Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he commented on this saying that it is still a big issue for institutional investors, which are necessary in the crypto space in order for coins to reach the next step. He even urged exchanges to self-regulate and prevent such incidents in the future, as it will go a long way when it comes to convincing institutions that it is safe to join.
Of course, there are also those who still remain skeptical of Bitcoin, even after its grand return. Nouriel Roubini, known as “Dr. Doom,” is definitely among them. He still believes that Bitcoin is one of the biggest ‘bubbles and busts’ ever created, and his skepticism is only backed by the coin’s constant volatility.
Novogratz’s stock market warning
While as bullish on Bitcoin as ever, Novogratz also has deep concerns when it comes to the stock market, as he believes that overexuberance might be coming. According to him, the hype and enthusiasm around IPOs is a sign that an equity melt-up might be coming.
This comment was likely caused by Uber’s public IPO that is scheduled for Friday, with a goal of raising at least $9 billion. Then, there was Beyond Meat’s IPO, which brought a spike of 163% on its first day. Novogratz is worried that this is not a trend which would last. Indeed, similar happened to Bitcoin in 2017 and early 2018, which eventually led to a year-long bear market.
One theory regarding the potentially upcoming melt-up concerns the Federal Reserve. It is no secret that the US President Donald Trump urged the Fed to cut interest rates, and by a full percentage point, at that. This is not typically a move that would be made within a strong, healthy economy. Novogratz believes that this might be a catalyst that would bring the melt-up, but he also worries that things might not end there.
Novogratz is also not alone in this prediction, as another billionaire, Sam Zell, made a similar warning yesterday. He stated that following Trump’s instructions can only lead to a disaster — one which might severely damage the USD.
On the other hand, Trump’s campaign adviser, Stephen Moore, stated that the Fed’s decision to raise rates last year was a bad one. He, instead, urged the country’s central bank to lower the rates. He also supported tax cuts, even saying that they worked better than expected.
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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.
Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
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TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level
Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
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The crypto market crash of 2018 had brought a lot of troubles for the crypto world, and very difficult time, even for the best and strongest of projects. However, this was also a moment when stablecoins got their chance to shine. Due to the fact that they are pegged to other assets of value, such as fiat currencies, other cryptos, and alike — they were able to keep their prices stable and avoid volatility.
Among them, Tether (USDT) emerged as the most popular and largest of stablecoins. However, the coin also had a misfortune of getting involved in one controversy after another. As a result, many have started disregarding the coin, but even so, it still remains one of the largest cryptocurrencies, currently with $2.78 billion-large market cap.
However, the question of how many more scandals will USDT get involved with remains.
Tether scandals keep emerging
The first big issue with Tether came after it was noticed that it avoids audits which would confirm that all of its coins are backed by an appropriate amount of USD. Scandals continued throughout 2018, and even in 2019. One of the most recent ones came when the project updated its terms and conditions in March of this year. The problem was that it failed to make the changes known to the public.
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