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The crypto market is yet to start the much expected bull run. The digital currencies in the market are still deep in the red. Bitcoin (BTC) is still to recover, and is still struggling to break over the $ 4,000 level. The digital currency recently broke the key psychological levels of $ 6,000 and $ 5,000. The value of the coin is now eyeing the $ 3,000 mark.
The value of Ethereum (ETH) is one of the most discouraging in the market. I think the glory days are long gone. Ethereum (ETH) traded close to the $ 1,500 in December last year. Nevertheless, the digital currency is now reduced by more than 90 percent from its all-time high. Ethereum is now trading below the $ 110 mark at the press time.
According to Forbes, the co-founder of BTC China – Bobby Lee – no longer into the use of cases of blockchain technology outside the world of Bitcoin. The DLT (Distributed ledger Technology) is the main deal that is more likely to transform our lives. No doubt, the government also used this technology for a lot of pilots.
For instance, blockchain technology is used for land registry in Georgia. This has greatly reduced the time, as well as the cost of registering a property. Many governments, all over the world, have adopted this technology for one thing or the other.
Another Bitcoin (BTC) Whale Moves Over $ 250 Million Worth of Bitcoin (BTC)
A big Bitcoin (BTC) was recently spotted in the crypto verse. Bitcoin (BTC) worth over $ 250 million. Bitcoin address. A move of such magnitude could have a huge effect on the value of the digital currency.
Nevertheless, orders of this nature do not go through normal trading platforms. This would greatly disrupt the price of the coin in the market. Hence, they adopted another route in the movement of the fund.
Bitcoin (BTC) is yet to start a major bullish run. A lot of investors and traders are patiently waiting for the sharp recovery of the crypto market. However, no one knows how huge the next recovery would be and when it would be.
Will bitcoin recover? Bitcoin is currently sitting in votum in the market, though it is hard to predict how investors will react to the recent events.
It is hard to see prices after the most recent hack, though bitcoin's notorious volatility makes it impossible to predict.
Bitcoin Price Today USD Live: Bitcoin (BTC) Price Today / USD
Bitcoin Price Prediction 2019
In a statement after the hack, Bithumb said: "We checked that some of the cryptocurrencies valued about $ 30,000,000 were stolen. These stolen cryptocurrencies will be covered by Bithumb and all of the assets are being transferred to a cold wallet.
Bitcoin Price Today
The last month of 2018 has started and BTC is still on its downtrend. The main reason what the crypto folks are pointing out to be a green light from the SEC on the BTC ETF. But, 2019 is what the crypto enthusiasts are looking forward to. Even the second largest stock exchange in the world will be launching Bitcoin futures in the first half of 2019. Bakkt is going to get introduced.
The government has become a member of the tax office. This is just a glimpse of the adoption rate going higher and higher.
Why Bitcoin Price Is Changing So Fast?
In 2017, Bitcoin's value is soared from $ 1,000 to just under $ 20,000 before dropping down to around $ 13,000 at the end of the year. Since then, it's value has risen and fallen from it to day, dragging smaller cryptocurrencies like Ether and Ripple along with it.
If you're new to cryptocurrencies, but if you take a closer look it starts to make sense. Here's why Bitcoin's price keeps changing so drastically, and why it's getting more stable in the future.
Reasons of Price Changes in Bitcoins: Popularity and Regulations
The first, individual owners have less power over the price of Bitcoin, and, second, it has been established as stakeholders in the cryptocurrency. Bitcoin. In the short term, in the future it could help to calm down speculation and drive out the types of sketchy Bitcoin-related business that threatened to drag down the entire concept of cryptocurrencies.
Bitcoin prediction: Cryptocurrency price WILL rise despite fears of collapse
Bitcoin has been the top-performing currency in the world.
BITCOIN'S price will rise again, investors have predicted, amid fears of a cryptocurrency collapse after the digital currency and its rivals saw values plummet.
But despite the fall and fears the bitcoin bubble has burst, the crypto investors suggest cryptocurrencies could surge. Francesco Nazari Fusetti, CEO of AidCoin, which allows individuals to track their donations thanks to the blockchain technology said: "At present, in the cryptocurrency market could, of course, be better, however, the sharp correction that we see now is nowhere near collapse.
"The drop in price is actually beneficial for the industry, as investors and cryptocurrency enthusiasts will be more incentivized to educate themselves about the space. In the turn, limit fear surrounding further price drops, as this is the nature of the volatile cryptocurrency market. "The recent drop in prices and uncertainty in the current market is heavily influenced by a mix of an unfavorable news cycle and speculation fueled by the media. "
Gabriele Giancola, CEO and Co-Founder of Qiibee, a blockchain based loyalty ecosystem said: "South Korea has had an impact on the current market and price situation, but we have seen prices plummet previously and the market tends to rally.
"In the long term this will not be a big impact, as the power of blockchain and cryptocurrencies goes beyond the price."
Bitcoin will breach the $ 100,000 mark this year.Kerim Derhalli, CEO of investment app Invstr, said: "Bitcoin is the next logical stage of the information revolution. It was worth under $ 1,000. I predict next year it could hit the $ 50,000 to $ 100,000 mark.
"Bitcoin is something that has gone against the established government system and seems to be winning."
"Bitcoin is now tested and proven to be marketed: more importantly, people now separate the Blockchain's incredible abilities from outside issues, so bitcoin is gaining more solid confidence from users and outsiders as this understanding improves. These are perceived downsides being taken care of, while the upside for bitcoins is virtually limitless. "
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Surely, Bitcoin is headed up – John McAfee
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very positive about Bitcoin. He predicted that Bitcoin price will hit $ 1 million by 2020 following last year's prediction of $ 7,000 which was well surpassed.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $ 1 million by the end of 2020. I will still eat my d ** k if wrong " – John McAfee[/perfectpullquote]When I predicted Bitcoin at $ 500,000 by the end of 2020, BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $ 1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
– John McAfee (@officialmcafee) November 29, 2017
Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrency market cap $ 162 billion which gives large room for growth.
Expect stability only after 10 years – Kristjan Dekleva (Hedge)
The Swiss-based financial expert will have a brace up for a decade of turbulence before any hope for a stable bitcoin. This will coincide with a general acceptance of Bitcoin even in hard-stance China. This though, not as a fiat replacement but a viable alternative.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"In my opinion, it will be at least 10 years before we see stability". – Kristjan Dekleva (Hedge)[/perfectpullquote] The finance expert at the cryptocurrency project Hedge sees Bitcoin investments as all-too-similar to the DotCom bubble of the 90s.Bitcoin to shrink to $ 100 – Kenneth Rogoff (Harvard Prof & former IMF chief)
Bitcoin, a former chief economist at the International Monetary Fund (IMF) Kenneth Rogoff has been pouring icy water on hopes of Bitcoin making it to the moon.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"I think Bitcoin will be a tiny fraction of what it is now if we're headed out 10 years from now … I would see $ 100 as a lot more likely than $ 100,000." – Kenneth Rogoff[/perfectpullquote] Rogoff's prediction is based on the long-held belief that the government will rise against anonymous virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but to Bitcoin pioneer on Wall Street thinks along very different lines.Bitcoin is the future; Fiat is Past – (Tim Draper, Venture Capitalist)
In 2014 with bitcoin at only $ 413, popular VC, Tim Draper predicted bitcoin to reach $ 10,000 in three years. Him was fulfilled a month earlier than he preached earning him a reputation among crypto fans. He said he expected the Bitcoin to continue its growth in an interview with Bloomberg last year. Tim Draper has made successful bets with Tesla, Skype, and Twitter in the past.
We are in for six digits. Maniacal right? That's exactly how Draper feels about Bitcoin prospects. Now on someone who understands a lot about bitcoin's foundation.
Bitcoin Will hit $ 320,000 someday – Cameron Winklevoss (co-founder, Gemini)
One of the popular Winkelvoss twins, Cameron Winklevoss recently said that he could easily see the price of BTC go up 40% someday. This year maybe? Not likely. The twin said he and his brother were taking longer outlook, 10 to 20 years.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"Bitcoin is actually fixed in supply so it is better than scarce … We think about the price in the last few weeks, it's still a very underappreciated asset. "- Winklevoss [/perfectpullquote] The fourth wealthiest cryptocurrency investor weighed bitcoin's prospect against gold and came up with a resounding verdict. "We believe bitcoin disrupts gold," He said.Bitcoin will reach $ 1million – Bobby Lee (BTCC Exchange CEO)
Bobby Lee, CEO of China's first Bitcoin exchange, went overboard with his prediction. Lee said bitcoin will surpass $ 1 million but unlike McAfee, he could see this happen in 20 years' time.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"Bitcoin, I think will get to $ 1 million for bitcoins … Right now it's 10,000, it will go 100,000 and then 200,000, 500,000." – Bobby Lee[/perfectpullquote]IN SUMMARY
Be good to be into actual predictions. We observed a general trend in their assessments.
Expect Price Fluctuations:
At this stage, bitcoin and cryptocurrencies will be greatly affected by speculations. Even small developments in governments, traditional will likely affect prices. Most say the fluctuations are normal and would not affect the longer term outlook.
Long-term outlook
Experts would prefer to make predictions over a longer period. Bit is priced for 2020 or at 10 to 20-year outlook. While the current reality may suggest some gloom, it's worth remembering that the heights achieved last year came amidst similar corrections along the way. It's only the 1st quarter of the year.
Bitcoin will be the standard for virtual currencies.
It has been tipped to remain the king of all cryptocurrencies. It's not going to be a case of "who will be impressed with their special use cases". It is a fact that technology behind bitcoins is less sophisticated when compared to many other projects like ethereum.
Bitcoin as a store of value
Gradually, bitcoin is being seen as a store of value that is an actual currency being compared to gold and other assets. Bitcoin was originally designed as an alternative currency to bank the unbanked. Most of the decision making bodies and financial experts, however, see Bitcoin more as a store of value, an asset rather than a medium of transaction.
Many Altcoins will suffer
Cryptocurrencies will include a clean-up of "useless" cryptocurrencies. A good number of the 2,000 coins will naturally go away as their value become worthless-only, only a fraction of cent. Brad Garlinghouse, the CEO of Ripple and Llew Claasen of Bitcoin Foundation
Economics of Scarcity
The limited supply of bitcoin-a fixed supply 21 million BTCs-will play a role in its price; if not now, in the future.
Outside factors will play a significant role
The observers believe that the adoption of bitcoin will ultimately dictate the price in the short-term. The creation and performance of futures markets, for instance, is expected to be tilted the price either way.
There are still concerns about bitcoins
Bitcoin a general bad image. This image, analysts believe will affect its future.
Finally, Caution against risking your life savings
Crypto investments are new and super-risky. Remember ethereum founder saying that cryptos are so risky the prizes might actually drop to zero. Well, that does not seem to be practical but the message was clear. Do not invest your life savings in bitcoin or cryptocurrencies generally. Just like John Draper noted, you still need to buy stuff in fiat. So while bitcoin will be worth more in the future, it's advisable to invest as much as one can afford to lose.
What is the Bithumb hack?
Cryptocurrencies are always vulnerable to hacks, but some digital token thefts have rocked the market in a short period of time.
Most recently Bithumb is reported to have lost $ 30 million in cryptocurrencies after a massive hack hit the exchange.
Bithumb is one of the largest exchanges in Asia, trading million in crypto assets every day.
Traders will be significant in the coming days.
This is the second significant hack to hit in South Korea in many weeks after CoinRail was hit for more than $ 40 million last week.
The plummet, the symptom of the most recent attack.
Analysts are expecting the digital currency to see the significant drops in the coming days.
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