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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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Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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