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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

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

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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…

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

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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

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The Crypto Market Reaction to Bitcoin (BTC) Recent Surge

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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,…

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