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Bitcoin (BTC) and other cryptocurrencies have been compared to FAANG (Facebook, Apple, Amazon, Netflix and Google) companies due to their network effects, as reported by Cointelegraph. The rationale that the increase in people using a platform makes its value increase exponentially — as it happens with Facebook or the App Store — is applied to cryptocurrencies at large: The more people that hold a crypto asset, the bigger increase in market value.
In a recent research note for Fundstrat shared with Bloomberg, the analyst wrote that he expects Bitcoin to rise into the $10,000 to $11,000 price range over the coming months, citing BTC’s historical trend of retracing 50% to 62% of long-term market trends. The analyst continued:
The bullish sentiment that has overtaken the Bitcoin and cryptocurrency market continues to gain steam. An increasing amount of market data now points to Bitcoin price breaking the $10k mark, which is territory not seen since September.
One analyst has given the flagship crypto an 80% chance of moving past this mark over the next 2 days:
Fear of missing out, or FOMO, is a kind of social anxiety characterized by the desire to continuously stay connected with what others are doing. For the newbies of crypto markets, this feeling may result in ill-conceived buying. Crypto trader Michael van de Poppe is sure on when the next wave of FOMO may occur.
Mr. van de Poppe predicts that the $10,000 level for Bitcoin (BTC) will result in journalists having to write about Bitcoin. In turn, this may cause a huge FOMO reaction.
Coinbase, a digital currency exchange headquartered in San Francisco, has stated that Bitcoin will become close to digital gold in 93 days.
Also, with the Bitcoin halving occasion around the corner, Coinbase sees it as a critical step towards truly becoming digital gold.
In a series of tweet to publicize an accompanying blog-post published on February 7, it stated the crucial explanations why the halving and successive supply rate reduction will further solidify that link.
A Pre-Halving Bitcoin Price Rally Is Already Underway
A Bitcoin halving occurs every four years. At each halving event, the BTC generation algorithm cuts the block reward by half. As a result, Bitcoin is inflation-resistant — because only 21 million bitcoins will ever be mined. The last coin will be created around the year 2140.
Thus, the implications of Bitcoin’s next halving could be significant. History might repeat itself, or something unexpected might happen.
Some experts estimate that after the upcoming halving, miners will continue to profit, but only if Bitcoin maintains a price range of $12,000 – $15,000. Others claim that a pre-halving BTC rally is already underway with billions of dollars pouring into the crypto market.
Weiss has been in the financial analysis business for only a short time in the crypto sphere but brings almost 50 years of experience in other financial sectors. It offers a paid subscription to a number of crypto investment tools.
The agency offers several crypto index ratings for risk, reward, tech, and adoption. They also offer regular reports on market conditions and sentiment, investment opportunities, alerts, etc. Weiss has faced some criticism in the past, in both their crypto and traditional market assessments.
- No sign of bearish sentiment for Ethereum as the ETH price continues to surge.
- Ethereum rose to $226 after gaining 25% in a week against the US Dollar.
- If ETH faces rejection at the current traded level, the market may correct to near support, which will be healthy.
Without a detailed report on why the respondents picked their choices, we are only left to speculate and analyze the results. Majorly, it is likely that the voters used different criteria to pick their crypto of choice.
Some based on the future scalability of the altcoin by leaning on the more affordable ones with a promising future. This might give a clear insight into why XRP won the fierce “Twitter ring fight”.
Malta-based Binance, one of the world’s leading crypto-exchanges, will soon add new fiat gateways for Norwegian, Russian, and Croatian fiat currencies in the near future. During CEO Changpeng Zhao’s first AMA of 2020, the CEO of the Malta-based crypto-platform revealed that the team is looking to tap into more markets after launching P2P trading of Chinese Yuan, Vietnamese Dong, and Russian Rubles.
While details as to when and which fiat will be enabled have not been disclosed yet, CZ said,
In less than 270 days the United States will have its 2020 election and millions of people worldwide will be betting on whether Donald Trump is reelected. Cryptocurrency participants are currently wagering their digital assets on the election outcome, where the odds on prediction markets and betting sites indicate Trump will likely win.
The USD chart of Bitcoin SV is showing an impressive breakout from the downtrend, which made the coin surge from $100 to $450, an increase of 350%.
Such a massive move upwards is always going to retrace as it’s unhealthy to go up in a straight line. The retracement occurred in the days after and seemingly found support at the $245 level.
The $245 level is significant, as the price of Bitcoin SV couldn’t break through this barrier earlier in June 2019.
Crypto and blockchain job seekers are in for a treat. One of the primary financial regulators – the Financial Conduct Authority (FCA) – in the United Kingdom is looking for someone who can serve in a crypto/ blockchain capacity and help them better understand the properties and abilities behind distributed ledger technology.
To this day, it remains unclear how the law enforcement agencies managed to identify this person.
He is one of the first major cybercriminals to be apprehended despite masking his identity through Tor.
It is a well-known fact that Tor is not a waterproof solution.
Anyone can set up an exit server looking to identify users in the process.
It remains to be seen if this method was used, or something else has taken place.