Bitcoin Cash Price Analysis: BCH/USD’s Dips Supported Near $550

Key Points

  • Bitcoin cash price extended gains and moved above the $560 and $570 levels against the US Dollar.
  • There are two bullish trend lines formed with support at $555 and $535 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is currently correcting lower from the $575 high and it could test the $550 support.

Bitcoin cash price is back in a positive zone above $550 against the US Dollar. BCH/USD is likely to extend gains once it completes the current correction.

Bitcoin Cash Price Trend

Yesterday, we saw a decent upside move above the $530 resistance level in bitcoin cash price against the US Dollar. Later, the BCH/USD pair extended gains and traded above the $550 and $560 resistance levels. The upside move was strong as the price traded as high as $575. Later, the price started a downside move and declined below $570. There was also a break below the 23.6% Fib retracement level of the last leg from the $525 low to $575 high.

However, there are many supports on the downside near the $550 level. An initial support is near $555, which is also a pivot zone. Moreover, there are two bullish trend lines formed with support at $555 and $535 on the hourly chart of the BCH/USD pair. Below the first trend line, the 50% Fib retracement level of the last leg from the $525 low to $575 high is at $550. Therefore, the $550 and $555 levels are likely to act as strong supports if the price corrects lower further.

Bitcoin Cash Price Analysis BCH USD

Looking at the chart, BCH price is currently retreating from highs, but dips remain supported near $550. On the upside, the $575 and $580 levels are important hurdles for buyers in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is slowly moving back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is moving lower towards the 50 level.

Major Support Level – $550

Major Resistance Level – $575

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Report: Some Crypto Mining Apps Remain in Google Play Store Despite Recent Ban

Google Play Store still hosts crypto mining apps, despite the ban introduced a month ago.

According to a report by the Next Web published on August 28, several cryptocurrency mining apps remain in the Google Play Store despite the ban.

On July 27, Google banned crypto-mining apps from its Play Store. An update to Google’s developer policy read that “we don’t allow apps that mine cryptocurrency on devices.” The company gave mining app developers a 30-day grace period to revise their products in order to comply with the new terms.

The deferral period has passed, but some apps that enable on-device mining are still available on the Play Store, according to the Next Web. The site reportedly found eight apps, three of which have been removed. NeoNeonMiner, Crypto Miner PRO, Pickaxe Miner, and Pocket Miner are still live on the store, while Bitcoin Miner reportedly claims its offering complies with the terms introduced by Google.

While MinerGate has been removed from the store, its developers told Hard Fork that the app’s latest iteration deleted its on-device mining features in order to comply with Google’s rules. MinerGate told Hard Fork in an email:

“Mining on your phone directly was among the core features of the MinerGate app before the last changes in Google Play Development policies. With the last update, we are removing this functionality to meet the updated requirements.”

Earlier this month, Google Play Store hosted a reported Ethereum (ETH) scam application. Lukas Stefanko, a malware researcher from Slovakia, reportedly found a fraudulent “Ethereum” app on Google Play that had been offered for purchase at price of €335 or around $388. According to the researcher, the scam intended to dupe uninformed buyers into purchasing the app, who mistook it for the original Ethereum cryptocurrency.

In April, Google also announced that it is removing mining extensions from its Chrome Web Store after “90 percent” supposedly failed to comply with its rules. The move reportedly came in response to analysis of malicious “cryptojacking” present in extensions.

The Associated Press Partners With Blockchain-Based Journalism Firm

The Associated Press has partnered with a blockchain startup to secure intellectual property rights, support ethical journalistic practices, and track content usage.

The Associated Press (AP) news agency has inked a content licensing partnership with blockchain-based startup Civil, according to an official announcement Tuesday, August 28.

AP is reportedly interested in exploring ways to secure intellectual property rights, support ethical journalism, and track content usage with blockchain technology.

As part of the project, AP will deliver its content, including national and international news to Civil, so that news agencies can access it on the platform. Any newsroom wishing to access AP content will be licensed directly by AP.

As part of the collaboration, AP will own CVL tokens which, according to Civil, serve as an incentive device to keep newsrooms objective and accurate. Jim Kennedy, AP’s senior vice president for Strategy and Enterprise Development, explained the agency’s interest in digital ledger technology (DLT):

“AP has been pushing into new digital territory for more than two decades, and Civil is opening up another new space with interesting technology to explore and a commitment to good journalism. We’re eager to help cultivate the space and demonstrate our value to a new set of digital publishers.”

The Associated Press, founded in 1846 and headquartered in New York City, is one of the world’s largest news agencies. According to 2016 data provided by the agency itself, AP operates 263 news bureaus in 106 countries.

Civil is a startup that develops technology to track ownership rights and content usage in the journalism industry.

Other companies have also sought to leverage blockchain technology in order to provide more fair and objective journalistic practices. In July, Adblock Plus developer eyeo GmbH announced a blockchain-based browser extension Trusted News, Cointelegraph reported June 14. The add-on’s purpose is to specifically label “fake news” while whitelisting trustworthy sources and stories.

DApps May Be The Future, But Only 8 ETH and EOS Apps Are Actively Used

Decentralized applications, or DApps as they are better known, have been continually touted as the future of the internet and technology in general. And while more DApps are under development than ever before, with firms throwing millions of dollars and hundreds of hours of manpower at promising projects, this world-changing blockchain-based technology has been slow to garner interest from the average ‘crypto Joe’.

According to a tweet from Kevin Rooke, a Canadian cryptocurrency analyst/researcher, the Ethereum and EOS blockchains collectively host only eight DApps that are actively utilized (daily) by more than 300 users.

As later pointed out by Rooke, Ethereum is home to five 300+ user Dapps, while EOS’ blockchain hosts only three. But while Ethereum may top EOS in that category, the foremost DApp on the recently-launched blockchain takes the cake when it comes to volume, posting weekly tx volumes of a hefty $18.1 million.

These figures allude to the common criticisms some have with Ethereum, namely that the Ethereum blockchain is primarily used to issue ICO tokens, rather than to promote the use of a global, yet decentralized supercomputer. While this may be the case currently, a variety of promising Ethereum-centric DApps are in development, which may only increase the adoption of decentralized technologies and blockchain-backed assets in the future.

Ethereum’s DApp Landscape

As per statistics compiled by DAppRadar, a majority of the foremost Ethereum-based DApps are decentralized exchanges, like IDEX and Fork Delta, which intake hundreds of Ether in daily volume and over a thousand of active users.

Along with DEXs, collectibles and gambling applications have become a common sight on the metaphorical Ethereum block. Etheremon, a decentralized stab at the popular Pokemon pop culture phenomenon, and CryptoKitties are the third and fifth largest DApps respectively. While Fomo3D, which recently paid out over 10,400 ETH to a lucky user, occupies the last spot in the top five DApps.

EOS’ DApp Landscape

EOS’ DApp landscape is vastly different than Ethereum’s, as it is mostly home to blockchain-based games and gambling applications that many benefit from EOS‘ higher transaction throughput rate and 500 millisecond block time. Games like EOS Knights, Wizards.one, and MonstersEOS occupy the 1st, 3rd and 5th spot on EOS’ top DApp chart, as these games have garnered popularity by providing its users with a video game-esque experience via the medium of a blockchain.

DApp Active User Counts See Widespread Decline

The aforementioned figures published by Rooke mirror recently-posted research from Diar, a weekly fintech-centric publication, which also claims that the short-term prospects of DApps do not look too great. As reported by Ethereum World News previously, the number of active DApp users across multiple platforms has fallen by 56% from January’s high, from 528,000 individual addresses to 231,000 addresses now.

It is widely speculated that this decline in DApp usage is a direct result of declining crypto prices, as investors continue to cast aside their digital asset holdings in search for the next investment gravy train. Although the future of DApps may look dismal as it stands, many decentralization proponents still hope that these applications will eventually make a foray into the public spotlight.

Photo by Clément H on Unsplash

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Venezuelan President Orders Banks to Adopt Petro

In an effort to fight back against the ill-effects of his presidency’s economic policy, Nicolás Maduro has ordered Venezuela’s banks to accept the petro digital currency as a unit of account. The Venezuelan President has also increased public’s minimum wage, price of petrol, and VAT in his latest bout of economic reforms.

Venezuela’s Banks Forced to Accept Petro

According to a resolution by the nation’s Sudeban banking regulator reported by Channel News Asia today, all banks in Venezuela must adopt the petro digital currency. The move announced yesterday aims to alleviate the economic crisis that has plagued the country for several years now.

The situation in Venezuela only seems to be worsening and the International Monetary Fund (IMF) estimate that the rate of inflation there will reach as high as one million per cent later this year. Millions have fled the country to escape the crisis. Those that remain are frequently turning to the safe haven provided by digital currencies such as Bitcoin and Dash to protect what little of their wealth they have left.

The new economic reforms from the central government include a 3,400% increase in the required minimum wage, an increase in the rate of VAT from 12 to 16%, and an increase in the price of petrol.

In addition to these measures, Maduro is launching an offer of gold-backed bonds. It is hoped that these will promote responsible saving strategies for the people of Venezuela. The initiative will allow the nation’s citizens to buy “lingoticos” (little ingots) and will begin in mid-September. Maduro commented on state television:

“No one can say that gold loses its value.”

The socialist president was re-voted into power for an additional six years this May. However, the elections themselves were mired with controversy and many in the international community reject them as fraudulent. Maduro hopes that by fixing the nation’s fiat currency to the newly created petro, some form of financial stability will be possible.

The petro was launched in February of this year. Recently, Maduro has mandated that it becomes the nation’s second national currency. The controversial digital currency is supposedly backed by the nation’s oil reserves. It has also been alleged that the initiative is a Russian-led experiment in evading U.S. economic sanctions.

However, the people of Venezuela are exploring other options for themselves. Earlier this month, NewsBTC reported on the Dash cryptocurrency becoming more widely accepted by Venezuela’s merchants and consumers alike. Even the likes of Subway and Calvin Klein now allow people to use the digital currency to pay for goods.

The Dash Foundation has invested around $1 million in the nation to educate the public on using digital currencies securely.

Featured image from Shutterstock.

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Bitcoin Dominance Scales Back As EOS, IOTA, TRX Go On ‘Power Plays’

On Tuesday morning, crypto investors and traders alike awoke to an unexpected, yet promising sight, with a majority of crypto assets posting substantial gains for the first time in weeks, if not months. As the day elapsed, the market continued to trend upwards, with prices taking a slow, but steady pace moving up and up.

Bitcoin Undergoes A Slow But Steady Recovery, Analysts Bullish

As it stands, Bitcoin has found a short-term place to stand at ~$7,100 and is 5.1% on the day. Not only does BTC look good in terms of price action, recently surpassing the $6,800 resistance level, but volume figures have also made a resurgence. The collective value of all publicly-available Bitcoin trades has amounted to a hefty $4.9 billion.

This 5% move upwards marks Bitcoin’s fourth continual day in the green, which is Bitcoin’s “longest winning streak in more than a month” as Bloomberg puts it. Bloomberg analyst Eddie van der Walt also noted that there are a series of “momentum indicators” that indicate that this may not be a ‘bear market rally.’

Walt first brought up the 50-day moving average (MA), pointing out that BTC recently broke through this important psychological and technical level, which may act as a line of support or resistance in a variety of scenarios. Last but not least, the analyst noted that Divergence Analysis Inc.’s Buying and Selling Pressure indicator is signaling that BTC is ready to head higher. If Bitcoin’s price action does not pan out as he expects, Walt also indicated that $6,300 currently acts as the trend line, which would likely be a point of interest in the short to mid-term.

While the foremost crypto asset has had a good day, to say the least, BTC dominance actually scaled back, from 53.3% to 52.6% in the past 24 hours. Many attributed this slight dominance pullback to the breath-taking performance of altcoins, which have surpassed Bitcoin in terms of percentage gains. Ethereum currently is up 6% on the day, still finding contention at $300, while XRP, BCH, XLM, and NEO are up 7% on the day.

However, some altcoins have gone above and beyond the ‘call of duty’, with IOTA, TRX, EOS, and DASH posting astronomical gains which have dropped the jaws of many short-term speculators.

IOTA 

Following the release of IOTA’s Trinity Wallet desktop beta, along with the announcement of a Volkswagen/IOTA collaboration, the price of MIOTA has seen an unexpected resurgence. As it stands, IOTA is up a staggering 24% today, with the asset reclaiming its spot as the 10th largest crypto, ousting TRX for the first time in weeks. Many optimists expect for the price of the asset to continue higher, as the development of the IOTA ecosystem remains a hot topic in this industry.

TRX 

After a series of bullish announcements, which include the IOS app store launch of the Tron Wallet and the listing of TRX on Kucoin, TRX saw an influx of buying pressure, pushing the asset up by 10% in the past 24 hours. While TRX has not returned to its spot as the 11th largest crypto by market capitalization, it is clear that there is still investor interest in this asset.

EOS 

It is unclear whether there was a catalyst for EOS’ move, but the price of the asset has posted a strong 11% gain in the past 24 hours.

DASH

As reported by Ethereum World News, DASH surged by upwards of 26% following the announcement of a partnership with Krypto Mobile. While DASH has since quieted down, now only posting a 12% daily gain, this news is still of importance, as some mobile devices will come pre-loaded with DASH-related apps preinstalled, which will only help the adoption of crypto assets in the long run.

At the time of writing, the current capitalization of all crypto assets has reached $230 billion.

Photo by Jerry Yu on Unsplash

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Poll: 8% of Americans Invest in Cryptocurrency

Bitcoin Cryptocurrency Survey

Bitcoin (BTC)–A poll released by the analytics firm Harris Insights earlier in the month has revealed that roughly 8 percent of American adults are invested in cryptocurrency. While this number pales in comparison to a similar Gallup poll figure conducted in 2016, which found about 52 percent of Americans own stock, it does show a substantial makeup of investing for the relatively young industry.

The results come from a survey first circulated in June 2018, in conjunction with the cryptocurrency app Gem. In addition to finding 8 percent of adults currently invested in cryptocurrency, a large response to digital assets was negative, with 41 percent of the 2,000 polled stating they were not invested in crypto and nothing could motivate them to change their mind into doing so. Similar to previous reported findings, the largest reason for the lack of interest in cryptocurrency was price volatility and belief that the current market is still in a ‘Wild West’ phase, two risky features that make the form of investment less appealing to older generations. However, the poll did find that younger investors and those with less overall capital were much more willing to participate in the risky market, with Gem’s founder and CEO Micah Winkelspecht saying,

“We find that younger people with less income are more willing to put money in crypto,. My guess is that crypto is of the digital age. And the younger generation is of the digital age and used to doing everything on the internet.”

One of the more surprising results from the survey was the reluctance of polled adults, of any age, earning over $100,000 annually to invest in cryptocurrency, with the percentage of crypto investors increasing with decreased yearly income. In addition to cryptocurrencies being more in vogue with younger generations, Winkelspecht also posits that the upside of crypto investing outweighs the risk of loss and volatility to younger adults with less overall capital. He also admits that the trend of less wealthy investors putting money into cryptocurrency could be an effort to ‘get rich quick,’ ignoring the significant risks posed by the market in an effort to cash in on the regular double-digit swings of the industry.

“The cryptocurrency space is still in its Wild West phase, so there’s potentially some of that going on. When you have less to protect, you are more willing to take the risk.”

As Fortune points out, the survey was conducted in the middle of an extremely bearish year for cryptocurrency, with Bitcoin falling from an all time high last December of near $20,000 to below $7000, making the investment appear far more volatile with less enticing upside than if the same survey was conducted during last year’s bullish fourth quarter. Rather than continuing to build excitement for blockchain, Bitcoin and crypto adoption, most of the conversation surrounding the industry in 2018 has shifted to increased regulation and the possibility of a Bitcoin-based Exchange-Traded fund.  

Despite only 8 percent of polled investors currently participating in cryptocurrency, the survey found that 50 percent of American adults are interested in trying out the asset class in the future, similar to a finding reported earlier in the month that cryptocurrency will make up 5 percent of all investments in 2019. With the SEC still planning to weigh in on the debate over Bitcoin ETFs, it is possible that the market will continue to grow exponentially in response to increased regulation enticing institutional investors.

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‘Operation Cryptosweep’ Results in 200 Crypto-Related Investigations

The NASAA’s probe into potentially fraudulent crypto investment projects has resulted in over 200 investigations.

The North American Securities Administrators Association (NASAA) announced today, August 28, that its ongoing initiative “Operation Cryptosweep” has resulted in over 200 investigations of Initial Coin Offerings (ICOs) and crypto-related investment products.

State and provincial securities regulators in the U.S. and Canada launched probes into potentially fraudulent crypto investment programs as part of the NASAA’s “Operation Cryptosweep” in May. The initiative targeting suspicious crypto investment products is reportedly the largest such coordinated investigation by state and provincial officials.

The NASAA President and Alabama Securities Commission Director Joseph P. Borg said that in the course of their investigations, regulators have come upon numerous crypto-related activities that may constitute a violation of state and provincial securities laws. Such violations include failure to properly register a product before offering it to investors. Borg said:

“While not every ICO or cryptocurrency-related investment is a fraud, it is important for individuals and firms selling these products to be mindful that they are not doing so in a vacuum; state and provincial laws or regulations may apply, especially securities laws. Sponsors of these products should seek the advice of knowledgeable legal counsel to ensure they do not run afoul of the law. Furthermore, a strong culture of compliance should be in place before, not after, these products are marketed to investors.”

The announcement states that, in order to provide some measure of protection for investors, any project qualified as a security should be registered with the appropriate regulatory agencies, or apply for an exemption from registration.

The NASAA notes that even registered products can be fraudulent, so investors should perform their own due diligence before investing in ICOs or crypto-related projects.

Since the project’s launch in May, investigators discovered about 30,000 crypto-related domain names, most of which were registered last year when the Bitcoin (BTC) price reached its record high of $20,000.

Alleged scams reportedly used fake addresses, flashy marketing materials, and guarantees of up to a four percent daily interest rate, while failing to report the potential risks of crypto-investments. According to the update on “Operation Cryptosweep,” regulators have issued 46 enforcement actions.

Bitcoin Cash Drama: Battle Lines Drawn Ahead of Scheduled Hard Fork

The lack of consensus within the BCH community over November’s hard fork leaves the currency at risk of a split.

Controversial and untrusted figure in the Bitcoin Cash (BCH) community Cobra Bitcoin may prove to be the saving grace for the network’s future, after a highly contentious dispute between Bitcoin ABC and nChain threatens to split BCH into competing chains ahead of a scheduled hard fork in November.

Cobra, the anonymous owner of Bitcoin.org and previous critic of Bitcoin Cash, announced the Cobra Client hard fork in a Medium post and dubbed the upgrade a “safe implementation of the Bitcoin Cash protocol.” The proposed upgrade is in response to the “mostly non-important and non-urgent changes” proposed by major developers Bitcoin ABC and nChain.

Major developers clash over proposed upgrades

Bitcoin ABC, the biggest Bitcoin Cash client, initiated the stir in the BCH community after it released version 0.18.0 of its full node Bitcoin Cash implementation on August 20, which included major software changes like canonical transaction ordering and two new operation codes (opcodes).

Bitcoin ABC’s proposal came days after nChain, Craig Wright’s Blockchain development firm, announced their own fork of BCH, Bitcoin SV — or Bitcoin Satoshi Vision (SV) on August 16. nChain’s upgrade has seen support from Coingeek, the largest BCH mining pool.

nChain’s Bitcoin SV will increase block size from 32MB to 128MB and reinstate four “Satoshi opcodes” in an effort to restore the original Bitcoin protocol. Wright opposed the addition of new opcodes and other arbitrary changes to the network and stated nChain would revert to version 0.1.0 implementation in order to preserve long-term stability for BCH.

Jihan Wu, Bitmain founder and major supporter of Bitcoin ABC’s initial hard fork of Bitcoin in 2017, weighed in on the debate and dismissed Craig Wright’s baseless opposition to the fork, calling him a “fake Satoshi.”

Ethereum founder Vitalik Buterin also took a strong stance against Wright, saying in a tweet that “the BCH community should NOT compromise with Craig Wright to ‘avoid a split’ and should embrace it as an opportunity to conclusively ostracize and reject him.” Buterin called Craig Wright a “fraud” after hearing him speak at the international Blockchain forum Deconomy in April, alluding to Craig’s claim of being the creator of Bitcoin.

Cobra proposes a compromise to settle the drama

Cobra previously caused outrage in the Bitcoin community after suggesting changes to Satoshi Nakamoto’s white paper and also suggested changes to the original Bitcoin proof-of-work (PoW) consensus algorithm, stating a need for more decentralization.

Now, in an apparent effort to save the reputation and future of Bitcoin cash, Cobra is pushing for a sensible approach to the network’s upgrade to avoid a split. Cobra stated the necessity to avoid interrupting service to users, which will cause irreparable damage to BCH’s reputation and value, and that if there is no consensus, then it is best not to make any changes at all.

Cobra Client is a conservative approach and won’t add any new changes due to the lack of consensus on new opcodes and canonical transaction ordering proposed by Bitcoin ABC. Instead, Cobra’s fork will implement replay protection to prevent BCH transactions from being duplicated across alternate chains, in case of a splintering of BCH — which still has a strong possibility.

Cobra Client solicited support from a broad portion of BCH stakeholders to prove that the upgrade is a viable option for the BCH protocol. Cobra Client claims to have nearly 25 percent of existing BCH hashing power backing the upgrade and that a major exchange will continue the use of the BCH ticker symbol after the changes in November. Cobra Client also addressed the decrease of BCH use in commerce by securing deals with major businesses that have agreed to test the upgrade.

Ideological divisions in BCH community

Bitcoin ABC, who is responsible for the original BTC/BCH hard fork in 2017, and Wright were once in unanimous agreement that Bitcoin Cash was Satoshi Nakamoto’s ‘true vision’ for Bitcoin. But the new updates have caused a schism in the BCH community, with nChain and Coingeek claiming Bitcoin ABC’s recent move is a deviation from Satoshi’s original white paper vision.

Proponents of Bitcoin ABC’s changes argue the new features will make implementing a smart contract framework in the protocol more efficient and improve scalability. Around two-thirds of node operators use Bitcoin ABC, but that could change if a compromise between developers isn’t reached soon.

Wright, who claims to be Satoshi Nakamoto, stated in a recent blog post on Medium:

“Something people fail to understand about Bitcoin is that it is intentionally limited[…] This is purposeful[…] [It] is designed to be stable money and, for that reason, it is not designed to have new opcodes added outside the need for a few security-based replacements or to be altered.”

Still no consensus, answers for the future of BCH

Coingeek is the largest BCH mining pool and supporter of nChain’s proposed changes. The mining poll experienced an increase in its hashrate to 28 percent around the same time of the announcement of Bitcoin SV.

Bitcoin Cash Mining Distribution

Peter Rizun, the chief scientist of Bitcoin Unlimited — a development team accounting for nearly one-third of all full node clients — tweeted his position on the matter, saying Bitcoin ABC should hold off on its plans until more evidence proves its benefits.

The Bitcoin Cash community tuning into the drama is keeping a close eye on mining pools, since miners ultimately cast the vote with their hash power. The conflict within the BTC community represents an ideological schism among developers’ vision for the future of Bitcoin Cash in accordance with the principles set forth in Satoshi’s original white paper.

The Cobra Client upgrade is a safe bet, but Bitcoin ABC and nChain’s fundamentally opposing positions makes a split of BCH seem inevitable.

Almost Half of the World’s Top Universities Offer Cryptocurrency or Blockchain Courses

According to new research conducted by cryptocurrency exchange Coinbase and research firm Qriously, 42% of the world’s top 50 universities are now offering at least one course in the realm of blockchain or cryptocurrency. The interest in these classes spans across majors and countries.

The report, which was posted on Coinbase’s Medium page, crystalized the results from Qriously’s surveys of 675 U.S. university students, 50 international universities, and interviews with professors and students. One such university that is offering a significant amount of cryptocurrency and blockchain courses is New York University (NYU), who is ranked 30th in universities in the U.S. according to U.S. News and World Reports.

The first NYU course on cryptocurrencies was offered in 2014 by the finance department chair, David Yermack, who enrolled a total of 35 students. In the years since, it is no secret that interest in cryptocurrency has grown greatly, and this growth is reflected in the enrollment numbers for the same class. For the Spring semester of 2018, the same class saw enrollment of 230 students, a significant increase.

Yermack spoke to Qriously about the importance of the class, saying: “A process is well underway that will lead to the migration of most financial data to blockchain-based organizations. Students will benefit greatly by studying this area.”

Cryptocurrency Interest Spans Across Academic Disciplines

Interestingly enough, interest in blockchain and cryptocurrency spans across academic disciplines and majors, ranging from computer science to anthropology.

The report also found that students in all types of majors were interested in studying the technology. Dawn Song, a computer science professor at UC Berkeley, spoke about the widespread interest in crypto, saying:

“Blockchain combines theory and practice and can lead to fundamental breakthroughs in many research areas. It can have really profound and broad-scale impacts on society in many different industries.”

Students Showing Great and Growing Interest in Cryptocurrency 

According to the Coinbase survey, 9% of current college students have already taken a course on blockchain or cryptocurrency, which is a relatively small number. Part of the reason the number of students have taken a crypto course is due to limited offerings, which are likely to grow in the coming months and years.

The survey also found that 26% of students want to take a cryptocurrency course, and 18% of college students already own cryptocurrency. The ownership in cryptocurrency spans across majors, with the highest ownership by major falling into those in the medicine field at 19%, followed closely by computer science at 18%.

Part of the widespread interest is due to the number of job offerings available to graduating students with knowledge of blockchain and cryptocurrency. While speaking about the amount of crypto-related law jobs, Campbell Harvey, a Professor of international business at Duke University, said:

“If you’re graduating from law school it’s a tough market these days. However, the law students that are trained in blockchain, they don’t need to apply anywhere. People are just asking them to join their firms.”

This sentiment was shared by Benedikt Bunz, a doctoral student at Stanford focusing on cryptocurrencies. He said that “if you’re an expert in cryptocurrencies and cryptography you’ll have a difficult time not finding a job.”

Featured image from Shutterstock.

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