Home / Cryptocurrency / Bull Bitcoins are making strong bets on its long-term potential

Bull Bitcoins are making strong bets on its long-term potential

<div _ngcontent-c14 = "" innerhtml = "

Bitcoin did a strong start for the new year after a worrying 2018 and now some of the biggest supporters of cryptocurrency are making bold bets on its long-term potential, hoping to get a new wave of enthusiasm and bitcoin price support.

Bitcoin has been enriched this week, up 7% for the year, although still far from its all-time high established over 12 months ago, as investors look forward to a series of developments at the horizon.

The price of bitcoins is now around $ 4,000 per currency, down nearly 80% from the peak close to $ 20,000, but this has not stopped artists like bitcoin veteran Andreas Antonopoulos and Winklevoss's Facebook twins.

Bitcoin fell in the course of 2018, losing about 80% of its value after peaking in December 2017.Getty

Speaking in Reddit Ask Me Anything& nbsp; Cameron Winklevoss, who with his brother Tyler founded the Gemini bitcoin exchange, said he thinks bitcoin will remain the number one cryptocurrency and is "most likely the long-term winner" as "it is difficult to defeat network effects."

"We believe that bitcoin is better than gold than gold, and if we're right, over time the bitcoin market capitalization will outweigh the $ 7 trillion market capitalism," Tyler added. "We believe in the long game."

Bitcoin's market capitalization is far from the current one, however, having risen from $ 320 billion in the last year to just $ 70 billion today, according to CoinMarketCap data.

Even the twins told them "they are busy as always" making a fund traded in bitcoin (ETF) "a reality."

Expectations around an upcoming bitcoin ETF have fueled bitcoin demand over the past two years, helping to push its epic run throughout 2017. These expectations have been somewhat attenuated, however, by the US Securities Commission and Exchange is in danger of price manipulation.

Despite the recent rise in bitcoin prices, it is still far from its historical highs.CoinDesk

Bitcoin and cryptocurrency investors who resisted & nbsp;the so-called winter crypto& Nbsp; & nbsp are, though& nbsp; I look forward to the major global stock exchanges that offer futures contracts with bitcoins and & nbsp;Bakkt's highly anticipated bitcoin platform.

Meanwhile, & nbsp;Andreas Antonopoulos, a lawyer and author of long-standing bitcoins, said he also expects bThe market capitalization of a single supplier outpaces that of gold in one day.

"I think it will be one of the many reserve currencies that can be used to support the value on other things." There is not one more, "he said, talking through his YouTube channel.

Bitcoin supporters have been recently encouraged by technical data, with the numbers showing bitcoin might be about to jump higher after & nbsp;months of decline.

As the market for larger bitcoins and cryptocurrencies has lost value in the last year, investors have been frightened by & nbsp;slow adoption & nbsp; between retailers and consumers, delays to & nbsp; long-awaited institutional investments and & nbsp; the ever-present threat of stricter regulation.

The GTI indicator Vera Convergence Divergence, & nbsp; that investors use to detect trend reversals, shows that the bitcoin is the longest "buy strip" in six months, it was reported for the first time by & nbsp;Bloomberg.

">

Bitcoin started the new year well after a troubled 2018 and now some of the biggest supporters of the cryptocurrency are making bold bets on its long-term potential, hoping to reap a new wave of enthusiasm and bitcoin price support.

Bitcoin has increased this week, with an increase of 7% for the year, although it is still far from its record high of more than 12 months ago, as investors look forward to a series of developments at the horizon.

The price of bitcoins is now around $ 4,000 per currency, down nearly 80% from the peak close to $ 20,000, but this has not stopped artists like the bitcoin veteran Andreas Antonopoulos and the Facebook twins Winklevoss who have done know the fame.

Bitcoin fell in the course of 2018, losing about 80% of its value after peaking in December 2017.Getty

Cameron Winklevoss, who along with his brother Tyler founded the bitcoin exchange Gemini, said he thinks bitcoin will remain the number one cryptocurrency and is "most likely the long-term winner" because "it is difficult to defeat" network effects. "

"We believe that bitcoin is better than gold and gold: if we are right, over time the market capitalization of bitcoin will exceed 7 trillion dollars in market capitalization," added Tyler. "We believe in the long game."

Bitcoin's market capitalization is far from the current one, however, having risen from $ 320 billion in the last year to just $ 70 billion today, according to CoinMarketCap data.

The twins have also said that "they are committed as always" to make a fund traded in a bitcoin (ETF) "a reality".

Expectations around an imminent ETF bitcoin have fueled bitcoin demand over the past two years, helping to push its epic run throughout 2017. These expectations have been somewhat attenuated lately, while the US Securities and Exchange Commission is worried about the potential price manipulation.

Despite the recent rise in bitcoin prices, it is still far from its historical highs.CoinDesk

Bitcoin and cryptocurrency investors who resisted the so-called winter crypto I am however I look forward to the major global stock exchanges offering bitcoin and futures contracts Bakkt's highly anticipated bitcoin platform.

Meanwhile, Andreas Antonopoulos, a lawyer and author of long-standing bitcoins, said he also expects bThe market capitalization of a single supplier outpaces that of gold in one day.

"I think it will be one of the many reserve currencies that can be used to support the value of other things: there is not one more", he said speaking on his YouTube channel.

Bitcoin supporters have recently been encouraged by technical data, with numbers showing bitcoin might be about to jump higher afterwards months of decline.

While the market for bitcoins and larger cryptocurrencies has lost value in the last year, investors have become scared slow adoption between retailers and consumers, delays in long-awaited institutional investments and the ever-present threat of stricter regulation.

The GTI indicator Vera Convergence Divergence, which investors use to detect trend reversals, shows that the bitcoin is in its longest "purchase strip" in six months, it was reported for the first time by Bloomberg.

Source link