VC Predicts Bitcoin at $1 Million, as Joe Kernen Finds Flaw in the Arguments

Early Bitcoin investor, Venture Capitalist and a disciple of Warren Buffet, Chamath Palihapitiya is still bullish on Bitcoin. Chamath who is the CEO and founder of Social Capital has also worked with Facebook during its early days.
Chamath has first bought Bitcoins when it was around $100 even less. Reportedly, he has been accumulating Bitcoins since 2013 and had 5% of all the Bitcoins back then. He still believes that “it is the single best hedge against the traditional financial infrastructure.”
During the bull run of 2017 in December Chamath also saw Bitcoin above $100,000. He told the media back then,
“I think this thing is a $100,000 a coin probably in the next three to four years.”
Chamath on Bitcoin as “schmuck insurance” (Source)
It seems that his predictions are lining with the other predictions made by Bitcoin proponents which all see Bitcoin to $100,000 sooner than one can expect. He also stands by his predictions of Bitcoin reaching $1 million in the next 20 years, which he made in 2013.
Also Read: Apart from Bitcoin, Peter Schiff Also Owns ETH and BCH – Has He Turned Pro Crypto?
Nevertheless, critics continue to raise doubts on the adoption rate of Bitcoin and it’s lack of inherent value. Joe Kerner from Squackbox pointed out that Bitcoin should be used for its inherent value as a decentralized, immutable public distributed ledger, while the price is currently rising on the pretext of the fall of the economy. Hence, there seems a strong discrepancy between the reason for the rise.
However, Chamath was consistent with his believe in Bitcoin more as a hedging instrument than anything else. He told the media,
“This is now a confidence game. There is no real utility in this. This is a fantastic fundamental hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly,”
The currency wars that the world Governments are currently pursuing by printing large amounts of FIAT currencies, will ultimately have a negative effect on the economy. Moreover, it has created large fiscal deficits in the national economy which can be repaid only by increasing inflation further.
Also Read: Why is this Distressing News from Deutsche Bank a Good Signal for Bitcoin?
Bitcoin with its limited supply and uncorrelated characteristics is, hence, providing an exit from the system. It provides an opportunity for people to hedge their value against inflation and the declining global economy.
Do you agree with Chamath or do you also share Joe’s doubts? Please share your views with us. 
The post VC Predicts Bitcoin at $1 Million, as Joe Kernen Finds Flaw in the Arguments appeared first on Coingape.
Source: CoinGape

Ripple XRP Price Prediction: Projected Analysis of 2019 & 2020

Ripple has the potential to hit $1.0 by the end of 2019 and increase towards its all-time high by the end of 2020.
Ripple’s XRP demand in the future will mainly come from banks as adoption increases.

Ripple has over a short time become a global sensation in international funds transfers. The San Francisco-based blockchain startup is now for developing cutting edge payment systems connecting banking institutions globally. Ripple already has more than 200 partners under its RippleNet network. In addition to that, Ripple launched xRapid payment system that helps banks have access to liquidity while making expansion to new markets much easier. This and much more will be covered in this article as we attempt to dissect Ripple’s past performance and predict the future of the project.

Ripple Overview 2018
Ripple XRP Price Prediction 2019 and 2020
Experts’ prediction for Ripple’s XRP for 2019 and 2020
Project Outlook
Ripple XRP Technical Analysis
Ripple XRP Future and Growth
Buying XRP with Credit Cards
Ripple XRP Price FAQs

Ripple Overview 2018
2018 was the year of innovation and expansion for Ripple. January started with the announcement that IDT corporation and MercuryFX were joining hands with both MoneyGram and Cuallix in piloting xRapid. Shortly after that, SBI Holdings; a Japan-based financial group said that its soon to launch cryptocurrency exchange will support XRP only at the time of launch. Lianlian International joined RippleNet in February to leverage xCurrent for cross-border transactions. In March, Ripple said that Japan Bank Consortium (JBC) was going to release a mobile application ‘MoneyTap’ supported by Ripple’s blockchain. April was the month where many other banks joined RippleNet including Standard Chartered buying a stake in Ripple.
The rest of the months until October were spent signing more banks to join RippleNet until the groundbreaking launch of xRapid in October. The platform launched with MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union is the very first clients. Another customer CIMB group joined on November 14.
In terms of XRP price performance, the digital asset opened the year (2018) trading around $2.24 and surged to its all-time high around $3.81 before being caught up in the bear pressure that lasted all year long. Ripple lost about 84% of its value in 2018 to close the year on December 31 at $0.36.

Ripple XRP Price Prediction for 2019 and 2020
Looking at Ripple’s daily chart, we see an asset that has stagnated since the beginning of 2019. In spite of the upward correction in the market, Ripple has not been able to recover from the fall that ensued following the rise during the Christmas of 2018. XRP/USD had touched $0.48 but failed to sustain further upwards movement leading to declines that entered into January 2019 but found support just above $0.2800. Generally, the crypto market has been on an upward momentum, however, Ripple has not managed to catapult itself above $0.4 instead, the price is staying in a wide range between $0.4 and $0.2800.
XRP has the potential to hit $1.0 by the end of 2019 and increase towards its all-time high by the end of 2020; a year that has been said by many to be a magical year for cryptocurrencies. Continued development for the financial sector coupled with increased institutional adoption is bound to positively impact XRP value in the long run.

Experts’ prediction for Ripple’s XRP for 2019 and 2020


According to the prediction by CoinSwitch, Ripple’s blockchain banking systems like RippleNet and xRapid have experienced a lot of growth in 2019 compared to 2018. The systems are expected to expand to more regions by onboarding more banks and payment providers around the world. According to CoinSwitch:
“Ripple recently announced plans over convergence into one stack. It is expected for a series of events to get implemented in 2019 like institutional money flowing to XRP token, it’s continued and steady growth to reach its unique network effect. These all can undoubtedly make Ripple stand out in a crowd of digital currencies. If these advancements take place, then XRP might reach $1.20 by the end of 2019, to be conservative. At most, it might even reach $2.”


Price predictions apply most to the long-term investor who needs to have a clear forecast for the next year to five years. UsLifted expects Ripple go into a lot more ventures, as a result, XRP will gain in value.
“In short I expect the figures to get 2.5x of 2018. Meaning in 2019, XRP token will be $8.025 and the market capital will be at $31.08 billion US Dollars,” UsLifted analyst writes.
The Analyst continues with Ripple XRP price prediction for 2020:
“I expect 2020 a magical year where the crypto market will reach to its all-time high. You believe it or not but I strongly believe that by the end of 2020 XRP will reach to around $22.79 with the supply tokens 38,739,145,924. Hence Ripple will have a lifetime high market capital of $88.28 billion dollars.”
Most experts are bullish on XRP and all are banking on Ripple’s prospects and plans for the future as well as the adoption of its blockchain systems. Tremendous growth is expected in 2019 and 2020. Similarly, XRP predictions go as far as 5 years from now. GetEx reckons that:
“Some experts have pointed to a projected value of $4.52 in 2023. They suggest this growth based on recently-divulged partnership plans with a number of European and Latin American banks and payment systems. That integration would boost development of the underlying XRP and Ripple technology, (and naturally the price of the asset).”
You Might Also Like: Trader Makes a Wild XRP Price Prediction, $1,000 Per XRP
XRP Price Analysis – XRP/USD 4-hour chart
xrp price prediction: 4 hours chart (XRP/USD) Chart Source: Tradingview
Ripple XRP Technical Indicators
RSI 4-hour: -24.95
100 SMA 4-hour: $0.31196
200 SMA 4-hour: $0.3243
Key support levels: $0.2800, $0.2600 and $0.2000
Key resistance levels: $0.3200, $0.3500 and $0.4000.

Project Outlook
According to Ripple’s website, the native token XRP provides banks and other payment providers with a robust reliable on-demand means to access liquidity for the much needed cross-border money transfers. Ripple use cases range from offering banks with liquidity in real-time without fail as mentioned, as well as payment providers who desire to enter new markets while lowering foreign exchange while at the same time speeding up transactions.
In comparison to other cryptocurrency projects, Ripple settles transactions in just 4 seconds while Ethereum does that in over 2 minutes and Bitcoin takes more than 60 minutes. Traditional banking systems lag behind by a large margin, 3-5 days. On the other hand, Ripple transactions per second (TPS) stand at 1,500 but has the capacity to achieve levels of Visa.

Ripple XRP Technical Analysis
Technically, Ripple has a bearish bias in both the short-term and the long-term. The third largest crypto asset has been trimming gains from the highs formed in April. In fact, the declines are maintaining a downtrend within a descending channel. The declines towards the end of April tested the levels below $0.2800 support before revamping the trend upwards within a narrow ascending channel. There was a slight break above the 100 SMA but the momentum lost steam at the 50 SMA. The resistance at this level has opened a Pandora box and XRP/USD is currently bleeding below $0.3000 short-term support.
Source: Shutterstock
As far as other technical indicators are concerned XRP/USD is primed for losses in the near-term. However, a recovery past $0.33 and $0.35 levels is needed for a correction towards $0.4 and $0.5 critical levels. The RSI 4-hour is deep in the oversold to show the increasing strength of the bearish momentum. Any correction below $0.2800 could be the beginning of a devastating drop towards $0.26 support and $0.2.

Ripple Future and Growth
Ripple is often regarded as the future of cryptocurrencies in terms of technology infrastructure as well as mainstream adoption. Armed with its flagship products: RippleNet and xRapid the network is set to be the bridge between cryptocurrencies and the traditional banking system. More importantly, Ripple believes that it will soon overtake SWIFT to become the preferred cross-border money transfer platform. SWIFT has its own share of struggles that are dealing with including long processing time and unreliability.
On the other hand, Ripple as mentioned above already has signed partnerships with more than 200 banking institutions. Besides, this number is expected to grow with the current expansion to the Middle East and the Asian regions. Ripple’s XRP demand in the future will mainly come from banks as adoption increases supported by the need to send money across the border faster, reliably and a low cost.
Interesting: CMU Partners With Leading Payments Company Ripple To Accelerate Innovation in Blockchain & Cryptocurrency

Buying XRP with Credit/Debit Card
Access to cryptocurrencies has improved significantly in the past few years. Initially, users were required to buy either Bitcoin or Ethereum before exchanging the coins for XRP on an exchange platform. While the situation has improved greatly, most users still find it difficult to buy XRP directly using credit/debit cards because only limited platforms permit this type of direct purchase


Changelly is an incredible crypto exchange website that has been developed to serve the digital asset class. The platform incepted in 2013 now supports the purchase of XRP using either credit or debit cards. It is one of the most secure websites to buy XRP and other supported cryptocurrencies while the process is not complicated.


This is another secure website you can safely buy XRP using the credit card. Coinmama also supports other payment methods including SWIFT and SEPA. The platform allows the purchase of XRP using both USD and EUR. It is currently available in 198 countries and is proud of its 24/7 customer service support. Once the account has been created and verified, a user is allowed to place the order for XRP.


This website offers one the fastest ways to buy XRP using a credit card. Supported currencies include USD, EUR, GBP and other local currencies. The process is simple as creating a user account, getting verified and lastly placing the order.
Currently, there are hundreds of websites and exchanges that allow the purchase if XRP using credit and debit cards. The above are just but a few of them. It is important to research and chose a platform that works best for your preferences.

Ripple XRP Price FAQs

What is the current price of Ripple (XRP)?

XRP is currently trading at $0.2982 on Binance.

What is going to be Ripple (XRP) price tomorrow?

As far as technical levels concerned, Ripple will trade between $0.2900 and $0.3200.

Is Ripple a great asset for investment?

If the above predictions are anything to go by, Ripple indeed is a good asset to invest in especially for the long-term holder.

What will be the value of Ripple (XRP) in the next five years?

Ripple is predicted to trade at $4.52 in the next five years.

Is Ripple inclined to fall or rise in the next five years?

Ripple is the future of cryptocurrencies and the banking sector. Therefore, it has immense potential. Adoption and will result in an increase in value and the demand of XRP.

What will be XRP price in $2020?

Ripple will exchange hands around $3.53 by end of 2020.

Ripple Overview 2018X1Ripple XRP Price Prediction 2019 and 2020X2Experts’ prediction for Ripple’s XRP for 2019 and 2020X3Project OutlookX4Ripple XRP Technical AnalysisX5Ripple XRP Future and GrowthX6Buying XRP with Credit CardsX7Ripple XRP Price FAQsX8
The post Ripple XRP Price Prediction: Projected Analysis of 2019 & 2020 appeared first on Coingape.
Source: CoinGape

Tron TRX Price Prediction: Projected Analysis of 2019, 2020 & 5 Years

Tron is now a worthy competitor to Ethereum following the mainnet launch in 2018.
Technical analysis place Tron in a bullish phase both in the long-term and short-term.

Let us shed some light on the most asked question we get about Tron- it’s the Tron price prediction.
All ardent followers of the cryptocurrency market would agree that Tron (TRX) is one of the most ambitious projects in the industry. The project has come from a state where it had few if not non-existent use cases to a point that it sees itself as a worthy competitor of the largest altcoin Ethereum (ETH). Indeed, one would say Tron is the perfect example of ‘fake it until you make it.” That’s why predicting the value of Tron has become even more important to us.
Theatrics aside, Tron is currently ranked as the 11th largest digital asset on the market having a market capitalization of $1.5 billion. In the last 24-hours, the data on CoinMarketCap shows the crypto having a trading volume of $636 million. Although Tron has a total supply of 99,281,283,754 TRX only 66,682,072,191 TRX tokens are currently in circulation.
Tron is listed on most of the leading crypstocurrency exchange platforms including the largest Binance. Other platforms that support Tron include OKEx, HitBTC, Huobi, CoinBene, Bitrue, Upbit, IDAX,, Bittrex and Bitfinex among many others.
In this article, we try to give our esteemed readers an overview of the Tron cryptocurrency project, past and future performance, the future of the project, predictions as well as the FAQs section where you can quickly equip yourself with information regarding Tron.

Tron price prediction 2019
Tron price prediction 2020
Tron price prediction 5 years
Tron 2018 in a nutshell
Has Tron found a bottom yet?
The future of Tron
Tron technical analysis
Tron project overview
Tron wallet

Tron Price Prediction 2019
Price prediction is mostly based on the state of the project at present and how it has performed in the past. Tron recently hit 2.7 million accounts registered on the network (setting a new record). The last three months have seen Tron grow consistently in the number of users. On several occasions, Tron has led the industry in terms of having the largest daily onchain volume and daily transactions. The number of dApps on the platform recently hit 400 although it is still far from the 2019 target at 2,000.
The entire cryptocurrency market extended the crypto winter into 2019 where digital assets trimmed the gains achieved in December 2018 massively. The fall in prices across the board was mainly attributed to investors taking a back seat following the extended bearish pressure. Bitcoin championed rally failed to revive the altcoins as it was expected until we had a breakout at the beginning of April.
Our prediction for Tron in 2019 places TRX at $0.08 at the end of 2019. Besides, Tron will embark on an incredible journey of breaking barriers to trade between $0.05 and $0.07 in the second and third quarters of the year. The network intends to sign several strategic partnerships including the rumored partnership with Liverpool Football Club. This coupled with increased development in terms of boosting privacy, security and privacy will continue to attract investors’ attention.
Tron Price Prediction 2020
Although Tron is trading at $0.024 following a 2% loss in the last 24 hours, the token is predicted to hit $0.2 by the end of 2020. It is also good to note that other experts on the market place TRX between $0.05 and $0.08 by the end of 2020 (prediction by TradingBeasts).
Towards the end of 2020, a bull rally will commence around $0.21 and $0.30 giving way for a bullish parabolic move like the one experienced in December 2017. on the other hand, Tron will exchange at $0.4 in 2020 however, investors should expect huge fluctuations this year.
Tron Price Prediction 5 years
Tron is expected to spark institutional investors in 2020 especially with the plan of turning TRX into an institution grade token. Many organizations are expected to embrace the blockchain technology this year in turn increase Tron (TRX) acceptance supported by increasing dApps. Predictions suggest that an investment in TRX at present will have an RoI of 1,536.75% by 2023 which means that TRX will likely to be trading at $0.54 in the same year.

Tron 2018 in a Nutshell
2018 was an incredible year for Tron as well the company’s issued token TRX. Besides, sticking to their roadmap, the network achieved various milestone that placed it on the global map and in direct competition with other similar platforms like Ethereum, EOS, and NEO. Investors expected Tron to deliver and the network outperformed itself.
At some point last year, Tron market share increased significantly pushing it into the top ten cryptocurrencies by market capitalization. Tron Foundation also released the mainnet which allowed Tron to transfer TRX tokens from Ethereum to its own protocol. The network then elected Super Representatives to ensure that the decentralization of the network was guaranteed. Moreover, 2018 is the year that Tron acquired the file-sharing platform, BitTorrent.
The mainnet launch elevated Tron to the level of Ethereum as a decentralized applications (dApps) building platform. As an independent platform, Tron blockchain is used to verify transactions while utilizing what is referred to as non-disruptive Proof-of-Authority consensus algorithm. Another significant achievement for Tron in 2018 was the groundbreaking partnership with PornHub; the leading website for adult content with more than 120 million users on a daily basis. Still, in 2018, the Tron community witnessed the token burns, Super Representative elections, and the incredible Project Atlas.

Chart Source: Bitcoin Exchange Guide
Has Tron Found a Bottom Yet?
Cryptocurrencies in 2019 including Tron seem to have found a significant support bringing to an end the crypto winter that dominated the market throughout 2018. Looking at TRX/USD trading pair chart, we see that the month-over-month declines in 2018 seem to have found support at $0.011. Tron has since corrected from this level to trade highs of 0.0377 but retraced over time to the current $0.0244. On the upside, gains are strongly capped at $0.0400 with sideways trading expected in a couple of months. Therefore, it is true to say that Tron hit a bottom and is patiently waiting for a breakout.
TRX/USD daily chart

Tron price Prediction Chart source: Tradingview
The Future of Tron
Tron is a project that many love to hate. However, it is factual that it has a very vibrant community that is mainly kept active and engaged by Tron’s founder Justin Sun. Sun has an interesting marketing flair around him. His marketing skills can make experienced marketing expert envious. However, the same outspokenness has proved detrimental to the project like the direct attacks between Sun and Ethereum founder Vitalik Buterin.
According to ZyCrypto, the future of Tron is bleak unless the network changes tactic in the near future. Take, for instance, reports say that 90% of assets are the channel to Tron Foundation during distribution while a meager amount of coins are set aside for future developments.
Nevertheless, as per the fundamentals, Tron future is still bright and could get brighter. Of course, there is no perfect team and the people behind the project have proved to investors that they can deliver before and nothing will stop them from doing so again.
You might also be interested in Tron MainNet Launch: Leaving No Stone Unturned to Become a Powerful Cryptocurrency
Tron Price Analysis
Let’s take a closer look at the technical levels displayed by this ambitious cryptocurrency token. The 4-hour chart shows Tron being not only a strong rebounder but also has the potential to recover to the highs achieved in April.  Following the elongated consolidation phase, green shoots began sprouting across the market. Tron alongside other digital assets pulled above 200 Simple Moving Average (SMA) marking the beginning of the leg formation for the bull rally that loomed. Correction above the range resistance at $0.0248 was the breakout point that Tron required to scale the levels above $0.0300 and even test the hurdle at $0.0320.
Tron TRX/USD 4-hour Chart

Tron Price prediction Chart source: Tradingview
Failure to break above $0.3200 allowed the battered bears to return for revenge a move that saw Tron lose a huge chunk of the gains accrued in April. The support at $0.0260 finally caved in due to bear pressure while the drop below the 200 SMA increased the bear influence on the market resulting in a further drop below the 23.6% Fibonacci level taken between the last drop from $0.02786 to a low of $0.0221.
April declines found balance at the swing low before rising again to usher in the new month of May. Although Tron has been bullish in the past couple of days, the crypto is back to trading in the resistance range before the surge in April began. The upside is limited by both the range resistance at $0.0248 and the 23.6% Fib level. We have seen a break above the trendline resistance but the 50% Fib level short-term support is still in danger.
Technically, Tron is bullish in the short-term but it lacks support and a catalyst to sustain growth towards the April highs. The RSI is above average and even moving higher above the rising trendline. It is essential that Tron pulls above the 200 SMA at $0.2600 to encourage more buyers to take positions in order to see a significant recovery that could even hit $0.035 and $0.0400 in the medium-term (before end of June).
Tron Key Technical Indicators
RSI 4-hour: 58.79
200 SMA 4-hour: 0.0260
Short-term trend: Bullish
Long-term trend: Bullish
Key support areas: $0.0240, $0.0230, $0.02192 and $0.0210.
Key resistance zones: $0.0260, 0.02742 and $0.0320.
Tron Price Frequently Asked Questions:

What is the current price of Tron (TRX)?

Tron is currently valued at $0.0246 (on Coinbase).

What will be Tron (TRX) price tomorrow?

According to the above technical analysis, Tron (TRX) is likely to trade above $0.0250 tomorrow.

Is Tron a recommended asset for investment?

Considering the predictions explored in this article, Tron is a good asset to invest in. However, it is more profitable for the long-term holder or otherwise known as HODLers.

What is Tron predicted price in five years?

As per the prediction above, Tron is likely to trade at $0.54 after five years from now.

Is Tron inclined to a fall or rise in the future?

In the future, we will see Tron trading much higher than the current price. However, as a cryptocurrency tradable asset, there will be ups and downs. The important thing is that we will have higher highs and higher lows.

What will be Tron price in 2020?

Tron is predicted to trade at $0.2 by the end of 2020.

What will be Tron’s price in 2025?

Tron will exchange hands between $0.5 and $0.6 in 2025 (exactly 6 years from now).

Can Tron Crash?

Tron is unlikely to crash based on the analysis we have done on the project. Tron has become not only bigger but also better. The developers at Tron have not disappointed before and are definitely not going to start today.

Where can I buy Tron (TRX)?

You can buy Tron in all the exchanges that support TRX as a tradable asset, some of which are mentioned here.

Tron Project Overview
Tron describes itself as the largest decentralized platform in the cryptocurrency world. The website says that its high throughput is as a result of improving the transactions per second (TPS) of the network “which has surpassed Bitcoin and Ethereum, to a daily-use practical degree.” Tron also claims to be one of the most scalable networks in the industry in a way that applications are allocated diverse deployment methods on Tron due to the extremely scalable and effective smart contracts. Moreover, the platform has the ability to support colossal volumes of users.
Additional details on the Tron website explain that the network is more reliable in terms of network structure “user asset, intrinsic value and a higher degree of decentralization consensus come with an improve rewards distribution mechanism.”
In terms of performance, TRX consistently handles 2,000 transactions per second (TPS) around the clock. Tron’s TPS dwarfs Ethereum’s 25 TPS, at the same time, it is almost gigantic when compared to Bitcoin’s transactions per second which range between 3 – 6.
Tron Wallets
A crypto wallet is an essential part of any cryptocurrency network because it connects the users to the blockchain. It allows sending, receiving and storing of digital tokens or coins in addition to being an integral part of decentralized applications (DApps).
Tron has several types and versions of wallets including the newly launched TronLink. The wallet is mainly used in the access of DApps on the Tron protocol. It can also be used to send and receive TRX, TRC10 and TRC20 tokens. Users who want to use TronLink are required to download and install a browser extension supported by Chrome. Thereafter, they can create a new wallet and remember to keep the private keys secure.
TronLink user interface is very simple and precise in that it shows the account address, balance, bandwidth, energy as well as the number of tokens stored.
Tron Wallet
Tron wallet, on the other hand, comes in handy for today’s user who prefers to use his/her smartphone to do almost everything as long as it is internet based. Tron Wallet is among the most advanced wallets in the industry. It comes as complete package giving the user the ability to transfer cryptos, show the history of the transacting account, connect to DApps in addition to supporting fundraisers and Super Representative voting. This wallet has support for TRX and other tokens running on Tron’s mainnet. Moreover, various platforms are supported including the web, mobile, and desktop.
It is essential to do your own research before buying any cryptocurrencies because no one can predict the price accurately. This article is meant to help form a basis for your decision to invest in Tron. However, additional research will go a long way in helping you make the right judgment.
Tron price prediction 2019 tron1 Tron price prediction 2020 tron2 Tron price prediction 5 years tron3 Tron 2018 in a nutshell tron0 Has Tron found a bottom yet? tron4 The future of Tron tron5 Tron Price analysis tron6 Tron Price FAQs tron7 Tron project overview tron8 Tron wallet tron9
The post Tron TRX Price Prediction: Projected Analysis of 2019, 2020 & 5 Years appeared first on Coingape.
Source: CoinGape

As The Digital Dust Settles, Where Will Crypto Markets Go Next?

As the digital dust begins to settle from the Bitfinex and Tether fiasco analysts are looking for clues as to where Bitcoin prices could be heading next. Many have viewed the recent events as bearish and the instant reaction of crypto markets on Friday coupled with the media FUD storm appear to have confirmed it.
After hitting a new 2019 high on Wednesday of $5,650 many were hopeful of a push past the 50 week moving average and on to $6,000. By the end of the week Bitcoin had dumped to $5,180 losing around 8 percent. BTC has recovered marginally however and held above $5,250 for the past 24 hours.
A return to the monthly support zone of around $4,500 has been predicted by a number of crypto traders and analysts.

$BTC looks bad, unless we get some kind of miracle magic bounce red box (monthly support) is to be expected.
— SalsaTekila (JUL) (@SalsaTekila) April 26, 2019

Others have observed similarities with the current market structure and that of December last year. Full time crypto trader ‘Financial Survivalism’ sees more consolidation ahead for Bitcoin, even if it does fall back once again.
“This tells me that could be in for another prolonged period of consolidation. If it happens between $4,200 – $5,800 then be weary of the golden cross. Price needs to support above the EMA’s or else a false signal is likely. If we support > $4.7K then golden cross is likely valid.”

1/2 The current $BTC market structure is looking very much like an inverse of what we saw during December 2018. First notice the bull div on the RSI with two daily red 9's. Currently we have a bear div after two green 9's. The ADX is also rolling over after spiking above 70.
— Financial Survivalism (@Sawcruhteez) April 25, 2019

Bitcoin has maintained most of its recent gains which is a strong sign for further consolidation rather than another big dump. Short term movements and reaction to news is just the result of day traders making rash decisions. The long term picture for Bitcoin is still very positive though there will always be a few bumps in the road now and then.
What About Ethereum?
A similar scenario has played out for Ethereum which dumped harder and faster than Bitcoin as the week came to a close. From a seven day high of $176 ETH slid over 13 percent all the way back to just above $150. At the moment Ethereum is trading at around $155 which is its lowest level since the beginning of April before the big rally started.
Analysts have noted critical support at $143 where a roll over could cause a major dump back to $115. $200 Ethereum is starting to look a long way off again as it hasn’t been at this level since mid-November.

$ETH:As long as this structure is maintained, bulls are safe. Below $143, it's a rollover towards $115.
— The Crypto Monk (@thecryptomonk) April 26, 2019

Crypto markets in general are still trading within their range bound channel above $170 billion. Last week’s dip was not as severe as expected and most gains from the early April rally have been maintained. Further losses however could see market capitalization tumble back to $140 billion pretty rapidly.
More consolidation appears to be the most likely outcome for crypto markets over the next few weeks. Daily volume is still high, almost $50 billion, and the fallout from the recent news appears to have been limited.
Image from Shutterstock
The post As The Digital Dust Settles, Where Will Crypto Markets Go Next? appeared first on NewsBTC.
Source: New

Potential Pullback Looms As Bitcoin Approaches Major Resistance Above $5,500

The arguments for a big market correction are gaining strength. As Bitcoin approaches another heavy resistance barrier buying pressure is likely to diminish as previous charts have shown. If and how far it will fall remains the big question this week.
Bitcoin Approaching 50 Week MA
When Bitcoin broke through the 200 day moving average there was a lot of optimism for a move up towards $6,000. However another big barrier stands in its way in the form of the 50 week moving average which is aligned with further horizontal resistance.
According to trader and analyst Josh Rager this could create a pivotal point for Bitcoin which has previously been held down by this technical indicator;

$BTC history says price tops no higher than $5,634 before a pullback
Previous bear market $BTC was held down securely under the 50-Week MA and current 50 MA sits near $5,634
Add to this horizontal resistance near $5,559 & you've got a very strong case for a potential pullback
— Josh Rager (@Josh_Rager) April 8, 2019

Historically then Bitcoin’s highest price in the short term may only be $5,634 where it meets the 50 week moving average. During the bear market of 2015 this level proved to be a reversal point of the rally which led to a final capitulation before any major recovery began. The dump then saw BTC fall to around $200 which was 82% down from its previous all-time high. Sound familiar?
The 200 week moving average, not to be confused with the 200 day MA which Bitcoin broke through last week, has been a solid support zone then and today.
Pullback or More Consolidation to Come?
Charts are wonderful things as they can tell whatever story you want to hear. As a counter to the potential pullback theory is continued consolidation. Bitcoin consolidate for 150 days around $6,000 before breaking down. When it did it dumped 50%.
BTC also consolidated for 130 days at around $4,000 before breaking out which has driven a 25% gain.

$BTC consolidated for 150 days at 6000 before breaking down.Once it did it went down more than 50% in a month.$BTC consolidated for 130 days at 4000 before breaking up.We're currently up 25%.
I don't really see the rush to short.Even if we get rejected it'll take a while.
— DonAlt (@CryptoDonAlt) April 8, 2019

The call for Bitcoin back at $6,000 is also a strong one however at the moment it appears that the bearish outlook is the most dominant. Trading is largely psychological and many make the same mistakes time and time again. As Twitter’s ‘CryptoFib’ put it;
“The thing about trading that cracks me up is this.  Everybody wants to buy when it is going up into resistance.  But, they never buy when it is going down into support.  Amazing how that happens and why 90% of traders fail. It is all in the mind folks.”
These behavioral patterns are precisely what determine the levels of support and resistance in the first place and drive market momentum in both directions.
At the time of writing Bitcoin was still holding up above $5,200, but only just after hitting $5,300 twice and pulling back twice. From the start of last Tuesday’s big pump when Bitcoin reached $4,700 it is up over 11%. What is guaranteed is that when it does correct it will drop hard and fast before finding a new support level which is likely to be in the low $4,000s.
Image from Shutterstock
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Source: New

Cardano [ADA] price set to bounce off resistance and head downwards; Here are the important levels to look out for

Cardano, the tenth largest cryptocurrency on CoinMarketCap had a decent rally over the past few days. The price of the cryptocurrency surged by 133% since December 16, 2018. However, the rally seems to be coming to an end as price candles have formed at the end of the ascending channel/rising channel.
Will the rally continue? Will the rally hit a roadblock and bounce back? If so, what are the levels to look for?
Source: TradingView
The one-day chart of Cardano showed the formation of a rising or ascending channel. This is a bullish pattern, provided a few conditions are met. These conditions include rising volume and divergence between price and other indicators, like RSI.
However, the current channel shows a higher probability of the price breaking to the downside due to two reasons.

The volume is declining after reaching a peak on March 23, 2019
There is a resistance [$0.06925] at the end of the channel

These two reasons are further corroborated by the Relative Strength Index, which was in the oversold zone. This indicated that the price has exhausted its buying momentum and has nowhere left to go, but downside.
Fibonacci Retracement Confirmation
Source: TradingView
After the previous surge in price took place between December 16, 2018, and January 10, 2019, the prices corrected from $0.05245 to a support at $0.03617, which also happened to be closest to the 61.8% Fibonacci level.
The Fibonacci Retracement for ADA in the current ascending channel shows a possible retracement to 61.8%, which also happens to be a support level at $0.04962.
Cardano seems to have exhausted its bullish momentum as it rallied one last time. The volume of Cardano showed a possible move to the downside. The following levels could be a possible correction for ADA if it broke to the downside, i,e $0.04962. Other supports for ADA are at $0.04523, $0.03617, and $0.02720.
The Cardano Ecosystem
There were quite a few updates, ranging from managerial restructuring to exchange announcements in March 2019, all of which could be speculated to have caused a surge in price. The most recent one was the integration of Cardano [ADA] with the cryptocurrency hardware wallet Ledger.
Additionally, Cardano became a founding member of the International Association for Trusted Blockchain Application [INATBA].
Other major updates in the Cardano ecosystem include the launch of the 1.5 main net. The release was part of the concluding stages of the Byron phase of development, including an improved proof-of-stake protocol. This development would ensure better block storage, the inclusion of the Daedalus wallet for Linux, the Cardano testnet, and an increase of Rust tools and other features within the coin’s ecosystem.

With the introduction of #Shelley, #ADA bears watching – decentralization of the network and stake pools may take ADA to the next level. #Cardano
— Weiss Ratings (@WeissRatings) March 25, 2019

Further, the Shelley update, which is yet to hit Cardano is much-awaited and a lot of users and ADA enthusiasts believe that it will help Cardano become more decentralized.
The post Cardano [ADA] price set to bounce off resistance and head downwards; Here are the important levels to look out for appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price (BTC) Undervalued By Nearly $34K According to Infamous Dickline

Bitcoin’s recent bullish rally has helped the leading crypto asset return to mean after $6K support was penetrated by bears. Given its potential, it’s clear to see that Bitcoin is currently undervalued by most analyst’s standards. Bitcoin price predictions place the number one crypto by market cap in the hundreds of thousands, with some estimates reaching a staggering $1 million USD.
Such an estimate was made my the eccentric cyber security expert turned crypto influencer John McAfee, who offered to eat his own “dick on national television” if his prediction didn’t come true by the end of the year 2020. Since that bold claim was made, the crypto community has been watching Bitcoin price closely, tracking it in accordance with the McAfee “dickline.”  According to the infamous “dickline,” Bitcoin is currently nearly $34K undervalued.
Bitcoin Falling Short of Dickline Trajectory to McAfee’s $1M Prediction
Back in July of 2017 before Bitcoin price truly went parabolic, founder of anti-virus pioneer McAfee Labs, John McAfee, made a claim that it would reach $500,000 per BTC “within three years.” He later revised his estimate based on a new prediction model due to how quickly the cryptocurrency’s value skyrocketed, and changed it to $1 million by the end of 2020. He also reiterated his commitment to his wager.

When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong.
— John McAfee (@officialmcafee) November 29, 2017

Following McAfee’s tweet, the crypto community became so enamored with the wild yet confident prediction that a website was developed called that was dedicated to tracking Bitcoin’s progress along a plotted 0.484095526% per day growth trajectory that would match up with McAfee’s end goal for BTC.
Related Reading | Bitcoin Bottom Doesn’t Matter, Last Time General Population Can Afford Entire BTC
The infamous “dickline” had been mostly forgotten about as McAfee distracted the world with his antics, which includes a Presidential run in 2020, a crypto-backed fiat currency that adorns his likeness, and his going into exile to avoid paying taxes to the IRS.
However, outspoken cypherpunk and creator of Jameson Lopp didn’t forget, and recently called attention to how Bitcoin is grossly undervalued according to the “dickline” trajectory.

Bitcoin is now undervalued by an order of magnitude according to
— Jameson Lopp (@lopp) February 22, 2019

According to the site, Bitcoin price is currently 89.51% below where the leading crypto’s value would need to be to reach $1 million by the end of 2020. For Bitcoin to reach such a milestone, it should currently be valued at $37,797 according to the site. The number one crypto by market cap is currently trading at around $3,930 – suggesting that BTC is undervalued by nearly $34K.
Related Reading | John McAfee Interview: ‘Bitcoin Will Become The Gold Standard’
While many believe that Bitcoin will indeed reach incredible value if its potential is ever fully realized, a $1 million per BTC prediction may be unreachable as it would put its market cap somewhere around $21 trillion dollars. If it doesn’t reach the lofty goal set by McAfee, crypto enthusiasts will be disappointed Bitcoin didn’t reach it, but they’ll surely be tuning in to watch McAfee stay true to his word on national television.
Featured Image from Shutterstock
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Source: New

XRP price prediction 2019: To the moon or to the depths of the abyss?

XRP seems to be doing well for itself ever since it overtook Ethereum [ETH] to become the second-largest cryptocurrency in the world [by market cap].
Ripple, on the other hand, has also performed splendidly, considering its partnerships with a plethora of banks and FIs around the world. Ripple wants to build an ecosystem on the RippleNet for remittance and cross-border payments, and it plans on doing the same by leveraging the cryptocurrency XRP.
In the long-term, Ripple will emerge as a winner and along with it will rise XRP, considering the developments going on Japan’s SBI Group and SBI Holdings, which are planning to disrupt and reshape the whole of Japan’s payments industry with XRP as a tool to accomplish it.
The road so far:
The year 2017 was the year of the bulls which projected the prices of every cryptocurrency in the ecosystem to plummet to unfathomable heights. XRP attained a price of $3.349 per token and the market cap at this point reached $145 billion on January 04, 2018, right after Bitcoin hit its peak on December 17, 2017.
Most analysts in the market expected Bitcoin and every other cryptocurrency to pump higher. While some people in the XRP community believed that the price will shoot up from here to $10, others were mesmerized by BearableGuy123, Ripple and XRP’s very own jester, who put out riddles, and people interpreted the price of XRP to reach an appalling $589 by the end of 2018.
Most of the people in the community thought that it would be possible due to Ripple’s payment solution xRapid, which leverages XRP as a bridge currency to perform cross-border payments.
Brad Garlinghose, the CEO of Ripple, said in one of his interviews:
“I’ve publicly stated that by the end of this year I have confidence that major banks will use xRapid as a liquidity tool, this calendar year. By the end of next year I would certainly hope we would see in the order of magnitude of dozens.”
This statement of Brad Garlinghouse made people believe in the jester.
Another reason why people expected the price to reach $589 or “$5.89” was due to Ripple’s plan to launch “Cobalt” which, according to the Ripple, would drastically decrease the already fast transaction time.
People in the community speculated that since Cobalt’s mass number is 58.9, the price could inadvertently reach $589 or $58.9 or $5.89 by the end of the year.
As the year 2018 came to an end, some people admitted that it wouldn’t happen, while others still believed that $589 is attainable.
There were some massive improvements and updates that the company Ripple had provided, like the signing up of 200+ banks. More than five banks across the world have started using the xRapid payment solution now. MercuryFX successfully transferred money across the border using xRapid recently.
Apart from the above, R3’s Corda Network was turned on, which will use XRP as a settlement currency. R3 announced that it had crossed more than 280+ partnerships, which included a couple of central banks.
SBI Holdings, a consortium of banks across Japan, announced a partnership with R3 and set-up a joint venture to improve Japan’s payment industry.
What to expect?
The XRP community speculates that the partnership between SBI Holdings, R3, and Ripple puts XRP smack in the middle of  SBI CEO’s [Yoshitaka Kitao] plans to launch XRP across Japan in efforts to reshape and restructure their payment system before the Osaka Expo 2025.
Daily Chart
The chart below shows the year 2018 so far and how the cryptocurrency XRP has performed over the year 2018. A strong downtrend can be seen hanging over the XRP daily price chart that extends from January of 2018 till date.

The one-day chart shows the formation of two distinct falling wedges for XRP as seen in the chart above. Falling wedges are usually trend reversal patterns that indicate a breakout depending on where there are formed.
The first wedge spanned 256 days and the breakout that occurred pushed the prices by 192% i.e., the prices shot up from $0.26 to $0.76. The second wedge has so far ranged for 141 days and a breakout might happen at any moment. There is, however, a possibility of prices moving sideways for a couple more days.
If the breakout happens, it could drastically increase the price of XRP to two possible levels, the first $0.5798, and the other level, a bit higher than before, $0.7971, which is the highest point of the wedge.
Weekly Chart
The longer time-frame for XRP shows a very different scenario as the prices are forming a descending triangle pattern, and as per the definition, it is a bearish signal.

The volume for the weekly chart also shows a declining trend, further substantiating the descending triangle pattern. The prices might dip in the upcoming days as the price might dip a little lower, possibly to the $0.18 to $0.14 range.
This range could be the capitulation range and there is a probability that the bull run might begin after the weak hands get out of the market.
Market Sentiment
The Ripple and XRP community is particularly fond of XRP and are expecting the prices to the moon due to the success of xRapid. As per recent unfoldings, many banks have started using xRapid.
Moreover, SBI Holdings has partnered with Ripple and R3 and is on a plan to disrupt the Japanese payment industry and simultaneously reshape the payments infrastructure. SBI plans to leverage XRP to make it happen and the CEO of SBI, Yoshitaka Kitao has very ambitious plans to make that happen by 2025.
Considering all the above facts, it can be said that the price of XRP could very well disregard the Technical Analysis and shoot up higher, breaking all the resistance points and maybe even crossing the previous highs at $3.65 when xRapid goes into full effect, or when FIs and Corporate players start using Corda.
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Source: AMB Crypto

Cardano [ADA] to Surge 54% by Feb End and Bitcoin, Litecoin, Ethereum, & XRP Price Prediction

Crypto market is currently in a prolonged bear market and “The big question on everyone’s lips is: What will these coins be worth in the future?”
Cardano to be the Game Stealer
According to Finder’s this monthly analysis of cryptocurrencies’ price predictions, 10 panelists predicted the price movement of 13 coins including the top ten cryptocurrencies by market cap and three top trending coins.
By this month-end, Cardano is expected to have the biggest surge of 54 percent to $0.06. “More positive comments coming from this corner, though it’s more of a good from my vantage point. It’s come down a bunch,” said Joe Raczynski, Futurist and technologist at
The highest price prediction for Cardano by this month end is $0.14 while $0.04 is the lowest number.  This coin is also expected to experience a healthy 260 percent increase by the end of 2019.
Just recently, Cardano Community announced that Cardano roadmap will be changing that will showcase Cardano 2020 vision after the IOHK Summit, to be held on April 17-18.  
What about other coins?
Bitcoin (BTC)
Bitcoin is expected to stay around $3,500 over the next month while could end this year at $6,549. “There is some volatility in the short run that will probably see the value stay roughly where it is,” said Co-Pierre Georg from the University of Cape Town. While Joe Raczynski says, “Bitcoin continues to drift around the $3K range. As it stays here, its stability will at some point foster positive gains as development continues.”
Ethereum (ETH)
“Ethereum, without the proof of stake, will have it hard for at least a year. After the Constantinople hard fork, which might take place in February, it can have an unpredictable price too,” shares Ajay Kumar Shrestha, from the University of Saskatchewan. A lot of faith has been put into the upcoming Constantinople like Brendan Markey-Towler of RMIT Blockchain Innovation Hub, that could mean “steady gains in its value, reflecting its increasing technological scope.” Ethereum is predicted to be around $115 over the next month.
Litecoin (LTC)
A short-term price decrease is expected in Litecoin price at $28.79 as “LTC and all other cryptos are directly proportional to bitcoin’s price.” As a silver to Bitcoin’s gold, it is expected of Litecoin to echo BTC’s movement, however, Litecoin Foundation has been lately working on adding privacy and confidential transactions feature and Mimblewimble implementation.
For XRP, Joe Raczynski and Alisa Gus think the recent downturn could be followed by long-term certainty. However, Raczynski notes that “If it gets some legs under it, it could easily bounce, or simply continue its beleaguered ways.” The average price prediction of XRP for March 1 is $0.32 and $0.44 by year-end.
The post Cardano [ADA] to Surge 54% by Feb End and Bitcoin, Litecoin, Ethereum, & XRP Price Prediction appeared first on Coingape.
Source: CoinGape

Will Bitcoin Dump to $1,250? Wall Street Bankers Think So

Another day, another price prediction. They are coming thick and fast at the moment as analysts and industry observers scramble to predict where the bottom will be. Some are more optimistic than others, but it is to be expected that JP Morgan is firmly on the pessimistic side of the fence.
JP Morgan Predicts More Pain
Yesterday we took a look at fractal patterns to predict a bottom of around $2,500 for Bitcoin which is quite plausible given the current market lethargy. That low is only a thousand dollars away from today’s price and would involve another 30% dump similar to the one in mid-November.
According to Reuters however JP Morgan, never a proponent of Bitcoin or cryptocurrency, has predicted a bottom of $1,250 if the bear market persists. The Wall Street banking behemoth added that blockchain technology has been widely hyped and will not make any difference to banking for the next three to five years.
JP Morgan has been among the large financial institutions that are very skeptical of Bitcoin and its brethren. This really comes as no surprise as their business model involves making a lot of money out of other people’s money, and decentralized peer to peer currency is a huge threat to that.
Analysts from the bank added that crypto assets would only gain traction when all faith in traditional assets such as the dollar, gold and the global payments system has been lost. If recent reports are anything to go by, Trump’s government shutdown and war on trade could accelerate that loss of faith in the greenback.
In a report on crypto and blockchain it said “Even in extreme scenarios such as a recession or financial crises, there are more liquid and less-complicated instruments for transacting, investing and hedging,” adding that institutional participation in crypto markets has slipped over the past few months. What it failed to acknowledge is the queue of major institutions waiting to get their crypto products on the table getting stymied by the US government blackout.
The report continued stating that it was unable to pinpoint any major retailers that accepted cryptocurrencies in 2018 and that its intended purpose remains ‘challenged’. It seems that JP Morgan does not consider Overstock, Newegg and Microsoft ‘major enough’ then.
The $1,250 BTC prediction is a bold one but with no real analytics or technical indicators to back it up, the report can just be considered as further FUD from Wall Street’s banking monopolies. That said, a number of analysts have used indicators to make their predictions and most are of the opinion that Bitcoin has further to fall before it recovers.
Image from Shutterstock
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Source: New

Bitcoin Price 2019: Industry Insiders Predict BTC’s Future

If you ignore all the fundamental and infrastructure developments of 2018 and focus on price alone, 2018 looks like one of the worst for the number one digital asset. The Bitcoin price began the year at close to $14,000, having just started to crash from its recently set all-time high.
Fast forward twelve months and what many dismissed as nothing but a blip on the way to the proverbial “moon” has revealed itself to be a fully fledged bear market. Now, sitting at around $4,000 and at the curtain call of the shocker that was 2018, many connected to the Bitcoin space are starting to look forward to what 2019 in store.
Bitcoin Price: The Bearish Case
We’ll start with what is certainly the most pessimistic and bitter Bitcoin price prediction – that of Bitcoin Cash Satoshi’s Vision supporter, Calvin Ayre. The gambling 57-year-old iGaming entrepreneur, who often Tweets pictures of himself with girls that look young enough to be his granddaughters, is so passionate about the particular flavour of Bitcoin Cash championed by himself and Craig Wright that he believes it will usurp all Bitcoin’s market capitalisation, resulting in a Bitcoin price of $0.
The billionaire spoke to the UK’s Express newspaper earlier this week:
“I’m afraid I am predicting it to go to zero value as it has no utility, it does not do anything and they intentionally are anti-scaling… Bitcoin, the technology and economic model, are alive and well with Bitcoin SV (Satoshi Vision) and is going to have an amazing year.”
Whilst there are many folk who share the same opinion as Ayre on where the Bitcoin price is heading, few naysayers have been bold enough to set a date. Back in June of this year, perhaps crypto’s biggest pessimist Nouriel “Dr. Doom” Roubini stated:
“Blockchain is the most over-hyped — and least useful — technology in human history… No asset class in human history has ever experienced such a rapid boom and total utter bust and implosion.”
In terms of a price call, Roubini claims that “in due time” Bitcoin will be worth “close to zero”.
Bitcoin Price: The Bullish Case
Of course, not everyone is as pessimistic as Roubini and Ayre about the prospects of BTC going forward. There have been many recent examples of industry insiders making bullish price calls too. These have largely come from familiar names.
First is Mike Novogratz. The Galaxy Digital CEO and founder has made many previous price calls with varying degrees of accuracy. His latest states that the Bitcoin price will see its all-time high once again before the end of 2019.
Similarly, the Chief Creative Officer of BitPay, Sonny Singh, believes that Bitcoin should reclaim its former $20,000 price tag before the end of the year.
Even more bullish than Novogratz and Singh are Fundstrat executives Tom Lee and Sam Doctor. According to a report in the UK’s Express newspaper, the two have stated that a Bitcoin price of $36,000 during 2019 is realistic to expect.
Presumably, this will require institutional capital inflows, which are rapidly being made more feasible by various trading desks launched by massive names in the global finance industry, as well as crypto custodial solutions tailored towards the planet’s wealthiest money managers.
Finally, offering a much more measured response is David Thomas. The director and co-founder of digital asset brokerage GlobalBlock stated that institutions remain hesitant about taking up positions in crypto.
In making his own prediction, Thomas draws on previous price performances during similar market crashes in Bitcoin. He states:
“If we look at previous trends it takes on average around 67 weeks for bitcoin to recover and proceed to new all-time highs… If you follow this logic, then bitcoin would be heading towards US $20,000 in the second quarter of 2019.”
Before you get too excited though, Thomas does not believe this will be the case the case this time. For the GlobalBlock founder, we still have a “bruised investor base after this year”. He therefore reined in his 2019 price call:
“With positive news, ETFs and regulation, we believe bitcoin will recover to the US $8000 to $10000 levels during 2019 which given where it is today would on balance be a decent year.”
Recommended Reading: John McAfee Ups His 2020 Prediction to $1,000,000/BTC
Featured Image from Shutterstock.
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Source: New

Tom Lee Declines to Update Year-End Bitcoin Price Forecast

Outspoken Bitcoin bull Tom Lee is one of the cryptocurrency’s biggest cheerleaders, and has made a number of lofty price predictions that have unfortunately fallen short.
With the price of Bitcoin hitting new one-year lows after the break of critical support at $6,000, Lee is now saying that Bitcoin is currently extremely undervalued, by as much as $10,000. He’s also uncharacteristically declining to make any future predictions on the cryptocurrency’s price.
Tom Lee Tight-Lipped on Future Price Predictions
While speaking to Bloomberg, Fundstrat Global Advisors’ head of research, Thomas Lee, refused to offer an amended year-end forecast for Bitcoin, saying he was “tired of people asking us [Fundstrat] about target prices.” Lee has made some bold predictions in the past, making a call back in May claiming that the cryptocurrency would reach $25,000 by the end of the year.
Related Reading | The Future is Brighter Than Ever for Crypto, Says Roger Ver
Not only did Lee’s lofty prediction not come true, he missed his target by over 85% unless Bitcoin makes a sudden, sharp recovery. Given the current market sentiment, reaching Lee’s year-end target would seemingly be impossible, which may explain Lee’s reluctance to make another prediction. Lee later lowered that prediction to a more modest $15,000, but even that target is a far way off.
Without making another specific prediction, Lee did point to Bitcoin’s price being fairly valued at $150,000 per BTC if the amount of wallet addresses can reach 315 million, which would be 7% that of VISA’s 4.5 billion accounts.
Tom Lee: Bitcoin Fair Value is Between $13,800 and $14,800
According to Lee, Bitcoin’s fair value is between $13,800 and $14,800 – making the leading cryptocurrency by market cap undervalued by more than $10,000. Lee based his fair value figure on the number of active wallet addresses, the amount of transactions across each account, and the overall supply.
“Fair value is significantly higher than the current price of Bitcoin,” Lee explained.
Bitcoin recently breached a repeatedly-tested price floor at $6,000 sending the market into a state of panic, and the price plummeting over another 40% to a one-year low of $3,250. Bitcoin is currently trading at around $3,400, making the original cryptocurrency undervalued by $10,400 on the low end, and $11,400 on the high end, according to Lee’s valuation.
Related Reading | Tom Lee: Bitcoin is the Best House in a Tough Neighborhood
As for why Bitcoin is so undervalued, Lee claims that it’s a combination of factors. This includes the mounting fears surrounding a potential global economic collapse and the corresponding de-risking by investors, initial coin offering treasuries selling off assets to fund operations, and the normal market cycling following the break of a parabolic advance.
Lee neglected to mention another factor that the cryptocurrency community finger points as the reason for the current downward spiral: the ongoing war between two opposing Bitcoin Cash camps. Regardless of the exact reasoning, enough factors have piled up to send the market into a state of fear, and as a result, the entire cryptocurrency market has been bleeding out – with no end in sight.
Featured image from Shutterstock
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Source: New

Tim Draper: Cryptocurrencies Will Consume Half the Fiat Currency Market

Bitcoin is having a rough time lately, having been lost more than 80% of its total market cap this year. But the decline has not discouraged Tim Draper from putting his confidence in the crypto technology.
The renowned venture capital investor predicted that half of the fiat money holders would eventually shift to cryptocurrencies in the future. Speaking on the sidelines of the World Crypto Con conference in Las Vegas, Draper said that bitcoin will lead the new currency market which would enable people to easily spend, invest or do whatever they want with cryptocurrencies.
The cryptocurrency market currently amounts to circa $130 billion while the fiat one is worth about $86 trillion. Bitcoin and similar assets, according to Draper, are cheaper to operate and are more frictionless than fiat, which would allow at least $43 trillion worth of investment move into the crypto space.
“I mean, just by that alone, just that they cost you less, it’s going to be better for people,” he added. “And so they’re going to move to crypto, and they’re going to go away from the political currency—they call it fiat.”
Hype vs Use Case
Technologists have praised Bitcoin for bringing a new and innovative transaction settlement protocol to the financial market. The digital currency, nevertheless, has also faced criticism for being unstable and for its slow transaction time. Over recent years, a majority of traders purchased Bitcoin during its speculative bull run, which saw price hitting an all-time high at over $19,000. But as the hype cycle ended, the bitcoin market posted a massive yearly decline, which is still in play and has brought the value to as low as $3,400.
Nouriel Roubini, a renowned American economist, called Bitcoin “a mother of all scams,” stating that its value would eventually crash down to nothing. Warren Buffet, a Nobel-winning economist, also called bitcoin “an asset that creates nothing.”
But for Draper, the decline only reflects a near-term shock and Bitcoin would eventually be an answer to all the problems a fiat-based economy possess. The crypto bull said that developing countries would find digital currencies more attractive than countries with their high GDPs tied to fiat money.
“That’s the way it’s going to move,” he explained. “And so the countries that are forward thinking are saying, this is the way it’s going to be. So we’re going to make a huge mistake by trying to cling to our old currency. And that’s why you’re seeing the smaller countries all say, ‘yeah, we want bitcoin, we want initial coin offerings (ICOs) here, we want blockchain. We want all of these things in our country.’”
$250,000 in 2022
Draper reaffirmed his stance that Bitcoin value will rise as much as $250,000 by 2022. People, according to him, would be least likely to tie their investments with assets whose price actions are driven by political forces. “I would much rather have a global currency than one that is sort of tied to a political force,” Draper added.
The venture capitalist is believed to hold more than 30,000 Bitcoins in his investment portfolio.
Image from Shutterstock
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Source: New

Are We There Yet? When Will Crypto Markets and Bitcoin Hit The Bottom

When things go south in crypto land it happens fast, a digital avalanche sweeping away everything that stands in its path and blasting most of digital coins into oblivion.
This weekend’s exodus has been a third wave of selling which has resulted in the loss of over $90 billion from crypto markets this month alone. In a fortnight the market has shrunk by 43% in what has been the largest loss this year.

Since Bitcoin still dominates proceedings and performance for the rest of the market it should be BTC that we look to when searching for a bottom. It was widely predicted that Bitcoin would find a plateau at around $6,000 which it did for a couple of months. External influences such as the SEC or ICOs, or even the Bitcoin Cash fork, have been blamed for it dropping below that level but this is unlikely to be the case.
As we have seen, $6k was not the bottom, not even close to it. The next level predicted was $4,500 but Bitcoin plunged through this support level yesterday as it dropped below $4k for the first time since September 2017.

The next level is $3,000 and this one is key if longer term charts and trends are to be observed. Taking previous price swings into consideration, market analyst Murad Mahmudov predicted things will fall even further if Bitcoin is to replicate previous patterns before it recovers.

5/ low 3000s not outside the realm of possibility if the Descending Triangle pattern plays out fully
— Murad Mahmudov (@MustStopMurad) November 15, 2018

A fall to around $3,000 will leave the entire crypto market with a capitalization below $100 billion and the rest of the altcoins in severe pain. Once this level is reached things are likely to stay there for several months before any sign of recovery so hold on to your seats because things will probably get worse before they improve.
Others predict an even lower bottom with Bitcoin back at $1,000. Either way, Bitcoin and crypto has fallen this fast and this heavy before, in several instances over the past decade BTC has lost over 80% in less than a year. It has recovered before and will do so again, the fundamentals for this technology are still extremely strong.
The bear market this year has simply weeded out all of those that got into crypto to make a quick buck, usually with little understanding of what they were investing in. Things will find their equilibrium and eventually the trends for the market will start to reverse. Those in for the long haul will be adding value, building, and working on wider scale adoption of cryptocurrencies which is the only thing that will sustain their development and secure their place as part of our technological future.
Image from Shutterstock
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Source: New

BitMEX CEO Accurately Called $5,000 Bitcoin in August, Is $2,000 Next?

Bitcoin has set a new low for 2018, and is now inching closer and closer to BitMEX CEO Arthur Hayes’ prediction that Bitcoin will reach $5,000.
BitMEX CEO Called for Bitcoin to Test $5K Support, Nails Prediction
Outspoken CEO and co-founder of popular margin-trading platform BitMEX has made a number of predictions about Bitcoin’s price since the leading cryptocurrency by market cap reached its all-time high of $20,000 last December.
One of his most recent predictions, calling for Bitcoin to hit $5,000, is about to become a reality.
While many cryptocurrency analysts had been calling for a bottom, Bitcoin finally fell through its seemingly unbreakable and repeatedly tested support at $6,000, quickly plummeting to $5,500 yesterday, and hitting a low of $5,250 earlier this morning – a mere $250 away from Hayes’ prediction.
Hayes started the year with a far more positive outlook on Bitcoin, suggesting that the volatile asset could reach $50,000 by the end of 2018.
Considering Bitcoin’s parabolic rise from $5,000 to $20,000 in around a month’s time, exuberant predictions were the norm and at the time seemed very possible. However, as the bear market took its toll on investors scorn by continuously falling prices, Hayes adjusted his predictions. Others, such as Tim Draper or cybersecurity firm founder John McAfee are calling for as much as $250,000 and even $1 million per Bitcoin.
McAfee was so confident in the prediction he offered to “eat” his genitalia if the lofty prediction didn’t come true.
Back in August, the BitMEX CEO, while speaking on CNBC’s Fast Money, told host Melissa Lee that cryptocurrency investors haven’t “seen the worst” yet and that he would “like to see” Bitcoin “test 5,000 to really see if we put a bottom in.”
Hayes made the comments after Bitcoin briefly touched below $6,000 in late June, and began to rally before being stopped at roughly $8,250. Hayes had suggested at the time that if the rally had passed $10,000, his prediction of $50,000 was still feasible, but if the rally couldn’t break the psychological resistance at $10,000, then a test of $5,000 would be in the cards. He was right.
Related Reading: Bitcoin Break to $5,600 is Good For Crypto, Says Major Investor
Is Arthur Hayes’ New Prediction the Next Stop for Bitcoin?
Hayes isn’t done with his goal of accurately predicting the bottom in Bitcoin, and is now calling $2,000 to $3,000 his “new sweet spot.” He also thinks that the ongoing bear market, which is already nearing a year in length, could last another year to 18-months.
Hayes has based his assessments on Bitcoin’s price and its relation to the 200-day moving average. Having “lived through the 2014-2015 bear market,” Hayes has also been waiting for a “nasty #@$ candle that breaks the soul of the bulls” – a candle which most bulls are hoping occurred yesterday, and isn’t looming on the horizon.
Market bottoms are usually identified by a V-shaped capitulation event, which many have claimed has yet to happen in what appeared to be Bitcoin’s bottom at the time.
If yesterday’s drop wasn’t the capitulation event, then Bitcoin may be following Hayes’ new prediction of $2,000 to $3,000. If it was, $50,000 could be next after the bulls regain control.
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Source: New