Bitcoin (BTC) $8000, Next Stop $10k - Global Coin Report
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Bitcoin (BTC) $8000, Next Stop $10k

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Bitcoin

Bitcoin (BTC) continues the new bull run by reaching $8,000 and even surpassing it. Now, crypto experts, including the billionaire Mike Novogratz are setting the next milestone at $10,000 per coin.

Bitcoin (BTC) continues to rise

For over a week now, Bitcoin (BTC) has been on a rise, for the first time in months. Cryptos have had only one period that indicated an improvement since the beginning of the year, and that was in mid-May. Now, a new bull run has had everyone excited, especially this time, it seems to be a legitimate market recovery.

Bitcoin has led the bull run and has exceeded $8,000. This is the first real increase since the beginning of 2018 and the first time that BTC’s value has gone above $8,000 in the last two months. Bitcoin enthusiasts, analysts, as well as the hedge fund manager and billionaire, Mike Novogratz, claim that the next big milestone for BTC is $10,000.

Not only that, but everyone also believes that the regulatory clarity that is expected in the next few months might bring BTC back to its peak, and return its price of $20,000 per coin. The new development is also expected to attract new institutional investors, even those who were purposefully hesitant to join the crypto trend up to this point.

At the time of writing, Bitcoin’s price is at $8,254.49, with a rise of around 3.32%. For over a week now, Bitcoin has been seeing almost nothing but green, and many expect that the bull rally has started for real, this time. It all started with a 19% increase that hit the crypto last week. The trend continues this week as well, and Bitcoin continues on its way back.

Changes in Bitcoin’s behavior are known to be a strong influence on other cryptocurrencies, and most of the time, the others follow BTC’s example. This time, however, while Bitcoin continues to grow with each day, most of the other altcoins, including the biggest ones, are in the red. Ethereum (ETH), Ripple (XRP), TRON (TRX), Stellar (XLM), Cardano (ADA), IOTA (MIOTA) are all reporting loses, while BTC flourishes.

Thanks to a situation like that, BTC is dominating the market, with its dominance increasing well above 46%. This marks a positive change, considering that BTC’s dominance has been going down ever since the year started. Now, however, the situation seems to be changing, and many are expecting for BTC to even hit some new records.

From $8,000 to $10,000, with $20,000 coming next

Obviously, a shift like this has been something that BTC investors and crypto enthusiasts have been waiting for over half a year. Now that the coin has gone bullish again, many expect it to reach the old heights as soon as possible.

Mike Novogratz, a known billionaire and a hedge fund manager, who was also a partner at Goldman Sachs previously, has always been a strong crypto supporter. According to him, Bitcoin has run out of lows to reach, and it can only go up from here on. He predicts that the coin’s next stop is $10,000, with $20,000 being the next milestone.

Novogratz also gave a comment regarding the current situation during the South Korean Beyond Blocks Conference. At that occasion, he said that institutional investors are the biggest change this year. He also predicted that the entire ‘herd’ of them will be heading for the crypto market soon enough.

Still, Novogratz recognizes that Bitcoin requires additional regulatory clarity in order to make a stable move back up. Still, he believes that BTC is on a good path that will bring it back to greatness, and has also previously stated that he expects for BTC to hit $25,000 by the end of the year.

He has since reduced this amount due to his belief that regulatory clarity and custody solutions have yet to arrive. Still, he continues to claim that it is only a matter of time before this becomes reality, stating that it will likely come to pass in the next 6-18 months.

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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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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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The Pros And Cons Of Cryptocurrency

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cryptocurrency

Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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Bitcoin

As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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