Tag Archives: bitcoin

Bitcoin Will Reach Its All Time High in 2020 tweets Financial Analyst Bob Loukas

Bitcoin Will Reach Its All Time High in 2020, tweets Financial Analyst Bob Loukas

Bitcoin could probably see an all-time high (ATH) by the end of 2020,

tweets financial analyst and trader Bob Loukas. His prediction for assets are generally correct to some degree, for example, his predictions for Bitcoin in 2019 trading around $7K range proved correct, causing some excitement around his 2020 ATH prediction.

The reason for a Bitcoin ATH is the global slowdown in central bank movement which would lead to economic stagnation, a prolonged period of little or no growth in the economy, and high inflation. If a slowdown happens, investors  will invest in stable assets, which is not impacted by inflation, for instance, Bitcoin which still is the ‘ digital gold.’ Such a narrative predicts BTC’s sustained rise. Although there may be periods of decline, in general, the situation with the coin is positive. Moreover, there is a growing trend in Bitcoin adoption, as more consumers are entering the Bitcoin market, increasing demand, and thus price.

The Main Contradictions

There are many who still believe Bitcoin won’t be reaching the ATH. The reasoning for this is, first, Bitcoin’s actual use cases may be much more narrowed than thought before. The cost of small payments becomes too high to justify as transaction fees rise. In addition, there is significant potential for government controls or even outlawing. The urge for stronger controls over financial transactions may force policymakers to severely restrict the use of Bitcoin. New Chinese legislation is a vivid example of such a change Eventually, there is a real possibility is the fear that the demand for Bitcoin will decrease and be replaced with a new token.

Article Produced By
Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He is the founder of Blockmanity. He trades cryptocurrencies and holds some but he prefers holding USDT.

https://blockmanity.com/news/bitcoin/bitcoin-will-reach-its-all-time-high-in-2020-tweets-financial-analyst-bob-loukas/

Thomas ClaimCo.in

Bitcoin BTC Price Prediction and Analysis in January 2020

Bitcoin (BTC) Price Prediction and Analysis in January 2020

Today, we will be taking an in-deep look at the historical prices and market opinions of BTC, so that we can project a Bitcoin price prediction for January 2020.

Bitcoin Overview

Bitcoin is the world’s first crypto, created in 2009 by the anonymous Satoshi Nakamoto. Bitcoin (BTC) is currently the number one coin in the crypto world, with a trading price of $7,589.93 and a market cap of $137,717,427,358. There are currently 18,144,762 BTC in circulation out of a total of 21.000.000 BTC. $21,765,197,319 worth of BTC was the volume traded in the last 24 hours.

Bitcoin Price Prediction: Analysis

Bitcoin started December at $7.571,62, with the price declining throughout December until the price reached a new multi-month low of $6.540,05 on December 18th. Luckily, the following day, BTC recovered to $7,200 and continued to keep itself above this value. On December 23rd, there was a noticeable increase in Bitcoin price, with the coin surpassing the $7,500 resistance level. The price also briefly touched the $7,600 level and the 100 hourly simple moving average.

But the bullish momentum failed to get Bitcoin to $7,680 and $7,700 levels, with two occasions in which the coin attempted to reach the $7,700 resistance. By failing to touch this new resistance level, this led to the formation of a new downtrend below $7,500 support and the $7,400 pivot. There was also a break below the contracting triangle with support near $7,500.The first major resistance is located at $7,480 and $7,500 levels. In order to get back to the main $7,700 resistance area, Bitcoin must break the $7,400 and $7,500 resistance level.

The resistance, pivot, and support levels calculated by WalletInvestor are:

  • Resistance Level (R3): 7886.300
  • Resistance Level (R2): 7769.690
  • Resistance Level (R1): 7562.040
  • Pivot Point: 7445.430
  • Support Level (S1): 7237.780
  • Support Level (S2): 7121.170
  • Support Level (S3): 6913.520

Developments

Bitcoin’s Lightning Network saw a lot of traction in 2019, and it has been predicted that the technology will soon experience rapid development, as it is continuously developed by Blockstream, Lightning Labs, and other development firms. “Taken together, those technologies will make channel and liquidity management much easier. They’ll be automated, fade into the background and user experience will improve drastically,” stated Newberg. There has also been a surge in Lightning Applications (or LApps), which are in some way similar to Ethereum-based DApps. After releasing Lightning Network, developers started launching LApps in order to test Lightning’s use cases. 2019 saw the release of the first Lightning-powered video games, including Satoshi’s Games, a hub for various games that convert in-game points into satoshis. More of such games are set to go live in 2020 officially.

Most LApps are true to Lightning’s core use case of payments, but a few LApps have started venturing into new territories, and that would be messaging. Due to a recent software update, Lightning is now able to support complex messaging, and two projects, Whatsat and Sphinx Chat, are looking to use Lightning for encrypted messaging. Both apps make use of type-length-values (TLVs) in order to attach the message to a Lightning payment. Then, these messages are sent through the network at a small fee. Whatsat is an open-source stack that awaits contribution from the developer community, while Sphinx Chat is in private beta at the moment, with a launch scheduled for 2020.

Bitcoin Price Prediction: Market Opinion for January 2020

Various sites have made their own Bitcoin price prediction for January 2020, so we decided to incorporate some of the most relevant ones to better portray market sentiment.

Longforecast

Longforecast predicted that BTC will be trading at $7,369 at the start of January. The site forecasted that the maximum price would be around $8,587, while the minimum price would be around $6,393. The month’s average price was estimated at around $7,443. The closing price of the month was projected at $7424, change for January 0.7%.

Digitalcoinprice

Digitalcoinprice forecasted that in January 2020, Bitcoin would be trading at $15,761.00, which signifies an increase of 111.5 %.

Tradingbeasts

Tradingbeasts estimated that BTC would be trading at $6,759.832 by the beginning of January 2020. The site forecasted that the maximum price is $8,438.994, while the minimum price is $5,738.516. The Bitcoin price prediction for January’s closing price is $6,751.195.

Coinpredictor

Coinpredictor expects Bitcoin to have a 15.2% increase at the start of January, which would bring BTC to a value of $10,623.29.

WalletInvestor

WalletInvestor made predictions for the next days of January, along with the minimum and maximum values of each day.

  • 2020-01-09: average $7414.640, minimum $7230.950, maximum $7604.050;
  • 2020-01-10: average $7456.950, minimum $7265.690, maximum $7646.190;
  • 2020-01-11: average $7487.160, minimum $7302.320, maximum $7690.830;
  • 2020-01-12: average $7603.890, minimum $7422.200, maximum $7789.830;
  • 2020-01-13: average $7648.740, minimum $7461.340, maximum $7846.780;
  • 2020-01-14: average $7456.330, minimum $7271.970, maximum $7638.430;
  • 2020-01-15: average $7389.670, minimum $7203.270, maximum $7578.600;
  • 2020-01-16: average $7442.850, minimum $7255.520, maximum $7622.180.

Gov.capital

Gov.capital estimated that Bitcoin would be trading at $6,642.176 at the start of January, with a maximum price of $7,306.393 and a minimum price of $5,977.9584.

Cryptorating

Cryptorating estimated that BTC would have a price of $9,180.17 in January, with a change of 23.4%.

Cryptoground

Cryptoground estimated that BTC would be trading at $9,958.7250 in January, with a change of 35.21%.

Bitcoin Price Prediction: Verdict

This has been our Bitcoin price prediction article for January 2020. We hope that the information we provided will be of help to you in your future BTC trading operations.

Article Produced By
Anca F.

Hi, I’m Anca. You might’ve stumbled upon my literary creations while searching for stuff on the internet. I write mostly on topics related to tech, crypto and such (although there was a period in my life when I wrote sarcastic descriptions for bizarre Amazon products). When my ADD kicks in I turn sticky notes into Pikachus or pop bubble wrap.

https://coindoo.com/bitcoin-price-prediction-january/

Thomas ClaimCo.in

Will Bitcoin Price Surge Due to US-Iran Tensions? Details

Will Bitcoin Price Surge Due to US-Iran Tensions? Details!

Bitcoin prices and US-Iran tensions

With the most sensitive trading route in the world (the strait of Hormuz) and an already heated Middle East is driven by the Yemeni war, the Israeli-Palestinian situation, and the Saudi-Iranian conflict, Oil price is already taking its flight. However, there are suggestions that Bitcoin prices could follow this trend as well because traditional markets are already in chaos. Investors will seek a haven for their assets as global chaos ensues.The Iranians already have a love-hate relationship with cryptocurrencies. The use of cryptocurrencies to evade sanctions is already one way that they have considered at the state level. The restriction on Bitcoin trading and mining also indicates a level of state-control over digital assets. This, in turn, takes the global cryptocurrency adoption process to a whole new level.

Already, Bitcoin price is considered to have an uptick this year considering the next Bitcoin halving event which is just six months away. The imminent halving has made miners look for a way to mitigate their risks by lower purchases of mining equipment. An increase in hashing power suggests that the miners are considering the quality of equipment in terms of performance over quantity. This is an important factor to consider as increase in hashing power will lead to parity in mining difficulty this year. This, of course, creates a combustible scenario where Bitcoin prices will explode exponentially while global geopolitics will ensure that new entrants into the Bitcoin market are a definite reality.

Strong Reasons Bitcoin Would Rally Upward

Bitcoin price would likely achieve new support levels. This is because of several reasons. Firstly, Bitcoin dominance is still around its all-time high of 68.2%. Secondly, the key players in Iran’s Oil sector are going to need forms of new cashflows following the recent assassinations. Currently, the pseudonymous nature of the Bitcoin blockchain will ensure that they have access to international markets and we are going to see a shift of the settling of most of the Islamic Republic’s major oil contracts in cryptocurrencies.

The Islamic Republic may at this time also consider lifting restrictions on a limited basis on Bitcoin mining and trading within its borders to shore up its economy. If history is anything to go by, the United States is going to take a harsher stance against Iran. This will escalate beyond a war of words as key allies in the Middle East are also going to have asymmetrical forms of conflict within and outside their borders; something that the Iranians will also realign in line with the new reality on the ground: A decade of conflict is here. The world financial system will go into another “shock and awe” series of moments this year. It is already obvious that another war in the Middle East is imminent and this time the biggest gainers will be the HODLers. So, yes, Bitcoin prices are going to rise this year and it may be higher than we think if the current global situation continues along these lines.

Article Produced By
Christopher Hamman

https://newslogical.com/real-reasons-bitcoin-price-will-surge-due-to-us-iran-tensions/

Thomas ClaimCo.in

Bitcoin BTC Fees Grow with Usage Still Outpaced by Block Reward

Bitcoin (BTC) Fees Grow with Usage, Still Outpaced by Block Reward

In the future, BTC transaction fees may become key to miner gains, as block rewards slide.

Bitcoin (BTC) saw significant fluctuations in overall fees,

with heightened activity leading to unexpected, unpredictable gains for miners. Fees are still a small part of the BTC economy, as block rewards of 1,800 coins per day still bring significantly higher gains. However, with the block reward halved in May 2020, it is possible that with time, fees get closer and closer to the overall block reward. But the chief appeal of BTC is more efficient fee structure, which means billions can be sent for

relatively smaller fees.

Transaction fees collected by Bitcoin miners saw some wide swings in 2019, averaging $100,000 a day during quiet periods but spiking to $2,000,000 per day during busy times. The 2019 fee spike was still less than 10% of the highest fee days seen in 2018. 

Fees decrease as SegWit adoption spreads, with more addresses using optimized information storage. But BTC blocks also fill up to capacity, making the fees rise. For now, BTC has no block size limit, with occasional larger blocks. Bitcoin daily transactions remain close to 300,000, with transaction value just under $1 billion’s equivalent, slowing down in the past weeks. But the biggest factor in the BTC economy remains mining. The Bitcoin network hashrate is above 101 EH/s again after a day of climbing. Miners remain dedicated to catching the last of the larger block rewards, while also serving to secure the current relatively high demand for transactions. BTC on-chain activity has shown a strong correlation with price rallies. For now, as prices find another tier of stability, activity has diminished. Flows to and from exchanges

also remain limited.

A look back at peaks in $BTC on-chain fundamentals in 2019. Interesting to see which metrics peak first in the lead up to the 19' price run
 

The past year saw heightened BTC statistics, despite the fact prices were still far from their all-time peak. But coin activity won’t tell the whole story about prices in 2020, as the leading coin will also rely on futures and options markets, where no actual BTC transfers would be needed. BTC traded at $7,358.05, as the coin erased the gains made above $7,400. Activity does not seem to be winding down in the last days of the year, as bearish pressures once again lead to highly active trading.

Article Produced By
Christine Masters

Business writer with a knack for bubbles and market madness. Has tracked it all: the financial crisis of 2008 and the implosion of Lehman Brothers; bank bailouts and peak gold and silver, penny stocks…and now Christine has moved to cryptocurrencies for fresh stories.

https://cryptovest.com/news/can-google-and-apple-destroy-the-dapp-ecosystem/

Thomas ClaimCo.in

Bitcoin Trades with a Considerable Support After Nosediving to 7195

Bitcoin Trades with a Considerable Support After Nosediving to $7,195

Bitcoin, at the press time, was trading at $7,194.57.

After having consolidated around $7,200 for the longest time now and facing rejection at $7,500, BTC has now slid down, giving an intraday dip. The end of the bygone year was quite calm for the BTC holders as compared to the altcoin investors. The altcoin market is seen nosediving, while BTC maintained its trading price range. Even the major altcoins viz., ETH and XRP have marked a plunge after the major crash that happened in the mod of the previous month.

Bitcoin Price Analysis:

Analyzing the 4-hourly movement of BTC/USD on Coinbase, we see that the price trend is gradually forming lower highs as it dips consistently. The 20-day Bollinger Bands laid are also seen widening, which means that the coin will face volatility soon. The intraday move has led the coin slid from consolidating around $7,200 to the current trading price area. It is rightly supported by 9-day and 100-day Moving average. Although, still running below the Bollinger Band Basis and 49-day MA. There have been most downside breakouts as well, wherein the price trend is seen hitting the lower Bollinger Band.The technical indicators laid along with the 4-hourly price movement of Bitcoin against the US Dollar, we see that the MACD of the coin is running below zero but holds a bullish crossover due to moving average support.The RSI of the coin is at 45.29 and exhibits no trading extremities at present.

Article Produced By
Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

https://www.cryptonewsz.com/bitcoin-trades-with-a-considerable-support-after-nosediving-to-7195/55467/

Thomas ClaimCo.in

Latin American Countries Show an Increasing Appetite for Bitcoin

Latin American Countries Show an Increasing Appetite for Bitcoin

The appeal of bitcoin is greater in regions where financial hardship is commonplace. Both Venezuela and Argentina show an increasing demand for BTC as the year draws to a close. 

It is a well-known fact how Latin American countries struggle financially.

Bitcoin Remains Popular in Latin America

Those problems are more apparent in Venezuela and Argentina compared to other regions. After years of increasing inflation, local residents are looking for alternatives. While bitcoin is not the most popular option, its trading volume is on the rise. Especially where LocalBitcoins is concerned, current statistics look very impressive. A massive increase in P2P trading volume has been noted in both regions. Venezuela remains well ahead of Argentina in this department. Considering how these spikes took place near Christmas, one has to wonder why this happens now. Both regions have noted a steady increase in LocalBitcoins volume throughout 2019.

Keeping that in mind, these increases in trading volume were only a matter of time. In Argentina, things have gotten very dire from a financial perspective. The same goes for Venezuela, where the domestic Petro cryptocurrency is not gaining any traction whatsoever. It seems likely to assume that more and more users will flock to bitcoin as a result. In turn, that should lead to further increases in weekly P2P trading volume.

Article Produced By
JP buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

https://themerkle.com/latin-american-countries-show-an-increasing-appetite-for-bitcoin/

 

Thomas ClaimCo.in

How to Buy Bitcoin with PayPal Account Best Working Methods

How to Buy Bitcoin with PayPal Account [Best Working Methods]

One of the biggest problems today in Bitcoin is the fact that it can’t be bought very easily.

PayPal has been very unfavourable of Bitcoin in the past 2 years and it’s still a problem to find credible places to buy Bitcoins with your PayPal account. There is a simple reason why PayPal won’t allow this. There are many chargeback cases created by scammers who use PayPal to purchase Bitcoin from you and then they claim that they didn’t receive anything. This way they get to keep their Bitcoins and their money.But first thing first, there are no ways to buy Bitcoin with PayPal directly because Bitcoin transactions are irreversible. However, there are certain indirect ways to work around restrictions using services and marketplaces so that you are able to purchase Bitcoins using PayPal money.In this tutorial, I have highlighted some of the best ways by which you can buy Bitcoins using your PayPal account.

There are exchanges that allow you to buy Bitcoin with your PayPal account. However, you can buy it in a limited fashion because they too want to protect themselves from chargebacks. After you’ve proven your intent and investment, these exchanges eventually lift holds. Of course, they charge a small transaction fee. However, it’s better to pay a fee than having to take risks with wire transfers or cash exchanges.

Here are all the listed sites from where Bitcoins can be bought using PayPal:

  • Localbitcoins (Most popular way, has high fees)
  • Wirexapp (The best way and at the market rate, has medium fees)
  • PaxFul (Only for verified account and high exchange rate)
  • Virwox ( not working anymore)

Buy Bitcoins using PayPal and WirexApp

Wirexapp is one of the best ways for those who are looking to purchase Bitcoins with their PayPal account on a consistent basis. This method would take 1-2 days for the first time. After that it’s all instant. You will be able to use your PayPal funds to Buy Bitcoins if you follow the steps mentioned in this tutorial. Wirexapp  can be used for PayPal accounts within these countries: Botswana*, Bulgaria, Bahamas, Bahrain, Georgia, Gibraltar, Chile, Croatia, Estonia, Liechtenstein, Lithuania, Luxembourg, Latvia, Lesotho, Jordan, Kazakhstan, Indonesia, Italy, Honduras*, Iceland, Moldova, Morocco, Malta, Mauritius, Malaysia, Mozambique*, Slovakia, Slovenia, Senegal*, Serbia, San Marino, Saudi Arabia, Philippines, Romania, Oman, United Arab Emirates and Uruguay.

  • You need a WirexApp account to get started. Click  here to create an account.
  • You get a free virtual visa card when you create and verify your account. (You can also order Physical Visa card, but let’s focus on the fastest method for now).
  • You need to add a small amount ($3) to your virtual visa card from Wirexapp in order to use this method. It’s very important to add the card to your PayPal account.
  • Login to your PayPal account
  • Click on Money
  • Click on Add a card

You will be asked by PayPal to confirm the new card. Click ‘Confirm my card’ and PayPal will begin a series of transactions to verify your card, which is a standard practice by PayPal that they use to verify an account. This is where your balance of $3 will be used (I will talk about this later). You will then be asked to enter a PayPal Code. Now, login to your Wirexapp account. Under transaction you will find the confirmation code to verify your debit card.

Confirm the code. After that, you will see a success message like this.

Click on close. Now you are all set to start buying Bitcoins with your PayPal account. Now all you need to do to buy Bitcoins using your PayPal money is to withdraw money from your PayPal account to linked Wirexapp debit card, which usually takes between 1-7 days. Once your funds are withdrawn to your linked card, you can use Wirexapp interface to Purchase Bitcoins. This is one of the best ways for those who are looking to use their PayPal money for buying Bitcoins at market rate, and all other methods usually cost you extra for Bitcoin purchase. Use Wirexapp to get your first free virtual debit card (VISA powered) (if you are in the countries listed above), and use it to buy Bitcoins using PayPal money.

Use VirWox to Buy Bitcoins wit PayPal

UPDATE: unfortunately, since October 26th, VirWox no longer supports paypal. VirWox is the most popular way of buying Bitcoins using PayPal (at the time of writing this article). There are some things that you should know about VirWox before we get started:

  • VirWox is delaying new user transactions for up to 48 hours, which means that it can take you 2 days to complete this process. However, this is still way faster than using a wire transfer.
  • You can contact VirWox at support@virwox.com if you still don’t receive the Bitcoins after 48 hours (which is very unusual).
  • VirWox is limiting the amount you can deposit initially through PayPal or a credit card due to chargeback risk VirWox is taking on themselves.
  • This process hold within it more transaction fees than usual, which may still be a valid solution since the soaring numbers of BTC compensate for this. Be aware of the different transaction fees.

Just follow the steps mentioned in this tutorial and you will have your Bitcoins with you.

  • Create a free account on VirWox on this link.
  • Click on “Not registered yet?”

    Fill out the registration form on the next page. You don’t have to change the avatar section. (For reference, check screenshot below).Click on the confirmation link in your email to activate your account.

  • Login to VirWox site.
  • Click on Deposit to start adding money using PayPal.

    Scroll down to the PayPal express checkout section on the deposit page and select the amount that you wish to deposit. You can only see the maximum allowed for Euro and US Dollars there.I’m depositing certain amount into my VirWox account in this case. Complete the transaction by clicking on check out with PayPal.

  • You will get the confirmation of your deposit on the next page. Fees are around $4 on $100 you pay.

  • Purchase SLL with Deposited amount:

Under exchange, click on USD/SLL and buy SLL with your deposited amount. I’m purchasing 22,508.42 SLL using $91 in this case.

Purchase BTC with SLL:

So far, you have already bought SLL with your PayPal account. Now, click on BTC/SLL under exchange. Click on next. Confirm your order. It’s important to note that the exchange commission is 50 SLL + 3.90%. Click on place order! Your transaction will be confirmed within few seconds. Here is the success screenshot. Now you can withdraw your Bitcoins into a wallet address. I assume you already have one. However, if you don’t have a wallet address, click here to create a free account on Coinbase and get a Bitcoin wallet address.

How to Withdraw BTC from VirWox to Your Bitcoin Wallet

Click on withdraw under my account. Add your Bitcoin Wallet address on the next page. Note: You will be charged a handling fee of 0.004 BTC per withdrawal. Most Bitcoin withdrawals are processed instantly. However, new accounts are checked manually and they will be processed within 48 hours. When the withdrawal has been processed, you will receive an email confirmation. Considering the exchange rate and the fees, the overall BTC that you will get using PayPal money is minimal. But again, for those who are looking to purchase Bitcoins with their PayPal account, this is one of the most verified and authentic way. There are other ways too by which you can buy Bitcoins using PayPal. However, they are not as risk free as one offered by VirWox.

Other Ways to Purchase Bitcoins Using PayPal

LocalBitcoins

LocalBitcoins is another marketplace where you can buy Bitcoin using PayPal, but you need to be careful while picking the seller. Click on trader name to check his feedback and trade volume, which will give you a good idea of how credible the seller is. I have used LocalBitcoins in the past to buy Bitcoins using cash and it worked fine for me. Again, you need to be very careful and smart when using Localbitcoins to make a purchase.

Paxful

Paxful is another popular way for users who want to buy Bitcoins using PayPal, Gift cards, Skrill, Payoneer to name a few. Paxful is similar to LocalBitcoins, but with cleaner user interface.

The process of purchasing Bitcoins at Paxful is really simple:

  • Create an account
  • Choose a payment method for purchasing
  • Choose  a desired amount
  • Choose your seller – You can either let Paxful decide who is the best seller for you or choose a seller manually.

Once the trade initiates you will be sent in to an online chat with the seller to finalize the deal. The seller’s Bitcoins will be sent into Escrow and they will be released into your account once you mark that you’ve sent your payment. It’s important to note that if the deal isn’t finalized within a certain timeframe (usually 30 minutes), it will be auto-cancelled.

Conclusion

I will keep testing new methods that let us purchase BTC using PayPal, and I’m currently testing LakeBTC for BTC purchase with PayPal. For now, you should try one of these two methods to purchase Bitcoins instantly using your PayPal account.

Article Produced By
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community – both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

https://captainaltcoin.com/buy-bitcoins-using-paypal/

 

Thomas ClaimCo.in

Bitcoin Price Prediction 2020 2025 2030 Future Forecast For BTC Price

Bitcoin Price Prediction 2020 | 2025 | 2030 – Future Forecast For BTC Price

Bitcoin Long-Term Overview

Bitcoin opened 2018 with a high of $13,290 and closed the year at about $3,800. This represents a 72% loss overall. By comparison, the Dow opened the year at $24,824 and close at about $23,300. This represents a 6.2% loss overall for traditional investors. However, 2019 is a different story as bitcoin opened it at $3,700 but climbed up by almost 60% (as of today) and is currently hovering around $5,900. If we are honest, bitcoin is still, for the most part, a favorite toy of experienced and less experienced speculators but number of builders is burgeoning as well. The surrounding ecosystem and infrastructure is being built at blinding pace while brand presence and recognition are hitting all time highs, especially among the younger generation.

The old establishment, comprised of mostly old white men, is still yelling at bitcoin, throwing jabs, insults and calling for a ban (best evidence of their glaring lack of understanding of how bitcoin works). Luckily, biology is on bitcoin’s side – the old ruling class and archaic technologies they cling on are dying off, making room for new ideas and technologies. Bitcoin already owns real estate in the heads of the upcoming decision makers and wealth holders and it is only question of when, not of will, bitcoin enter the mainstream financial world. Let’s take a look at the fundamental forces that will propel bitcoin upwards in 2019. We can divide the fundamentals into two categories: protocol enhancements and ecosystem/infrastructure construction.

Fundamentals

Protocol enhancements

Freelance journalist Ian Edwards wrote an excellent piece on bitcoin protocol improvements that you can read here. Here is the excerpt with most important developments. It is worth noting that prolific bitcoin developer Pieter Wuille unveiled two Bitcoin Improvement Proposals (BIP) on May 6th that offer plans that could prove foundational to a possible upgrade to the cryptocurrency. Wuille’s first BIP describes a “new SegWit version 1 output type, with spending rules based on Taproot, Schnorr signatures, and Merkle branches.” While the second describes “the semantics of the initial scripting system under bip-taproot.” Below are most important protocol developments which are being worked on right now, with no firm deadlines when will they get implemented.

MAST

MAST, short for Merkelized Abstract Syntax Trees, proposes to improve Bitcoin by changing how smart contracts are written to the blockchain. In effect, it allows smart contracts to be split into their individual parts. This has several benefits in terms of privacy, transaction size and allowing for larger smart contracts There is no set timeline for its implementation.

Schnorr signatures

Schnorr signatures, named after their inventor, Claus-Peter Schnorr, are a proposal to replace Bitcoin’s current digital signature algorithm (ECDSA) for a more efficient one. The first way they will improve the bitcoin protocol is that they will allow for the aggregation of multiple transaction signatures into a single signature. This would make transaction sizes smaller in these types of transactions, and could reduce transaction’s use of storage and bandwidth of the Bitcoin network by around 25%.  Second, Schnorr signatures would increase of the privacy of multisig transactions by aggregating signatures in these transactions, thereby masking the original signatures.

Bulletproofs

Bulletproofs promise to improve the privacy of Bitcoin by concealing quantities of transactions, while still leaving the sender’s and reciever’s wallet addresses public. They are already implemented on Monero while Bitcoin implementation is still pending and according to Wuille ” “far too premature to propose for inclusion into Bitcoin.” 

Confidential Transactions

Confidential Transactions (CT) would keep the amounts of Bitcoin transactions visible only to participants in the transaction. 

Sidechain Projects

 

Sidechains are intended to allow other blockchains to connect to the Bitcoin network using a separate coin that is tied to bitcoin. This means that each sidechain is a separate blockchain that can have different rules from the Bitcoin mainnet while still remaining connected to it. There are several different sidechain proposals under development currently: Liquid Network, RSK and Drivechain.

Liquid Network

Liquid is a private sidechain, so there is some control over who can access it. The benefits of Liquid are that it allows instant transactions, privacy (Confidential Transactions are built in) and the ability for users to hold Liquid funds outside of an exchange.

RSK

RSK is a sidechain that plans to bring smart contract functionality and near instant payments to the bitcoin network. Like Liquid, it uses a federated system, with custodians tracking the movement of bitcoin between RSK’s network and Bitcoin’s mainnet. It does this by using a token called SBTC (smart bitcoin), which is pegged to BTC at a 1:1 ratio.

Drivechain

Drivechain plans to allow for multiple blockchains to be linked up to Bitcoin’s mainnet. Like RSK, Drivechain sidechains built can be secured by Bitcoin miners using merged mining. Unlike RSK, Drivechain is flexible, and developers could create sidechains tailored to the specifications they want, such as larger block sizes or privacy features. 

Mimblewimble

Mimblewimble is a proposal for a bitcoin-like blockchain which claims to provide higher security than the current Bitcoin protocol, improved scalability, a different kind of cryptographic security and ASIC-resistant mining algorithm to encourage mining decentralization.

Lightning Network

Of course, there is the highly contentious Lightning Network project, the long awaited layer 2 scaling solution that bears a lot of bitcoiners’ hopes and attracts a lot of disputes and detraction from other camps, mostly from bitcoin forks like BCH and BSV. Lightning Network, has seen significant growth last year. The first Lightning implementation developed by Lightning Labs launched in beta in March 2018. 

In a little over a year since being live on mainnet, there are now nearly 4,300 nodes with active channels and about 38,000 total channels. The steeper node growth in the last three months could potentially be connected to the release of the Casa Lightning Node, which made running a node significantly easier for a regular non-technical user. It’s also worth pointing out that the average number of channels per node has been steadily increasing throughout the last year. Also the capacity of nodes and overall network has been increasing over the last year to the current 1,079 BTC (more than $6m) locked up in nodes and channels.

Ecosystem and Infrastructure

The Big Bitmain Fall

Bitmain, on the other hand, has suffered tremendous losses under the leadership of Jihan Wu and Micree Zhan. They had followed Roger Ver’s technological direction to fork Bitcoin into Bitcoin Cash. In August, 2017 Bitcoin Cash successfully forked from Bitcoin and Bitmain had bet big on this fork and technology adding a huge amount of hash power behind the Bitcoin Cash fork. Bitmain had been planning an IPO as well in early 2018. Bitcoin Cash forked again, the IPO was turned down and together with $400 million in losses, Jihan Wu and Micree Zhan are exiting Bitmain.

Institutional Money Is Coming Into Bitcoin

  • Last year, reports emerged that George Soros and the Rockefeller family were beginning to take positions in the emergent crypto asset class, according to Bloomberg. The family’s $26 billion Soros Fund Management was supposedly considering trading digital assets. The Rockefeller family’s VC arm, Venrock, decided to take a different approach by partnering with Coinfund to assist entrepreneurs in launching blockchain businesses. 
  • In the tail end of April, Charlie Lee, the creator of Litecoin, revealed that he spotted Bitcoin and Litecoin trading pairs appear on his TD Ameritrade Think or Swim portal. While some cast this news aside as a joke or glitch, other users confirmed that they too saw “BTC/USD” appear on their accounts on TD Ameritrade. TD Ameritrade has more than 11 million client accounts with more than $1 trillion in assets. The U.S. broker already offers Bitcoin futures trading.
  • Circle, Coinbase, BitGo, Goldman Sachs, Citigroup, Morgan Stanley, and other major financial institutions have either already launched crypto-focused custodian solutions or plan to offer crypto custody in the short-term begin to serve an increasing number of institutional investors in the months to come.
  • In July, Blackrock — the world’s largest exchange-traded fund (ETF) — announced that it has launched a working group to assess the potential of investing in Bitcoin.
  • Goldman Sachs has been making inroads toward crypto adoption throughout the year. Thus, in April, cryptocurrency trader Justin Schmidt was hired by the firm in response to client interest in the space.
  • The following month, Goldman Sachs executive Rana Yared confirmed that the company intends to buy and sell Bitcoin — after concluding the preeminent cryptocurrency was “not a fraud.”

OTC Markets

According to cryptocurrency research group Diar, institutional cryptocurrency trading on traditional exchanges has been diminishing in volume due to BTC being welcomed into major outfit portfolios this year. There has instead been a shift to OTC trading. During OTC market hours, there has been an increase in BTC trading volume by 20 percent, while Grayscale’s Bitcoin Investment Trust (GBTC) volumes were down 35 percent in 2017 vs. 2018 for the same period. It seems institutional traders might be shifting towards higher liquidity OTC physical BTC markets. 

ETF Attempts

The approval of a Bitcoin exchange traded fund (ETF) has been chased by a number of industry players over the past few years. Several crypto companies, such as Gemini and Bitwise, have filed for crypto ETFs, but so far, regulators have not approved any. However, the U.S. Securities and Exchange Commission might be shifting its position. The agency is now more concerned about curbing fraud on platforms that propose ETFs rather than the ETFs themselves. We believe the SEC could soon approve a crypto ETF.

Universities Dipping Their Toes

In addition to big individual investors and backers, universities like Harvard, Yale and Stanford have all invested in cryptocurrency funds. An undisclosed source has revealed that endowments of the respective universities have invested tens of millions of USD into at least one crypto fund.

Regulations

It’s no secret that one of the impediments to institutional investors entering the crypto space is the need for a suitable regulatory framework; hedge funds can’t simply invest their clients’ funds in the same free-and-easy manner as a retail investor. Regulation is not a crypto killer. Regulation will provide much-needed clarity to investors big and small, as well as the entities issuing the coins themselves. People can start to focus on how these assets can best be leveraged to diversify portfolios, transfer money overseas, and improve business models, instead of looking over their shoulders in fear of running afoul of the SEC. With increased regulation, increased adoption will follow, particularly among those for whom due diligence is paramount. Financial institutions will be able to confidently bring these investment options to their clients, pension funds can incorporate cryptocurrencies into their long-term holdings — the applications are endless.

Famous Backers

Jack Dorsey is the CEO of Twitter and has been showing its support for Bitcoin (BTC) and the Lightning Network . Steve Wozniak is known for co-founding Apple, one of the largest companies in the world. Wozniak said that Bitcoin will become the world’s currency. There is another Bitcoin bull in the market, Peter Thiel. The venture capitalist has already bet on Bitcoin and the possibility for it to become a gold-like safe haven. During a conversation with CNBC, he said that he would be long Bitcoin and neutral of everything else.

Tim Draper, a recognized venture capital investor, has been participating in the crypto market for a very long time. He invested in Bitcoin when it was traded under $1,000 and it has also made very bullish predictions for the future of this digital asset. Ashton Kutcher has been an outspoken advocate for Bitcoin and he invested in a sports betting blockchain, UnikoinGold, along with billionaire, Mark Cuban. Joe Rogan said that he is fascinated by the idea, but haven’t given bitcoin his full attention, but he thinks it could really shake up the global economy.

Price Action and Market Shifts

Quick historic overview

Here is a brief history of highs and lows of bitcoin prices, as compiled by colleagues at U.today:

  1. At the beginning of its journey, Bitcoin was worth less than $1.
  2. The first peak was a mark of $30 in July 2011, followed by a fall to $4.
  3. In mid-2013, Bitcoin broke through the price of $200 but rolled back to $120.
  4. An important point was the end of 2013 when the price raised to $1,100. However, the next 2 years were a solid drop for Bitcoin. The bottom was a mark of $240.
  5. The turn happened at the end of 2015, then the stable growth of the coin began. It lasted until the end of 2017 when the price reached a historic high of $20,000.
  6. The entire 2018 was marked by a tremendous fall. Any analysis and forecast turned out to be wrong. Bitcoin reached the bottom of $3,200.
  7. In 2019, new cycle of growth began, and the price exceeded $5,000 again.

Since the start of 2019, bitcoin is clearly most profitable asset class, as indicated by Binance Research.

Market Prediction For Bitcoin Price:

Everybody and their mother made a bitcoin prediction for this and upcoming years. Not everyone’s opinion should concern us, but some forecasts are more valuable than others so we will pick out the most relevant ones below. Let’s take a look at some of these Bitcoin predictions.John McAfee Bitcoin Price Prediction – $1 million by 2020 John McAfee, the eccentric founder of the popular security software and a controversial Bitcoin follower predicted that Bitcoin will hit $1 million by 2020. He also added his own flair to the whole prediction betting to eat his male parts should he fail to be true. He subsequently relativized his bet and you can read more about it here.

Willy Woo

The founder of Woobull.com predicted a bearish momentum in Bitcoin’s price as we head into Q2 2019. Willy expected the price of Bitcoin to bottom in the months of the second part of the year (sort of happened) before entering an accumulation period for

the rest of the year.

“All our blockchain indicators remain bearish. NVT, NVTS, MVRV, BNM, NVM. They are experimental but have served to make very correct calls to date, even when traditional on-exchange indicators were reading to the contrary.” – Willy Woo

Mike Novogratz

The billionaire made his predictions on the price of Bitcoin late last year stating the coin could reach highs of $10,000 by the end of March (missed on this one) and cross its ATH price of $20,000 by the end of the year. The Galaxy Digital founder believes institutional investment from firms such as Fidelity and Bakkt will be key to the surge in BTC’s price.

Fundstrat’s Sam Doctor and Tom Lee Bitcoin Price Prediction

Tom Lee, co-founder and head of research of Fundstrat, believes that the break-even point of mining 1 BTC directly correlates with the price of the cryptocurrency. Tom Lee stated that the BTC fair value is much higher than the current price. The current fair value is somewhere between $13,800 and $14,800 which he believes might increase and reach $150,000 per coin as soon as bitcoin wallets account for seven percent of 4.5 billion Visa’s holders.

Zhao Dong Bitcoin Price Prediction

Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin might reach $50,000 by 2021. He reiterated that now is the best time to invest in BTC and said that you might get a yield of 100 to 200% over 3 years if you invest now.

Anthony Pompliano Bitcoin Price Prediction

In a recent tweet, Anthony Pompliano, founder of Morgan Creek said that Bitcoin isn’t going anywhere. He stated that BTC might go as low as $3000, after which it will continue being bullish starting from 2019. He enunciated that there is no reason to freak out on the declining price as Bitcoin’s fundamentals are becoming stronger.

Murad Mahmudov

Murad Mahmudov, host of ‘On The Record’, believes that Bitcoin will hit a new all time high sometime in late 2020. Prominent crypto personality and analyst Tone Vays generally agreed in an interview with this statement, adding that there is a 40% chance of seeing a new all time high in 2020. This percentage increases to 45% for 2021.

Wheatley model: $2,352.03

According to a Forbes article, the Wheatley model predicts Bitcoin will be trading at a rather bearish $2,352.03 in 2020. The article explains that the Wheatley model focuses solely on Bitcoin’s demand and also notes that Wheatly and researchers gave a far lower total market cap to bitcoin than the actual cap is ($20 billion is the figure used in their estimation model). Bitcoin’s slow demand growth is why its 2020 price prediction is so low.

Hayes model: $55,931.60

The Hayes model on the other hand predicts a much more bullish trading price for BTC in 2020. This is because that while the Wheatley model focuses on Bitcoin’s demand, the Hayes model focuses on its supply. Bitcoin’s supply is expected to slow as it approaches its supply cap, which should drive up prices.

Conclusion

The current sentiment in the Bitcoin community is positive and technical improvements along with overall ecosystem growth are foretelling a bright future going forward. The technical indicators are signaling an upcoming bullish run and with more people understanding the unique features and advantages of bitcoin over traditional system. While past performance is not a great indicator for future price, the fundamentals underlying Bitcoin may well see it soar in the near future to $20,000 USD crossing its all-time high price.

Article Produced By
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community – both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

https://captainaltcoin.com/bitcoin-btc-price-prediction/

 

Thomas ClaimCo.in

Bitcoin Price Ragebound Around 7000: Last Crypto Weekly Update of 2019

Bitcoin Price Ragebound Around $7,000: Last Crypto Weekly Update of 2019

The last week of 2019 didn’t really bring a lot of excitement within the cryptocurrency market.

Bitcoin’s price remained trapped within a fairly narrow range between $7,100 and $7,700, while altcoins struggled to claim any new grounds. As a matter of fact, Bitcoin’s dominance stabilized well above 68%, which showed that BTC kept its market share intact, despite the lack of any price increases. Despite the fact that Christmas is over, it’s important to monitor the price going forward. It’s likely that Bitcoin will retest the $7,000 once again and it’s crucial to see what happens there. 

On another note, the week was very intense in terms of news regarding state-backed cryptocurrencies. A few countries, amid which Russia and Korea, said that they are testing their own iterations and have expressed positivity towards the notion. With the new year coming ahead, one of the most anticipated events remains the Bitcoin halving. It will slash the block reward in half and a lot of people believe that this will be a cause for a surge in the price. Meltem Demirors, however, thinks that this won’t be the case, mostly because the market is mainly driven by derivatives trading. If history is any indicator, so far, the price has surged after each halving in the year that followed. 

The week was also full of controversy, as the world’s largest content-sharing platform, YouTube, appeared to have flagged cryptocurrency-related videos and even deleting them. Numerous prominent analysts saw their channels getting flagged, which was a cause for very serious concern. Shortly after, YouTube said that this was a mistake, but a lot of the videos remain deleted. This also showcases the importance of decentralization and one of the most critical benefits that it brings – censorship resistance. In any case, there are a few more days left until the end of 2019 and it’s interesting to see if Bitcoin and the entire market will bring a pleasant surprise or if we will kick off the new year in the red. 

Market Data

Bank of Russia Tests Own STablecoin In A Regulatory Sandbox.

As the trend of state-backed cryptocurrencies continues to steam, Russia is another country that considers the opportunity. Its’ central bank has reportedly started testing digital currencies that are backed by real assets in a regulatory sandbox. 

New YouTube Crypto Ban? The Giant Started Removing Cryptocurrency-Related Videos With No Warning.
The world’s largest content-sharing platform, YouTube, appeared to have restricted and deleted cryptocurrency-related videos and channels. Even though the issue seemed to have been a mistake, a lot of influencers were affected and it showed the censorship that centralized platforms are capable of inflicting at will. 

Unpopular Opinion: Bitcoin Halving Might Not Affect Bitcoin Price, According To Meltem Demirors.
While a lot of people are excited about the upcoming Bitcoin halving and the potential impact on BTC’s price, Meltem Demirors has a different view. She thinks that it won’t affect it as much because the market is mainly driven by derivatives, which suggests that the actual transfer of bitcoins and the demand for them isn’t as much. 

$480K Stolen As Hackers Compromise NULS Blockchain Platform.
The NULS Blockchain platform was compromised this week. Hackers managed to breach their security, stealing upwards of $480,000 worth of NULS tokens. They managed to get away with more than 2% of the total amount of tokens in circulation. 

Happy Birthday HODL: The Bitcoin Long-Term HODLing Strategy Celebrates 6 Years.
One of the most widely used words, funnily, a typo, HODL, turned six years old this week. Interestingly enough, it has become one of the most widely used words in the community and also one of the most profitable long-term investment strategies.    

Ripple Seals $200M Investment To Push XRP’s Utility.
Ripple has managed to cap off the year by raising an additional $200M in a Series C investment round. The money will be used for improving the protocol, as well as to push further the utility of XRP. 

Article Produced By
George Georgiev

Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.

https://cryptopotato.com/bitcoin-price-ragebound-around-7000-last-crypto-weekly-update-of-2019/

Thomas ClaimCo.in

Price Not Going Up After Halving: Roger Ver Throws Jab At BTC Gets Floored By A Bitcoin Proponent

Price Not Going Up After Halving: Roger Ver Throws Jab At BTC, Gets Floored By A Bitcoin Proponent

The crypto world is becoming increasingly a free space where anyone can engage anyone else.

The space is ever busy with interactions and debates, whether hot or moderated. That said, it’s not uncommon when a crypto big shot gets to spar and lose to an opposing fan on the crypto streets. Ask Craig Wright what he got from the hodlonaut. A recent tweet by Roger Ver is now making him look a bit dejected after he got a “no-comeback” response from a Bitcoin supporter named “Bitcoin Cobra.” 

“BTC Won’t Go Up”

Apparently, Roger Ver decided to get on twitter and send out a rather hot tweet regarding the future of Bitcoin (BTC). Unabated, he went ahead to suggest that the upcoming Bitcoin halving event is likely to have no positive impact on the crypto price, an opinion that brought out his bearish sentiments towards Bitcoin. He went on to opine that unlike Bitcoin (BTC), Bitcoin Cash (BCH) is set for a great future.For one, Roger Ver is known as a strong supporter of Bitcoin Cash (BCH), a crypto that retained its name after the BCH hard fork of November 2018 that brought about the Bitcoin Satoshi Vision (BSV) crypto supported by the self-declared Satoshi, Craig Wright. Roger Ver’s tweet didn’t go unanswered. 

Repeat After Me,” Usage!” 

From the look of it, one Bitcoin (BTC) supporter didn’t like the fact that Roger chooses to talk more about price rather than Bitcoin’s impact in the business world. In other words, @CobraBitcoin wasn’t impressed that Roger was pegging Bitcoin’s future on price, so the user decided to post a response to volunteer a little information to Roger. 

Article Produced By
Nick James

Nick is a cool guy with lots of love for technology especially cryptocurrencies and blockchain. He likes to share the juicy nitty-gritty about the latest developments in the crypto world. When he's not immersed in his crypto world and creative mindset, you can find him having fun with friends and family. Contact: Nickjames [at] zycrypto.com

https://zycrypto.com/price-not-going-up-after-halving-roger-ver-throws-jab-at-btc-gets-floored-by-a-bitcoin-proponent/

Thomas ClaimCo.in