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Bitcoin Price Predictions: $20k Still Possible

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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

What Caused So Many Investors to Turn to Bitcoin in 2017?

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Bitcoin (BTC) has been growing increasingly popular in recent years, especially in the last two. About five weeks ago, the coin celebrated its 10th birthday, however, while it has been an entire decade of its existence, it was basically unknown to anyone who is not a particularly interested in new technologies. This all changed in 2017, when Bitcoin’s price skyrocketed from $1,000 to $20,000, making it the biggest trend of the year.

Suddenly, the entire world heard of its name, and cryptocurrencies finally got their place under the spotlight. Investors continued to arrive at the crypto space, cash was flowing, hundreds of new coins emerged, and more optimistic analysts predicted Bitcoin’s price going even higher, potentially reaching $50,000, $100,000, and more.

However, as we know today, it was not to last. 2018 was barely a few weeks in when the market crashed, the prices started dropping, and investors started selling. The profits were quickly lost for anyone who did not cash out in time, and these days, Bitcoin’s price sits at around $3,812. The crash reminded everyone that cryptocurrencies remain as volatile as ever and that they still pose a risk for investors. But, people already knew this, so why did they invest in the first place?

Chart courtesy of TradingView

Bitcoin is alluring

The first thing…

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Bitcoin

Top 5 Presidential Candidates Thoughts About Bitcoin

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The cryptocurrency space is growing larger and has more impact on our everyday life with each new year. Despite the low prices and market crashes in 2018, the situation on the market seems to be taking a turn for the better, especially after a new surge that started on February 8th. However, as we progress through another year of cryptos’ fight for survival and adoption, the 2020 US Presidential Elections continue to approach.

With that in mind, it might be worth knowing what the current major Presidential candidates think about the crypto space, and Bitcoin (BTC), in particular. Of course, no one can know who will get elected and whether the next US President will be a crypto investor or someone who will have no problems with imposing even stricter regulations that might limit the market’s potentials.

Even so, we can at least see what they had to say about the crypto industry, and form some sort of expectations regarding the future based on that. It should be noted that the list does not include every candidate, only the major ones, and those who decided to take a notable stance towards Bitcoin.

1) Cory Booker

Let’s start with the Democratic candidates, the first of which on our list is Senator Cory Booker. Unfortunately, Sen. Booker did not reveal what his thoughts are on Bitcoin and the crypto industry,…

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Why Chinese New Year Affects Bitcoin (BTC)

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Bitcoin (BTC) lost about $100 in value in the last week, and, while reasons behind the drop in crypto prices can often be hidden and unclear — this time, that is not the case. The reason for this drop is believed to be the celebration of the Chinese New Year.

The New Year celebration was over more than a month ago for most of the modern world. However, things are a bit different in China. This is a country which is considered to be one of the oldest ones in the world, with a long and complex history. The country’s traditions are fascinating to many around the world, as so many of them are different from western culture. One of these traditions is the Chinese New Year.

The New Year celebrations in China start on January 28th, which was a week ago. The New Year itself is today, February 5th, although the celebrations and festivities are going to last until February 19th. For the people of China, and all those around the world who follow the country’s tradition, this is the time to relax, take a break, and perhaps travel and visit friends and family. But, what does it have to do with Bitcoin?

China and Bitcoin

Those who are new to the world of cryptocurrencies have likely already heard many stories about China banning Bitcoin trading and…

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