Connect with us

Bitcoin

Crypto Market Will Bounce Back, Claims Billionaire Tim Draper

Published

on

Tim Draper

As the period of uncertainty for the crypto space continues, not everyone seems to be equally as scared for the future of digital currencies. Despite the recent Bitcoin sell-off, billionaire and major crypto investor, Tim Draper, seems to believe that a period of recovery is about to start soon.

While even the near future of Bitcoin and other digital currencies cannot be predicted with accuracy, Draper believes that Bitcoin value is going to keep getting higher, especially in the next several years. In fact, he even stated that cryptocurrencies will likely overtake fiat currencies at some point in the future.

During the Las Vegas-based World Crypto Con, Draper stated that cryptocurrencies will be much easier to spend, use, and invest with, in the near future. People will be able to do whatever they want with them since they are frictionless and they cost less. These reduced costs alone will be a significant improvement for people, according to Draper.

He believes that for these and other, similar reasons, people will eventually want to move to cryptocurrencies, while fiat currencies, which he calls political currencies, will be left behind.

In the meanwhile, the market remains unstable, with Bitcoin often going below and above $4,000 per coin. The lowest that it ended up being this year was at around $3,700, which happened only days ago, while Bitcoin’s current price remains slightly over $4,000.

Since the rest of the market dropped as well, and Bitcoin’s market cap is more than half of the market cap of the entire crypto space, the total crypto market capitalization also lost half of its value in the last 15 days.

The turning point

According to Draper, there are multiple countries that understand that cryptocurrencies are bound to bounce back at some point. Because of that, they already started adopting them, and the current market crash did not discourage them. Trying desperately to cling to old currencies is a mistake and a waste of time, according to him. This is why smaller countries seem so prepared to accept and adopt Bitcoin, cryptos, ICOs, as well as blockchain.

A lot of investors also remain convinced that Bitcoin will reach the value of $250,000 in the next 2-5 years. In addition to that, Draper is convinced that the world will soon reach an uneasy balance when it comes to the use of crypto and fiat currencies and that it will become easy to exchange Bitcoin for dollars and vice versa.

Draper’s positive outlook has inspired him to even start a Bitcoin venture fund, which is one of his next big projects. He has revealed this plan quite recently, although he has yet to decide when he will actually start the project. However, so far, his plan is to raise a fund that is all Bitcoin, invest into numerous companies, and have them pay their workers, as well as suppliers, in Bitcoin.

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

Image courtesy of Pexels

Bitcoin

Is Bitcoin Esport Betting the next big thing in BTC Casinos?

Published

on

Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

Continue Reading

Bitcoin

Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

Published

on

Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

Continue Reading

Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

Published

on

AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

Continue Reading

Press Release