There have been lots of predictions that Bitcoin would reach the $50,000 price mark before 2018 comes to an end. The latest one on the list is from a notable investment manager, Anthony Pampliano – he is quite certain that Bitcoin (BTC) would reach $50,000.
Pampliano is a well-known personality. He is notably the partner and co-founder at Morgan Creek Digital Assets. A firm that takes care of institutional hedge funds and talking about the latest from it, it recently managed to score a strategic partnership with an established VC firm, CityBlock Capital. Pampliano in an interview on Skype with Cheddar stated that the surge will be based on three essential factors: Human psychology, Bitcoin ETF speculations, and the entry of institutional money.
Pampliano stated this to Cheddar:
“I’ve got a high degree of confidence that at some point in the future, it’s going to hit $50,000. And I’ve got some degree of confidence that it will be by the end of this year.”
Anthony also stated that there probably are 30 to 40 percent chances that the price will hit the $50,000 mark before the year closes. Pampliano further twitted this on his Twitter profile:
I’ve stuck to my $50,000 Bitcoin price target for end of year 2018.
Still have high confidence on the $50,000 number. The timeframe is the big unknown.
The next 5 months will be fun to watch.
— Pomp ???? (@APompliano) July 25, 2018
It is important to note that the pullback in the price of Bitcoin in the last 48 hours or so was as a result of SEC’s disapproval of the Winklevoss BTC ETF application – but at the time of writing, Bitcoin has backed-up a bit and currently trading at $8,141 per coin (went below $8,000 right after the ETF rejection news). Pampliano noted that Bitcoin would be extremely bullish and surge higher.
His number one factor was the human psychology, and Pampliano has stated that his projected price mark was the next mega round number that lots of BTC traders would love and would drive the value to the $50,000 price mark. When Bitcoin’s price broke above the $8000 price mark, it moved above three resistance levels without being overbought.
“There’s a lot of speculation on the new ETF decision, [but] I don’t think it’ll get approved in the next 30 days or so. There’s a lot of people excited about that.”
SEC’s approval on Bitcoin’s ETF is improbable, and the speculation about future approval is Pompliano’s second factor that would maintain Bitcoin bullish sentiment.
It is important to note ever since this month, the market has brought some bullish sentiments which have matched unexpected happenings such as the China and U.S trade-off.
Pompliano’s third factor or reason is on the institutional money. He said that the institutional money entry can surge Bitcoin’s price to $50,000. Pampliano is familiar with the activities of institutional investors since he is a partner at Morgan Creek Digital Assets. Pompliano states:
“You can see institutional money coming into funds and future contracts so you’re starting to see really big volume in some of these products. I think that’s going to drive the asset.”
He also stated that cryptos are pleasing to hedge funds too, and there are looking for the chance to make big gains.
Finally, on Pompliano’s prediction, all we need to do is to keep our fingers crossed and see how the market turns out before the year closes.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Smart MFG Tech Announces its First Liquidity Mining Rewards Program on LINKSWAP
Manufacturing Industry 4.0 company Smart MFG Tech has announced that it is launching its MFG Liquidity Mining Rewards on LINKSWAP today. LINKSWAP is a decentralized, community-governed Decentralized Exchange (DEX) and an AMM platform, which was created by YF Link (YFL). The team at YF Link says it aims to address “the pain points of second-generation AMMs” by offering such features as Reduced Impermanent Loss, RugLock, SlipLock that are not offered by other platforms.
Smart MFG Tech has said that the first integration of the MFG liquidity mining rewards will use the LINKSWAP LP (Liquidity Provider) Rewards service. It will allow LPs to deposit their LP token(s) (UNI-V2) to the participating rewards pool (ETH|MFG) and earn MFG rewards seamlessly. Smart MFG said it will continue to work with the YF Link team to provide support for other pairs and expand services.
LINKSWAP’s Rewards is a liquidity mining service that enables LPs to earn rewards for providing liquidity in a participating pool. YF Link has implemented a custom frontend solution for Smart MFG LP rewards pool on LINKSWAP. This will allow LPs to add liquidity to Smart MFG’s existing ETH|MFG pool on UniSwap v2 and deposit their LP token(s) (UNI-V2) to their LINKSWAP rewards pool (ETH|MFG).
Smart MFG explained how the rewards can be earned:
“LPs get a share of the transaction fees on Uniswap v2. This is calculated by how much liquidity is provided relative to the percentage…
Building Your Nest Egg Brick By Brick: Are Micro-Investments Here to Stay?
No matter what our goals are, sometimes just getting started can be the most difficult part of building our savings up. When it comes to investing, many of us are wary of parting with our money to generate more financial security in the future. But what if you can build significant savings without even noticing?
That’s the aim of the micro-investing apps that have come to dominate online stores across Android and iOS. Today, more fintech startups are working on delivering refined solutions that encourage minuscule investments at a more frequent rate.
Micro-Investing apps will look to make saving more accessible to young people – many of whom in the UK have little-to-no money tucked away for a rainy day.
However, the prevalence of money-saving technology and the disruptive chaos of the COVID-19 pandemic appears to have prompted a widespread increase in households saving more of their disposable income:
With micro-investing platforms playing a role in bringing UK household savings back up to five-year highs, is it fair to say that little-by-little investing is here to stay? Let’s take a look at how micro-investment platforms could revolutionise how we manage our finances:
What is Micro-Investing
Micro-investing, or sparse change investing, is a relatively new development in fintech. It effectively enables users to put away small amounts of money towards their long, or short, term goals. The idea…
Decentralized Insurance Platform Bridge Mutual to Launch BMI Token on Polkastarter
Bridge Mutual, a decentralized platform that allows users to insure stablecoins, has announced that its native BMI token will be launched on Polkastarter tomorrow, January 30. The Polkadot’s decentralized exchange will host an Initial DEX Offering (IDO) for Bridge Mutual.
“Even the most sophisticated digital asset investors are at risk of losing their funds through various malicious and negligent activities in the blockchain ecosystem. With Bridge Mutual, we believe it doesn’t have to be this way. Using Bridge, people can control the risk exposure of their digital asset investments, just as they do with real-world assets. The Bridge Mutual platform allows people to offer and purchase coverage in a decentralized p2p way. We’re excited kickstart the launch of the BMI ecosystem with a launch on Polkastarter and creating a better way of protecting digital assets for users all over the globe,” Bridge Mutual CEO Mike Miglio said in a statement.
Bridge Mutual allows users to buy and sell insurance for smart contracts, stablecoins and crypto exchanges, peer-to-peer. Users can purchase insurance via the Bridge Mutual app and then file a claim if their digital assets are lost after a hack. “When users lock stablecoins in Bridge Mutual’s coverage pools, those funds are reinvested into popular (and safe) yield generating platforms that return yields to coverage providers. When a claim is approved, stablecoins from the coverage pool goes…