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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

Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving
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In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on…

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IE Option – 91% Profit on BTC Fluctuations in Every 60s

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On Thursday, Bitcoin price broke below $6,700 and hit the weekly low to $6,480. Then, it rebounded back above $7,000 again with an increasing rate of 5%. At press time, based on the incomplete statistics, more than $720 million worth cryptocurrency futures contracts have been liquidated in this week. During the strong market fluctuation, investors are learning a hard lesson about the downside of cryptocurrency futures trading with leverage. 

Since we know that we cannot make money by investing in BTC spot trade during the bear market, and we notice the high risks of liquidation by trading leveraged bitcoin futures contracts, how can we hedge the loss in spot trade and profit from the BTC market volatility? 

BTC Option is a profitable trading product that you can turn to!

What is Option?

Option is a type of crypto derivative contract which enables investors to make speculative bet on price rising and falling. Call option means that trader long BTC at a given strike price, while Put option allows trader to short BTC at a given strike price. 

For example, if you predict that BTC price may surge, you can buy a call option. Suppose that you buy a call option at $7,000. As long as price exceeds $7,000, you can make profit. 

IE Option – Get…

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4 things you should know about bitcoin casinos

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Bitcoin casinos
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Bitcoin Casinos are the ideas of innovation, firmly moving towards the goal of disrupting the whole Gambling Industry. Best Bitcoin Casinos are the true trailblazers of the new era of gambling. Their creators quickly recognized all the immense potential that blockchain and cryptocurrencies contained within themselves. Most of the top Crypto Casinos started operating in the first half of the past decade and are quickly moving towards being the dominant force, when it comes to online gambling. There are a couple of key characteristics and advantages that elevate BTC Casinos above the rest of the competition on the market.  

Trusted casinos have fast withdrawals

Only the Best Bitcoin Casinos offer players the benefits that come with using cryptocurrencies as the main source of finance. One of the biggest advantages that BTC Casinos have over the rest of the competition is speed. When using cryptocurrencies, players can deposit and most importantly withdraw their money with blistering speeds. Thanks to blockchain technology, all the financial transactions are completed within the minutes of request. Alternatively, standard online casinos operating under the guidance of classical banking intuitions, need several days to complete the same procedures.

In BTC Casinos anonymity matters 

Another amazing benefit of Bitcoin Casinos is the ability to stay completely anonymous during the transactions and gameplay. Thanks to the…

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