Bitcoin Value Will Surge 500-1000 Percent By Next Halving: BTC Bull Barry Silbert

With a 220 percent year-to-date return, Bitcoin is still the best performing asset of 2019 in both the traditional and cryptocurrency markets, …
Bitcoin-Will-Surge-1000-Percent-By-Next-Halving-Barry-SilbertBitcoin-Will-Surge-1000-Percent-By-Next-Halving-Barry-Silbert

With a 220 percent year-to-date return, Bitcoin is still the best performing asset of 2019 in both the traditional and cryptocurrency markets, outperforming many others by a long mile. However even with this evidence, many are still quite unwilling to accept the sector’s advantages and still make speeches that disparage Bitcoin and the sector. In the past, more than a few naysayers have called crypto many different names. Some have called it a Ponzi scheme, a waste of time and recently, Kevin O’Leary described cryptocurrency as “non-compliant stuff” for “drug dealers.”

Perhaps the most used bullet shot at the sector is its volatility and up till today, many still bring up the bear market of 2018 especially because Bitcoin hit its all-time high a few months before the bear market started. With all of this much negative talk, Bitcoin is still shooting higher with its current year-to-date returns and adoption of the coin

Why This Much Success?

Even if you’re not entirely convinced that Bitcoin is the next best thing since sliced bread, you have to wonder how come the asset has achieved so much success. If you think about it, it’s difficult to believe all the people who are definitively convinced that bitcoin is a scam. At the moment, Bitcoin’s market cap is more than $207 billion and there’s still a lot more money coming in.

Furthermore, there’s much more recorded institutional investment in the number one coin and the crypto sector with these numbers constantly increasing. How can it still be a scam if real traditional companies are jumping in?

According to Barry Silbert, the CEO and Founder of digital currency group:

“If you look at the history of Bitcoin trading, there were 80% drawdowns in the price after all-time highs. Once the market got comfortable that the lows were in, they brought some excited enthusiasts and their money back into the asset class.”

Furthermore, Silbert spoke on possible reasons for Bitcoin’s increase. He mentioned certain factors that happen from time to time and a very good example is the economic tussle between the U.S. and China. As earlier stated, it is also true that there are a lot more investors, both institutional and individual, in the sector. Notable mentions here include Fidelity Investments, TD Ameritrade and Bakkt, with these firms making plans to attract more investments as 2019 continues.

The Upcoming Bitcoin Halving

Silbert also said “a lot of investors know that in 2020 there is a halving event” as part of the growth factors for Bitcoin and its investments. The Bitcoin halving is an event that takes place after every 210,000 blocks are mined which takes four years. The next one is set to take place in May 2020 and with this, block rewards for miners would be halved like it happens every four years.

This also directly means that there will be some scarcity for the coin and based on the regular laws of supply and demand, a reduction in supply almost always means a significant rise in value. Since it happens at every Bitcoin halving since inception in 2009, 2020 will not be any different. Silbert said:

“Each time that has happened in the past, the price of Bitcoin has gone by 500-1,000 percent afterward.”

Also adding that many investors are entering the sector in anticipation of the halving, he added

“I think there is definitely some buying happening right now.”

Before the next Bitcoin halving, the coin is expected to easily attract a lot more investment which, according to some analysts, could push the price all the way up to its previous all-time high of almost $20,000.

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BrewDog Vouches For Bitcoin, While FED Raises Concerns; What’s Next For The Bitcoin?

While, few private houses such as Cboe Global Market, Chicago Mercantile Exchange, etc., are offering the services to promote the digital assets, the …
BrewDog Vouches For Bitcoin, While FED Raises Concerns; What’s Next For The Bitcoin?

Bitcoin prices are again in the doldrums amid profit booking activities and event impact. The Bitcoin prices which reached the level of US$13,764 (Day’s high on 26th June 2019) previously, fell to the recent bottom level of US$10,961.0 on 2nd July 2019.

Post a decline of over 25 per cent in just a few trading sessions; the Bitcoin market again jolted the market participants over the high volatility in the digital assets market. To prevent against such high volatility, many new cryptocurrencies are knocking the market’s entrance. Cryptocurrencies such as Facebook’s Libra and Minasul’s coffecoin are all over the media.

However, currently, the digital market is witnessing ambivalent response from the private and government sector. While, few private houses such as Cboe Global Market, Chicago Mercantile Exchange, etc., are offering the services to promote the digital assets, the central banks and various global leaders are getting apprehensive over the development in the digital asset market.

The bitcoin market is not just witnessing a surge in the number of service providers; it is also noticing an increase in the acceptance as a mean of financial transaction among the private companies.

BrewDog and the Bitcoin:

BrewDog the United Kingdom-based multinational brewery recently decided to raise crowdfunding; however, this time the company decided to accept the Bitcoin. BrewDog launched its new beer- Cryponite: Intergalactic Liquid Currency.

Sponsored ad by Kalkine

In a Tweet, BrewDog mentioned that this would be alternative finance for alternative business.

Contrarian to the private sector acceptance, the United States Federal Reserve is concerned over the newly proposed cryptocurrency- Libra.

FED VS Facebook:

In a meeting at the House of Financial Services Committee in Washington, the FED chair Jerome Powell mentioned that proposed currency from Facebook could raise concerns related to privacy, money laundering, and financial stability.

On further taking down on the Bitcoin, the FED chair also mentioned that the Bitcoin is a speculative store of value and no one is using it for payments instead the market is using it more as an alternative to gold.

In his further statement to media, the FED chair mentioned that the committee is working on the Libra proposal.

Libra is gaining sharp criticism from the government, despite the fact that Libra is backed by Real Assets.

In a recent tweet, the United States president Donald Trump mentioned that he is not a big fan of the cryptocurrency, and there would be only one true currency in the United States, and that would be the United States Dollars.

The United States president further added to the criticism by mentioning that the cryptocurrencies value carries high volatility. The president also took a troll over Facebook’s Libra and said that Libra would have little standing and dependability.

Mr Trump tweeted further and said if the companies such as Facebook want to become a bank, they should follow the same banking regulations and must seek a new Banking Charter.

Recently, Bitcoin prices have taken a hit in the international market, and the prices of the digital asset recently reached a low of US$11,006.0 on Bitfinex (Day’s low on 11th July 2019).

However, the dollar plunge is currently providing mild support to the prices, and in today’s session, Bitcoin reached a high of US$11,510.0 (as on 12th July 2019 4:44 PM AEST).

Dollar Vs Bitcoin:

(Daily Chart BTC and DXY Source: Thomson Reuters)

On following the daily chart of Bitcoin and the Dollar Index, we can estimate that the Bitcoin prices take dollar movement into consideration, and both the assets establish a negative correlation. The upside in dollar prices exerts pressure on Bitcoin. The recent plunge in dollar supported the Bitcoin prices, and the prices reached a recent high of US$13,764.0. The low in the dollar is followed by a high in the Bitcoin prices.

Likewise, the current-dollar plunge is supporting the Bitcoin prices. The inverse correlation in the Bitcoin and the Dollar Index is marked by the pink circle (two small circles) in the chart shown above.

What’s Next for the Bitcoin?

(Daily Chart BTC Source: Thomson Reuters)

On a daily chart, the Bitcoin prices rose to mark a high of US$13,764.0 with high volumes. Post witnessing the top, the Bitcoin fell to the level of US$9,745.1 on 2nd July 2019, and then the prices inched up again.

However, the second up-rally ended at US$13,173.0 (Day’s high on 10th July), which was lower than the previous high level of US$13,764.0 (over 4 per cent lower), with lower volumes, which in turn, suggests that the bull strength is getting weak.

The price pattern could be forming a potential Double-Top (bearish pattern) on a daily chart. The neckline of this potential Double-Top is at the level of approx. US$9,546.17.

On following the simple moving averages (SMAs), we can notice that the prices are trading above the trio of 200,100, and 50-days SMAs. The 50-days SMA is at US$9708.36, which is near the neckline of the potential Double Top and could act as the support for the prices if the prices take a nose-dive further.

Investors should keep a close eye around the range of US$9730—US$9790 as this could be the short-term support for the prices. A break below the provided range or failure to do so would decide further prices actions in it.

On the technical counter, the 14-days Relative Strength Index, which is a leading indicator, is showing a bearish signal. The RSI is reverting from the over-bought levels, which, in turn, suggests that the Bitcoin prices are capable of taking a short-term price correction.

The trend across the volume is declining, which further favours the RSI indication of short-term price correction.

(Daily Chart BTC Source: Thomson Reuters)

On further following the daily chart and connecting the Fibonacci projections from the points marked as 0,1,2 on the chart shown above. The prices are currently at the 50.0 per cent level of the projected series, which is at US$11,051.45, investors should keep a close eye around the level as a break below it could take the prices toward its short-term support range of US$9,730—US$9,790.

The results of the series are as;

The 23.6 per cent of the projected level is at US$12,176.68, 38.2 per cent of the projected level is at US$11,554.39,50.0 per cent of the projected level is at US$11,051.45,61.8 per cent of the projected level is at US$10,548.51, and 100.0 per cent of the projected level is at US$8,920.35.

The plunge is Bitcoin prices and the sharp criticism the currency is pulling the ASX-listed blockchain software provider- DigitalX Limited down.

DigitalX Limited (ASX: DCC)

DCC is an Australian Securities Exchange listed software provider for Bitcoin trading and mining. The company engages with retail clients to provide Bitcoin mining and trading software. The operations of the company are divided into two segments of Software Development and Trading. The product portfolio of the company includes AirPocket- a short message service based international mobile bill payments platform, and the product portfolio of the company also cater the institutional investors through its DigitalX Direct- a business-to-business platform, which provides institutional investors liquidity.

Share Price Actions:

The share prices of the company are moving in a downtrend from the level of A$0.440 (Day’s high on 10th January 2019) to the present level of A$0.042. The stock ended the day’s session today on ASX at A$0.042, down by 2.326 per cent as compared to its previous close.

Return Profile:

The stock delivered a yearly return of -49.41 per cent, and the YTD returns of DCC stand at -17.31 per cent (as per the yesterday’s closing).


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Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’sThose phrases have become increasingly common as marijuana legalization spreads.

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Digital Assets Will Cause Millennials To Dump Gold For Bitcoin- Barry Silbert

Barry also founded and is the CEO of Digital Currency Group, a global enterprise building, supporting and investing in over 140 companies across the …

Popular Bitcoin enthusiast and crypto investor, Barry Silbert, during an interview with Inside the Icehouse earlier Thursday, has expressed his opinions about world gold reserves and how Bitcoin would come to replace fiat and many other popular assets including Gold in years to come.

Barry, The Crypto King

Barry Silbert, known by some as “the crypto king” is the Founder and CEO of Grayscale Investments LLC, the parent company of Grayscale bitcoin trust.

Barry also founded and is the CEO of Digital Currency Group, a global enterprise building, supporting and investing in over 140 companies across the globe including Coinbase and Ripple.

New York Fed, World’s Gold Largest Depository

Speaking on the world’s gold reserve as a store of national value for countries and how these countries might need the bitcoin alternative in the future, the Federal Reserve Bank of New York was made a major point of reference.

For the records, the Federal Reserve Bank of New York is the largest depository of monetary gold. Sitting on around 497,000 gold bars with a total weight of 6190 tons buried 50ft below sea level, the New York Fed acts as gold custodian for account holders like the U.S. and the governments of other countries.

Gold Slowly Declining In Availability

According to the report, the history of this enormous gold city dates back to World War II when most countries sought a safe place to store their gold. As of 1937, the mass of gold present at this location was more than 12,000 tons, an amount twice as much as the present reserve. As this world gold reserve continue to decline slowly, more declination is expected to come in years. This then begged the question of what would replace this reserve when all the gold storage is out!

XAU/USD Performance

Recently, gold caught a bullish trend in the stock exchanges and this caused quite a roar as to which was better when compared to bitcoin. Several arguments were put forward along the lines of availability, volatility, acceptability and monetary value. While some bitcoin pessimists maintained that bitcoin was too volatile as a medium of exchange and therefore not a typical currency, bitcoin backers countered by arguing the security, ease of movements and returns on investments side of the story. This was on for some time.

Bitcoin’s Adventure

Bitcoin too has been bullish for a while after its bearish season of 2018. Although not much happened as to touching its all-time high, it touched a significant $13k USD price in June, a point many thought bitcoin would never rise to again!

Bitcoin Is Readily Available With Fixed Total Supply

However, Barry’s point of view remains understandable and quite straightforward. Bitcoin is definite in supply, easy to transact, readily available and secure(as long as a user stores private keys securely). This relative properties of bitcoin to gold would account for much availability of bitcoin against gold in coming years. Also, as against gold, the total supply of the world bitcoin is certain and increasing value is highly speculated. According to Barry, this would make for a good asset useful as a store of national value in the long run.

Bitcoin Taking Over

Barry, in his opinion on bitcoin taking over fiat and even gold, said there would be no more fiat in years to come and few countries have already recognized the truth. Countries like Venezuela and China are looking into developing national cryptocurrencies in preparation for the crypto revolution. Others will follow the trend too, according to Barry.

It is clear that cryptocurrencies are here to stay as an asset class… It is clear that Money is going digital. It is clear that, in the future, physical cash is gonna go away… You know, from history over 500 years, the average life of fiat currencies is 27 years…

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Digital Assets Will Cause Millennials To Dump Gold For Bitcoin- Barry Silbert
Article Name
Digital Assets Will Cause Millennials To Dump Gold For Bitcoin- Barry Silbert
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Popular Bitcoin enthusiast and crypto investor, Barry Silbert, during an interview with Inside the Icehouse earlier Thursday, has expressed his opinions about world gold reserves and how Bitcoin would come to replace fiat and many other popular assets including Gold in years to come.
Author
Dare Shonubi
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Coingape
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DisclaimerThe presented content may include the personal opinion ofthe author and is subject to market condition.Do your market research before investing in cryptocurrencies.The author or the publication does not hold any responsibilityfor your personal financial loss.
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More trouble in the air for Bitcoin SV {BSV} creator who claims to be “Satoshi Nakamoto”

Currently, Bitcoin SV is ranked at #9 on coinmarketcap. The price of BSV is $160.11. A drop of 2.98% was noted in the course of the past 24-hours.

Currently, Bitcoin SV is ranked at #9 on coinmarketcap. The price of BSV is $160.11. A drop of 2.98% was noted in the course of the past 24-hours. The circulating supply involves 17,854,986 BSV tokens.

The trading volume recorded is $365.697 million. The total market cap of Bitcoin SV is $2.858 billion. Throughout his life, Craig Wright the founder of BSV has claimed to be responsible for a few inventions: the structure of Lasseter’s Online, being the co-author of the Bitcoin whitepaper, and so on.


However, most people around the world look at him as a “scam artist”. In fact, his nickname is “Fake Satoshi”.

This was tweeted by one of his naysayers, which amount to thousands across the globe:

Following https://t.co/jszUBQhGCb there is another one…but it’s the worst word, the one which begins with a C.

****.com

— Peter McCormack (@PeterMcCormack) July 5, 2019

After the news of loser.com linking to Craig Steven Wright’s Wiki page went viral, he has since been the subject of embarrassing leaks. This was undoubtedly the work of a true Bitcoin[BTC] supporter who absolutely detests a human being taking credit for someone else’s work.

In fact, most people other than die-hard BSV supporters look at him as nothing more than a scam artist. He is set to attend Vaudeville.

C***.com is truly hilarious. A few years back, the great BBC news network and the Wall Street Journal had done stories on this fraudulent individual. He was a primary reason why the hard fork occurred for the Bitcoin Cash network.

He wished to get Bitcoin whitepaper copyrighted to him. He has been accused of submitting “false evidence” and has committed perjury as well. The relatives of David Kleiman state that Craig had cheated them of thousands of dollars.

Don’t believe the hype created by a man whose only achievement in the field of blockchain is an utterly false claim of him being the original Satoshi Nakamoto. He will surely lose the cases piling up against him.

About Post Author

Aditya Chatterjee

A specialist in comics and cryptocurrencies; with a desire to be a seasoned trader in the near future. Analyzing candlestick charts is a personal hobby.


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Binance: 10K Margin Traders Borrow USD 15M; BNB Jumps on Burn News

Instead, he said, all tokens allocated to the team from the initial coin offering (ICO) back in 2017 “will be burned.” “The team will burn their own tokens …
Binance: 10K Margin Traders Borrow USD 15M; BNB Jumps on Burn News 101
Source: Twitter

More than 10,000 people signed up on “yesterday alone” for the Binance’s new margin trading account, which makes up more than USD 15 million borrowed for margin trading, CEO of Binance Changpeng Zhao said during a livestream today. The company has also announced a major Binance coin (BNB) burn, which sent the price of the coin up.

As reported, Binance’s new margin trading product allows for leverage of up to 1:3, meaning that for every 1 bitcoin deposited as collateral in a margin wallet, 2 more bitcoins can be borrowed from the exchange to trade with.

Answering a question from a Twitter user, CZ confirmed that futures trading is also coming up soon, saying “we aim to begin public testing of the futures platform towards the end of July.”

According to the CEO, the company will first release “a simulation market so people can get comfortable with it.” This will roughly reflect the real market price of the underlying bitcoin or other crypto assets, and will launch in 10 to 20 days, he said.

1xBit

Futures contracts on bitcoin and other cryptocurrencies are expected to be available with significantly higher leverage than the current margin trading product allows for, and are therefore highly anticipated by many crypto traders.

Half of BNB “will be burned”

The CEO also revealed that the Binance team “will not spend a penny” of its allocation of BNB tokens. Instead, he said, all tokens allocated to the team from the initial coin offering (ICO) back in 2017 “will be burned.”

“The team will burn their own tokens first. All US$2,400,000,000 of it!” according to the CEO.

As is common among ICO projects, the Binance team originally had a portion of the total supply of BNB tokens allocated to themselves. In the case of the BNB token, this made up 40% of the total token supply. Now, however, the CEO says that the team “unanimously” agreed to burn all of their tokens.

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According to the CEO, this means that half of the total supply of BNB tokens, or almost 100 million BNB tokens, will be burned. “Basically, the team gets nothing from the ICO. All the team BNB that we have now are earned through our services or bought with our money,” he said.

“This shows that the Binance team is here for a mission. We’re not here for money,” he said.

BNB jumped following the announcement and is up by more than 7% in the past 24 hours (06:07 UTC).

BNB price chart:

Binance: 10K Margin Traders Borrow USD 15M; BNB Jumps on Burn News 102
Source: coinpaprika.com

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