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Investing in Bitcoin is like Investing in Microsoft and Amazon in 2000 - Global Coin Report
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Investing in Bitcoin is like Investing in Microsoft and Amazon in 2000

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Bitcoin
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The situation regarding the Bitcoin market right now looks a lot like the one surrounding big tech companies like Amazon and Microsoft 20 years ago.

Crypto market struggling again

The unstable nature of cryptocurrencies has been confirmed once more in the last few weeks. Only three weeks ago, many believed that another serious bull run is afoot after Bitcoin (BTC) hit $8,400 in a matter of days. This increase was warmly welcomed by crypto investors and enthusiasts from around the world, believing that the bearish trend that has dominated the year up to that point was finally over.

However, the bull run was short, and now, in mid-August, Bitcoin is once again struggling, seriously threatening to go under $6,000. Many believe that another drop might permanently damage BTC, making its struggle for dominance finally over. If that were to happen, the coin would never be able to reach its true potential.

And, while the situation with Bitcoin is bad, it is nowhere near as bad to the situation of the altcoins. While almost all cryptos are in the green at the time of writing, Ethereum (ETH) has seen a significant drop yesterday, as well as the day before. Ripple (XRP) has gone down by 93% from its record height.

While many have been trying to find a reason behind this behavior, some, like CoinShares’ Chief Strategy Officer, Meltem Demirors, believe that the issue lies in the lack of investors. This is especially true when it comes to institutional investors, since the market behavior either discourage them from bringing money to the crypto world, or they completely lose interest in it.

Demirors believes that this is due to the fact that cryptos are still mostly valued by their price. While the price does play a significant role, things like currencies’ goals and technology should also be taken into consideration. A lot of cryptos have a huge potential to revolutionize numerous industries. However, they can never properly shine since everyone are only looking at their prices. Prices that are almost always influenced by Bitcoin’s behavior.

The new coins are hit by the bearish trend especially hard. Blockchain startups that are hoping to launch their own coin through ICOs have a choice to either sell their assets now and keep whatever funds they manage to gather or to stay their course and hope for the best. Obviously, this is not much of a choice, and definitely not the way that future successful businesses should be acting.

While a lot of ICOs are trying to raise capital through BTC or ETH, they can’t do much with the prices constantly dropping. And, while there are somewhat stable altcoins out there, and they can preserve their value in the long run, there is also a big decision regarding which one can and should be trusted.

The history repeating itself

According to Demirors, this is a very similar situation to that in the early 2000s, when revolutionary technology companies like Intel, Microsoft, and Amazon appeared. While these have become megacorporations in the last 20 years, back then, they also struggled to gain trust and necessary funding.

Additionally, all those that did decide to support them had to wait for nearly a decade or more to see returns on their investments. The wait paid off, and they are all rich now, but at the beginning of these companies, the risks were huge.

Demirors also stated that new technologies, and especially ones that threaten to change everything that we have known so far, often take a very long time to be understood and accepted. Obviously, with the introduction of cryptocurrencies, this change is even bigger, since we have been using the physical money for thousands of years. Now, all of a sudden, the digital money is trying to take over. And while it definitely presents numerous advantages, accepting such a large change is not an easy thing to do, especially for older generations that are currently still calling the shots.

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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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