Category Archives: Bitcoin
Wolf Of All Streets worries about a world where Bitcoin hits $1M: Hall of Flame – Cointelegraph
Scott Melker is the host of The Wolf Of All Streets Podcast and author of The Wolf Den newsletter.
If I tweeted about a small cap [crypto] of some sort right now, the price would probably change by like 50%, says Scott Melker, better known to his 904,800 Twitter followers as The Wolf Of All Streets.
Melker says he takes this responsibility seriously and wont share tweets that might impact the market but this makes Twitter a lot more boring from his end. In fact, Melker declares that Twitter stopped being fun when he reached 100,000 followers.
Thats when I went through a phase of a real love-hate relationship with Twitter because thats when I guess 10% of the people who respond to comments were trolling at any given time.
All you can really post to 900,000 followers is Bitcoin and inspirational quotes because everything else will land you in hot water.
After graduating from Penn State University with an Anthropology degree in 1999, Melker tried his hand at a million other things finding the most success in his 20-year stint as a DJ.
Shortly after finishing university, he also started his own magazine in Philadelphia called 101 Magazine, focusing on street culture and city vibes.
It caught the attention of a huge magazine called Frank 151, which acquired it, and Melker became the editor-in-chief of both.
During that time, he had the opportunity to attend insane parties and rub shoulders with legendary acts like the Wu-Tang Clan and Outcast.
The music industry led him to try crypto trading in the first place.
I just happened to look into crypto because there was a bunch of DJs trading it, he says.
He first started trading on the Gemini crypto exchange in 2016 and recalls buying Bitcoin to send it to another exchange, Bittrex, so he could buy Ethereum and Ripple. ETH was under 20 bucks back then, he notes in a cheeky humble brag.
Rather than some lofty higher purpose, he says the main attraction was making cold hard cash.
I was really just trading, trying to make money to support a new family; it had nothing to do with what Bitcoin was or what the asset class was.
Melker initially started stacking up followers when he was trading the market well and posting about it on Twitter. At that point in time, his content was 100% charts and trades.
However, Melker didnt want his account to be based on trades because its fickle.
So, he transitioned toward a more holistic approach to his content within the crypto industry.
I would love to tell you there was some strategy that I took to grow my account, but it was always just me doing whatever I enjoyed doing the most at any given time.
Melker has observed a direct correlation between his follower growth and the performance of the crypto market.
During previous bull markets, he has experienced an insane influx of daily followers.
There was a time when I was getting a hundred thousand [followers] in two months, he says.
Melker used to literally respond to everybody who commented on his tweets or messaged him, but that ship has now sailed.
Thats like a full-time job, and then you just get to the point where you literally cant open all your DMs anymore, he says.
But its best not to refer to him as an influencer.
I hate the term influencer because, to me, Im just a student of crypto, and its something Im passionate about and want to learn more about.
Melkers content revolves around crypto news and keeping people up-to-date with whats happening in the market.
He likes to share his take on whats important, and whats kind of noise and not signal.
[My content includes] all the lessons that Ive learned in my streams and podcasts, but I would say its generally educational/informational content about this market.
Melker emphasizes the overwhelming pressure he faces whenever he decides to fire off a tweet, considering how many followers he has amassed on Twitter.
Twitter is like a movie where you throw a grenade in a room and walk away, and theres a huge explosion behind you. Thats how I feel every time I send a tweet now, Melker says.
Melker is not a fan of United States Securities and Exchange Commission Chair Gary Gensler.
He admits that his Twitter is filled with many angry tweets against Gensler.
I literally contributed to aggressively getting #firegarygensler trending on Twitter, he declares.
He explains that his problem with Gensler is his recent regulatory actions, which he perceives as a massive overcorrection targeting crypto firms.
He believes that it stems from a sense of embarrassment over the fact Gensler was meeting with Sam Bankman-Fried before the collapse of FTX and didnt realize he was a fraud.
ZachXBT, a pseudonymous on-chain researcher, accused Melker of pumping and dumping shit coins to his followers in 2021. It was a troubling time for Melker, who received threats and became the target of white-hot anger.
Melker vehemently refuted the claims and announced he would steer clear of tweeting about projects with small market caps altogether.
Melker says he doesnt want his audience to get the wrong idea and prefers to focus on the educational stuff. He reiterates that he was passionate about trading altcoins, but says it can be difficult to navigate the boundaries of what you should and shouldnt talk about as your following grows.
You dont just show up with 900,000 followers one day and understand what you can and cannot tweet about.
Theres nothing that makes you look dumber than a price prediction, Melker states. He should know, given he took an optimistic swing at predicting Ethereum would hit five figures in 2021.
However, he is bullish on Bitcoin hitting six figures in the next bull run.
I think the next cycle would be somewhere between 100 (thousand) and 250 (thousand), he declares.
But Melker believes that after that, the market will see another huge decline before it hits half a million.
Then we drop down to 60 (thousand), and its boring forever. Then, we pop up to half a million, like we continue these four-year cycles.
However, Melker doesnt want to live in a world where Bitcoin is a million dollars.
The faster it happens, the worse the world is, Melker says.
Because if Bitcoin goes to a million dollars. It means that everything else has exploded, including the United States dollar, and were living in some Mad Max dystopian future.
Where you and I are those guys without faces painted going to gas town, fighting off the enemies, he describes, referring to the 2015 movie Mad Max: Fury Road.
But maybe in a couple of decades.
I would like to see Bitcoin at a million dollars in 20 years, following reasonable cycles, he adds.
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Ciaran Lyons is an Australian crypto journalist. He's also a standup comedian and has been a radio and TV presenter on Triple J, SBS and The Project.
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Wolf Of All Streets worries about a world where Bitcoin hits $1M: Hall of Flame - Cointelegraph
Kennedys Bitcoin Plan: A Sign Bitcoin Is Becoming Mainstream, Nonpartisan – Forbes
Jr. speaks on stage during Bitcoin Conference 2023 at Miami Beach Convention Center on May 19, 2023 in Miami Beach, Florida. (Photo by Jason Koerner/Getty Images for Bitcoin Magazine)Getty Images for Bitcoin Magazine
Presidential Candidate Robert F. Kennedy Jr unveiled a significant announcement this week involving bitcoin. The plan included cutting taxes and to begin backing US debt with bitcoin, among other assets.
My plan would be to start very, very small, perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver platinum or bitcoin, Kennedy said according to Bitcoin Magazines coverage, reported by TheStreet.
The excitement on bitcoin twitter was palpable, with some taking a more measured approach. Christian Keroles, Bitcoin Magazine General Manager honed in on Kennedys comments about bitcon taxes.
Bitcoins tax statues in the US have been a barrier for its adoption as a currency for payment, Keroles told me in our interview. He believes that this narrative helps legitimize bitcoin as a new form of money.
Alex Stanczyk, host of the Cafe Bitcoin Podcast joined the conversation as well. The significance of this is not that these candidates might change the laws regarding bitcoin, the significance here is that they are talking about it at all, Stanczyk, told me in a discussion over twitter.
An interesting development considering that three presidential candidates for 2023, from both sides of the aisle now openly support bitcoin. This is according to Gregory Gosson, of BitcoinNews.com.
Not only is bitcoin becoming a mainstream topic of political discourse, but also a bipartisan one, Brandon Green, head of the Bitcoin Conference told me in a discussion about the development. Kennedy, Vivek Ramaswarmy, and Mayor Francis Suarez of Miami, along with former Presidential Candidate Tulsi Gabbard all spoke at the 2023 Bitcoin Conference this year.
Two Republicans, and two Democrats, Green pointed out. For a movement historically characterized as right of center, this newfound cross-aisle interest is an important development that may help facilitate greater use and adoption.
Though laws are not likely to change any time soon, I mirror Stanczyks sentiment. The fact that politicians are speaking positively at all is a big news, and a potential sign that voter sentiment is changing as well.
Im a freelance writer exploring the bitcoin ecosystem. My work has been published by Bitcoin Magazine and Bitcoin News. Im personally invested in bitcoin and am fascinated by the emerging bitcoin economy.
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Kennedys Bitcoin Plan: A Sign Bitcoin Is Becoming Mainstream, Nonpartisan - Forbes
Elliott Wave Prediction: Bitcoin BTC/USD and Ethereum ETH/USD Analysis – FXStreet
In this article, we will provide an insightful analysis of the Elliott Wave prediction for Bitcoin BTC/USD and Ethereum ETH/USD. Currently, Bitcoin is experiencing a corrective pattern known as Elliott Wave ii). As it has been hovering around the 30,000 mark for nearly a month, many traders and investors are eagerly awaiting a potential dip below this crucial level.
Bitcoin's recent price action has shown a sideways movement, indicating a consolidation phase. According to the Elliott Wave theory, this can be interpreted as a correction within a larger bullish trend. As of now, Bitcoin is in the midst of Elliott Wave ii), a corrective pattern that suggests a temporary pause or retracement before the uptrend resumes.
Technical analysts have identified two potential targets for this corrective pattern. These targets indicate the levels at which Bitcoin could find support and potentially reverse its downward movement. Traders and investors should keep a close eye on these targets to gauge the market sentiment and make informed decisions.
While the focus is primarily on Bitcoin, it is essential to analyze Ethereum's price action as well. Ethereum, the second-largest cryptocurrency by market capitalization, often follows Bitcoin's trends. Currently, Ethereum ETH/USD is also experiencing a consolidation phase, mirroring Bitcoin's sideways movement.
Although Ethereum's Elliott Wave pattern may slightly differ from Bitcoin's, it is crucial to consider the overall market sentiment and Bitcoin's influence on altcoins. Traders and investors should closely monitor Ethereum's price levels and potential support zones to gain insights into its future trajectory.
In conclusion, both Bitcoin and Ethereum are currently in a corrective phase, as indicated by the Elliott Wave theory. Bitcoin, in particular, is still within Elliott Wave ii), suggesting the possibility of a dip below the critical 30,000 level. However, it is important to remember that Elliott Wave predictions are based on historical patterns and are not foolproof.
Traders and investors should conduct thorough research and analysis, taking into account various factors such as market sentiment, fundamental developments, and technical indicators, to make informed decisions. By staying updated on the Elliott Wave predictions for Bitcoin BTC/USD and Ethereum ETH/USD, market participants can better navigate the cryptocurrency market and potentially identify profitable trading opportunities.
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Elliott Wave Prediction: Bitcoin BTC/USD and Ethereum ETH/USD Analysis - FXStreet
Bitcoin, Ether inch above key levels; Matic leads gainers – Yahoo Finance
Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. Bitcoin and Ether both recaptured key support levels. Institutional interest remains upbeat following a slew of Bitcoin exchange-traded fund (ETF) applications, industry experts told Forkast.
See related article: Weekly Market Wrap: Bitcoin rises past US$31,000, cryptos rally after Ripples win against U.S. SEC
Bitcoin rose 0.97% during afternoon trading in Asia to US$30,210 as of 4:30 p.m. in Hong Kong, recovering from a daily low of US$29,854.
Ether gained 1.1% during afternoon trading in Asia to US$1,913, after it fell as low as US$1,884 earlier today.
Institutional interest remains a driving force behind Bitcoins stability, as large corporations and financial institutions continue to invest in Bitcoin, while the SEC accepts more Bitcoin ETF filings for review, Lucas Kiely, the chief investment officer of digital asset platform Yield App, told Forkast.
Due to its vaunted position as a commodity, Bitcoin has emerged as a long-term investment opportunity and as a hedge against inflation amid aggressive central bank monetary policies. Given this backdrop, investors are more likely than ever to perceive Bitcoin as a store of value.
Polygons Matic token was the days biggest gainer, rising 5.09% to US$0.7816, followed by the XRP token that strengthened 4.59% to US$0.8208. The XRP coin increased 73.87% on the weekly chart amid trader optimism after last weeks court ruling that the sale of XRP did not constitute a security.
The total crypto market capitalization over the past 24 hours rose 0.96% to US$1.21 trillion while market volume increased 95.85% to US$63.22 billion, according to CoinMarketCap data.
The Forkast 500 NFT index rose 0.96% to 2,728.65 points in the 24 hours to 4:30 p.m. in Hong Kong and gained 1.05% during the week.
Story continues
Bitcoins 24-hour non-fungible token sales dropped 22.27% to US$1.04 million, as sales for Uncategorized Ordinals fell 45.42% to US$465,996.
The sales slump caused Solana to overtake Bitcoin in 24-hour NFT sales volume, with US$1.15 million. Despite the increase, the Forkast SOL NFT Composite fell 0.56% during the day.
Ethereums 24-hour NFT sales fell for a second consecutive day, declining 21.77% to US$10.26 million, while sales for the largest Ethereum-native NFT collection, the Bored Ape Yacht Club, rose 10.26% to US$356,746. CryptoPunks sales also fell 76.61% to US$110,440.
Ethereum has managed to cross 10,000 unique buyers, a number it has only fallen below a few times this year, said Yehudah Petscher, NFT Strategist at Forkast Labs, the parent company of Forkast.News.
With NFTs losing steam its likely well see it fall below this threshold soon, especially as NFTs enter the slower time of the NFT market in the second half of the year.
The Opepen collection also continued its decline, with 24-hour sales decreasing 55.36% to US$148,191.
Image: elements.envato
Major Asian equities fell as of 4:30 p.m. in Hong Kong. Japans Nikkei 225, the Shanghai Composite, Hong Kongs Hang Seng Index and the Shenzhen Component all posted declines.
Markets were dragged down by the tech sector after Taiwanese chipmaker TSMC forecast a 10% drop in 2023 sales.
Hong Kongs annual inflation rate shrank to 1.9% in June, from 2% in May. But inflation increased to 0.6% for housing, from 0.5% in May, according to Hong Kongs statistics department.
Most U.S. stock futures fell during Thursday afternoon trading in Hong Kong, except the Dow Jones Industrial Average futures. The S&P 500 futures index and the tech-heavy Nasdaq-100 futures both declined.
On the corporate front, Netflix shares tumbled 8% on lower-than-expected quarterly revenue. Investors now await earnings reports from Johnson & Johnson and Abbott Laboratories, scheduled for release later today.
Investors remained cautious ahead of the Federal Reserves next meeting on monetary policy on July 26. The CME FedWatch Tool predicts a 99.8% chance the Fed will raise interest rates by 25 basis points at the next meeting. U.S. interest rates are now at 5% to 5.25%, the highest since 2006.
See related article: Standard Chartereds great expectations for Bitcoin in 2024
Updates with equities section
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Bitcoin, Ether inch above key levels; Matic leads gainers - Yahoo Finance
A Big DealEthereum Cofounder Teases New Upgrade That Be A 100x Game-Changer After XRP-Led Bitcoin And Crypto Price Boom – Forbes
BitcoinBTC, ethereum, XRPXRP and other major cryptocurrencies have surged over the last few weeks as BlackRock leads a surprise Wall Street charge.
Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market rollercoaster
The bitcoin price has found a floor at $30,000 per bitcoin, double its late 2022 price, while Ripple's XRP has almost doubled in the last week alone after a landmark legal ruling that could herald a $30 trillion crypto earthquake.
Now, after one crypto veteran declared a rally imminent after the Fed's $15 trillion "manipulation" of the bond market, ethereum cofounder Vitalik Buterin has teased a new upgrade to the network that could "reduce costs by 100 times."
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Buterin outlined a plan to bring so-called account abstraction to ethereum at the Ethereum Community Conference in Paris, calling the upgrade "super elegant" because it won't require making changes to ethereum's underlying protocol like other upgrades before it.
Account abstraction would see externally owned wallets switched to smart contract-based wallets, allowing users to recover their private key seed phrase as easily as resetting the password on an email account. It could also mean lower transaction fees, a perennial goal for the ethereum network, via so-called "signless transactions."
"The idea here is if there are these techniques that allow you to take mold many signatures from any transactions, combine them into one object which is much smaller and which can be much more quickly verified than verifying all of the account abstraction transactions individually and by doing so you can save data [and] computation becomes 100 times cheaper," Buterin told the conference attendees.
The smart contract wallet upgrade would also mean ethereum users could receive various other cryptocurrencies and be able to pay network fees without having to convert it to etheruem.
"This is actually especially a big deal on rollups," Buterin added, referring to the ethereum scaling mechanism that allows for transaction execution outside the blockchain's first layer.
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The ethereum price rally has for now failed to break above $2,000 per ethereum, with market analysts eyeing the closely-watched level.
"Ethereum has encountered a sell-off above $2000 but has maintained positive momentum," Alex Kuptsikevich, FxPro senior market analyst, said in an emailed note. "The performance of the largest altcoin sets the mood for a continuation of the bullish trend for the entire market. Still, we must wait for consolidation above $2000 for confirmation."
I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.
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A Big DealEthereum Cofounder Teases New Upgrade That Be A 100x Game-Changer After XRP-Led Bitcoin And Crypto Price Boom - Forbes
Bitcoins Role In Global Remittances And Cross-border Payments – Dataconomy
Bitcoin can be crucial in global remittances and cross-border payments. Heres how this cryptocurrency impacts international payments and remittances.
Bitcoin is undoubtedly changing the global economy. The aspects this cryptocurrency affects the most involve international remittances and cross-border payments. Traditionally, people have relied on fund transfer services, such as Western Union and conventional banks, to send money across borders. However, these options are expensive for most people. Additionally, they are inaccessible to some individuals and time-consuming.
Consequently, more people are turning to alternatives like Bitcoin. This digital currency provides a more innovative and new way to transfer funds across geographical borders. This article explains the role of this digital currency in global remittances and cross-border payments.
Among the most promising Bitcoin applications is global remittances. Traditionally, people have used slow and expensive methods to remit funds in their countries. Thats because they involve intermediaries that increase processing time and transaction fees. Also, conventional remittance services are inaccessible in low-income and rural areas.
Besides remittances, people can use Bitcoin for cross-border payments. Conventional cross-border payments have also relied on expensive and slow methods. Bitcoin provides a cheaper, faster, and more efficient alternative. Today, some businesses use Bitcoin to bypass the intermediaries that increase transaction time and costs. And this increases their profit margins while facilitating international trade.
Bitcoins borderless nature makes it an attractive medium for cross-border transactions and remittances. Since people can acquire this cryptocurrency via platforms like quantum ai and anybody can use the blockchain, more individuals avoid banks when transacting internationally.
Many blockchain startups now offer services that facilitate Bitcoin payments and remittances. With these services, anybody can use Bitcoin without understanding its underlying technology. Also, crypto exchanges allow businesses and individuals to quickly convert Bitcoin into fiat money if they dont want to hold the cryptocurrency due to volatility and other reasons.
While Bitcoin is playing a significant role in global remittances and cross-border payments, it faces several risks and challenges. For instance, Bitcoin price remains significantly volatile. Its value fluctuates unpredictably and rapidly. And this creates uncertainty for the fund senders and receivers. Also, Bitcoin volatility makes setting accurate transaction fees and exchange rates challenging.
Additionally, Bitcoin and the entire crypto industry lack regulatory oversight. That means Bitcoin users and owners are responsible for their funds safety. Bitcoin wallet providers and crypto exchanges are not subject to similar regulations with conventional financial institutions. Consequently, this creates opportunities for criminal activities like money laundering and fraud.
Moreover, Bitcoin brings more privacy to transactions. And this makes tracing people that use it for illegal activity challenging. Some people have even associated Bitcoin with unlawful activities like financing terrorism. Consequently, many regulators cant justify its increasing popularity and widespread adoption.
Financial experts and economists predict the global remittance market will hit $930 billion by 2026. The crypto sector is well-positioned to exploit a significant market portion. Thats because crypto transactions are borderless and digital money is decentralized. Bitcoin, in particular, offers unique advantages to people engaging in cross-border transactions and global remittances. Therefore, its an attractive alternative for people that send funds across borders. As more individuals and businesses learn about Bitcoin and its immense benefits, its use in global remittances and cross-border payments will increase.
Moreover, Bitcoins underlying technology is becoming scalable and sophisticated. Breakthroughs in sharding and other techniques make it an alternative even for large-scale business applications. Thus, more institutions and companies will likely adopt Bitcoin for cross-border payments and global remittances. Nevertheless, the cryptocurrency must overcome numerous challenges, including volatility, which makes users vulnerable to significant losses. Also, the cryptocurrency must prove its positive use so that authorities dont come in to regulate it and criminals dont use it in their operations.
Featured image credit: Pexels
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Bitcoins Role In Global Remittances And Cross-border Payments - Dataconomy
Peter Schiff is proud: Spencer says Bitcoin will ‘probably fall to zero’ – Kitco NEWS
(Kitco News) - The father-son duo of Peter and Spencer Schiff are now in alignment on their future outlook for Bitcoin (BTC) after the latter recently stated that the top cryptos price will probably fall to near zero over the next few years.
The comment from Spencer came in response to an article posted by Zero Hedge entitled The Two Causes Of The Coming Great Depression, which he called pure fearmongering.
Were about to have an unfathomably enormous economic boom, not a depression, Spencer said. The average Americans standard of living will skyrocket over the next 5-10 years (and it will be 100% sustainable). Theres nothing to worry about regarding the economy.
In response, Twitter user Tyler Pelletier said, He thinks ai automation and Bitcoin will solve everything and we will see deflation. No explanation as to how he sees this happening.
Spencer replied, Its not about Bitcoin at all. I dont think Bitcoin will have a major impact on the world, and its price will probably fall to near zero over the next few years. My thesis is an AI thesis.
Another user replied, in jest, Hear me out AI but on a blockchain, to which Spencer shot back, As far as I know, the only legitimate use for blockchain is bitcoin. Given that Im now long-term bearish on bitcoin, that also means Im long-term bearish on blockchain.
While many were quick to jump in and suggest that Spencer had fallen in line with his fathers opinion on the matter, the younger Schiff pushed back against those claims, saying their views have actually become more divergent.
I used to agree with him about the economy and I thought hyperinflation was coming, Spencer said. Now I think a permanent hyper-deflationary economic boom is coming, and the USD will soar in value as productivity, economic output, and our living standards all skyrocket.
The pessimistic outlook for BTC is a stark change from the position that Spencer held for years that Bitcoin is an excellent long-term investment and inflation hedge.
On March 10, 2021, Peter Schiff tweeted, My son @SpencerKSchiff went all in on Bitcoin on the last drop below $50k. 100% of his portfolio is now in Bitcoin. He sold the last of his silver stocks to raise the cash. If my own son is this brainwashed imagine how vulnerable most kids are. He's HODLing to infinity or bust.
Even as recently as April 2023, Spencer said, Long-term, Bitcoin is a much better buy than gold, and added that the top crypto is likely to demonetize gold in the long term.
The Bitcoin chart shows that at the time of Peter Schiffs tweet, Bitcoin was nearing the top of the market for the 2021 bull cycle. While there was a subsequent pump that topped out at $69,064, overall, the chart shows that Spencer went all-in near the top of the market, a common experience for many that FOMO into crypto during significant run-ups.
BTC/USD Chart by TradingView
The lengthy crypto winter that resulted in the value of portfolios declining by 50-90% has turned many off from the asset class, and it looks as though Spencer may be the latest investor incapable of appreciating the volatility that comes with investing in cryptocurrencies.
Spencer told CryptoPotato that while he now agrees with his fathers long-term price forecast for Bitcoin, he thinks Peter Schiff reached his conclusion only by accident.
My dads anti-bitcoin arguments are really bad and dont even make sense, he said. Hes completely wrong about the economy and I strongly discourage people from following his investment advice.
Peter Schiff responded to his sons about-face on Bitcoin by saying like many young people, Spencer got caught up in a popular fad that has since lost his attention as he moved on to the next fad, artificial intelligence.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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Peter Schiff is proud: Spencer says Bitcoin will 'probably fall to zero' - Kitco NEWS
Bitcoin Price Prediction – Heres How It Could Hit $50K, While … – Finbold – Finance in Bold
Despite Bitcoin recently correcting to below $30,000, optimism remains high that the leading cryptocurrency will rise once again. Analysts are now setting their sights on $50K for Bitcoin as market sentiment shifts bullish.
Currently, Bitcoin is trading at $29,725, having recently reached its highest price in over a year. At the beginning of July, the price touched $31,860, creating a higher high and signalling the bear markets end.
TradingView analystAlanSantanarecently highlighted that the current consolidation zone is similar to that in June 2022, before Bitcoin plunged to lows of $18,900.
The analyst highlighted that in June 2022, it took a month before support broke, causing a significant downside move. This time around, the analyst forecasts it will take a month to break to the upside.
Meanwhile, Stockto-Flow quant analyst,Plan B, forecasts Bitcoins price will reach $50Kin the run-up to the Bitcoin halving, set to occur in April 2024.
Plan B backed up the claim using the 200-week moving average, showing that Bitcoin is now trading above it. According to the trader, this signifies that the bear market is now over.
Looking beyond technical analysis, Bitcoin fundamentals are progressing at an exponential rate. Following Blackrock and other institutional money managers applying for Bitcoin Spot ETFs, the SEC has since accepted six proposals for review.
According to Michael Saylor,spot Bitcoin ETFs are crucial for crypto to gain massadoption as banks and institutions provide the infrastructure needed to onboard the masses.
Adding to the idea of mass adoption,Vitalik Buterin has outlined his efforts to bring forwards account abstraction, a process enabling users to manage their wallets as easily as their email accounts.
The plan would also help bolster Ethereum scalability, all while making the network easier to use. Buterin has teased that that changes could reduce costs by 100 times, which could have a very significant impact on the price of Bitcoin, Ethereum, and other major tokens.
Cryptocurrency has long been criticised for its complexity for the average user. However, this development moves the industry towards a seamless user experience, potentially driving prices to unprecedented heights.
Copycat cryptocurrencies are one of the hottest new trends, with the likes of XRP 2.0, Pepe 2.0, and $BITCOIN surging in recent weeks. While many of these are merely meme coins with no utility, a new Bitcoin-inspired utility coin is now turning heads.
BTC20is a new stake-to-earn crypto aiming to be the new Bitcoin. Currently, the project is undergoing a presale, priced at Bitcoins symbolic 2011 price of $1.
Despite launching just three days ago, the presale has gotten to a roaring start. It has already surpassed $400K and received mass coverage from media outlets and crypto analysts.
Like Bitcoin, there are 21 million tokens, with 6.05 million available at the presale. The remaining tokens will be available as staking rewards making the project 100% community owned and decentralised.
BTC20s main selling point is that it is the greener and more versatile version of Bitcoin. While Bitcoin has undergone success recently, it is not without criticism.
However, BTC20 is built on the Ethereum chain, making it interoperable with all other Ethereum-based applications.
Moreover, users can buy and manage it from their Ethereum wallet, like MetaMask or Trust Wallet. As such, once Ethereum implements its Account abstraction update, BTC20 will benefit from it too.
Also, BTC20 features a staking mechanism rather than mining. This makes the project environmentally friendly and easier to earn rewards than on the original Bitcoin network.
Overall, BTC looks to be one of the hottest tokens to watch over the coming months.
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Bitcoin Price Prediction - Heres How It Could Hit $50K, While ... - Finbold - Finance in Bold
Bitcoin, XRP, & Ethereum: Three Top Coins On Brink Of Golden Cross – NewsBTC
Bitcoin, XRP, and Ethereum three of the cryptocurrency markets most dominant coins are about to simultaneously form a 3-day golden cross.
This signal is rare, happening only a handful of times in the past in each individual asset. However, never have all three of these major cryptocurrencies triggered this signal all at the same time. What exactly does this mean, and what are the results of the 3-day golden cross?
The crypto market outlook is a lot less bleak than it was just weeks ago, between BlackRock and other institutions seeking to launch Bitcoin ETFs and the massive win for XRP and Ripple against the US Securities and Exchange Commission (SEC).
Even the technical environment is starting to show signs of a possible uptrend brewing. Notably, several top cryptocurrencies are inching closer to a golden cross on the 3-day timeframe, which has only occurred a handful of times in the past.
This is about to happen in Bitcoin, Ethereum, and XRP, simultaneously, for the first time in their history. Previously, these signals arrived at different phases of previous bull markets. It wasnt until all three coins golden crossed that a stronger rally began.
A golden cross occurs when a higher timeframe moving average, typically a 200-period MA, crosses above a lower timeframe moving average, usually a 50-period MA, from below. In contrast, a death cross happens when the two cross down from from above.
These crossovers generate a buy or sell signal in a moving average-based trading system. Such systems are designed to capture the majority of a trend, but tend to miss much of the early part of a rally as it awaits confirmation.
The only time the signal suffered a drawdown was in Bitcoin in 2019. In all other instances, the buy signal using nothing more than a simple moving average crossover, was wildly profitable with limited downside. In 2015, the BTCUSD 3-day golden cross yielded over 2,000% ROI before crossing back down and giving the corresponding sell signal. XRPs golden cross to death cross kept more than 9,000% of the uptrends gains. Ethereum never fired a signal back then, however, due to insufficient price history.
Come 2019, Bitcoin had its misfire where the buy signal then sat through a long drawdown. Neither XRP nor Ethereum triggered a signal until 2020, when the entire crypto market began to rally together. The 2020 ETHUSD golden cross held onto over 1100% ROI before the death cross closed out the position. XRP failed to set a new all-time high, but the golden cross still clocked in 200% ROI.
Even though Bitcoin fired early in 2019 and sat through a drawdown, the buy signal was still ultimately effective and retained 550% ROI by the time a death cross caused the position to close. Across the five historic buy signals, there was an average of 2,570% ROI when a golden cross occurred. While such returns arent likely in the future, this does suggest the signal is effective.
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Bitcoin, XRP, & Ethereum: Three Top Coins On Brink Of Golden Cross - NewsBTC
Ripple (XRP) Price Prediction – Bitcoin (BTC) And Tradecurve Lead The Market Growth | Mint – Mint
Crypto investors and enthusiasts are excited after the launch of Tradecurve (TCRV). The new platforms presale is on a golden run since inception. Meanwhile, Ripple (XRP) and Bitcoin (BTC) have struggled to maintain their growth. With its multiple use cases and huge market viability, the Tradecurve project is likely to rake in more than $20 million during its presale.
Crypto investors and enthusiasts are excited after the launch of Tradecurve (TCRV). The new platforms presale is on a golden run since inception. Meanwhile, Ripple (XRP) and Bitcoin (BTC) have struggled to maintain their growth. With its multiple use cases and huge market viability, the Tradecurve project is likely to rake in more than $20 million during its presale.
As the US market is becoming more hostile to cryptocurrencies, Ripple (XRP) has shifted its focus to European cities, especially London. Recently, the policy head at Ripple, Susan Friedman, stated that London can be a burgeoning hub for digital currencies. She praised the Bank of Englands digital pound initiative that Ripple is a part of. Besides, Ripple has hinted about its expansion in different markets.
Recently, Ripple built a protocol for the tokenization of real estate assets. Highlighting this development, Ripples executive, Antony Welfare, stated that the company is focusing on real-world use cases for CBDCs and stablecoins.
Meanwhile, Ripples market value has suffered a drop of 9% in the past month, largely due to its ongoing legal case with the SEC. Ripple is currently hovering at $0.47. As per experts prediction, if the court rules in favor of Ripple and against the SEC, XRPs value can jump to $1.0.
As per the latest market report, Bitcoin (BTC) miners have amassed a whopping $184 million from transaction fees in Q2 2023. This is the highest milestone, since 2021, registered by Bitcoin miners.
The rising demand for BTC tokens, and increasing network activity on the Bitcoin network have been the primary reasons behind a surge in transaction fees. According to experts, the popularity of the Ordinals protocol and BRC-20 tokens have driven the increased network activity on Bitcoin.
Subsequently, the price movement of Bitcoin has also moved northward in the past few weeks. The exchange rate of Bitcoin has soared by 14% in the past 30 days. At press time, Bitcoin is changing hands at $30,326.24.
Tradecurve (TCRV) is a blockchain-based trading exchange, which has a hybrid infrastructure and institutional-level liquidity. Being an all-in-one platform, it allows people to trade a wide range of assets, such as cryptocurrency, equities, Forex, and more, with a single account.
The FX market records a daily transaction volume of more than $7 trillion. If we club this with all the asset classes, including cryptocurrencies, the target market of Tradecurve shoots off the roof.
On this platform, traders need to create an account by using an email id. Next, they need to connect their digital wallets to their trading account, and make a deposit using any cryptocurrency. Further, there is no KYC requirement on the platform, allowing people to execute trades privately and anonymously.
Additionally, the platform offers low latency, slippage-free trading, and non-custodial storage. Also, its copy trading feature, and the Metaverse Trading Academy assist traders in maximizing profits. Besides, users will have absolute control over their assets and private keys.
The platform has completed the initial three stages of its presale, and stage 4 is more than 65% sold out. To date, the price of TCRV tokens has increased by 80%. The current price of a token is $0.018, and it will become $0.025 in the fifth stage. Moreover, it can surge to $0.50 during the presale round. If you book your tokens early, you can get 100x profit over the next six months.
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The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
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Ripple (XRP) Price Prediction - Bitcoin (BTC) And Tradecurve Lead The Market Growth | Mint - Mint