Coming into the first quarter of 2020, offbeat asset bitcoin is already proving to be the year’s best investment.
The benchmark cryptocurrency’s upside run has returned roughly twenty-fold returns in January. Its rate peaked at over $9,190 on Coinbase exchange on the 19th. In comparison, it was trading at a mere $6,300 on December 18th, 2019.
Many in the finance industry believe that the ongoing bitcoin price rally is a farce – a classic speculative bubble that would sooner or later leave investors under sizable losses. That includes a famous economic forecaster, Peter Schiff, who sees no foreign capital entering the bitcoin space.
Instead, he believes speculators within the cryptocurrency industry are driving the value upward.
Heightened geopolitical risk has resulted in both gold and Bitcoin moving higher, but for different reasons. #Gold is being bought by investors as a safe haven. #Bitcoin is being bought by speculators betting that investors will buy it as a safe haven.
— Peter Schiff (@PeterSchiff) January 3, 2020
But then, there is another section that wholeheartedly validates the price rally as organic. They include enthusiasts that treat bitcoin as a long-term investment against inflation and investors who see the cryptocurrency’s growing prominence as
“safe-haven” on Wall Street.
It is the same trust that has made bitcoin the best performing asset of the last decade with its astonishing 9 million percent rise. Whether speculative or real, the gains have left investors under a spell. Meanwhile, the market is serving more bullish narratives for the year 2020, many of them predicting the bitcoin rate to close above its historical high of $20,000.
Let’s look at three reasons that could send the cryptocurrency to a new top.
Dominance
The first money that comes into the bitcoin market is from the neighboring assets themselves. The failure of many altcoin projects since January 2018 prompted investors to dump them to repurchase bitcoin, leading to a rise in its dominance.
The latest scenario shows that traders are too afraid to venture into illiquid altcoins. And those who are already exposed to some are exiting it for long-term trustworthy blockchain projects. Bitcoin, in particular, is likely to grow its control over the cryptocurrency market to 90 percent. As of now, the dominance is near 67.7 percent.
Bitcoin dominance over the years | Source: TradingView.com, CoinMarketCap
The altcoin market is worth about $71 billion. Even a small shift to bitcoin could propel its price above $20,000.
Technical Indicator Flashing “Bullish”
The latest upside push in bitcoin has sent the prices testing a crucial technical resistance. On a daily timeframe, the 200-period moving average (200-MA) is holding bitcoin from pursuing a 235 percent bull run, according to its historical behavior, as shown in the chart below.
Bitcoin closing above 200-MA could send the prices towards $20K | Source: TradingView.com, Coinbase
A successful break above the MA looks more likely to happen as bitcoin’s demand ahead of the May 2020’s halving event grows. It could land the cryptocurrency near the $20,000 level in/by the end of 2020. The post appeared first on NewsBTC. origin »
Data shows the Bitcoin mining profitability has dropped down to just 2020 levels, here are some reasons behind this trend. Bitcoin Daily Miner Revenues Declined Almost 10% In Last Week Alone As per the latest weekly report from Arcane Research, BTC miners are now making just $17.
Data compiled by Arcane Research shows the Bitcoin 14-day moving average hash rate now exceeds 100 EH/S – a level last seen in May 2020. From this, the data analysis firm concludes that the China mining exodus is finally complete.
The entire asset class is tied together. Whenever Bitcoin rises there is a certain inevitability of other altcoins rising along with it. It happened in 2017 and now it is happening in 2020.
Over thThe post Data clarifies why 2020 is a defining year for Bitcoin appeared first on AMBCrypto.
From Microstrategy’s $500 Million investment in Bitcoin to PayPal’s integration of crypto, in the past three months, we have seen it all. November 2020 is unlike any month since 2018. Bitcoin is tThe post How would you trade $1000 in BTC, ETH, and other alts in Nov 2020? appeared first on AMBCrypto.
Bitcoin is stuck in an ever-tightening range between $10.5K and $10.8K and appears set for a breakout, though options trading suggests $16K might represent an upper bound in 2020.
As of 20 September, Bitcoin's difficulty has been adjusted by ~11.35%, with the hash rate subsequently hitting a new ATH of 143m TH/s. This was the largest positive adjustment in the year 2020, and itThe post Bitcoin's largest positive difficulty adjustment of 2020 and what it means for the price appeared first on AMBCrypto.
This is the second time the bitcoin price has soared past the $12,000 milestone in 2020 – it still has a way to go before it closes in on the 2019 record.
With 2020 proving to be a year quite unlike any, there is a lot of debate around how cryptocurrencies can emerge quite successfully amidst the extreme uncertainty that has taken over the economy. For The post Can Bitcoin take over corporate treasuries in 2020? appeared first on AMBCrypto.
Биткоин в 2020 году является самым прибыльным активом в 2020 году, превосходя преследователей почти в два раза. Такие данные исследования привел сооснователь аналитической фирмы Fundstrat Том Ли. #Bitcoin Bitcoin is best performing asset class in 2020, beating Treasuries and Gold, both up an impressive +21%, +13% — Bitcoin top performer in 2019 — the ‘halvening’ […]
With the global disruption lately, you may not have noticed that Q1 is coming to an end. But tomorrow kicks off the start of the second quarter–traditionally bullish for Bitcoin. Will 2020 deliver? Will Q2 2020 Be Bullish for Bitcoin Once More? Let’s be honest, investor confidence is hardly at an all-time high.
Одна из крупнейших биткоин-конференций Bitcoin 2020 в Сан-Франциско должна была состояться в конце марта, однако из-за коронавируса перенесена на третий квартал этого года. An important announcement regarding Bitcoin 2020.
Following the rapid escalation of COVID-19 in California and worldwide, Bitcoin 2020 has been postponed from March 27 and 28, 2020, to Q3 of 2020.
The post POSTPONED: Bitcoin 2020 Is Moving to Q3 2020 appeared first on Bitcoin Magazine.
Guide on How to Earn Your First Bitcoin in 2020 The year 2020 is just too great for Bitcoin: from the beginning of the year, Bitcoin is up more than 30%, meanwhile crypto investors argue on Twitter, how far the world’s main cryptocurrency will go and whether 2020 will be a new record year for […]
The post Guide on How to Earn Your First Bitcoin in 2020 appeared first on BeInCrypto.
Bitcoin price is currently hovering around $9,000 after surging over 21% to date in 2020. With Bitcoin reward halving coming up in May 2020, investors are extremely excited to see if this historically bullish event will end up pushing BTC to the moon or as some commentators say a dump because halving is priced in. […]
Bitcoin could establish a new all-time high above the $20,000 level in 2020 as it hits crossroads with a bias-defining indicator. The benchmark cryptocurrency’s latest move uphill prompted it to retest its 20-weekly moving average on Wednesday.
While 2020 is just around the corner, everyone from the cryptocurrency industry has been speculating Bitcoin's price movement for the next year. Former Wall Street trader and a prominent influencer inThe post Bitcoin could fall below $6K in the Q1 of 2020, according to this analyst appeared first on AMBCrypto.
Bitcoin price went through a pre-Christmas rally, with prices vaulting the $7,500 level. BTC also saw a collection of factors that suggest 2020 may start on a bullish note. Bitcoin Price Avoided Crash to $5,000, For Now BTC, previously expecting to lag around $6,500 and slide further in early 2020, saw a relief rally late on Sunday, which erased the previous losses.
It has not been a fun time of late when it comes to the cryptocurrency market. Very discouraging bitcoin price has pushed transactions on the whole. However, it seems that there is about to be a change for good.
Bitcoin is the world’s first decentralized cryptocurrency which initially reared its shiny head into digital markets now way back in 2009. While regular currencies have a centralized authority which controls and prints them, Bitcoin was imagined as a community controlled currency that won’t have a single entity looming over it.
Один из крупнейших банков ФРГ Bayerische Landesbank (BayernLB) опубликовал исследование, в котором предсказал цену биткоина в 2020 году на основании соотношения резервов и прироста и моделей Сейфедина Аммуса и популярного аналитика Plan B.
Bitcoin (BTC) has been slow at surging above $4,000 although it has also managed to maintain its position there. This has made it hard to tell if it will be going up or down the next minute. However, a renowned analyst has projected that BTC will hit $55,000 by 2020 when the halving of its […]
The post Analyst Projects $55,000 Price for Bitcoin by 2020. Is this Possible? appeared first on ZyCrypto.
A few days ago, Bitmain, the largest ASIC hardware manufacturer in the world, has called off its plans to go public with an IPO at the Hong Kong Stock Exchange. The IPO was also the largest IPO related to the cryptocurrency industry.
Everybody knows that Bitcoin (BTC) is the foundation stone of the crypto world. It gave birth to an entirely…
The post Bitcoin Might Reach $55,000 After Halving in May 2020, In-Depth Prediction Model Suggests appeared first on Invest In Blockchain.
A new prediction model created by the market analyst PlanB shows that the price of Bitcoin can reach new all-time highs during 2020. Posted by the prominent trader PlanB here, the article states that the ever decreasing supply of Bitcoin is sure to affect the price of the token in the market. The whole prediction […]
The price of bitcoin may reach $55,000 USD sometime in 2020 or 2021, according to a new Bitcoin price prediction model — which factors in the decreasing bitcoin supply as a direct driver of market value.
More than 600 days ago, John McAfee predicted that Bitcoin was going to reach $1 million by 2020. On July 17, 2017, McAfee said on Twitter that when he predicted Bitcoin to reach $500,000 by the end of 2020 he used a model that predicted $5,000 by the end of 2017. As he explained Bitcoin […]
Andrew Yang is well-liked by the crypto community, considering his pro-Bitcoin stance that he is taking to his candidacy for the presidential election in the 2020 election year. Planning to run as a Democratic candidate, Yang has described himself as a “serial entrepreneur,” positioning himself as the “opposite” of current US President Donald Trump. Yang […]
Andrew Yang, the pro-Bitcoin 2020 US presidential election candidate, wants to pay every adult American a universal basic income (UBI) of $1000 a month, which would likely be very bullish for bitcoin price.
Bitcoin Twitter Loves Andrew Yang, Here’s Why There is a lot of hype building up around the U. S. presidential election of 2020. The Trump government continues to be controversial, so a lot of people are eager to know who has the potential to replace the current president. The Next Web’s Hard Fork has recently […]
On 17 July 2017, John McAfee made an insane Bitcoin price prediction when the price was trading around $2244. McAfee backed his prediction with a considerable promise on his twitter page and gave up to 2020 for this price prediction to come to reality.
The hype surrounding the US presidential election in 2020 is growing palpable, and one candidate, Andrew Yang, is getting significant attention from the cryptocurrency community. Yang, of the Democratic Party, is absolutely the favorite of internet memelords, but he isn’t the only one appealing to the blockchain crowd.
Analysis: The Bitcoin Market Will Moon Again In 2020 DD Think Tank, an analysis team under ChainDD, has recently published a comprehensive report, predicting that the price of bitcoin and other digital assets will only begin to experience a real bullish surge in 2020.
Japanese regulators have reportedly approved draft amendments to the country's financial instruments and payment services laws, introducing stricter regulations for margin trading of digital assets.
The Stock Exchange of Thailand (SET) published a document on March 13, 2019, where they outlined plans to modernize and transform the Thai capital market, and one of the steps in that plan involves the rolling out of a digital assets trading platform in 2020.
Cyprus police have warned the public about a surge in SMS scams impersonating a crypto exchange. Cyprus police have issued a warning about a rise in SMS fraud targeting crypto investors, with scammers impersonating the Binance crypto exchange, Cyprus Mail…
Spot Bitcoin exchange-traded funds in the United States flipped to net weekly outflows over the past week, ending their six-week inflow streak that brought in over $5 billion. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $585.65…
Omni Network has integrated Superstate’s tokenized U. S. Treasuries fund, adding it to its balance sheet as part of efforts to optimize treasury management. The interoperability protocol announced the partnership with Superstate on Feb.
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Spot Bitcoin exchange-traded funds in the U.S. saw a sharp rise in outflows on Feb. 12 amid expectations of a more hawkish Federal Reserve stance on interest rate cuts. According to SoSoValue data, the 12 spot Bitcoin ETFs recorded $251.03…
Crypto exchange Bybit and Block Scholes, a London-based research firm, have published a new report analyzing why the much-anticipated altcoin season has yet to arrive during the current market cycle.