Standard Chartered has raised its bitcoin forecast, predicting that the cryptocurrency’s price could reach 0,000 next year and 0,000 this year. The bank also adjusted its ether forecast as it anticipates the approval of a spot ether exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) in May. Standard Chartered’s Revised Bitcoin Price […]
Bitcoin News
Tim Draper Adjusts Timeframe for His $250K Bitcoin Price Forecast
Venture capitalist Tim Draper has adjusted his projected timeframe for bitcoin’s price to reach 0,000. Maintaining an optimistic outlook, Draper still expects the world’s largest cryptocurrency to reach his predicted price target but acknowledged that it may take “a little longer.”
Tim Draper’s 0K Bitcoin Price Forecast
Venture capitalist Tim Draper has adjusted the projected timeframe for his bitcoin price prediction. He tweeted Friday that when the price of bitcoin was ,000, he predicted that it would climb 60 times and reach 0,000 by now. However, BTC ended June below ,000. “I guess we have to wait a little longer,” he wrote, adding that it may take two more years for his 0K prediction to come true.
Draper previously predicted that the price of bitcoin would reach 0K by the end of 2022. However, he acknowledged on Dec. 31, 2022, that his “0k by 2022” forecast for bitcoin was “off by a bit.” Nonetheless, he insisted that the price of BTC will “certainly” reach the predicted level before the halving in 2024.
See t-shirt. 0k by 2022. My prediction was off by a bit. Hasn’t made it there…yet. Certainly before the halvening. #truebelievers #bitcoin #worldoftrust #freedom #hodl pic.twitter.com/jMLi8rraj8
— Tim Draper (@TimDraper) December 31, 2022
When his forecast did not come true in December last year, he extended his BTC price prediction timeframe by six months to mid-2023. He told the Observer that if that still does not happen, then he is certain bitcoin will reach the 0,000 milestone before the end of 2024. He stated: “I am almost 100 percent sure I will be right in 18 months.” The venture capitalist also expects the price of bitcoin to soar past his estimate due to adoption by women.
According to his tweet on Friday, Draper now believes that it could take until the end of June 2025 for bitcoin to reach the 0,000 price point.
Draper also recently raised concerns regarding cryptocurrency regulation and criticized the enforcement approach taken by the U.S. Securities and Exchange Commission (SEC).
“Regulation by enforcement is killing our economy. It is killing China too,” he tweeted on June 20. During an interview with Fox Business on June 12, he criticized the securities regulator and its chair, Gary Gensler, for taking an enforcement-focused approach to regulating the crypto industry, stating:
I think we’ve got a real problem because the SEC has been spreading fear and all of the innovators are leaving the country … This regulation by enforcement makes no sense.
When do you think Tim Draper’s 0K bitcoin price prediction will come true? Let us know in the comments section below.
Bitcoin (BTC) May Hit $250K, Predicts Morgan Creek Capital Founder
Many believe Bitcoin will bounce back to break the ,000 price mark. But Mark Yusko seems to have a bigger picture of the token’s future price. Mark Yusko is the CEO, founder, and chief investment officer of Morgan Creek Capital.
In his speech, the price of Bitcoin could get to 0,000 in the next five years. One reason for this possibility is that Bitcoin has gone past being a valued token. Unfortunately, many investors fail to see it from this perspective. He revealed this information in an interview held in June 2021.
Related Reading: Bitcoin Supply In Profit Continues Decline, But Still Not At Historical Bottom Zone
As per the recent industry gossip, Yusko still stands his ground on the future price of Bitcoin.
BTC Historical Performance (Halving Events)
There’s another way to look at the possibility of Bitcoin’s massive growth in the future, says Yusko. This has to do with its historical performance for every halving event it experiences.
Bitcoin follows a particular trend of adding a zero for each halving event. The halving brought it to ; after the second, it became 0. The third and fourth halving brought to ,000 and ,000, respectively. In light of this, the next possible price of the token will be 0,000.
Briefing On Bitcoin Price History
Despite the bearish market, it’s clear that Bitcoin has witnessed significant growth from the time of launch till date. In 2013, BTC hit 0 for the first time and rose to 0 on April 8. After several fluctuating movements in its price, it spiked to a short-lived ,237 price mark in December 2013.
2014 and 2015 were not very eventful for the token as it plunged through 2014. BTC greeted 2015 with a price slightly above 0, though it gradually climbed before the year ran out. It sustained the growth throughout 2016 and ended it at a price of approximately 0.
The token’s value kept rising regardless of the ups and downs it witnessed over the years. It eventually hit its all-time high of ,789 on November 10, 2021, and ended the year at ,995.
The token price between January and March 2022 started another dipping round. At the end of March, it dropped to below ,500. Although it maintains a steady up-and-down movement, its price is now down to ,096, as per data from TradingView.
Bitcoin’s price is currently trading below ,000. | BTCUSD price chart from TradingView.com
The Trigger For The Next Bull Cycle
The investment officer, founder, and CEO of Morgan Creek Capital has also expressed his thoughts about the trigger for the next bull cycle. He revealed this information in an interview on YouTube captioned Thinking Crypto, released on September 22.
Related Reading: Here’s Why This Expert Thinks Bitcoin Prices Might Fall
In his speech, he believes that the Fed will desist from its quantitative tightening in no distant time. This will trigger a bull run in the global crypto market.
Featured image from Pixabay and chart from TradingView.com
NewsBTC
Mars4 Metaverse NFT Sale Raises Over $250k in a Day: The World’s First Virtual Mars NFTs Are Selling Rapidly
Mars4 is a multi-tiered project that combines NFTs, Crypto and an immersive survival game together that will provide a window to a virtual Mars and a broader range of investment opportunities via the world’s first revenue-generating NFT.
The sale of Mars4 NFTs raised over 0K in a day and saw land plots sell swiftly via the Epoch System.
Epochs: Tiered Crypto Returns
Mars4 NFTs represent geographically-exact plots of land across the face of Mars, created with data from NASA and other space agencies, to be fully realized in modern 3D graphics. The Mars4 NFTs are released as part of the Epoch system that uses a scarcity model to establish its pricing.
The Epoch system is a tiered system that rewards investors in stages, offering better returns the earlier one decides to invest. To familiarise potential investors with the Epoch system, below the Epoch system is detailed in greater depth:
Investors who have purchased Mars4 land NFTs during or before the current Epoch (Epoch 1) will receive 51% of the earnings of the next Epoch (Epoch 2), redistributed in Mars4 Tokens (‘Mars4 dollars’) in one lump sum after the NFTs under that Epoch are sold.
The Epoch System extends from Epoch 0 to Epoch 5 with each Epoch containing a fixed range of NFTs. After an Epoch ends, income generated from that Epoch is always redistributed to NFTs owners who invested in any and all previous Epochs. This system is applied throughout, providing greater returns to investors who hold earlier Epochs.
With over 56,000 NFTs sold, only around 3,000 NFTs remain before the Epoch’s first stage redistribution kicks in. Once Epoch 2 is reached, investors holding the NFTs sold prior to Epoch 1 will receive 51% of the income from Epoch 2’s NFT sales in Mars4 dollars.
Integrating Mars4 Tokens: A Virtual Economy
Mars4 will be integrating both the Mars4 Token and the Mars4 NFT Land into the upcoming survival game set on the red planet, bringing an entirely new aspect to the investment value of Mars4 NFTs and creating an NFT that can generate revenue for its holders.
Each NFT Land sold is a virtual location that the game is set in, allowing holders and players to make use of their own personal space on Mars. This Metaverse will feature survival and colonization mechanics and reward landowners that build up thriving communities within their NFT land plots and provide returns in Mars4 Tokens for both player and investor.
In addition, the game will make use of the Mars4 Token as its core currency, building an entirely virtual economy that ties the Mars4 NFT to its own convertible token and allows players and investors to create real-world wealth on a virtual Mars.
Conclusion
As each Epoch of Mars4 is reached, the previous Epoch investors will continue to receive redistributed Mars4 Tokens, meaning that the best time to invest and benefit from the Epoch system is always now.
Fast-growing gTrade Platform Gets $250K Grant As It Closes In On First Major Milestones
Rapid organic growth has put Gains Network’s decentralized gTrade platform well on the way towards achieving the first major milestones on its roadmap. Now, armed with 0,000 in funding from the Polygon DeFi, its founders are confident it will soon hit its second set of milestones.
Gains Network is intending to build a blazing-fast and liquidity-efficient leveraged trading platform with a decentralized architecture on the Polygon blockchain, giving investors the benefit of lower fees and faster trades. gTrade currently offers 43 cryptocurrencies and 10 major Forex pairs. Its asset-agnostic synthetic trading architecture, which is powered by the minting and burning of its native GNS token, ensures investors benefit from median spot price leverage, no fees and zero price impact. The exchange also claims to offer the fairest prices, with each asset trade executed at the median spot price across multiple exchanges.
gTrade also has the huge advantage of not needing liquidity for each trading pair, with 100 percent liquidity settlements on all pairs backed by the GNS/DAI pool and the DAI vault.
Those benefits are clearly not lost on crypto investors, who have been flocking to gTrade in their droves. As a result, Gains Network said it is already close to hitting its primary goal of sustaining million in daily trading volume for 10 days, with a current average of million traded through its platform each day. It’s also on the verge of hitting its target of a maximum ,000 per-trade collateral enabled by its DAI Vault, with its current max sitting at ,000 per-trade collateral.
Other targets on gTrade’s roadmap include reaching million in GNS/DAI liquidity and million total value locked in the DAI Vault. The first of those objectives has already been reached, with gTrade boasting million in GNS/DAI liquidity, while the DAI Vault is getting close with .8 million in total value locked.
Gains Network has now unlocked 0,000 worth of MATIC tokens with its first Polygon grant, and once its initial goals have been reached it will receive a second, 0,000 grant to help it hit its next set of milestones. Those call for 0 million in daily trading volume, ,000 maximum per trade collateral, million in GNS/DAI liquidity and million staked in the DAI vault.
“It is a great pleasure for us to work with Polygon for this trading incentives program,” said Gains Network founder Sébastien. “Gains Network’s mission with gTrade has always been to provide an innovative, decentralized, and fair solution for leveraged trading.”
Kraken Supports Ethereum 2.0 Clients Team Alongside Five DeFi Projects With A $250K Donation Each
Kraken and five other DeFi projects contribute 0,000 each to support the teams that work on the Ethereum upgrade. In addition, they donated the sum to the ETH Foundation to develop the network’s version 2.0.
Open-source developer teams like Erigon, Besu, Nimbus, Geth, and Nethermind will join the ETH Foundation in the donation.
1/ A diverse execution-layer client ecosystem is at the heart of all that we’re building together.
Today, we're excited to announce that @compoundgrants, @krakenfx, @LidoFinance, @synthetix_io, @graphprotocol & @Uniswap are donating 0K each to support #Ethereum client teams.
— Ethereum (@ethereum) August 24, 2021
The Ethereum Foundation announced the source of the donations. They mentioned that the tips came from crypto exchange Kraken, Synthetix, the Graph, Compound Grants, and Uniswap Grants.
Related Reading | Blockchain Startup In Pakistan Dubbed Bazaar Secures Million In Funds
The donations will add to the funds the Foundation provided earlier back the layer teams of ETH execution.
The Funds Aim To Empower The Ethereum Team
The Foundation of what we build together incudes the various client ecosystem of Ethereum. It consists of the consensus layer clients and the execution layer; both are vital aspects of future Ethereum mergers. The announcement also reads:
“The donation sums up to .5 million and goes to open-source developer teams like Nimbus, Besu, Geth, Erigon, and Nethermind”.
The developer team is to make provision for the network’s critical infrastructure to see the transition of ETH. The ETH is to transit to proof-of-stake mechanism from a proof of work. An August 24th post on the Ethereum web page reads:
“In the heart of what we are developing together is a broad execution-layer client ecosystem. So today, we gladly announce that Kraken-fx, Uniswap, synthetix_io, graph-protocol, compound-grants, LidoFinance, and donates 0K each to support ETH 20 client teams.”
ETH is trading in a sideways momentum on the daily chart | Source: ETHUSD on TradingView.com
Jesse Powel, the co-founder and CEO of Kraken, says that the company is proud to give back to valiant builders who work hard on cutting-edge crypto innovation.
Kraken proposed that the exchange users would have staked up to 800,000 ETH in Eth2 by July. This is worth about .5 billion with current prices. The network platform had given out 25,300ETH as rewards emerging from staking when it started initially.
Related Reading | Kraken To Re-Enter The European Market By Applying For A New License
This project portrays an effort to ensure the security of Ethereum’s consistent growth and decentralization. Each of the elements is exemplified by the diversity of clients, our belief in Ethereum’s continued success, and the strength of the teams. The announcement revealed.
Etherscan Reports
The ETH Improvement Proposal (EIP) 1559 upgrade was launched early this month. It introduces a burning mechanism as an aspect of its regulated gas fee structure.
According to Etherscan data, about 4.85 ETH worth almost ,300 are burned every minute as of writing. Over 70,000 Ethereum (ETH) has been burned or removed from the network’s circulation.
Etherscan is a Block Explorer and Analytics Platform for Ethereum, a decentralized smart contracts platform. As of August 12, 31,792.48 ETH has been burned via Etherscan, amounting to ,871,306.11.
Featured image from Pixabay, chart from TradingView.com
NewsBTC
Bitcoin at $250k? Analysts Weigh in on Draper’s “Bizarro” Call
Two market analysts have said Tim Draper’s bold Bitcoin price prediction might not be as far fetched as it seems. The billionaire venture capitalist said recently that the leading digital asset would reach a price of 0,000 between six months and a year after the 2020 halving.
BKCM LLC’s Brian Kelly and Fund Strat’s Tom Lee both believe that Bitcoin will absorb capital from the gold market. The analysts are not sure that such a colossal figure is achievable is such a short space of time, however.
Analysts Agree: Draper’s 0,000 Bitcoin Isn’t Inconceivable
NewsBTC reported yesterday on billionaire investor Tim Draper’s most recent Bitcoin price prediction. Draper says that the digital currency will top 0,000 by the start of 2023.
Draper rationalised his position by stating that rising customer adoption of the digital asset would drive the stellar performance he forecasts. He also said that a growing distrust of the banking industry and financial system would contribute to Bitcoin’s growing appeal.
Appearing on CNBC’s Fast Money earlier today, two investment analysts have weighed in on the likelihood that Bitcoin can hit the high that Draper seems so sure about.
Founder & CEO of the digital currency investment company BKCM LLC Brian Kelly said that although the prediction sounds “bizarro”, Bitcoin is known for spectacular price runs, like those seen in 2013 and 2017. Kelly identified that Bitcoin has been trading within a channel since 2013. Extending that channel out to the end of 2022, the top is around the 0,000 per Bitcoin mark.
Kelly said that he agrees with the opinion of Draper and others that Bitcoin will absorb gold’s market share over the coming years. However, he added that he was not sure that the digital asset would reach the .5 trillion market capitalisation required to hit Draper’s predicted price by the start of 2023.
Could #bitcoin hit 0,000 in the next two years? @BKBrianKelly and @fundstrat's Tom Lee help us break down longtime venture capitalist Tim Draper's bold call. pic.twitter.com/dGW4nJL86f
— CNBC's Fast Money (@CNBCFastMoney) December 20, 2019
Next to weigh in on the Bitcoin price call was Fund Strat’s Tom Lee. Like Draper and Kelly, Lee is overall bullish on Bitcoin. However, he too is not sure about the tight time frame predicted by Draper. He said:
“I don’t know if 24 months is how long it would take… If it took 5 years, I think it would still be considered a huge, massive, surprising success.”
Looking slightly nearer into the future, Lee added that he was confident that an investment in Bitcoin would be the easiest way to make money from cryptocurrency during 2020. He said that regulatory uncertainty surrounding the industry will continue to diminish, inspiring confidence in investors, and that he thinks 2020 will be a better year than 2019 for the cryptocurrency. Given that Bitcoin started the year at around ,800 and currently trades in excess of ,000, Lee, like Draper, is clearly expecting some bumper returns on Bitcoin investments during 2020.
Related Reading: Bitcoin Exchange Outflow Spikes to 6M in 1 Day: Is Accumulation Starting?
Featured Image from Shutterstock.
The post Bitcoin at 0k? Analysts Weigh in on Draper’s “Bizarro” Call appeared first on NewsBTC.
Why This Billionaire Says Bitcoin Will Surge To $250k After The Halving By 2023
Venture capitalist Tim Draper has come out to say that Bitcoin will reach 0k by early 2023. His comments bring hopium at a time when investors are still smarting from what has been a testing period, these past few weeks.
Bitcoin investors relieved
Investors breathed a collective sigh of relief as Bitcoin managed to reverse the sliding trend. Currently, Bitcoin is trading at just above the critical k mark, having peaked at around .3k, before sellers showed up to drop the price.
The reversal has had the effect of injecting a sense of optimism in what was becoming a fearful market. Today, the Crypto Fear & Greed Index is still in extreme fear, with a reading of 21. But this is a marked improvement over yesterday’s sentiment.
![Bitcoin and crypto markets still reeling in fear](https://www.newsbtc.com/wp-content/uploads/2019/12/Annotation-2019-12-19-101158.png)
Bitcoin fear and greed index (Source: alternative.me)
The question is, has Bitcoin bottomed out? Or can we expect further drops below .6k? Tim Enneking, MD at Digital Capital Management, believes that a further slide in on the cards, citing a dominant descending trend and weak volume to justify his conclusion.
“It’s quite clear that BTC has not put in a bottom yet. The price has been in a descending corridor since the crazy 42% increase in late October. The prior low, around .6k, is almost certainly not going to hold (i.e., no double bottom) as the market is very weak in terms of recovery from that level and volume.”
Enneking goes on to say that he believes the bottom will likely be at k, or just below that figure. In other words, Enneking speculates that we were already close to the bottom at .6k.
However, according to analyst “CryptoBirb,” the Bitcoin bottom already came in with Tuesday’s drop to .6k. Indeed, according to the cycle peaks and troughs on his chart, the outlook for Bitcoin is exceptionally bullish, with the expectation of a parabolic rise to k by late Spring. Coincidentally, when the halvening occurs.
I'll just leave it here
pic.twitter.com/HCOWICUxq3
— Crypto₿irb (@crypto_birb) December 18, 2019
Will The Halvening Trigger A 0k Price Spike?
On that note, Bitcoin bull, Tim Draper, shares an equally bullish sentiment, going as far as to say that Bitcoin will reach 0k six months to a year after the halvening.
The halvening is set to occur 147 days from now, on May 14th, 2020. And as block mining rewards halve, from 12.5 to 6.25 Bitcoins on that date, some believe the deflationary aspect of that, coupled with consistent demand, will lead to a price rise.
"It looks like it will be something like six months to a year after the halvening that we will cross 0,000 per bitcoin…it is pretty likely we are going to hit 0,000 by the end of 2022 or early 2023." – @TimDraper.
Full interview: https://t.co/EBS4YpwKxO pic.twitter.com/wylZD9yHOJ
— BLOCKTV (@BLOCKTVnews) December 19, 2019
Draper explains that the spike to 0k will be driven by rising customer adoption of Bitcoin. While at the same time, implying that this is an inevitable reaction to a growing awareness of the banking cartels, and how they operate.
“It looks like it will be something like six months to a year after the halvening that we will cross 0,000 per bitcoin…it is pretty likely we are going to hit 0,000 by the end of 2022 or early 2023.“
The post Why This Billionaire Says Bitcoin Will Surge To 0k After The Halving By 2023 appeared first on NewsBTC.
Tim Draper Stands by His Bitcoin Price Prediction of $250K in 2022
n U.S. investor Tim Draper stands by his prediction that the Bitcoin price will surge to 0,000 in four years, calling for mass adoptionn
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Loom Blockchain Based Zombie Battleground Makes 250k Kickstarter Goal
Through a Kickstarter campaign, a group of developers are creating the first mobile blockchain-based game launched on top of the Loom network.
First mobile Blockchain based Game
Those who were fans of Magic the Gathering and other similar card-based adventure games may have already heard about Loom Network Zombie Battleground on Kickstarter. The game was added to the crowdsource funding sight in mid-June with a 0,000 goal which had to be made by mid-August. Now with still a month to go until its deadline the game has been fully funded and is ready to start handing out contributor bonuses.
Loom Network tweeted out a round of congratulatory applause to its contributors for making the first mobile game to run entirely on a blockchain network happen.
0k FUNDING GOAL REACHED!
Zombie Battleground will be the FIRST mobile game to run ENTIRELY on the blockchain.
If you've been slackin' — you STILL have time to join the Zombie Revolution
See you on the Battleground, champ!https://t.co/E9lrSVW4jt
— Loom Network (@loomnetwork) July 4, 2018
As the game has completed its goal early contributors to its Kickstarter campaign will see benefits from their support as early as next month. While the game will continue to distribute releases throughout 2018 with the goal of making a full release of the game with full features in May of 2019.
Zombie Battleground is based on the tradition of trading and collectible card games that saw their height of popularity in the nineties. Being blockchain based allows players to literally own their digital cards. The ability to buy, sell and trade cards in order to create perfect decks, according to the creators, is what separates their game from other online CCGs.
Blockchain Allows Gamers to Own their Digital Assets.
Using blockchain technology has given developers of the game the ability to add in features like provable scarcity for unique cards that users can buy and sell in the gaming marketplace just as one would with something like baseball cards in the real world. Developers of the game believe that by using the blockchain they have created a groundbreaking game that will disrupt the future of online gaming.
The developing team of more than fifty people who are spread around the world have been working under the guidance of game director Roy Shapiro who describes the game as “easily learned but very had to master”. Co-founder James Dufy expressed his thanks in a video on the Kickstarter site, acknowledging that online gamers have shown they want to own their digital assets by supporting Zombie Battleground.
Even though the game has made its initial Kickstarter goal, prospective contributors are still welcome to visit the site and get involved as Loom network has created new stretch goals that will add more cards and features to the games full release.
Featured Image From Shutterstock
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