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Monday, 18 June 07:42 (GMT -05:00)



Foreign exchange market

Bitcoin to Grow by 30% More in 12 Months, Experts Predict


By mid 2018, Bitcoin is may reach $6000 per 1BTC. This is what Tom Lee, who is the founder of Fundstat, thinks on the matter. According to the respected analyst, the chances of Bitcoin reaching this $6K threshold is pretty high right now. Yet, he assumes that this will not be the limit and the world’s first cryptocurrency will break about the $6K threshold some time later.

 

 

 

 
While other experts question his prediction, Mr. Lee assumes that this will become possible thanks to a number of factors. First of all, it’s about the speed of at which information is spreading over the Internet these days. Over time, more and more Internet users will be convinced that Bitcoin is a really good alternative when it comes to savings or payment means.
 
Going Bullish
 
The analyst thinks that by 2022, the cost of the “digital gold” (as he names it) may reach as much as $25 000 per 1BTC! Wow, that’s a brave prediction! It’s interesting to note that his prediction about the future of Bitcoin is not the most optimistic one out there. According to Dennis Porto, a Harvard academician and a Bitcoin investor, expects 1BTC to cost as much as $100 000 somewhere around the year of 2021. He back his prediction by the supposition that Bitcoin’s trend is subject to Moore’s law. To be more specific, the scientist explains that ever since Bitcoin came into existence, it has been doubling up in value every 8 months or so. Being subject to Moore’s law is seen by the scientist as the key reason why the trend is going up exponentially.
 

 

For those of you who don’t know, initially Moore’s law relates to the amount of transistors in the system. While being interviewed by Business Insider, Mr. Porto explained that this law could be applied to any digital technology. So, his calculations predict how trend is going to develop over the next few years.

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According to his calculations, if the same market tendency persists over the next few years, by February 2021 the price will already have reached $100K. Mr. Porto assumes that the very fact of Bitcoin being subject to Moore’s law has created exceptional investment opportunities for everyone willing to invest their money profitably.
 
By the way, Tomas Lee assumes that more and more institutional investors from all over the world are getting increasingly interested in Bitcoin, which is another major reason why Bitcoin is likely to go up in value over time. On top of that, digital currencies are being introduced to the conventional finance world.
 
Take New York-based firm LedgerX as an example. The company is already offering their clients an exclusive opportunity – the opportunity to trade Bitcoin derivatives.
The founder of Fundstrat is convinced that central banks all over the world will have to change their minds about digital currency when Bitcoin’s market cap reaches $500 billion somewhere in the near future. This is backed by Metcalfe’s law, which reads that “the value of a telecommunications network is proportional to the square of the number of connected users of the system”. He expects the number of Bitcoin users to grow by 50% by 2018.
 
Still, the analyst recommends that traders should be cautious when making short-term trades. The thing is that Bitcoin is currently overbought, which may cause volatility hikes further down the road.
 
Optimal Price to Buy Bitcoin
 

 

According to CNBC analysts, the most optimal price to start Loading up on Bitcoins is somewhere around $3600. This is the price recommended for buying Bitcoins since this is the expected bottom for the forthcoming market retracement.

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According to Brian Kelly, who is the host of “Fast Money”, the price of Bitcoin follows the so-called ABC pattern.  According to Coinmarketcap, Bitcoin set the previous high at $4478 and then retraced back to $4000.  The next retracement is going to bring the price down to $3600. Mr. Kelly told the audience that he was still holding the Bitcoin trade and was going to buy some more around $3600.
 
Are Bitcoin Forecasts Reliable?
 
According to Masterforex-V Academy, Bitcoin forecasts are getting more and more diverse. The thing is, it’s getting harder for various experts to predict Bitcoin’s behavior. On the one hand, institutional investors have been joining the market over the last few months, not to mention the confirmation of SegWit. On the other hand, Bitcoin Cash may have a negative impact on Bitcoin, especially as the former has gained more than 75% since being launched.
 

 

Anyway, some of the most respected cryptocurrency analysts are confirming their forecasts and expecting Bitcoin to skyrocket to somewhere from $5000 to $500 000. However, we still recommend you against blindly investing in any asset, especially when it comes to ICOs. Before joining another ICO, think twice and double-check everything to make sure that you know what you are really doing.

 

You are free to discuss this article here:   forum for traders and investors

 

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Today’s Bitcoin Rate Signals Growing Risks in Banking Sector

Yesterday, the BTC exchange rate suddenly started growing, probably as a part of a recovery move against the existing downtrend. According to CoinMarketCap, the current BTC exchange rate is somewhere above 7500 USD/BTC. Over the last 24 hours, the world’s first cryptocurrency has gained some 5%, trying to recover from May’s downtrend (in case you don’t know, the coin has lost 20% since early May before starting to recover yesterday).

Publication date: 31 May 08:33 AM

Bitcoin Goes Down Before Another Rally?

The BTC exchange rate keeps on going down while being driven by a number of factors and circumstances. International experts say that the price of the world’s first and most popular cryptocurrency is currently going down just to gain some momentum later and skyrocket to new highs.

Publication date: 29 May 11:19 AM

Masterforex-V Analysts name Successful ICOs in May 2018

For those of you who don’t know, an Initial Coin Offering (ICO) is all about raising funds. To be more specific, startups sell their underlying crypto tokens in exchange for existing crypto currencies, mostly Bitcoin, Ethereum and other altcoins out there. This resembles an IPO in the stock market where investors buy a newly offered stock.

Publication date: 23 May 12:14 PM

Bitcoin Will Hit $20K, CoinShares Says

Bitcoin is really capable of getting back to the all-time high at $20K per coin. This is what founder of Coinshares Danny Masters thinks on the matter. He is not a rookie in this business. His company has been creating investment products for the cryptocurrency market and conducting blockchain-related research for years. Mr. Masters believes in the future of Bitcoin and altcoins. However, he thinks the market is yet to pass a few development stages. 

Publication date: 20 May 08:38 AM

German Stock Exchange Börse Stuttgart Welcomes Cryptocurrencies

Soon enough, maybe this fall, German stock exchange Börse Stuttgart is going to start working with cryptocurrencies. For that purpose, the exchange is expected to use its branch. Trading cryptocurrencies will be implemented through the Bison app. The expected trading turnover is around 100 billion dollars.

Publication date: 17 May 12:00 PM

Bitcoin Goes Down, Getting Closer to 8000 USD/BTC

Earlier today, the world’s first and most expensive crypto currency was going down while continuing the downtrend seen a day before. According to CoinMarketCap, the BTC exchange rate dropped below 8300USD/BTC, though it recovered a bit later on. Over the last 24 hours, the currency lost more than 5% of its dollar value. 

Publication date: 16 May 11:51 AM

Bitcoin Rallies Despite Criticism from Buffet and Gates

This trading week, Bitcoin is unlikely to conquer another major threshold located at 10000 USD/BTC. The thing is that some Bitcoin investors were cooled down by the statements made by investment guru and billionaire Warren Buffett, founder of Berkshire Hathaway, as well as by Bill Gates, founder of Microsoft and one of the richest people on the planet.

Publication date: 10 May 09:05 AM

Will Bitcoin Rate Exceed $10K This Week?

This week, the BTC exchange rate may well break above 10000 USD/BTC, most of the experts interviewed by PRIME think.

Publication date: 09 May 12:51 PM

Bitcoin Prospects Look Vague Against Altcoins

The situation in the global market of cryptocurrencies has been changing for a while. Bitcoin seems to be gradually losing its status of the world’s biggest and most popular digital currency.

Publication date: 05 May 10:53 AM

Bitcoin Exchange Rate Goes Up Rapidly, Over $9600 Already

Over the last few days, the Bitcoin exchange rate has been going up continuously. On Thursday, the rate conquered two strong levels of resistance at 9300 and 9400 dollars respectively. On Friday morning, the rate changed to 9600 dollars and continued its way up to new local highs.

Publication date: 04 May 02:08 PM