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

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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.

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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

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

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The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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