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Bitcoin will continue appreciating, although at a slower pace than in the past, Bloomberg analyst explains

Mike McGlone, Senior Commodity Strategist at Bloomberg, is convinced Bitcoin will continue to appreciate thanks to its fixed supply coupled with increasing demand. “I don't see what make it stop doing what been doing for the last 10 years. And that's going up”, he told Cointelegraph in a recent interview. McGlone sees Bitcoin’s capped supply as the main feature. He said that this potentially makes it a better store of value than gold,...

Brazil Could be New ‘Demand Source’ for Bitcoin

Bitcoin’s year-to-date performance compared to the Brazilian Real coupled with the country’s financial woes may help drive demand towards the cryptocurrency.According to a new report released May 11 by Delphi Digital titled “The State of Bitcoin”, Brazil’s central bank lowering its interest rates to 3% and the fact the Real had lost 30% of its value relative to the U.S. dollar could drive away investors “who find the risk-reward tradeoff no longer attractive”...

3 Reasons Some Top Traders Expect Bitcoin Price to Hit $15K in Q3 2020

The Bitcoin (BTC) price surpassed $10,000 on Thursday, completing a V-shape recovery from its fall to $3,600 back in March. Traders believe that the rally is just beginning for the top-ranked cryptocurrency by market capitalization as a confluence of positive factors is fueling the uptrend.Purely based on technicals, analysts anticipate the Bitcoin price to rise as high as $15,000 by the third quarter of 2020. Historically, $10,000 acted as a psychological level for...

BTC Will ‘Come of Age’ in Crisis, May Top All Time High

Pantera Capital Founder and CEO Dan Morehead has predicted Bitcoin will “come of age” during the 2020 financial crisis and may top its all time high price within 12 months.The San Francisco-based blockchain and cryptocurrency hedge fund founder made the comments in a March 25 letter to investors examining the fallout from the COVID-19 financial crisis.Morehead offered a grim prediction for the economy and said he believes the global economy is about...

Chainalysis Says Bitcoin Price Stable for now, but Future Uncertain

Chainalysis posted their report for the BTC market for March 2020. According to the blockchain and crypto analytics firm, exchanges have experienced a huge inflow of BTC since March 9, receiving nearly 319,000 of the cryptocurrency on March 13 alone. However, between March 12-13, almost nine times the average daily amount of Bitcoin was sent to exchanges to be sold, causing the price to plummet to $3,000s. This represented BTC’s biggest daily drop...

Bitcoin, Not Governments Will Save the World After Crisis, Tim Draper Says

Amid some notable recovery of Bitcoin (BTC) after a number of subsequent market crashes last week, billionaire investor Tim Draper delivered another optimistic forecast about Bitcoin.In a March 16 interview with 415 Stories podcast, Draper outlined decentralization powered by Bitcoin and other new technologies as a major tool that has the “ability to transform the biggest industries in the world.”“It will be Bitcoin, not banks and governments that save the day”According to...

Bitcoin Bottomed in ‘Final Capitulation’ but $5K Dip Likely: Tone Vays

Bitcoin (BTC) likely bottomed when it hit $3,700 this week but will likely dive below $5,000 one more time, says Tone Vays.In the latest edition of his Trading Bitcoin YouTube series on March 13, the veteran trader described the week of mayhem for Bitcoin which culminated in 60% daily losses as the capitulation he’s been waiting for.Vays: “All signs point to final capitulation”Introducing the episode on Twitter, he summarized:“All Signs Point to...

Bitcoin Under $1K is Possible Warns Veteran Trader Peter Brandt

Bitcoin dipped below $4000 today, for the first time since the depths of crypto winter — and one veteran market analyst believes it could have even further to fall.Crypto markets have been in freefall following the announcement of travel bans yesterday between the U.S. and Europe, and ongoing volatility in all financial markets. Veteran trader Peter Brandt — who is famous for correctly predicting the market crash from the all time high — today...

Coinbase CEO Explains How Crypto Will Go from 50 Million to 5 Billion Users

Brian Armstrong, the CEO of major cryptocurrency exchange Coinbase, explained what developments he believes will drive the growth of cryptocurrency’s’ user base.In a series of tweets on March 4, Armstrong illustrated how the developments that resulted in the mass adoption of the internet are similar to the work that is currently being done on cryptocurrencies. While he admitted that it is not clear which blockchain “will help get crypto from ~50M users...

Bitcoin Hitting $135K This Bull Cycle Is ‘Common Sense’ — Willy Woo

Bitcoin (BTC) is heading to at least $100,000 during the bull cycle which has already begun, one of the industry’s best-known analysts has confirmed.Speaking to RT financial news show the Keiser Report on March 3, Willy Woo said that described BTC/USD hitting $135,000 as a “common-sense prediction.”Woo to Keiser: BTC could soon clinch $250KWoo highlighted the cumulative average Bitcoin price as a particularly effective metric for forecasting future gains. “You go could 35...
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