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2020: The year Bitcoin reaches a million dollars

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Earlier this year, John McAfee, the world’s pioneer in digital security, famously (and controversially) predicted Bitcoin’s price to reach a million USD per token by the end of 2020. This forecast looks very dubious at a time in which Bitcoin is struggling to stay over 5,000 USD, let alone 10,000. So how can you make sense of this in the current crypto climate? Let’s try and find out.

In this article, we will take the million dollar predictions seriously, look at current and past data and explain to you why it’s actually possible for BTC to reach the million dollar mark, even if it doesn’t look very probable as things stand right now.

The token’s growth would need to be small but exponential for it to reach the million mark by December 2020. More specifically, it should grow at 0.048% daily. The thing is: Bitcoin has had that kind of growth for most of its existence.

We’ll take this May as a reference point. On that month, the price was at $9,000, and at that moment the prediction curved fitted perfectly with the coin’s market performance. And before May the actual price outperformed the exponential prediction curve seriously. Then it started to go down, and it’s been way away from the expectations ever since.

For BTC to be back on track with McAfee prediction, it should be at $35,000 in three months, and break the $100,000 barrier by next September. It doesn’t look like the most plausible way for the market to develop. But let’s remember the past.

There was a time in which it seemed impossible for Bitcoin to reach the value of a single dollar. But it happened. Then the new psychological mark became 10.00 USD, and it also happened.

Then in time, it reached 100, 1000, 10,000 and got as high as 17,000. Each of those prices was considered to be an impossible milestone at some point in the past, and they all happened anyway. And the same thing happened every time: every Bitcoin aficionado ended up wishing they would have entered the market earlier.

Bitcoin has shown tremendous resilience. It’s had four serious bear runs over the last ten years, and it’s come back with a vengeance reaching unsuspected heights every time.

You also have to take into account that the crypto market is still in diapers. It’s yet to mature. Adoption in the mainstream is happening all over the world but it’s not high enough for the market to respond to real-world usability and economic principles, but it’s still driven by speculative pressure. This will happen as the market matures and it will change the game not only for Bitcoin but everybody as it will drive demand and market value up.

So, will BTC surpass the million mark by December 2020? We think it will. But we are not your financial advisors, so you should do your own research and homework so you can decide correctly if this is a good time to enter the market or hodl Bitcoins you already own. Just remember that this is a market in which the rational and patient players will win big, and speculators that take gut decisions will lose heavily. Which kind would you like to be?

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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.

Image Courtesy of Pixabay.

Bitcoin

Basic Guide on How to Spend Bitcoin and Other Cryptocurrencies

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In recent years, Bitcoin and other cryptocurrencies have entered more into the mainstream. Most people walking down the street have at least heard of Bitcoin. While a lot of people got involved in the buying and selling of cryptocurrencies to try and make a quick buck, most people who are enthusiastic about the world of blockchain are in it for the long haul. 

These are usually the people who are going to be more likely to actually use their Bitcoin and other cryptocurrencies as a payment tool and not just as a storage of wealth or a trading tool. This guide looks at a few different ways in which you can use your Bitcoin in spending capacity. 

Crypto Debit Cards

Perhaps the easiest way for you to spend your cryptocurrency is by linking up your holdings to a debit card. 

These days, many of the leading card providers such as MasterCard and Visa have these types of crypto-linking debit cards. These cards can be used just like you would a normal debit card that is linked to your fiat currency bank account. 

Naturally, the most popular type of crypto debit card is going to be for Bitcoin, but there are other cryptocurrencies catered for also. 

Prepaid Cards

There…

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Hybrid Bitcoin Casinos or Bitcoin-Only Casinos – Which Are Better?

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The rise of cryptocurrencies over recent years has had an impact on several industries. Gambling is one such industry, and many of the best online casinos offer Bitcoin as a payment method

Some of these casinos work exclusively with cryptocurrencies, while some are more traditional gambling sites that simply have integrated crypto on top of their fiat options.

This post will take a look at the advantages of joining a Bitcoin-exclusive casino on the web versus picking a hybrid one.

Advantages of Hybrid Bitcoin Casinos

Let’s start with the hybrid Bitcoin casinos. Usually, those are traditional gambling platforms that have been around for a long period of time. 

They offer classic payment methods such as Visa, PayPal, Skrill, and similar. At some point, they decided to add Bitcoin and potentially other cryptocurrencies to their portfolio. 

If you decide to join an online casino of this type, you will be able to enjoy the following benefits.

Lower Risks

Such online casinos often have a strong reputation and are licensed by respected gambling commissions such as the UK Gambling Commission, the Malta Gaming Authority, and similar regulators.

They are known for protecting the customers and monitoring all actions…

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Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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