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‘The Bitcoin (BTC) Bull Market IS Coming,’ Reassures John McAfee

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In the words of John McAfee, the price of Bitcoin (BTC) has increased by more than $1,000 in one week. Many have speculated if this could be the beginning of the much anticipated Bitcoin Bull market. Others have labeled it as another Bull trap. We have been victims of Bull traps before and we have celebrated an increment in the value of BTC, only to see it once again decline in front of our eyes. We have even speculated the possibility of Bitcoin manipulation.

But John McAfee reassures us that the Bitcoin Bull market IS coming in the following tweet.

McAfee is right in that on Sunday, the price of BTC was hovering around the $6,400 mark. Three days later, on the 18th of July, the same BTC is currently trading at $7,444 and looks like it will continue gaining into the weekend. In the last 24 hours, BTC has gained by an incredible 10%.

So how will the BTC volume be maintained in the markets to guarantee a Bull run?

Historically speaking, and looking at the price of Bitcoin at exactly one year ago, we find that BTC was valued at around $2,500 last July. This price would gradually increase as the months passed and as we approached the holiday season last year. Around Thanksgiving last year, BTC was valued at $10,000 indicating a percentage increase of 300% from July levels. Taking this figure of 300%, we can, therefore, predict that by the time we get to Thanksgiving this year, BTC will be valued at around $29,600 (7,400 x 300% + 7,400).

The price of BTC would then peak to $20,000 on December 17th right before BTC Futures started being offered by the CME Group and the CBOE.

The only similar event that could make BTC pump that hard, is the current BTC ETF filing by the CBOE at the SEC. The final verdict should be out by the end of August. Some crypto enthusiasts had initially predicted that we’d know by the 10th of August with others saying that it will not be on the 10th.

So, will BTC continue to gain 10% daily till mid-August?

10% gains per day is a massive increment in value. This has never been seen before in the crypto markets. Let us say that the SEC will announce the Bitcoin ETF verdict in 30 days. If BTC were to increase by 10% daily till then and using simple interest, we get a value equal to the one estimated for Thanksgiving this year: $29,600.

in conclusion, anything is possible in the crypto-markets. Therefore, let us sit back, relax, and enjoy the ride! John McAfee has reassured us that the Bitcoin Bull run is coming and that BTC could get to $1 Million by the end of 2020.

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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

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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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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