Connect with us

Bitcoin

2020: The year Bitcoin reaches a million dollars

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

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

Is Bex500 an alternative to BitMEX?

Published

on

Bex500
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Bitcoin

How Bitcoin Has Changed Online Gaming

Published

on

online gaming
READ LATER - DOWNLOAD THIS POST AS PDF

We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

Continue Reading

Bitcoin

The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

Published

on

blockchain
READ LATER - DOWNLOAD THIS POST AS PDF

Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

Continue Reading

Elite