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Crypto Hedge Fund Managers Predict Bullish Bitcoin (BTC) Behavior

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BTC

New price predictions for Bitcoin (BTC) are mostly positive, with even large crypto hedge fund managers like Bill Miller and Spencer Bogart joining the trend and sharing their thoughts.

A recent increase in Bitcoin (BTC) price has inspired many investors, crypto enthusiasts, as well as hedge fund managers to come up with new price predictions, and go vocal about cryptocurrencies, in general. The new events in the crypto world certainly indicate that digital currencies, the blockchain technology, and alike might be entering a new era.

This is an opinion shared by many, including Bill Miller, Miller Value Partners’ founder, and CIO, as well as Blockchain Capital’s Spencer Bogart.

Bill Miller sees Bitcoin’s price as a sign of stability

Bill Miller’s recent interview has given him an opportunity to share a rather positive assessment of BTC and its future. He called Bitcoin an interesting tech experiment, but his enthusiasm doesn’t appear to be spreading to many other cryptos. In fact, he called most of them worthless.

Currently, Bitcoin is still above $8,000 per coin, which is something that Miller believes to be a sure sign of stability, as well as increased belief in cryptos. He also believes that the financial industry is handling changes in crypto prices much better now, than a few years earlier. If nothing else, there is certainly much less panic whenever there is a price change.

Miller also said that each day where cryptos aren’t regulated out of existence, blown up, or brought to zero, sees more and more money flowing into the ecosystem, and making it stronger. As for Bitcoin itself, Miller believes that it can be viewed as gold. He claims that BTC might become a new payment system, as well as a viable currency. Not to mention the fact that it is likely that banks around the world might start viewing it as an asset. Making any of these possibilities a reality will help BTC advance significantly.

Of course, there are also a lot of negatives that are harming the market and can continue to do so if left unresolved. These include the market size, regulation issues, various controversies, and alike. A recent denial of ETF request submitted by the Winklevoss twins was also not a good thing for the industry. Still, the crypto world is very young, and there is time for these things to be resolved.

Spencer Bogart: BTC is waiting for a catalyst

As mentioned earlier, apart from Miller, Spencer Bogart also gave his predictions regarding the future price of Bitcoin. According to him, Bitcoin is currently waiting for a catalyst, a reason that would allow it to go even higher than it already is. This might be anything, from ETF approval, to open currency wars.

ETF approval is an especially interesting event that might trigger BTC price spike, but Bogart doesn’t believe that it will arrive soon. At least, not until 2019. The decision is currently in the hands of the SEC and is expected to arrive in about a month. However, Bogart believes that other vehicles are giving access to institutional investors and retail, while everyone is waiting for ETF approval.

Finally, there is another issue that needs to be prioritized in order for cryptos to be able to move forward, and that is security. Multiple exchange attacks and hacks have damaged the market for hundreds of millions of dollars, not to mention the reputation of some of the biggest exchanges around.

In a way, these attacks are a confirmation that even the hackers believe that cryptos’ prices are about to skyrocket. However, with their interest rising, the exchanges are in desperate need of advancing their security.

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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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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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