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Bitcoin Price Predictions: $20k Still Possible

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Bitcoin price predictions

Bitcoin price predictions for this year continue, with Fundstrat’s Tom Lee still being convinced that the $20k mark remains a possibility. RT host Max Keiser seems to share this belief, especially since BTC already broke $7,000 in September.

Bitcoin price may still reach $20k, says Tom Lee

Tom Lee of Fundstrat has been known for his optimistic view on Bitcoin and its future. He still believes that various BTC price predictions, his own included, are still possible, most notably the one saying that Bitcoin will hit $20,000 by the end of 2018. This belief has been discarded by many throughout the year, as the constantly bearish market continued to hit cryptos hard, month after month.

Lee recently discussed the emerging markets, stating that Bitcoin’s price movement shares a lot of similarities between them. More specifically, he talked about ETFs like iShares MSCI Emerging Markets Index ETF. This ETF allows investors to allocate their money to various stock/assets portfolios in developing regions and their respective markets.

He then stated that these markets, as well as BTC, peaked at the beginning of the year, only to see a significant downfall later down the line. He also believes that the correlation will continue to hold.

Bitcoin to rise together with the emerging markets

According to Lee, ETFs’ and assets’ performance is strongly influenced by emerging markets, and their increase is the spark that will lead cryptos to new levels of greatness. The correlation between them has been strong ever since the beginning of the last year.

Lee also predicts that various world conflicts, especially the ones between the US and Iran, Turkey, China, and other world countries might also hit the US dollar. If that happens, the price of cryptocurrencies, and especially Bitcoin, might skyrocket like never before.

Max Keiser believes that even $28k per BTC is possible

Despite the fact that 2018 has been marked as an extremely bearish year, Max Keiser also kept the positive stance towards Bitcoin and its price. These days, we mark an entire month since cryptos have reached certain levels of stability. Some even consider the current situation to be decently bullish, with BTC breaching $7,200 per coin.

As usual, a lot of other cryptos followed its progress, and the market even managed to surpass $13 billion, which is a massive increase, especially considering that only a week ago it was barely over $5 billion.

As the end of the year draws closer, digital currencies are once again gaining value, and Keiser believes that his earlier predictions of BTC hitting $28k are still valid. This is further supported by even more interest coming from institutional investors, which are committing to the market via custodian solutions.

At this point, it would seem that even the BTC ETF rejections by the US SEC do not matter. Academie Bitcoin’s Jonathan Hamel shares this opinion, as well as Tom Lee. Even eToro stated that there are numerous alternatives to ETFs, like ETN.

With all of these positives piling up, it is not that surprising that cryptos were able to shake off the bears in favor of bulls. Analysts and cryptocurrency experts believe that this is still only a beginning and that large changes are upon the market, and especially Bitcoin. Whether they are right is anyone’s guess, but considering the way things have been going recently, it would seem that the optimists may be correct after all.

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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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