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McAfee on Bitcoin (BTC) Predictions

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In a surprising turn of events, Tom Lee has decided to alter his price predictions for Bitcoin (BTC) and has explained this change on CNBC’s Fast Money. After gaining quite a bullish reputation for stating that Bitcoin will reach $25,000 before the year ends, he reduced that number to $22,500.

Tom Lee changes his BTC price prediction

Tom Lee has become well-known for his bullish stance towards Bitcoin and its future price. He is the only strategist from Wall Street to do so. However, an earlier statement that Bitcoin would be at $20,000 by the end of the year, considering its historical trade is around 2.5 times the mining cost has left crypto enthusiasts thinking that he might be going bearish on BTC.

Many critics pointed out that the new prediction is up to 20% lower than what he was predicting last year, which did not sit well with them. However, while attending Fast Money, Lee corrected himself by saying that he may have misspoken earlier. According to his statement, what he wanted to say is that the mining costs were usually a relatively safe way to calculate Bitcoin’s future price.

The price was usually 2.5 times higher than the cost of the mining operations. Considering the expected growth of the costs over time, the price of BTC would certainly go over $20,000. According to his new rough estimate, he sees Bitcoin’s price reaching around $22,000. He then returned to his original statement and said that it is not impossible for BTC to go as high up as $25,000 per coin by the end of the year.

He also made a point that, whether the price goes to $20,000 or it reaches $25,000, it will still be a 200% gain when compared to where the coin is today. According to his explanation, the mining cost of BTC, as well as its difficulty, are rising constantly. The cost is currently at $7,000, but he believes that it will reach $9,000 by the end of the year, which will, in turn, increase the coin’s price by 2.5 times.

If he is right, then the increase of the mining cost will effectively put Bitcoin’s end-year price to around $22,500 per coin.

The trend of price predictions

Despite the fact that Lee is very optimistic regarding the future of Bitcoin, his predictions are still relatively tame when compared to some other analysts have stated. or example, BitMEX exchange’s CEO, Arthur Hayes, has stated twice already that he predicts Bitcoin will hit $50,000. When he said this the first time, it was said somewhat jokingly, and nobody paid much attention to it back then.

However, Hayes has made the same claim for the second time, stating that Bitcoin has found its bottom at $6,000, after reaching $20,000 in the previous year. However, with positive regulatory decisions, it could easily climb back to $20,000 and even go beyond that to $50,000 by the end of the year.

Hayes’ statement definitely makes Lee’s stance much more realistic, but both of them are still quite modest in their predictions when compared to John McAfee. McAfee has become quite a well-known crypto enthusiast over the years, but his predictions have shocked even the most hardcore Bitcoin believers.

According to McAfee, Bitcoin is more than capable of reaching $1 million per coin by the end of 2020. He stated that his previous prediction included only half a million per coin, but that Bitcoin’s development has unexpectedly accelerated, which has led him to believe that the new 2020 price can, in fact, be $1 million per unit.

Not only that, but he also believes that Lee’s price prediction is incorrect and that old models used for predicting BTC’s behavior do not work anymore.

Despite McAfee’s reputation, a large part of the crypto community doesn’t see this prediction as legitimate, or even rational. Others, who may have done their own analysis, have stated that they are capable of seeing some truth in McAfee’s predictions.

The only thing to do now is to wait a couple of years and see where Bitcoin will be then, which will give us a definitive answer regarding who was right. Most likely it will be McAfee. He has proven time and time again to be ahead of everyone else.

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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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Basic Guide on How to Spend Bitcoin and Other Cryptocurrencies

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In recent years, Bitcoin and other cryptocurrencies have entered more into the mainstream. Most people walking down the street have at least heard of Bitcoin. While a lot of people got involved in the buying and selling of cryptocurrencies to try and make a quick buck, most people who are enthusiastic about the world of blockchain are in it for the long haul. 

These are usually the people who are going to be more likely to actually use their Bitcoin and other cryptocurrencies as a payment tool and not just as a storage of wealth or a trading tool. This guide looks at a few different ways in which you can use your Bitcoin in spending capacity. 

Crypto Debit Cards

Perhaps the easiest way for you to spend your cryptocurrency is by linking up your holdings to a debit card. 

These days, many of the leading card providers such as MasterCard and Visa have these types of crypto-linking debit cards. These cards can be used just like you would a normal debit card that is linked to your fiat currency bank account. 

Naturally, the most popular type of crypto debit card is going to be for Bitcoin, but there are other cryptocurrencies catered for also. 

Prepaid Cards

There…

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Hybrid Bitcoin Casinos or Bitcoin-Only Casinos – Which Are Better?

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The rise of cryptocurrencies over recent years has had an impact on several industries. Gambling is one such industry, and many of the best online casinos offer Bitcoin as a payment method

Some of these casinos work exclusively with cryptocurrencies, while some are more traditional gambling sites that simply have integrated crypto on top of their fiat options.

This post will take a look at the advantages of joining a Bitcoin-exclusive casino on the web versus picking a hybrid one.

Advantages of Hybrid Bitcoin Casinos

Let’s start with the hybrid Bitcoin casinos. Usually, those are traditional gambling platforms that have been around for a long period of time. 

They offer classic payment methods such as Visa, PayPal, Skrill, and similar. At some point, they decided to add Bitcoin and potentially other cryptocurrencies to their portfolio. 

If you decide to join an online casino of this type, you will be able to enjoy the following benefits.

Lower Risks

Such online casinos often have a strong reputation and are licensed by respected gambling commissions such as the UK Gambling Commission, the Malta Gaming Authority, and similar regulators.

They are known for protecting the customers and monitoring all actions…

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Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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