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Bitcoin and cryptocurrency market bull run in the offing - Global Coin Report
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Bitcoin and cryptocurrency market bull run in the offing

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In the wake of the latest price appreciation of the leading cryptocurrencies such as Bitcoin, many crypto pundits and experts are trying to come up with reasonable explanations on the sudden price movement being witnessed in the market. Some analysts are leaning towards a short squeeze argument while others argue that the rumors doing rounds on an imminent BTC ETF pronouncement from the SEC have been the driving force behind the new market hype.

For Bitcoin prices, first it was trading at 6,000 US dollars a few months ago, then the number one digital coin skyrocketed to exchange at 8,000 US dollars a few weeks ago. Today, Bitcoin is trading at about 8,176 US dollars per coin (even after the ETF rejection by SEC), a huge difference from its initial value of 5,849 US dollars in June.

Even though the prices have shaken a bit after SEC thrown BTC ETF case file in the air, currently, Bitcoin is on an upward trajectory and back on winning ways once again. In the last one month, the market has witnessed the prices of virtual currency rising by 33 percent and appreciating by 20 percent within the last few days (until the Bitcoin ETF wasn’t rejected).

However, the question many investors are asking is the present value increase foretell the start of another market rally for Bitcoin and other major virtual currencies?

The Price Surge Case for Bitcoin

Protagonists of Bitcoin are standing on their ground and claiming the number one ranked digital currency’s price surge could be the starting point of a bull run that is similar to the one that was witnessed in the latter quarter of last year when digital currency’s value hiked to almost 20,000 US dollars.

According to the CEO and founder of a cryptocurrency-focused investment company, BKLM LLC, Brian Kelly, while talking to CNBC, big traders and sellers have exited from the virtual currency space leading to the drawdown of Bitcoin’s prices.

However, due to Bitcoin’s exchanging share of the overall virtual currency markets, Bitcoin’s dominance in the crypto market space has increased and solidified remarkably. The more investors exchange using BTC, the stronger it becomes. The last few weeks has seen the cryptocurrency’s dominance rate move up, signaling investor confidence and trading into cryptocurrency.

News development has also played a significant role in propelling Bitcoin and cryptocurrency market in general into the mainstream consciousness. I am talking about the news such as:

Pantera Capital announces lifetime returns of more than 10,000 percent

Recently, major digital currency investment company, Pantera Capital disclosed to the world a mind-blowing return of more than 10,000% on its fund. Announcing the news during their 5th year anniversary, Pantera shocked the market airwaves with their pronouncements via email of their envious returns with the company still bullish on Bitcoin and are likely to continue investing in the number one cryptocurrency in the market.

Pantera is devoted to some leading distributed ledge companies and virtual currencies, with its portfolio reading names such as Zcash, Korbit, Bitstamp, Ox, and Polychain.

Other Cryptocurrency news such as the HashFlare Bitcoin mining resumption news, Coinbase Internal probe, and Bitcoin cash allegations are positively impacting Bitcoin prices and the general cryptocurrency market. A majority of the top ten cryptos in the market are starting to make a come-back, we are carefully monitoring the situation, but a continued price surge is expected in the market.

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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

Why Bitcoin (BTC) Revival is Likely to Continue

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The cryptocurrency market has been doing rather well in 2019 — certainly much better than in 2018. More than a year ago, the market crashed from its all-time high, and in the months that followed, it lost over 80% of its market cap. Bitcoin (BTC), as the leading digital currency, also dropped from $20,000 per coin to barely $3,200 in 2018.

These days, however, the situation seems to be turning, with digital currencies seeing significant growth in prices ever since mid-February. While January stopped the drops, February is the month when the market once again started seeing gains, and this kind of behavior has continued to this day. But, what does this mean for the future? Is this a passing trend, or is the crypto winter truly over?

The revival of Bitcoin

Questions such as the short-term future of Bitcoin are on many traders’ and investors’ minds right now and have been ever since the prices started growing again. A well-known Futures Now trader, Jim Iuorio, recently stated that Bitcoin would start seeing massive profits if it surpasses the price of $4,045. That was, of course, before the coin surged by around $1000 in the last week.

However, Iuorio’s prediction was that BTC is unlikely to go below $3,820, while the growth beyond $4,045 would mean massive gains for those involved with the industry. Soon after this prediction…

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How to Become a Millionaire without Risking Everything with Bitcoin

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It’s been well over a year since the crypto market reached its peak and then crashed, dropping to such lows that most of the coins lost anywhere between 80% and 95% of their value. A few of them lost even more. Of course, this was not enough to eradicate the crypto market, and the bulls are still as optimistic as ever, especially these days, when Bitcoin price surges again, taking the rest of the market with it.

Some predictions claim that Bitcoin will reach its own glory days within a year or two, and there are even speculations that the largest cryptocurrency might spike up to $100,000 per coin. One claim from last week even sees BTC hitting $400,000, as the highest price which someone was brave enough to predict.

While it is certainly possible — at this point, pretty much anything is — not everyone is willing to take such a gamble and invest their hard-earned money into a risky asset such as digital currencies. With that in mind, here are three alternatives that are considerably safer than Bitcoin and the altcoins.

1. Investing and re-investing in stocks

A lot of people — especially younger generations — find stocks to be incredibly boring. Most of the time, all you do is invest, and use the returns for re-investing in high-yielding shares. However, while boring will not…

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The Best Time to Buy Bitcoin (BTC) Approaches

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Ever since 2019 started, the bear market of 2018 has been losing momentum, with the bulls emerging numerous times in short intervals. This was the beginning of a crypto recovery, which still has quite a long way to go.

However, last week, Bitcoin saw massive growth in transactions, reaching a 14-month high. These were the levels that were previously seen back in 2017, as BTC approached its highest point in terms of price. The growth also reflected strongly on BTC price, which spiked yesterday from around $4.100 to the current $4,672.

Meanwhile, Bitcoin market cap followed as well, currently sitting above $82.3 billion, while the trading volume exceeded $14.5 billion.

What caused the growth?

While this is an exceptional growth, and potentially a start of the bull run that everyone was waiting for, it did not come without a cause. One of the reasons why BTC surged was last week’s Weiss Ratings report of multiple different cryptocurrencies. The report’s authors even stated themselves that the best time to invest might be very near at this point.

Weiss Ratings has done reports about specific coins in the past as well, and this time, they noticed a significant improvement in coins’ performance. The report mentions growth in user transaction volume, network capacity, as well as network security, which the authors took as an improvement coming from the evolution of the…

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