There is no doubt that the crypto industry has been undergoing ups and downs, with many crypto analysts voicing their sentiments criticizing blockchain-based assets such as Ethereum, Bitcoin, and altcoins as mere fads that are going to disappear and fail in a month’s time.
Although critical onlookers continue to bombard the crypto space with misbelief and doubts on a near-daily basis doom predictions, many crypto pundits within the crypto industry remain unfazed regardless of the negative predictions.
According to a famous New York-based financial news website, TheStreet, that spoke to many influential figures within the budding crypto industry; an immense hope is still alive for this emerging sector.
TheStreet Interview with Hermann Finnbjornsson
The financial news website met and spoke with the CEO and founder of Svandis, a highly proclaimed crypto asset analytics company, Mr. Herman Finnbjornsson. According to information derived from the interview which expressed positive belief in the Bitcoin, Herman stated:
“There is less than a 1 percent chance in my mind that Bitcoin will not succeed. I think that there is a lot of reasons why to be bullish on Bitcoin. Banks are getting into Bitcoin.”
The chief executive of Svandis comments brings up an interesting point of view that is worth examining about traditional and fiat currency financial institutions and banks, as many crypto pundits who have decided to have an optimistic outlook, expect the capital allocation and investment from such institutions are going to drive cryptocurrency’s next bull run.
It is anticipated that the next bull run in the crypto space has the potential to propel the value price of blockchain-based digital assets to higher heights the world has never witnessed.
But this point of view is more than mere wishful thinking, many institutions and companies have already begun either showing interest or are already making significant forays into the cryptocurrency space.
Russell Korus Sentiments on Cryptocurrency
According to a similar interview with the financial news website, EZ Exchange’s chief executive officer, Russell Korus, also added his voice in regards to Bitcoin, expressing that there were reasons to believe that Bitcoin is indeed a game changer in the cryptocurrency field. Korus is noted saying:
“There are several reasons why this new asset class has captured people’s imagination since its inception in 2009 – Bitcoin displays some characteristics that positions it to become a very powerful and alluring concept. It allows for direct, p2p transfer of value in completely trustless transactions. It is fully decentralized, autonomous, writes all of its records to a public ledger, and its record-keeping is completely immutable.”
Bitcoin Analysis and Prediction
As at on last Friday morning, many traders and investors in the crypto space woke up to pleasing news of the majority of digital assets had recorded overnight gains, a move that was met with widespread acceptance and optimism of a nearing bull run in the market.
At the time of writing, Bitcoin is exchanging at $7,364, marking a 0.96% price increase. From where we stand, Bitcoin is now on the right track after recording its third winning week simultaneously, alluding to the fact that cryptocurrencies led by Bitcoin are not going to fall in price and disappear. Not anytime soon.
For quite some now, Bitcoin has been hanging around the range-bound of $6,800 and $7,100, attributed to the declines of volatility in the crypto space in general.
Ethereum Price Analysis and Prediction
At the time of writing, Ethereum exchanges at around $284, recording -1.05% virtual price change in the last 24-hours. Following its intra-week high of $298, the digital asset has failed to sustain a consistent upward trend, remaining in the range bound of $290.
Most of the coins in the market are recording modest gains hence it is going to be wrong to make long-term conclusions influenced by the current market trends.
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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 thorough research before investing in any cryptocurrency and read our full disclaimer.
Photo by Farid Askerov on Unsplash
Importance of Bitcoin ETFs and Bakkt for the Crypto Space
It is no secret that 2018 was a very bad year for cryptocurrencies, at least when it comes to prices and market cap. However, in its brighter moments, this year managed to set the stage for some very important events that are expected to make 2019 very successful and profitable. Two things have attracted the most attention, both of which were expected to occur in 2018, only to be moved for early 2019. Those two are Bitcoin ETF decision by the US SEC, and the launch of Bakkt.
What are Bakkt and Bitcoin ETFs and why are they important?
Let’s start with Bakkt first. Bakkt Exchange is a business that is set to launch at the very beginning of 2019. It is a cryptocurrency platform that is set to offer a large number of services, including things such as warehousing and trading. However, there is another thing that makes Bakkt special, and that is the fact that the exchange itself is a product of the same company that has created the New York Stock Exchange.
In addition, Bakkt will be supported by some very influential names, such as Microsoft, BCG, and even Starbucks, to name a few. Furthermore, Bakkt will support crypto-to-fiat conversions. Starbucks will actually be one of the companies that have volunteered to help test the system, as users will be able to convert crypto to…
SEC Postpones Bitcoin ETF Decision Once Again
The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.
The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.
The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.
Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman
Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.
Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them all,…
What to Expect in 2019: BTC, BAT, and Steem
There are only a few weeks of 2018 left, and considering how bearish and crypto-unfriendly this year was, a lot of investors will likely be pleased to see it gone. Many believe that 2019 will be the year that will correct BTC prices and bring forth the period of great recovery.
But what does that mean for digital currencies? Which ones are a good investment right now? This is something that we will, hopefully, be able to answer right now. Here are the top 3 coins that everyone should keep an eye on in 2019.
1. Bitcoin (BTC)
Of course, we have to start with Bitcoin, the first and largest cryptocurrency. Bitcoin has lost a lot in 2018, and its losses are unparalleled by any other coin. In fact, in terms of market cap, Bitcoin has lost as much as the rest of the crypto market put together.
Many believe that its rapid growth, which started in late 2017 and has brought it to its all-time high, is responsible. That the bearish 2018 was only a one large price correction of the last year’s price surge. Even if this is true, price corrections, luckily, all end sooner or later, and when this one comes to a close, Bitcoin will likely be ready for a big comeback.
2019 is expected to bring a lot that will serve BTC’s rise…
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