Connect with us

Bitcoin

Here Is the Path to $500k Bitcoin (BTC) According to Hedge Fund Manager Mark Yusko

Published

on

Bitcoin

Mark Yusko is a Bitcoin (BTC) bull and CEO of a hedge fund with $1.5 Billion in assets under management. He gives wonderful insights of the crypto markets on his Twitter page. Back in mid-April, he had twitted the following as to what he saw would be the price of value in the next 6 years. The Tweet is as follows:

So how did he get to $500,000?

Yusko explained that it was calculated using the underlying value to estimate what the network value is worth. The network value, according to Yusko, is calculated by taking the hash power of the network, and the number of participants and the amount of money that comes into the network. This is based on a model that was built a number of years ago that uses logarithmic exponential growth since this is how the network grows.

More on his $500,000 BTC price prediction

He is still sticking to his prediction of a $500,000 BTC value by the end of 2024. He stated that the markets have predictable parabolic moves or crashes:

“If you look at [Bitcoin price] history, you know there’s been five parabolic moves or crashes, and we’ll have a 6th, 7th, and 8th, and 9th, and it is just the way it works. So I don’t think you need a big event, and you’ve seen it in the past couple of weeks, right?”

Yusko also explained that there are people waiting for the dust to clear as to whether Bitcoin has bottomed out. He added that:

“Those people that have been waiting on the sidelines to make sure that the bear market is over are ready to jump in, and then once it actually starts moving, then it starts moving fast and that’s when you get those parabolic move.”

Mr. Yusko was also pessimistic that the pending CBOE ETF would be approved in August as everyone is hoping. He predicted some sort of disappointment with a market decline. But this will not last long. He stated that:

“So I think we get a little disappointment break after that and prices will fall again. We’ll have one last dip before the fourth quarter big rally and who knows where we end up but that is how I see things going.”

In conclusion, and using Mark Yusko’s prediction of a $25k Bitcoin by the end of the year, we can say that we are headed for exciting times in the second half of 2018. Fasten your seat-belts for it will be a thrilling ride.

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

Blockchain technology outshines Bitcoin and Gold during global pandemic

Published

on

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…

Continue Reading

Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

Published

on

Cryptocurrency

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…

Continue Reading

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

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…

Continue Reading

Press Release