Bitcoin $250k prediction

[The CC Forums]

Each time these market pundits speak of huge price potential in bitcoin and crypto, the markets move upwards. You didn’t see this type of proclamation in Feb-March, but now they’re back.

https://www.ccn.com/billionaire-tim-draper-sets-250000-bitcoin-price-target-for-2022/

“Draper made the bold prediction April 12 at the 2018 Block (Chain) Party at his self-named Draper University in San Mateo, California.

“I’m thinking $250,000 a bitcoin by 2022,” Draper said (via Reddit). “Believe it. They’re going to think you’re crazy, but believe it. It’s happening and it’s going to be awesome!”

Draper has a fairly good track record for predicting bitcoin price movements, so market observers aren’t taking his bullish forecast lightly. In 2015, the venture capitalist accurately predicted that bitcoin would top $10,000 by the end of 2017. BTC prices soared above $13,000 on December 31, 2017.”

 

[Denise Gallegly]

CRYPTO HEADLINES — April 19, 2018

1. Bitcoin and Crypto are Solutions to the $164 Trillion Global Debt
The International Monetary Fund has reported that the global debt has hit $164 trillion marking a trend that could lead to a catastrophic recession if countries fail to pay off debts due to strict financing conditions. According to the IMF report more than one — third of the worlds advanced economies carry a debt to GDP level over 85%, three times more than in 2000. At the same time, a fifth of developing markets have debt levels above 70% GDP. These may be the kinds of numbers that inspired Satoshi Nakamoto to embed into the hash of the genesis block of the Bitcoin blockchain this headline from ‘The Times’ — “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”. Read more at NewsBTC.
2. Kraken CEO: Crypto Exchange Won’t Answer New York AG’s Inquiry
San Francisco-based cryptocurrency exchange Kraken isn’t planning to respond to the New York Attorney General’s newly unveiled inquiry into the ecosystem. Kraken was one of 13 exchanges that received a letter from New York Attorney General Eric Schneiderman on Tuesday as part of his new inquiry into cryptocurrency exchanges, as previously reported. While most exchanges generally welcomed the inquiry and said they would fill out the attached questionnaire, Kraken took a different tack when reached for comment. Read more at CoinDesk.
3. Bitcoin is flashing a rare buy signal, crypto hedge fund manager says
The worst could be over for bitcoin, according to one of the best-known cryptocurrency hedge fund managers. Dan Morehead, CEO of Pantera Capital, said the digital currency has been growing at 165 percent per year in the five years the firm has been in business. “Something that’s growing that fast hardly ever gets below its 200-day moving average,” Morehead told CNBC’s “Fast Money” Wednesday. “When it does, it’s a very good time to buy”. Read more at CNBC.

 

[Denise Gallegly]

CRYPTO HEADLINES — April 20, 2018

1. Bitcoin Is About to Have Its First Back-to-Back Weekly Gain in 2018
Bitcoin bulls are celebrating the virtues of the biggest cryptocurrency again. The digital coin gained as much as 4 percent Friday, putting it on pace for its first back-to-back week of gains this year. The mini-rally is helping to ease the pain from the more than 50 percent loss in the first quarter that followed last year’s 1,400 percent surge. Read more at Bloomberg.
2. Bitcoin Cash is soaring as traders ready for another hard fork
Bitcoin cash was up more than 10% Friday, continuing its outperformance of other major cryptocurrencies, as a competing hard fork approaches on May 15. The fourth-largest cryptocurrency, which split from bitcoin in a similar hard fork in 2017, is now up more than 30% in the past week. Bitcoin, by comparison, is up 5% over that time. Read more at BusinessInsider.
3. South Korean Crypto Exchange Bithumb To Issue Own Token In Singapore
Bithumb, South Korea’s leading cryptocurrency exchange, has recently revealed plans to issue its own token, Bithumb Coin, in an Initial Coin Offering (ICO). According to a report, the Bithumb token sale will be conducted in Singapore since ICOs are banned in South Korea. Read more at CoinTelegraph.

 

[Denise Gallegly]

CRYPTO HEADLINES — April 21, 2018

1. Bitcoin Price is Up 13.6% Since Tax Season Came to an End
Bitcoin is performing well in the market today as it tests the $9,000. The newfound bullish momentum is not a surprise for Fundstrat Global Advisors analyst Tom Lee, who said that tax filings were bringing the cryptocurrency market down and ‘Tax Day’ would eventually trigger an upside move for the bitcoin price. The bitcoin price has been steadily rising since April 12 after being buoyed at the $6,500-$7,000 range. Read more at NewsBTC.
2. Stellar Run: XLM, IOTA, ADA Spike in Good Week for Altcoins
Alternative cryptocurrencies shone bright this week, as the wider cryptocurrency market saw continued resurgence. The total market capitalization of all cryptocurrencies rose 25 percent week-on-week to $375 billion, according to CoinMarketCap — that’s up from below $250 billion just 10 days ago. Read more at CoinDesk.
3. Amazon Web Services Releases Blockchain Frameworks For Ethereum And Hyperledger Fabric
Amazon Web Services (AWS) cloud platform has recently introduced its Blockchain framework for Ethereum (ETH) and Hyperledger Fabric allowing users to build and manage their own Blockchain-powered decentralized applications (DApps), AWS announced in a blog post Thursday, April 19. According to the statement, users will be able to create their own Blockchain applications via the AWS CloudFormation Templates tool to avoid the time-consuming manual setup of their Blockchain network. Read more at CoinTelegraph.