Blockchain-based Crypto Game Bitpet Announce their Impending Airdrop Event


Bitcoin Press Release: Bitpet, a blockchain-based crypto game dubbed the Asian CryptoKitties, has announced their platforms second round of their  Airdrop campaign is to commence on May 25, 2018.

May 25, 2018. Seoul, South Korea: Bitpet users will be able to receive Bitpet in the air drop and while playing the game. Bitpet, which is a digital asset recorded on the blockchain, for free at the time of subscription, and the received Bitpet can be traded for ETH through sale on an exchange. Additionally items that can be used in game are distributed free of charge at every login. The number of deployments is limited, and when the quantity is exhausted, the airdrop event will end.

Bitpet is the name for a lovely digital rabbit that can collect, breed and grow.

It is based on The Linux  Foundation’s HyperLedger and can not be lost or duplicated. Anyone can see its existence through a scan inside the HyperLedger blockchain. Unlike the existing Crypto games, the METAMASK and ETH Network are not used, so a smooth and pleasant game progress is possible.

Users can participate in the Bitpet airdrop by registering through the website free of charge.

The Bitpet Airdrop

The Bitpet platform is playing host to the second round of their Airdrop campaign, releasing 50,000 Bitpet to the community. Users simply have to go to the Bitpet website and sign up. The Airdrop will take place on May 25th, 2018 and will last until all the tokens are claimed.

The Bitpet platform has a lot in store for the community this year, having recently integrated a wallet into their platform and are currently working on the Mobile Bitpet open and three new games. The team are set on pushing the boundaries for the blockchain-based gaming community.

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Name: Michael Chung
Location: SEOUL, KOREA

Bitpet is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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Blockchain-based Crypto Game Bitpet Announce their Impending Airdrop Event

Are Asian Markets Creating a Bitcoin Price Bubble?


Bitcoin’s price has been rising so fast over the past two months people don’t know what to expect next. In Asia, the price is climbing higher than most western exchanges. Now many people are wondering how healthy the current price spike is and whether or not the digital currency is in a bubble that might be followed by a deep correction.

Also read: Bitcoin Helps Venezuelan Families Avoid Starvation

Cryptocurrency Fever In Asia Is Pushing the Price Upwards, but How Long Will It Last?

Are Asian Markets Creating a Bitcoin Price Bubble?
Charles Hayter, Crypto Compare.

Everybody is extremely focused on the price of bitcoin and a number of altcoins increasing in value exponentially. Some people think the digital currency’s value gains are moving too fast while others believe overall global demand supports the price rise. Charles Hayter, founder, and CEO of the cryptocurrency data analysis firm Crypto Compare reached out to and detailed his opinion of the situation bitcoin markets are facing.

Hayter believes the increase is a bubble formation but questions the level of speculation. Market bubbles can burst in a short period of time, but some bubbles have lasted years.

“Media begets more price rises and triggers more exposure and buying,” explains the Crypto Compare founder. “The ICO phenomenon is contributing too as traders wash in and out of the major cryptos chasing and pumping the next ten bagger.”

Japan, Korea, and Asian interest is causing the price to rise and dragging up Western prices on the back of regulatory moves as well as scaling — The party will end as Asian premia comes back into line with Western markets or even drag them down as panic selling takes hold. The exact trigger is yet to be seen although last time it was Mt Gox.

Are Asian Markets Creating a Bitcoin Price Bubble?
Korean markets are buying Bitcoin at over $4000 – a $1400 premium or 50% premium to the USD price.

A Mixture of Factors Driving the Price

Currently, Asian bitcoin markets are seeing massive trade volume and higher prices per BTC in contrast to most exchanges worldwide. According to Hayter and Crypto Compare statistics, “Korean markets are buying Bitcoin at over $4000 – a $1400 premium or 50% premium to the USD price. Korean volumes hold 11% of total bitcoin trading.” Furthermore, prices are higher than the global average in Japan, India, and other regions as well. Alongside Bitcoin fever, Korea, and other Asian countries are also seeing significant Ethereum trade volume, as well as higher ETH price spreads.

Are Asian Markets Creating a Bitcoin Price Bubble?
Japanese markets are buying Bitcoin at over $3000.

Hayter believes the recent scaling proposal introduced by Barry Silbert may have given traders some optimism, but he believes it is still “unclear if the agreement can be implemented.” However, because some companies like Bitmain and others who opposed supporting Segwit in the past have agreed to the compromise, Hayter believes we are moving in the right direction.

So it’s a mixture of factors driving the price – the scaling solution is removing the negativity that surrounded bitcoin in the Western world, but the Asian markets with their premia are dragging the price higher with their irrational exuberance.

“Both Bitcoin and Ethereum markets have seen global dislocation as price premia have appeared specifically on the JPY and KRW markets Asian and more specifically Korean fever is taking hold,” Hayter adds.

What do you think about Asian markets driving up the price? Do you agree with Charles Hayter that we are in a bubble at the moment? Let us know your thoughts in the comment section below. 

Images via Shutterstock, Crypto Compare, and Pixabay.

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The post Are Asian Markets Creating a Bitcoin Price Bubble? appeared first on Bitcoin News.

Source: India News
Are Asian Markets Creating a Bitcoin Price Bubble?

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