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The Best Time to Buy Bitcoin (BTC) Approaches - Global Coin Report
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The Best Time to Buy Bitcoin (BTC) Approaches

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Ever since 2019 started, the bear market of 2018 has been losing momentum, with the bulls emerging numerous times in short intervals. This was the beginning of a crypto recovery, which still has quite a long way to go.

However, last week, Bitcoin saw massive growth in transactions, reaching a 14-month high. These were the levels that were previously seen back in 2017, as BTC approached its highest point in terms of price. The growth also reflected strongly on BTC price, which spiked yesterday from around $4.100 to the current $4,672.

Meanwhile, Bitcoin market cap followed as well, currently sitting above $82.3 billion, while the trading volume exceeded $14.5 billion.

What caused the growth?

While this is an exceptional growth, and potentially a start of the bull run that everyone was waiting for, it did not come without a cause. One of the reasons why BTC surged was last week’s Weiss Ratings report of multiple different cryptocurrencies. The report’s authors even stated themselves that the best time to invest might be very near at this point.

Weiss Ratings has done reports about specific coins in the past as well, and this time, they noticed a significant improvement in coins’ performance. The report mentions growth in user transaction volume, network capacity, as well as network security, which the authors took as an improvement coming from the evolution of the underlying technology.

The report has certainly had an impact on Bitcoin’s performance, and the coin’s network recorded a massive boost in recorded transactions, which grew to 383,186 on March 27th. Bitcoin did not have that many transactions per day since January 4th, 2018 — right before the market crashed. At the time, Bitcoin’s value was still lower than its all-time high, being at around $17,000.

Now, the transaction volume has surged to the same limits, which is taken as a strong fundamental indicator of growth. This is important, as it shows that Bitcoin is once again actively used. The surge in price did not follow immediately, as mentioned, and the long-awaited surge started only yesterday, April 1st.

Of course, even after the spike up, the price is still nowhere near the levels it had in early January 2018. However, it is certainly a start, and it allowed the coin to separate from its major support level at $4,000. This is the first time BTC had reached these heights from mid-November when the BCH hard fork caused a market crash. The community’s greatest hope right now is that it will continue to grow, and potentially reach the pre-crash levels.

Meanwhile, the growth in transaction volume (as well as price) indicates that the infamous crypto winter might finally be over. Bitcoin broke the string of monthly losses even earlier this year, back in February, when a series of small bull runs took the coin just below the $4,000 mark. This level acted as a resistance for a long period, but it finally gave in back in early March. It became just as strong a support on occasion, and it held ever since.

The main question now is where is Bitcoin going from here? While many assume that this is a temporary thing (which coincidentally started on April 1st), there is still hope that the surge is real and that it will continue on. ThinkMarketsUK’s Chief Market Analyst has been very bullish on Bitcoin in his recent statement, saying that the coin might surge past $100,000. This comes as part of his prediction that the price of BTC will go 5x higher than in 2017. However, that is not the end, as he also believes that BTC might reach the height of $400,000 per coin.

While very unlikely to happen in 2019, this might be a reality in several years. For now, the investors are pleased to see Bitcoin price surge yet again, and many have turned to invest before the coin skyrockets once again.

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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

Why Bitcoin (BTC) Revival is Likely to Continue

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The cryptocurrency market has been doing rather well in 2019 — certainly much better than in 2018. More than a year ago, the market crashed from its all-time high, and in the months that followed, it lost over 80% of its market cap. Bitcoin (BTC), as the leading digital currency, also dropped from $20,000 per coin to barely $3,200 in 2018.

These days, however, the situation seems to be turning, with digital currencies seeing significant growth in prices ever since mid-February. While January stopped the drops, February is the month when the market once again started seeing gains, and this kind of behavior has continued to this day. But, what does this mean for the future? Is this a passing trend, or is the crypto winter truly over?

The revival of Bitcoin

Questions such as the short-term future of Bitcoin are on many traders’ and investors’ minds right now and have been ever since the prices started growing again. A well-known Futures Now trader, Jim Iuorio, recently stated that Bitcoin would start seeing massive profits if it surpasses the price of $4,045. That was, of course, before the coin surged by around $1000 in the last week.

However, Iuorio’s prediction was that BTC is unlikely to go below $3,820, while the growth beyond $4,045 would mean massive gains for those involved with the industry. Soon after this prediction…

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How to Become a Millionaire without Risking Everything with Bitcoin

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It’s been well over a year since the crypto market reached its peak and then crashed, dropping to such lows that most of the coins lost anywhere between 80% and 95% of their value. A few of them lost even more. Of course, this was not enough to eradicate the crypto market, and the bulls are still as optimistic as ever, especially these days, when Bitcoin price surges again, taking the rest of the market with it.

Some predictions claim that Bitcoin will reach its own glory days within a year or two, and there are even speculations that the largest cryptocurrency might spike up to $100,000 per coin. One claim from last week even sees BTC hitting $400,000, as the highest price which someone was brave enough to predict.

While it is certainly possible — at this point, pretty much anything is — not everyone is willing to take such a gamble and invest their hard-earned money into a risky asset such as digital currencies. With that in mind, here are three alternatives that are considerably safer than Bitcoin and the altcoins.

1. Investing and re-investing in stocks

A lot of people — especially younger generations — find stocks to be incredibly boring. Most of the time, all you do is invest, and use the returns for re-investing in high-yielding shares. However, while boring will not…

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SEC Announces Another Bitcoin ETF Delay

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The question of Bitcoin ETF still remains in the air, as the US Securities and Exchange Commission (SEC) announces another delay. The regulator has been receiving crypto ETF applications for a long time now, and while most of them were rejected, several requests received high amounts of praise and attention.

The regulator was expected to finally reach the decision regarding one such proposal, submitted by the San Francisco-based asset manager, Bitwise, by tomorrow, April 2nd. However, the SEC recently announced that the decision will be postponed yet again. As things are now, Bitwise’s proposal will be considered once again in mid-May 2019.

Bitwise application sees another delay

In many ways, Bitwise application was similar to many others, asking permission for operating ETFs which would be backed by Bitwise Bitcoin Total Return Index. According to the company, the index would allow investors to tap the largest crypto asset in the world. Not only that, but it would also include all of Bitcoin’s largest hard forks.

The company’s proposal also implies that the assets would be 100% secure and that they would be held by a regulated, institutional third party, acting as a custodian. Meanwhile, the index would be based on prices listed on various digital currency exchanges.

However, the SEC is either unsure of the proposal, or it wishes to delay the decision for some other reason.

The SEC…

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