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Is it a Good Idea to Buy BTC After the Latest Market Crash?

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The crypto market is still vulnerable and subjected to slight price drops, despite the fact that the major crash is believed to be over. With the prices of numerous coins slowly going back up, investors are starting to wonder: is it safe to buy BTC these days?

Is the market crash over?

It has been 16 days since the latest market crash began. This was the second one in 2018 and has left a significant impact on the market, as well as investors’ confidence. The details of the crash are already well-known to everyone — Bitcoin Cash has had a hard fork on November 15, although due to a disagreement between two parties of its community, the prices started dropping, while the fork resulted in two separate coins and the following hash war.

The hash war brought even more damage to the Bitcoin ecosystem, and the entire market started losing value. As always, Bitcoin lost the most regarding the price and market cap. The coin has spent most of this year balancing at around $6,400. After the crash, however, it hit a new low of $3,700. While this is the lowest that BTC has been in 2018, it did not stay here for long. It soon started rising again, breaching the $4,000 per coin, and staying mostly above it.

So, it has been two weeks after the crash initially began, is BTC stable now? Well, not exactly. The coin is currently trying to stabilize, but also to return to its older price. This has led to big price shifts, where the value of Bitcoin, as well as other digital currencies, suddenly starts growing or dropping by a significant percentage. Yesterday, November 29, BTC experienced an 8% growth, only for it to start dropping again on November 30th, this time by over 3%. This situation is expected to continue at least for a while until Bitcoin can find a new bottom.

Is investing in Bitcoin a good idea now?

As always, answering this is not that simple, and it mostly depends on who you ask. There are a lot of respected names in the financial world that are pro-Bitcoin and are quite bullish on it. Tom Lee of Fundstrat Global Advisors, for example, previously believed that BTC will hit $25,000 per coin by the end of the year. He gave up on this prediction when the bear market continued, but he also predicted another price, stating that Bitcoin will end the year at $15,000.

He has yet to change this prediction, which means that he likely expects a bull run to start at some point in December.

John McAfee is also known for being bullish on Bitcoin, and he even came up with his own ways to predict its future. This has led to some astronomical predictions, such as Bitcoin reaching $500,000 per coin by 2020.

Billionaire Tim Draper also believes that the market will bounce back and that cryptos are far from being dead. Thanks to these predictions, a lot of people think that now is the time to invest, since Bitcoin is currently much cheaper than it was earlier this year. It is unlikely that its price will drop further at this point. This leaves only one direction for it to go — up.

Of course, nobody knows the future, and all of this is only speculation at this point. However, cryptocurrencies are known to move in cycles, which is something that experts and analysts are well aware of. If so many of them claim that BTC will soon start rising, it might be profitable to heed such advice.

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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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Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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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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