Connect with us

Bitcoin

Satis report spells good and bad tiding for Bitcoin and Ripple respectively

Published

on

Bitcoin Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

End of last month, Satis Group, an ICO advisory service, and research firm, released a report on the short, medium, and long-term analysis on the price standing and predictions for large-capitalization cryptocurrencies with Bitcoin and Ripple showing impressive results despite Bitcoin’s current unpleasing prices.

The initial coin offering firm published the report with the intentions to examine the current price value of major virtual currencies in the crypto market that include their actual price valuations underlying coin prices.

The published report could not have come at any better time as it contains some market prediction that concern the potential growth of the crypto market in future giving hope to prospective and current investors.

Although at present, according to information provided by CoinMarketCap, the number one ranked cryptocurrency, Bitcoin is exchanging at 6,939 US dollars per coin, marking a price decrease of less 5.77% over the period of last 24-hours. Satis Group analyst predict the price of Bitcoin is going to shoot up to about 96,000 US dollars over the next five years.

It is evident that these new price prediction from Satis Group are not so encouraging in comparison to estimates made by other market researchers and observers who place Bitcoin price valuation in the next five years to be anywhere around the 1 million US dollar level.

Currently, as the market discusses and looks into the findings made by the ICO advisory service and research firm, people are not responding to them positively as Tom Lee, another revered crypto pundit places the price of Bitcoin to be around 91,000 US dollars by Mid-2020.

Regardless of the bashing from investors and traders, the finding by Satis Group still sounds reasonably positive considering the current circumstances that have been bedeviling the crypto market.

Satis Bitcoin’s Bullish Prediction

For some time now, it seems the crypto market has been plagued by stagnation and little positive price movement ever since this year started. But Satis Group has come with hopeful price prediction claiming Bitcoin is going to be one of the virtual currencies that are going to benefit, and realize its potential that the crypto is going to catapult its price to skyrocket to the levels of 96,000 US dollars per coin in the next five years.

Still, on the recent report findings, Satis Group predicts the monetary value of the entire cryptocurrency market would be at $3.6 trillion US dollars by 2023. If this is anything to go by, such a market valuation rise regarding market capitalization would be massive considering the current market cap of the entire crypto market currently standing below 200 billion US dollars.

Satis Group Prediction on Ripple (XRP)

Since the beginning of the year, Ripple (XRP) has managed to maintain a more or less constant price trajectory, and as a result, the digital coin has not been able to fetch attractive price valuation of traction.

At present, Ripple (XRP) is exchanging at around 0.293 US dollars, and when you have a closer look at the digital coin’s price performance since the beginning of the year, you will notice that Ripple’s XRP has been losing its value over time. The cryptocurrency has dropped over 60 percent of its value from the peak.

According to the informatics report by Satis Group, Ripple (XRP) has no utility value attached to it making it a misleadingly marketed digital asset. Many crypto enthusiasts view these sentiments negatively as the digital coin has been gaining mainstream adoption in the financial and banking sector continuously.

Everyone who is familiar with Ripple (XRP) can attest that the digital currency is making highlights with constant news of being adopted by financial companies and banks. It’s just a fact nobody can take away from Ripple.

According to the research, Ripple investors should be on the lookout for a price dip to the zones of 0.01 US dollars away from its current 0.293 US dollar price tag.

For the latest cryptocurrency news, join our Telegram!

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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by rawpixel on Unsplash

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Bitcoin

The rise of the crypto casinos

Published

on

crypto casinos
READ LATER - DOWNLOAD THIS POST AS PDF

In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

Continue Reading

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

Continue Reading

Elite