Is Bitcoin on Its Way to $5000, and Should You Invest or Stay Away from Bitcoin?

Is Bitcoin on Its Way to $5000, and Should You Invest or Stay Away from Bitcoin?

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The blue chip brokerage house Fidelity has allowed its customers to create their own Bitcoin accounts, further accelerating Bitcoin’s bull run. The price of the digital currency hit the $4000-mark this week following the anointment by the mainstream media of the currency as a new asset class. Other Bitcoin projections Other industry players and experts are predicting a brighter future for Bitcoin. According to an analyst from Standpoint Research, the price of the virtual currency can reach the $5,000-mark by 2018. These rosy predictions about Bitcoin create the question on whether ordinary investors should invest part of their savings, or even their retirement accounts, into the cryptocurrency. Why invest or not to invest in Bitcoin To help the ordinary investors in deciding whether they will invest their hard-earned money into the digital currency, here are three reasons to invest or not to invest in the cryptocurrency. Three reasons to invest in Bitcoin It’s gaining mainstream credibility as industry players consider it as the new gold – Bitcoin has many of the same qualities of gold, whose value is not controlled by governments. Many investors and finance industry experts are serious about the promise of Bitcoin – A large number of mainstream investors and entrepreneurs already consider Bitcoin and other cryptocurrencies as a legitimate …

Explosive Price Surge: $100 Bitcoin Bought in 2010 Now Worth $75 Mln

Explosive Price Surge: $100 Bitcoin Bought in 2010 Now Worth $75 Mln

admin 2017, Bitcoin Awareness, Bitcoin Market Capitalization, Bitcoin News, Bitcoin Predictions for 2017, Bitcoin Price, Bitcoin Price Index, Bitcoin Trading Platforms, CoinGreed, Data Analysis, Exchanges, In the News, Investments, Trending News 0 Comments

Earlier this week, CNBC, one of the few mainstream media outlets that have been offering extensive coverage on Bitcoin over the past few months, revealed that $100 worth of Bitcoin purchased in 2010 is now worth $75 mln. In a relatively short span of seven years, Bitcoin price surged from around $0.003 to a staggering $2,389. That is a 796,000x return as an investment. In fact, today, on May 24, Bitcoin price hit a new all-time high at $2,392 and is continuously demonstrating a rising demand from both casual and institutional investors. Bitcoin price hits new all-time high again for the second time this week at $2,392. Important to note, China made a strong comeback. pic.twitter.com/S8mceNDTqM — Joseph Young (@iamjosephyoung) May 24, 2017 The majority of mainstream media analysts suggest that Bitcoin price is completely speculative in the sense that investors are purchasing Bitcoin solely expecting a massive return in value. However, as Coingreed previously reported, prominent investors including GoldSilver.com founder Mike Maloney are encouraging investors to hold Bitcoin as a mandatory asset to hedge against inevitable global economic uncertainty and financial instability, not just as a large return investment. Bitcoin as digital currency and digital cash On the contrary, …

BTCC CEO Lee Pegs Bitcoin Price Between $5,000 and $11,000 by 2020

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Bobby Lee, BTCC’s co-founder and CEO recently tweeted a bitcoin price prediction, which is between $5,000 and $11,000 by 2020, after the block reward halving. The entrepreneur, who regularly makes predictions, also stated the daily inflow would scale accordingly – from the current $2 million a day level, up to $5-$10 million a day. #Bitcoin price target in 2020; after block halving: USD $5k-$11k Assuming $5-$10 million daily flow into #BTC by then. (Today: $2m daily in) — Bobby Lee (@bobbyclee) February 26, 2017 // Get exclusive analysis of bitcoin and learn from our tutorials. Join Hacked.com for just $39 now. // Bobby Lee also reminded his 5,600 Twitter followers his “medium-term” price target for bitcoin is of, well, $5,600. There was, however, no mention of how long it will take bitcoin to reach that value. Later on, Lee also said that a $5-$10 million daily inflow isn’t a lot. He compared it to gold’s inflow of $340 million a day. The CEO’s enthusiastic bitcoin price prediction comes after BTCC, one of China’s biggest bitcoin exchanges,suspended bitcoin and litecoin withdrawals until March 15, in order to introduce new security requirements and comply with requests from the People’s Bank of China …

Bitcoin Price New All-Time High at $1,442, Bitfury Executive Predicts $5,000

Bitcoin Price New All-Time High at $1,442, Bitfury Executive Predicts $5,000

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Bitcoin price achieved its new all-time high yet again earlier this morning at $1,442. The average trading value of Bitcoin was similar throughout the Japanese and US Bitcoin exchange markets, at $1,430. “The SEC is concerned about how most of the markets [for Bitcoin] has traded outside of the US with no regulatory oversight. As of this point, I don’t think the SEC would approve the ETF. What would change my mind is if the ETF or SEC only traded Bitcoin on regulated exchanges,” said Kelly. Since then, Bitcoin price increased by another five percent. Although Bitcoin price has declined slightly upon reaching its new all-time high, over the past 24 hours, Bitcoin price demonstrated a 7.3 percent increase and it is currently averaged at $1,437. Many analysts including Bitfury Group executive vice chairman George Kikvadze, attributed the recent surge in Bitcoin price to the explosive growth of the Japanese Bitcoin exchange market and the activation of SegWit on Litecoin. Kikvadze writes: Japan; new btc apps and inst. investors driving price twrds $1500; if we activate well-tested; no risk scaling #segwit – easily at $5000 — George Kikvadze (@BitfuryGeorge) May 1, 2017 The Japanese government’s legalization of Bitcoin and the elimination …

Vinny Lingham: Bitcoin Price Will Reach $3,000 in 2017

Vinny Lingham: Bitcoin Price Will Reach $3,000 in 2017

admin 2017, Bitcoin, Bitcoin 2.0, Bitcoin Awareness, Bitcoin ecosystem, Bitcoin Market Capitalization, Bitcoin News, Bitcoin Predictions for 2017, Bitcoin Price, Blockchain News, BlockChain Technology Opinions, China Market, Crypto News, Cryptocurrency, In the News, Vinny Lingham 0 Comments

Vinny Lingham, co-founder and CEO of Civic.com released a highly anticipated blog post entitled “Bitcoin 2017: A Currency Devaluation Hedge for Emerging Markets” on December 28 to share his thoughts on Bitcoin and its price trend in 2017. In his analysis, Lingham predicted that the Bitcoin price will double or triple within the next 12 months. Over the past year, Lingham has been one of the few analysts who accurately predicted the price trend of Bitcoin. In a blog post published in April, Lingham told his readers that Bitcoin would reach a market cap of $15 bln by the end of the year. Today, it surpassed the $15 bln mark, reaching its all-time high market cap. The reasons behind strong performance The vast majority of mainstream media outlets and analysts have cited economic and financial factors as a reason for Bitcoin’s price rally. Various events such as the demonetization of banknotes in India and Venezuela, crackdown on Wealth Management Products (WPMs) and tightening of capital controls played a strong role in the rising price of Bitcoin. However, Lingham notes that most failed to acknowledge the impact of rising Federal Reserve rates on the value of Bitcoin. When the Federal Reserve increases …

Bitcoin Now $15 Bln Market, Going to $1000 Mark

Bitcoin Now $15 Bln Market, Going to $1000 Mark

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The total USD value of Bitcoin supply in circulation as calculated by the daily average market price across major exchanges has just crossed a new all-time high $15 bln record today December 27, 2016, as its unit price continues to climb closer to the $1000 mark. According to CoinMarketCap, $129.7 mln worth of Bitcoin has been transacted in the last 24 hours. This amount is a little lower than those recorded during recent price changing events. On Christmas Eve, for example, about $224 mln was transacted in a day yet the price of Bitcoin was $920. Hence, it beholds that the transaction volume is still likely to increase in another 24 hours as the price of Bitcoin is on its upward trend – at $938 as at the time of this writing and increasing at a rate of 3.7%. This pace brings back to memory the claim by CEO of CivicKey Vinny Lingham that the price of Bitcoin could reach $1000 before this year ends. Though several market observers still maintain a wait and see approach to the unfolding price situation, the wait does not seem too far ahead. Now, at almost $950 and still with five more days to …