oil, bitcoin has fallen back towards $6,700, but has regained some steam as of yesterday morning and spiked back into the low $7,000 range. This is certainly good news, as the currency has now shot up past $7,000 for the third time in a little over a month, but it’s hard to predict what will happen from here. Could bitcoin endure further falls, or has the price somehow managed to find a sturdy position it can prop itself in for the time being?
Giving his two cents, one would assume that words from Peter Schiff would be fully negative. While he states that he doesn’t feel BTC is a positive investment on anyone’s part, he was quick to suggest that the currency will never reach zero. This is good news; to know that bitcoin will never reach the status of oil is somewhat refreshing and likely to give traders some newfound hope during these odd and desperate times.
In an interview, he states:
Bitcoin bugs claim that oil’s plunge into negative territory validates bitcoin as an asset class, as despite its high volatility and big drops, it’s price never fell below zero. I agree that the downside risk in bitcoin is limited to 100 percent. Not exactly a compelling reason to buy!
The Resiliency Hasn’t Died
Schiff’s words do suggest one huge notion: bitcoin is resilient. Despite the crash of oil and the trouble the financial market has endured as of late, bitcoin has not experienced anything even remotely similar. While it did fall into the high $3,000 range at one point, it was quick to shoot back up, and hasn’t experienced anything so drastic since then. At the time of writing, BTC is trading at a figure relatively similar with what investors witnessed during the early part of the year.
Despite today’s circumstances, Schiff has predicted bitcoin crashes in the past, and recently made headlines when he claimed that the crypto account he had suddenly couldn’t be accessed.
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Coinspeaker Binance Introduces African Social Payments App Named BundleBinance has gone the extra mile in reaching Africans. It has launched a new cash and crypto app that allows the sending of cash and crypto between users. Bundle as the app is known was developed by Yele Bademosi who is the former director of Binance Labs.The cryptocurrency trading platform revealed in its blog post:“Bundle’s product vision is to evolve into a super-app with a native digital wallet that supports crypto and cash – one that becomes an ultimate utility in everyday life for Africans and the world.”The post continued:“Users can buy, sell, and store digital currencies such as BNB, BTC, and ETH, as well as deposit and withdraw digital currencies and local fiat starting with NGN (Nigeria Naira) and many more fiat currencies in the coming weeks.”Bundle serves as an entry-level app for those who aren’t yet into cryptocurrencies. It is also the first application of its kind on African soil. It is rare to have an app that combines the functionality of several cryptocurrency wallets and African fiat concurrently.Binance Tried to Enter African Markets before BundleBundle isn’t the first foray of Binance into Africa. The cryptocurrency exchange late last year indicated that it will be adding support for the Nigerian naira among others.It also has as one of its gateway partners Flutterwave whose Application Programming Interface is second to none.Bundle takes the introduction of cryptocurrencies to Africans closer to the people. Most Africans do not own larger devices such as Laptops and desktops. Smartphone ownership is in a league of its own.Financial inclusion via smartphones has been hugely successful in African region. The road to cryptocurrency adoption could also follow that path.Bundle said in its mission that it “aims to drive crypto adoption on the continent by making it more fun, easy to use, and inclusive for Africans while creating more daily use cases for it”.The first step towards that has been to introduce an App that takes care of the Nigerian market. Nigeria as a country has the continent’s largest population. A significant portion of this population is between the ages of 17-45.Africa Is a Prime MarketBinance has also shown that it considers Africa to be a prime market. With the many problems of bureaucratic red tape, corruption, lack of a basic working environment to name a few.Changpeng “CZ” Zhao and his team have been able to meander through all that. Bundle reportedly received about $450,000 in pre-seed funding from Binance.There is a rise in independent projects within the Binance ecosystem. It might be pertinent to note that such projects will in time be the best evangelists for Binance as an entity.Bundle is also backed by several African partners. This will be one of the few times that investors are meeting technology the right way.Binance Introduces African Social Payments App Named Bundle
Coinspeaker U.S. Jobless Claims Rise Another 4.4M, 26M Americans Already Lost Jobs amid CoronavirusInitial jobless claims in the United States dropped by 810,000 to 4.43 million in the week ending April 18 compared to the previous week’s revised figure, the country’s Department of Labor announced on Thursday. The previous week’s level was revised down by 8,000 to 5,237,000. The four-week moving average stood at 9,598,250, jumping by 3,548,000 from the previous week’s revised average.The seasonally adjusted insured unemployment during the week ending April 11 was 15,976,000, climbing by 4,064,000 from the previous week’s revised level to hit its all-time high. Meanwhile, the advance seasonally adjusted insured unemployment rate landed at 11% for the same week, marking a growth of 2.8 percentage points from the week prior.FED: Managing Coronavirus Is Not DoneMeanwhile, the Federal Reserve’s work on managing the coronavirus crisis is “not done,” according to New York Fed President John Williams.In a speech in New York on Thursday, Williams pointed out that the full impact of the pandemic is still unclear. “The reality is that the full scale of the economic consequences is still unknown. To put the current situation in context, we are running more open market operations, for greater sums, than at any time in our history,” he stated.Since the start of the crisis, which has cost at least 26 million Americans their jobs, the Fed has made two emergency rate cuts, along with an expansion of its asset purchase program and a $2.3 trillion lending program to help support the economy.“The economy is under distress in ways we’ve not experienced in our lifetimes. At the New York Fed we are working tirelessly to address the economic and financial challenges posed by the pandemic,” Williams noted.Trump Urges the Bill while the Number of Jobless Claims Is GrowingAlso, United States President Donald Trump called on the lower house of Congress to approve the $484 billion coronavirus relief package aimed at supporting small businesses, as well as the country’s hospitals and expanding the coronavirus testing.Trump urged the House to pass the legislation which will expand the Paycheck Protection Programme (PPP) by an additional $310 billion, shortly after the provided $350 billion were allocated.The Senate passed a $484B coronavirus relief package, while the House is also expected to vote in favor of the bill on Thursday.United States House of Representatives Speaker Nancy Pelosi said on Wednesday that the lower chamber of Congress will pass the government’s fourth coronavirus relief bill, worth $484 billion, on Thursday, April 23.Speaking to MSNBC, she revealed that $25 billion from the aid package will be allocated to coronavirus testing. “Without testing, we can’t evaluate our progress,” Pelosi underlined.The House speaker also criticized President Donald Trump, who has been “attacking governors” and “misleading the public with false information.” Trump “is doing a terrible job of managing” the pandemic, Pelosi concluded.U.S. Jobless Claims Rise Another 4.4M, 26M Americans Already Lost Jobs amid Coronavirus
Coinspeaker Binance CEO CZ Seeks Community Feedback on CoinMarketCap ImprovementsAfter less than a month after Binance announced the acquisition of Coinmarketcap and claiming it would allow it to operate independently, CZ went to his twitter page to ask his followers for recommendations to improve the site.Listen-to-community time. What would you like to see improved, added or removed from @CoinMarketCap?— CZ Binance 🔶🔶🔶 (@cz_binance) April 22, 2020There have been concerns over Binance growing power and dominance in the crypto space, as most crypto enthusiasts worry about manipulation from the company.CZ Tweet on Coinmarketcap ImprovementsHis tweet attracted a lot of attention as at the time of reporting it had over 224 retweets and 1,3k likes. After going through some of the replies in the comment section, one cannot avoid feeling the mixed feelings in the Binance-Coinmarketcap deal.One of the replies suggested that they should remove scam coins from the listings of the site, another one suggested the exchanger fake volume to be removed, while another one suggested the API used to be free.Coinmarketcap was quick to respond to the suggestions of it to remove the exchanger faker volume, whereby it referred the user to check on its liquidity metrics, which is designed to combat the issue of exchanges inflating volume.On the suggestion that the API used to be free, Coinmarketcap said it is still free, whereby they have migrated their public API. Regarding the rest of the suggestions, Coinmarketcap said it has forwarded them to its team for consideration. However, most of the suggestions were replied directly in the comment section.CMC Under BinanceCoinmarketcap is transitioning smoothly under Binance, whereby the interim chief executive Carylyne Chan said that the acquisition is really good for CMC. She said:“It is really good for CMC in the way that we feel we can tap into the expertise of Binance.”She noted that the company has tremendously grown to be an employer of more than 900 staff workers since its inception. According to her, the departure of the company’s founder Brandon Chez is among the largest changes felt.She, however, emphasized that Brandon feels that he left the company in a trustable team under Binance. She concluded that the company has not yet decided on what it will do in the long term regarding the plans to appoint a new chief executive.In a bid to improve its services, Coinmarketcap is now making use of an automated crypto payment system to raise invoices and also receive funds. CMC will be using the Gilded finance network to facilitate the transactions.It will be interesting to note the changes that Binance will bring onboard the CMC community in the long term, which may reveal its intention to cough $400 million amid the coronavirus crisis.Binance CEO CZ Seeks Community Feedback on CoinMarketCap Improvements
Coinspeaker Bulls Waiting for ETH Price Rise as Ethereum 2.0 Launch Gets CloserOne of the teams that helped develop Ethereum, the second strongest cryptocurrency, Prysmatic Labs introduced the ETH 2.0 Topaz test network as a substitution for the preceding Sapphire test network and finally managed to deliver it successfully. Right now, the Ethereum network can handle just 15 transactions per second (TpS), which represents the pretty small number. The team, however, decided to change this with Ethereum 2.0. And it’s clear that the closer these updates get, the more talks about Ethereum (ETH) price are there.Working Product as Ethereum ‘Very Complex’ ChangeoverHowever, let us try to explain why has the whole thing only runs on a test network. A test network is an environment that is meant for test purposes only. It allows application developers to experiment without destroying the network.Especially with a “working product” like Ethereum, a changeover is very complex and has to be done with great care.ETH 2.0 would, as it is planned, remove all possible problems that afflict the Ethereum network. This includes relatively limited scalability and security. Also, it will apply the possibility to stack Ether (ETH) in order to validate transactions on the network and earn extra tokens as payment.Also, It should be mentioned that Ethereum 2.0 will be faster and more vigorous because it supports sharding. Sharding, just for the reminder, is an approach that divides the processes in the Ethereum network into smaller nodes so that it can handle more transactions.Analysts say that Ethereum 2.0 is expected to have a categorically positive effect on the value of its native cryptocurrency.Ether Should Be Burned?Also, there is an idea that Ether should be burned when transactions take place, which would only intensify the supply-demand dynamics in favor of bulls.Meanwhile, the number of smart contracts deployed that opened on the Ethereum network reached 1,971,632 in March, hitting a new all-time high and marking a 75% increase from the previous month.Online analytics platform, Dune Analytics, said the number of contracts deployed on Ethereum during the last year with the average only registering around 670,000 contracts per month.However, even though the number of smart contracts has increased, there wasn’t any apparent rise in the number of transactions as a result. That might actually suggest that numerous contracts were either not properly handled, or either didn’t translate to an increase in end-user engagement.Ethereum co-founder Vitalik Buterin commented:“Note that this is likely not quite yet ‘THE Multiclient Testnet™,’ as we are likely going to do one or two restarts soon to have more chances to test the genesis mechanism.”At the time of writing, Ethereum (ETH) price was climbing by 3.74% and was $184.01. However, that means it rose above the $180 resistance and analysts think it is likely to rise even more towards the $195 and $200 levels pretty much soon.Be it as it may, this also means that the bulls are now in control and they are likely aiming a test of the $200 level. However, if we look at the charts we can see there was a break above a major bearish trend line with resistance near $177 on the hourly chart of ETH/USD.Any Ethereum (ETH) Price Movement PossibleIt is possible that the pair could even go lower, but fall remains supported near $178 and the 100 hourly simple moving average.Ethereum should definitely surpass the 100 hourly simple moving average for a fresh rally against the US Dollar. ETH price stood above the $170 level and it did break the 100 hourly SMA.The bulls again gained control and they were able to clear a couple of important hurdles near the $175 and $180 levels.The price also went above the 61.8% Fib retracement level of the main drop from the $190 swing high to $165 low.Bulls Waiting for ETH Price Rise as Ethereum 2.0 Launch Gets Closer
Coinspeaker Warren Buffett Expert Thinks that BTC Price Will Reach $300K after Bitcoin HalvingWarren Buffett expert Preston Pysh has indicated that Bitcoin could reach $300,000. This he believes could occur after the halving event. The Buffett’s Books founder said this during an interview with Nathan Latka. In the podcast, Preston said: “I would tell you that I think the next orbit level is $80,000 to $100,000. It’s gonna go straight through that number, and it’s probably gonna go to $200,000 or $300,000 “.He also said that electricity prices (for miners) will be a growth engine as well. He expects a Bitcoin run in a month or two after halving.Pysh had also spoken about stocks of remote teleconferencing company Zoom Video Communications (NASDAQ: ZM). While he did not recommend selling the stock, he said that it was something that they should be doing. Pysh has previously predicted that Bitcoin will outperform gold. His stance is based on fundamentals that involve the halving event. His views are in divergence to the prominent investor and billionaire Warren Buffett. Buffett is reportedly anti-Bitcoin and anti-cryptocurrency, however. Warren Buffett Expert: What May Influence Bitcoin PriceThey hold some water as there are factors at play that will push Bitcoin (BTC) prices higher. Previous Bitcoin halving events have always been followed by bull runs. These bull runs resulted in significantly higher prices. The market forces of demand and supply have been the forces at play. There is no hanky panky behind the scenes.With the reward for miners reducing by 50%, it then means that scarcity will set in. This will drive prices higher. With increases in the Bitcoin mining difficulty, we are going to see the effects of this Bitcoin scarcity drive demand up.As the world reels from a pandemic, Bitcoin has decoupled itself from the financial markets. The March 12 price drop seems to have been over. Financial markets the world over are still dropping. the effects of COVID-19 are yet to be quantified.This will lead to investors pouring their funds in Bitcoin as a haven. The value of any asset is determined by the value given to it. Gold, Bitcoin, silver, paper securities, and the like are all driven by this fact. One of the things that give Bitcoin its value is the trustless factor. In an age where there are few to trust, Bitcoin seems to be one of the few ways left to hold and transfer value without having to trust anyone. This is important because the whole world is up in arms at the moment due to the coronavirus. Bitcoin is digital. For investors of the previous generation, “What-You-See-Is-What-You-Get” (WYSIWYG) was the standard. Now, what works is “proof-of-concept”. If it works then it serves the purpose.This is why we have new fields such as computer science and information technology existing in the first place. If it works for technology, why can’t it work for finance?It takes less than a minute to get a Bitcoin wallet. In some developing countries, it can take months to open certain kinds of bank accounts. Adoption of Bitcoin and the rest of the cryptocurrencies is going to occur with these kinds of red tape. Decentralization has also changed the way people think about financial assets. In times of crisis such as now, the existence of decentralized assets has changed the game. While Preston sees it from one side, there are many more reasons why from this year, Bitcoin (BTC) prices will increase in successive phases. For now, we all wait for the halving and see what comes next. At the press time, Bitcoin (BTC) price was at $7,101.53 (+1.67%).Warren Buffett Expert Thinks that BTC Price Will Reach $300K after Bitcoin Halving
Coinspeaker Bitcoin Halving Is Time for BTC to ‘Shine’, Mike Novogratz SaysMoney does not grow on trees. But, it seems like it has started doing just that as governments around the world initiate massive fiscal stimulus packages. All these occurrences coupled with the forthcoming Bitcoin halving present a strong case for BTC. These developments seem to be exciting crypto proponents. One of these proponents is Michael Novogratz, the founder of Galaxy Digital crypto-focused merchant bank. While speaking to the media on April 21 when additional stimulus measures were announced, Novogratz doubled down on Bitcoin before its halving:“Bitcoin has this moment right now. Just today we had another trillion-dollar stimulus—money growing on trees, and my mother taught me when I was younger, ‘money doesn’t grow on trees’.”The Wall Street veteran believes that more people are turning to crypto as fiscal stimulus continues. People are searching for something scarce to safeguard their portfolios. The latest measures by policymakers and reduced rewards for miners after the Bitcoin halving event are likely to boost BTC’s attractiveness, according to Novogratz.Novogratz thinks that a macro tailwind will arise in conjunction with the adoption tailwind that is happening in the Bitcoin market while the halving is closer and closer. He added:“Gold already has its story, it’s going to put new highs in this year, and so I think that’s a really powerful story that policymakers are going to continue to play into.”Economic Fallout to Favor BitcoinMany other investors are also convinced that the economic uncertainties arising from the rapid spread of COVID-19 may favor Bitcoin. Chamath Palihapitiya, an ex-Facebook executive, said that the reaction from governments will impact Bitcoin more than the coronavirus pandemic itself.The current economic crisis seems to enhance Bitcoin’s chance of playing a major economic role from 1% to even 10% according to Palihapitiya. In such an occurrence, he is convinced that BTC price will surge into the millions of dollars.Bitcoin is yet to shine even after the World Health Organization declared COVID-19 a global pandemic. The flagship crypto still languishes a distant 30% down from the February year-to-date highs.Dan McArdle, the Messari co-founder, believes that Bitcoin is down due to inconsistencies about the crypto’s key value proposition. According to McArdle, Bitcoin more a hedge against inflation and confidence loss in fiat currencies than it is a typical recession hedge.The use case of Bitcoin is likely to be seen in the next several years after major central banks around the world added trillions to their balance sheets. McArdle explained:“If they’re successful in preventing further asset price declines, the new liquidity may very well seek out scarce assets such as Bitcoin.”Bitcoin Halving: How Will It Impact Global Economy?The Bitcoin halving may reduce the dollar’s dominance in the global economy according to Simon Peters who is an analyst at eToro. He said:“It could be that investors are choosing not to sell their holdings as we might expect, and instead are staying in Bitcoin so as not to miss out on the anticipated gains in the months following the halving.”But, others have different opinions. Jason Deane, a Quantum Economics analyst said that investors should not expect anything to happen any time shortly. He explained:“It will take time for [the] effects of both QE [quantitative easing] and the reduced supply of Bitcoin to filter through.”Based on Deane’s account, maybe Bitcoin’s moment to shine is not right now but it could be soon.Bitcoin and Oil MarketsCurrently, it seems there are many factors in the crypto markets that are yet to reflect in the BTC price. The probable inflationary forces of the Federal Reserves stimulus packages and the deflationary effect of the COVID-19-induced global recession are some of them. Heath Tarbert, Commodity Futures Trading Commission Chair, told CNBC on April 21 that markets are still reacting to many things happening currently.Volatility happens abruptly after reality unfolds gradually. That may explain why Bitcoin is trading between $6,400 and $7,400 for all of April amid the coronavirus health crisis and economic turmoil.The recent oil price plunge shows how inaccurately markets are reflecting what is already known until reality on demand and supply comes up. Hence, traders might not know the effect on Bitcoin’s price arising from probable mass adoption as an inflation hedge until many major institutional investors start buying.Hence, the market might not experience the full impact of the forthcoming Bitcoin halving event until it comes and goes.Bitcoin Halving Is Time for BTC to ‘Shine’, Mike Novogratz Says