Bitcoin News News

Tom Lee Says ‘Bitcoin (BTC) could be worth over $10 million in 20yrs Time’

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Thomas Lee aka Tom Lee, the managing partner of Fundstrat Global spoke in the Blockshow Asia 2018 on November 28, where he correlated Bitcoin [BTC] with FANG stocks and also speculated the price of Bitcoin in 20 years.

Tom Lee derived a comparison between earlier generations and their investments. Lee explained;

The silent generation [born during the great depression] is the only generation that bought gold as an investment when US Dollar standard in 1971. That was the only time gold which drove a 15 x gain in gold and it is because of a single generation and the same thing will happen with the crypto and millennial.

Referring to the 1908s consumer stocks and the actual FANG stocks [Facebook Amazon Netflix and Google], Lee said that every generation creates its own FANG stocks and that the next big FANG is within Fintech. He added;

The next big FANG is withing FinTech whether its square probably Bitcoin and that’s really the opportunity of the generation. Crypto I think is in the early stage, there’s only 50 million active crypto wallets but there’s 227 million PayPal accounts and there’s 4.6 billion Visa and MasterCard accounts and by using social network value… Bitcoin could be worth over $10 million per Bitcoin in 20 years period

Focussing on the number of wallets and its growth, Tom Lee (Thomas Lee) said that wallet adoption was both a function of millennial adoption and the fact that Bitcoin and cryptocurrencies were becoming an asset class. He continued that by 2019 the crypto-ecosystem would see catalysts being introduced into it and that institutions would play a big role in that.

Tom Lee explained that institutions would usually look at the 200-day moving average of Bitcoin’s price. He clarified that institutions wouldn’t jump into the Bitcoin market just because Bakkt launched and that they were waiting for Bitcoin to recover to its 200-day average, which is around $7000. He continued:

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Bitcoin News News

Bitcoin (BTC) Price Party’s Only Getting Started after 2019’s Monster 100% Surge

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According to eToro senior market analyst Mati Greenspan, bitcoin is in amidst a parabolic bull cycle and is on track to sustain its strong momentum over the medium to long term.

Since January, within less than six months, the bitcoin price has increased by nearly 100 percent against the U.S. dollar.

Bitcoin Charts BTC Charts Prices

With a 98% gain year-to-date, bitcoin has outperformed most assets in 2019
(source: coinmarketcap.com)

Still, despite its large short-term rally, Greenspan noted that the dominant cryptocurrency is only at the start of a bigger cycle that may lead to new highs for the asset.

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Ripple (XRP) Explosive Two Day 31% XRP Rally

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World’s third largest cryptocurrency Ripple (XRP) has appreciated up to 31-percent against the US dollar in just two days.

The XRP-to-dollar exchange rate Tuesday established an intraday high towards $0.405, up 25.05% since the market open on Luxembourg-based Bitstamp exchange. The pair dropped as much as 5.05-percent ahead of the European session to neutralize its overbought sentiments, finding interim support at $0.384-level.

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RIPPLE (XRP) SURGES 25% IN A DAY | SOURCE: TRADINGVIEW.COM, BITSTAMP

The sentiment was the same across the rest of the cryptocurrency index, with almost all the leading cryptocurrency posting surplus intraday gains. Bitcoin (BTC), for instance, extended its rally action to establish a new 2019 peak towards $8,836.19. Ethereum, EOS, and Bitcoin Cash too recorded double-digit percentage gains on a 24-hour adjusted timeframe.

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Bitcoin Price Smashes $7,500 With Spectacular Return of Bull Market

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The crypto market has made a spectacular return as it added $28 billion in the past 48 hours. The bitcoin price surged past $7,400 and hit a new 2019 high, marking the start of a new bull market.

In many major markets, the volume of bitcoin has returned to the late 2017 level with the “real 10” daily spot volume of bitcoin surpassing $1.9 billion.

bitcoin charts 24hr volume, Bitcoin Price

The bitcon price hit a new 2019 high after surging over $7,500

The “real 10” volume calculates the daily volume of BTC using ten exchanges that have more than $1 million in legitimate volume. In March, the “real 10” volume was estimated to be around $270 million.

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Facebook is Pro-Crypto: Social Media Giant Lifts Ban on Cryptocurrency and Blockchain Ads

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Facebook, the largest social media giant, made news after it announced that it would launch its own cryptocurrency, Facebook Coin. It was also rumoured that Facebook was looking out for VC firms to invest in their cryptocurrency project, with the targeted sum being “as much as $1 billion.”

Now, according to an official announcement, Facebook is going to lift its ban on cryptocurrency and blockchain related ads on its platform.

The facebook statement read :

“Starting 5 June, we will update our Prohibited Financial Products and Services Policy to no longer allow ads promoting contracts for difference [CFDs], complex financial products that are often associated with predatory behaviour. These products, due to their complexity, often mislead people.”

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How To Prove You’re Bitcoin Creator Satoshi Nakamoto..

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Craig Wright, a man who, as WIRED wrote about back in 2016, either created Bitcoin or very badly wants someone to believe he did.

Now rumours are swirling through the Bitcoin world that Wright himself is poised to publicly claim—and possibly offer some sort of proof—that he really is Satoshi Nakamoto, the mysterious inventor of Bitcoin. If he does, he’ll have to convince a highly skeptical cryptography community for whom “proof” is a serious word, and one that requires cryptographic levels of certainty.

The suggestion is that Wright, an Australian cryptographer and security professional, has arranged to perform a demonstration for media in London sometime in the next week that’s intended to convince the world he’s bitcoin’s creator.1 Luckily for any legitimate claimant to the Satoshi throne—and for bitcoiners tired of the long succession of unproven candidates and speculation—there are some clear, almost incontrovertible ways for Satoshi Nakamoto to prove himself. When…

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