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An epic Bitcoin price rise will dwarf all previous BTC bull runs in May 2020

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Last week was just murder for Bitcoin. It dropped significantly twice, and it had already gone down for more than 11 months. So there are two questions in the mind of every crypto enthusiast in the world. First, when is Bitcoin going to start recovering value again? Second, when is Bitcoin going to reach an all-time high again?

We think it unavoidable for Bitcoin to recover, and we also think it inevitable for it to reach unprecedented heights at some point in the future. When? We don’t know to be honest.

But there are cryptocurrency observers who think they do have an answer, even a date. In this article, we will explain their arguments. We can’t assure you they’re right, but information is power, so this is probably an idea everybody should know about.

We’ll start with the answer; then we give you the explanation. The next Bitcoin hyperjump will start on May 2020. It will prompt a huge and prolonged bull run that will culminate on December 2021. By then Bitcoin will be around 100k in price. Fascinating, isn’t it?

Before we give you the rationale behind that answer, we’ll give you the context you’ll need to understand it.

As you surely know, Bitcoin needs to be mined. This means that a bunch of enthusiasts all over the world (well, mainly in China) use a lot of computer power to solve a mathematical problem known as an “SHA-256 collision”.

Since it has no analytical solution, it must be calculated randomly, using a computer, and that takes time. This creates a “chain” of “blocks” (hence, “blockchain”), one at a time, and with every new block, a number of new Bitcoins are created. How many? Good question!

In the beginning, every new block created 50 new bitcoins. But Satoshi (the mythical digital superhero who created Bitcoin) wanted to avoid inflation in the Bitcoin environment, so he designed the protocol to make the total amount of tokens limited and progressively harder to mine.

One of the ways in which this goal is achieved is that, every so often, the number of coins created by every new block is halved. So, for instance, after November 28th, 2012, only 25 coins are produced per new block, and after July 9th, 12.5 coins. Next halving event is on May 2020 (you see where we’re going?).

Historically, each time that a halving has been implemented, the Bitcoin prices go through the roof. It happened in 2012, then in 2016. So, many observers are utterly convinced that the next halving event, in May 2020, will also bring about an epic rise in price that will dwarf any of the previous Bitcoin bull runs.

That’s it. That’s what some aficionados are expecting, and that’s the reason supporting their expectations.

But how reliable is this? It’s really hard to say. While it could indeed be a legitimate phenomenon, the fact is that Bitcoin is too young, there have been only two halvings, and there’s not enough data (or data analysis) to guarantee that every halving is going to jumpstart Bitcoin again.

So while this is an idea every serious observer in the crypto verse should know, it should be taken with a grain of salt because, so far, it’s impossible to say it’s not merely anecdotal. Lots of things happen around Bitcoin besides halvings. Now you know, though. We hope it will become useful information to you.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 Pixabay.

Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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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…

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What to Expect in 2019: BTC, BAT, and Steem

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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…

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Altcoins

The Three Biggest Problems with Crypto

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In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?

However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.

Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.

We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:

Scammers

Failed projects

Immature technology

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