Connect with us

Bitcoin

Here Are More Ways for $50k Bitcoin (BTC) by End 0f 2018 and $500k before 2024

Published

on

Bitcoin

Bitcoin (BTC) price predictions are being offered from all over the crypto-verse. We have prominent investment analysts on Twitter giving their predictions as well as other forms of traditional media such as interviews. One such price prediction is for a $25,000 Bitcoin by the end of the year by Mark Yusko: a hedge fund manager with $1.5 Billion in assets under his watch. Yusko has also put forth a BTC price prediction of $500,000 by end of 2024.

According to him, the reason for these price predictions is based on the fact that the market performance of Bitcoin follows parabolic moves or crashes. There have been 5 so far and more will obviously come. There is also the fact that many traders are on the sidelines waiting for the Bitcoin Bull run to be confirmed, then they can jump in.

There is also the $50k Bitcoin prediction by Anthony Pampliano that BTC will get to $50k by end of the year. The major reason he gave for this, is human psychology. According to him $50k is a good round number that traders want and they will drive it to that point.

Tim Draper has put forth his $250,000 price prediction by 2022. His reason for this bold prediction is that BTC is gaining popularity and will continue to do so in the next 4 years.

So what are the other reasons for a $50k BTC by the end of 2018 and $500k by 2024?

Both price predictions by Yusko and Pampliano had not factored in the possibilities of a Bitcoin ETF being approved by the SEC. The due date for a verdict on the CBOE ETF is sometime in mid-August. However, many experts believe it will be postponed; which is alright. So long as it is not a rejection like the Bats ETF.

The SEC is actually being swamped by new Bitcoin ETF applications by various trading firms. A screenshot of the number of pending ETFs can be found below.

Source, Bloomberg and SEC.gov

The SEC at one point will have to approve one of these ETFs even if it is not the one sponsored by the CBOE. There are under a lot of pressure from not only the trading firms listed but the general public. With regards to the latter, the SEC actually allows the public to comment on filed applications on their website. The CBOE filing has received overwhelming comments as can be seen on this link. The SEC cannot ignore the sentiments of the public.

If the CBOE is approved, we can see Bitcoin doing gains as was seen with Gold when its ETFs were first offered in March 2003. Eight years later, the value of Gold had increased by a factor of 5.41 as earlier calculated. Comparing this to Bitcoin (BTC), and using a base value of $10,000 when the ETF gets approved in the future, we see that by the end of 2018, we could get to $54,100. In 4 years, this figure would have probably done more gains and past Mark Yusko’s price prediction of $500k.

In conclusion, the crypto-markets are on the cusp of something great with the resurgence of Bitcoin in the markets as well as several pending ETFs. Adding the factor of people psychology earlier mentioned, and seen in the comments to the CBOE ETF on the SEC website, we get the possibilities of a far bigger value of BTC than the ones predicted of $50k by end year and $500k by 2024.

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

Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

Published

on

Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

Continue Reading

Altcoins

GDA Capital in Conversation About the Future of Digital Assets at Global Family Office Summit

Published

on

GDA Capital organized the quarterly Global Family Office Summit this week. The event was held virtually with a number of technology leaders and high net worth investors who discussed issues such as education, trust and responsibility to give back. Among these were insightful conversations with Dubai-based Dalma Capital’s CEO Zachari Cefaratti, Holt Fintech Accelerator founder Brendan Hold Dunn, Global Data Sentinel CEO and White City Ventures Chairman of the Board Shahal Khan, and Elitium CEO Raoul Milhado, among others. Participants were also given access to off-market opportunities to invest in novel technologies.

Will Bartlett, GDA Capital’s Director of Research, headlined the event by focusing on tech in the modern economy, and identifying six sectors where new technologies can make a lasting impact: robotics, space, biotech, machine learning, quantum computing, and blockchain. In the context of blockchain, he discussed how digital assets are a hedge against traditional financial markets. “Cryptocurrencies have no exposure to stock market returns, macroeconomic factors, or returns of currencies and commodities,” Bartlett said.

More so, Bartlett believes that new models for digital assets such as DigitalBits’ branded stablecoins are key to the development of the field. These currencies replace traditional rewards and loyalty point systems that are commonly used by household brands by porting them to the blockchain. Meanwhile, they rely on brand…

Continue Reading

Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

Published

on

TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

Continue Reading

Press Release