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This Major Crypto Exchange CEO Says Its Foolish To Ignore Bitcoin (BTC) - Global Coin Report
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This Major Crypto Exchange CEO Says Its Foolish To Ignore Bitcoin (BTC)

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The slide in the value of the cryptocurrency markets seems to have settled at the current levels of $253 Billion and at the moment of writing this. Bitcoin (BTC), the King of Crypto, is holding its own at levels above $6,000 and is currently trading at $6,084. Many traders have kept asking if this is the end of Bitcoin, but some experts believe that this is a normal cycle in any trading arena. There is always a decline in value after an impressive rally in any markets. We had one such rally back in December into January. We are in the decline phase. Then there is sure to be another rally sometime soon.

It is with this history of Bitcoin and the crypto markets, that the current co-CEO and co-founder of the revolutionary trading app known as Robinhood, Vlad Tenev, says that Bitcoin has significant staying power. What he means by this, is that Bitcoin is not going anywhere.

Vlad Tenev would later add the following during an interview at the CB Insights’ Future of Fintech conference:

“It’s very foolish to say bitcoin is done.” 

Further investigating his thoughts on Bitcoin, and looking back at BTC values exactly one year ago, we find that the digital asset was valued at around $2,650 in June 2017. Doing the math, the current values of $6,084 are a cool 130% higher than what we had a year ago. This is an amazing feat that can only happen in the crypto markets. In the regular stock markets, an asset that does 25% in a year, is celebrated to a level higher than an Olympic gold medalist.

Going back a bit further in the archives and during the Mt. Gox hack of 2013, we find that BTC fell from levels of $1,100 in December 2013, to $300 levels within a year. This is a significant drop in the value of up to 73%. Bitcoin did not recover to the values of $1,100 until around February 2017. It took over 3 years for these levels to be reached once again. Reflecting on this dark period of BTC, we can conclude that the crypto markets will be alright.

Bringing it all together, Bitcoin and the entire cryptocurrency markets are currently going through tough times due to regulatory headaches. Once that hurdle is out of the way with the countries of Japan, South Korea, Russia and the USA giving clear regulatory direction, then the crypto markets will surely take off to the tunes of being valued at levels higher than the predicted $20 Trillion.

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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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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…

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