Connect with us

Bitcoin

Bitcoin (BTC): Another Big Bull Run is Coming

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

There is no denying that the last few months since December 2017 have been a bumpy ride for the King of Crypto: Bitcoin (BTC). Mid-December found BTC reaching for the sky at levels of $20,000. A little over six months later, on June 29th, the same BTC was valued at $5,800. This was a significant drop in value of 71%. Some have called it a massive correction, while others have speculated manipulation due to Bitcoin futures contracts.

Whatever the reason, there are a few reasons to be Bullish once again about BTC.

To begin with, Coinbase has just showcased its new service by the name of Coinbase Custody. This new service is geared towards institutional investors and high net individuals who want a secure place to store their digital assets. Coinbase will provide cold storage for such institutions and individuals at a fee that will cover additional benefits such as insurance. This means that the billions, if not trillions of dollars from Wallstreet, is headed towards the crypto markets and Coinbase providing a secure avenue for that.

A second reason to be bullish about Bitcoin is the ongoing regulatory progress with regards to the King of Crypto. The American SEC has already declared it is not a security. Therefore, this paves the way for institutional investors to buy it in the regular crypto markets. The country of Malta has also passed 3 bills to regulate crypto and their exchanges in the country. This is why Binance is planning on opening a crypto exchange there. Other countries that have shown an interest in regulation are Japan, Australia, South Korea, Philippines, Indonesia as well as Kazakhstan.

Once the question of regulation has been solved, it is all systems go for a bull run in the crypto markets as we head into the second half of 2018.

A third reason why we are headed for another BTC bull run is the fact that the CBOE Global Markets, have filed for a new Bitcoin ETF license application with the SEC. Even though the SEC has declared that they will not be regulating BTC directly, ETFs are marketable securities that track an index, commodity, bonds or a basket of assets. This means that ETFs can track the price of a crypto index with BTC in it.

Finally, the country of Australia has recently partnered with IBM in a bid to catapult the country into the front row of blockchain and technology advancement in the world. IBM has already partnered with Stellar (XLM) making the case for crypto and blockchain adoption stronger. This means that the government of Australia will slowly but surely become more crypto friendly with time. As a result, BTC will prosper.

In conclusion, the decline of BTC and the crypto markets seem to have been abated by the recent signs of progress exhibited by regulatory clarity; Coinbase Custody services; the ETF application by the CBOE; and the Australian government partnering with IBM. This means that the future is bright for not only BTC but the entire crypto markets.

or the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Bitcoin

4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now

Published

on

Bitcoin rally
READ LATER - DOWNLOAD THIS POST AS PDF

After more than a year of declining prices, the crypto market is finally seeing a period of serious recovery — one that has already brought digital currencies to heights not seen in over half a year now.

Only days ago, Bitcoin surged past several major resistance levels and managed to exceed its yearly high of over $8,000. Already, many skeptics are predicting the soon end of the bull run, and the possibility of yet another sharp decline. However, there are signs that suggest otherwise — that this bull run is only getting started, and that it will not end anytime soon.

There are four reasons why this is the case, and they are as follows:

1) Bakkt

There is the long-awaited Bitcoin futures exchange, Bakkt, which recently announced that the July test date for Bitcoin futures is soon to be set. Bakkt’s launch was delayed multiple times already, so the announcement came as quite a surprise. However, it appears that it will happen quite soon, after all.

As soon as its arrival becomes a certainty, Bitcoin will likely skyrocket even further, just like gold did when gold ETF appeared in 2013.

2) Bitcoin completely ignored the hacking of Binance

Binance has been the largest crypto exchange by trading volume for a while now, and as such, many expected that, if anything were to happen to it, Bitcoin…

Continue Reading

Bitcoin

The New Rally Has Arrived: Crypto Market Cap Goes up by $24 Billion Within a Day

Published

on

crypto market
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto market’s recovery progresses further, and at a rapid pace, at that. Bitcoin has just surpassed the $8,000 mark, which is the first time its price has been that high since July of last year. In addition, the entire crypto market is making billions within hours.

Bitcoin (BTC) sees another serious surge

In the past 24 hours, the total crypto market cap has gone up by around $24 billion. Meanwhile, BTC price has grown by $1,000 within the same period, as the largest coin traded barely above $7,000 on early Monday. At the time of writing, the coin’s price sits at $8.014.31, with a 14% growth in the last 24 hours. Meanwhile, the BTC market cap has gone up to $141.85 billion, and even the coin’s trading volume surged to over $31 billion.

While many are wondering whether this is a return to the massive heights seen back in 2017 or only a temporary surge which will soon see a correction — no signs of an upcoming decline have been noticed as of yet. In fact, new heights were made and then exceeded multiple times in the past week, with a massive 33% gain during that time. And, with Bitcoin’s dominance at 60%, many are expecting that massive altcoin surges are to be expected as well.

The growth of altcoins can already be seen, as Bitcoin

Continue Reading

Bitcoin

The Crypto Market Reaction to Bitcoin (BTC) Recent Surge

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

Bitcoin (BTC) is finally back on track, with the world’s largest cryptocurrency recently reaching heights that were not seen in over half a year. The coin’s last big milestone was $7,100, and while it has gone beyond it, at the time of writing, a slight correction has started taking place.

However, while all of the attention is on BTC, it is also interesting to see how the altcoins are reacting to the new development. The market, as a whole, is looking a lot better these days, and it continues to improve constantly.

Bitcoin dominates the market

Bitcoin is currently once again dominating the market, with the belief that it needs to reach 60% in order to bleed out the overvalued altcoin markets. These days, its dominance is between 58% and 62%, depending on where you get your data from. This provides excellent conditions to try and predict what might happen to the rest of the market, as a similar situation already took place in the past.

Back before the new surges of 2019, and even before the bear market of 2018, and even further back, before  BTC reached its peak — Bitcoin saw similar levels of dominance on December 4th, 2017. Back then, the list of the top 10 largest cryptos by market cap had barely any similarities with the list as it is these days.

However,…

Continue Reading

Elite