Experts Predict Bitcoin Will Double in Value by the End of the Year
Despite recent price woes, experts are predicting that Bitcoin will double in value by the end of the year.
Bitcoin Price Stagnant, but Not for Long
As of late, uncertainties with regard to regulations and the seizure of Bitcoin in legal cases like Mt. Gox, which led to the unloading of coins on exchanges, has caused some stagnation. This means that, according to experts, the short-term crypto forecast is expected to remain relatively static — though not for long.
“I believe Bitcoin’s price will continue to fluctuate between ,500 and ,500 in the coming weeks,” David Hanson, a blockchain expert and CEO of the gaming platform Ultra, told the Independent. He continued:
“In the medium-to-long term, Bitcoin’s value should go up, as big institutions enter the crypto space in a bid to gain first-mover advantage, further legitimising the market.”
This idea that institutional investors will provide a boost to the digital currency (and altcoins) is shared by other figures in the space, who are looking at the cryptocurrency to break the ,000 barrier again in coming months.
Despite the drop from almost ,000 in December, and the fact that the number one crypto has not gone above ,000 since March (though it came awfully close in early-May), more people and companies alike are getting interested in the coin — and this is set to show, according to Iqbal Gandham, the U.K. managing director of eToro.
“As the regulatory landscape clears up we can expect far more investors, including big ticket institutions, to make their first cryptocurrency investments,” he said. He went on to say:
“For the first few months of this year, the crypto industry has been jogging along at a relatively slow pace, waiting for the opportunity to stretch into a sprint. This may just be that moment.”
Bitcoin Predictions Look to 95% Gains by Year End
At the beginning of the year, following the register of all time highs for Bitcoin and other cryptocurrencies at the end of 2017, price predictions were very positive. Tim Draper, an early backer of Tesla, Skype, and SpaceX, and one of the most high-profile Bitcoin investors, said that it could hit 0,000 by 2022.
Although Draper did not disclose the method he used to calculate his forecast, a comparable number was provided by Horizon Kinetics’ Murray Stahl, who argued that the digital currency could be worth the value of all the currency in the world. He believes this is the case because fiat money can be ‘debased,’ but there will be only 21 million Bitcoins ever made.
Another person with positive price predictions is Alistair Milne, the self-described ‘Bitcoin evangelist.’ Milne has stated that he believes Bitcoin will reach between ,000 and ,000 by the end of 2019.
Following Milne’s lead, similar numbers were suggested by a panel of crypto experts put together by price comparison site Finder.com, who originally stated that Bitcoin would hit ,000 by the end of this year. This week the panel released a revised figure, bringing the prediction to less than half the initial outlook at just ,638 — but those are still great gains on Bitcoin’s current price of just under ,700, according to CoinMarketCap.
Featured image from Shutterstock.
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EOS Bug Bounty Launch Raises Questions From Industry Experts
The mainnet launch of EOS is inching closer. As such, the developers want to ensure there are no lingering bugs or fatal flaws for hackers to exploit. A bug bounty program has been created which rewards ,000 for every bug discovered and shared. This is a positive development, even though the venture also receives some backlash from industry experts.
The EOS Bounty Program
It is commendable to see developers pay attention to project security. Especially in the world of blockchain and cryptocurrency, security is quite important. Developing a bounty program to uncover any code bugs is a big step in the right direction. For the EOS team, it seems this is a smart decision which will improve the project prior to its main net launch.
Help us find critical bugs in #EOSIO before our 1.0 release. K for every unique bug that can cause a crash, privilege escalation, or non-deterministic behavior in smart contracts. Offer subject to change, ID required, validity decided at the sole discretion of Block One.
— Daniel Larimer (@bytemaster7) May 28, 2018
The team hopes to find any unique bugs which may be present in its code base. EOS doesn’t need any issues crashing the network or giving unauthorized users special privileges. All bugs can be submitted to Block One, and the reports will be validated by this entity as well. Users who submit a bug for the reward will need to provide a valid ID to verify their identity.
Contrary to some reports, there is no delay in the release of EOSIO v1. While some issues were discovered by researchers, most of the problems have been addressed already. That is a positive development and confirms the commitment of the team. There are still some issues which are in the process of being fixed. Which issues those are exactly, remains to be seen.
Charlie Lee Shares Some Thoughts
Any bug bounty program in the cryptocurrency world deserves to be applauded. However, such ventures will also face some criticism, for rather obvious reasons. Charlie Lee, the developer of Litecoin, has some intriguing remarks regarding the EOS bounty program. More specifically, he thinks the rewards offered for finding and sharing bugs are on the low side. The EOS project raised over billion through its year-long ICO, after all.
Raises B, offers to pay only k for catastrophic bugs 2 days before mainnet launch. Strange.
And quite a few other concerning issues with EOS. See: https://t.co/C4HypNFet5
This will also be one of the biggest ERC20 token to blockchain launch. Should be an exciting day! https://t.co/Ey7mF10Dry
— Charlie Lee [LTC
] (@SatoshiLite) May 30, 2018
Moreover, this bounty is announced at an interesting time. The EOS mainnet will go live in the next two to three days. Asking users to look for bugs so close to the launch raises some very serious questions. Combined with the recent bugs discovered by researchers, it is only normal some people question this project in its current state. If it were to fail, it can quickly spell the end for EOS as a whole.
For now, users have to wait and see how things evolve. If no bugs are discovered, the mainnet launch will go off without a hitch. Even so, it doesn’t mean the technology will work perfectly out of the box either. These next few weeks will be crucial to the success of this project, yet nothing has been set in stone just yet.
Image from Shutterstock
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BitFlyer Cherry-picks Wall Street Experts to Dominate Crypto Market
BitFlyer founder is poaching Wall Street executives to fill the roles he sees necessary to build a crypto empire in the developing institutional market.
BitFlyer Hires Talent Away from Banking Giants
Yuzo Kano, a former Goldman Sachs trader himself, has been hiring talent away from Wall Street and other high finance addresses to create depth of experience in his own ranks as he looks to expand bitFlyer into the emerging institutional crypto market.
Regulation reform throughout early 2018 has made Japan the prime location for expanding crypto exchange services globally as the government has given the go-ahead missing in most other countries including the US and Britain. This regulatory OK makes the transaction from traditional banking to the crypto world a less daunting move for mid-career experts.
Bloomberg reports,
“Kano’s team, which includes a former fixed-income desk head at Barclays Plc and an ex-senior private banker at Credit Suisse Group AG, has doubled to more than 150 people in the past six months and is on pace to top 300 before year-end.”
BitFlyer has tripled its users since 2017 to 2 million and thanks in part to Bitcoin margin contracts that have proven popular with Japanese day traders the exchange has averaged about 2 billion a day through April into early May. The exchange already has offices in Tokyo, San Francisco, and Luxembourg and is considering expansion that would include locations in Africa, Australia and other countries in Asia. Kano’s expansion plans reach further than new offices and beyond crypto trading to banking services like digital payment and advisory services for investors and startups interested in launching ICOs.
Kano Expanding bitFlyer into Institional Market
Speaking to Bloomberg from his offices in Tokyo’s Midtown Tower about his hiring spree among the worlds largest banks Kano said “I need to grow headcount. And those with the best skills come from global banks.” before adding “My target is to be number one in the world,”
BitFlyer’s high end editions are only a small part of its expanding team though as the company seeks coders who regardless of educational background, as long as they have proven skills, can make 0,000 a year due in part to the countries underpopulated tech sector. Kano broke down his new hires into two groups bankers in their forties looking for a change from the bureaucracy of finance and associates in their twenties eager for the pace of a startup.
As Kano takes bitFler into the growing crypto market developing around institutional money the very banks he, and other exchanges, have been poaching talent from a slowly moving towards the same space. Kano’s former employer, Goldman Sachs, started the first Wall Street based digital asset trading desk last week to enormous industry interest signalling it wont be long before other giants of finance following the crypto lure as well.
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The Long-Awaited Bitcoin Price Uptrend has Arrived, Experts Claim
There is a lot of positive momentum as far as Bitcoin is concerned. Even though the price is struggling a bit right now, experts are convinced things will keep improving. This recent Bitcoin price rise has caused a lot of speculation and confusion. It seems the upcoming technical upgrades, combined with big investors, are to blame for this sudden change of pace.
Everything Comes up Bitcoin
The year 2018 has not been too great for Bitcoin and other cryptocurrencies thus far. With a strong bearish trend during Q1 of this year, naysayers were convinced this would be the end for Bitcoin. In reality, it seems as if the markets are recovering pretty quickly. A temporary dip will occur regardless, as is only to be expected at this stage. Even so, the upcoming technical advancements for Bitcoin will make a big impact on this industry.
Scaling Bitcoin has been a pretty big problem for several years. It now appears we may finally see proper improvements in this regard. The lightning technology solves a lot of problems, although further developments are still warranted. At the same time, there are some positive regulatory changes which make Bitcoin a lot more appealing all of a sudden. Although regulation will always be a controversial topic, it does provide more legitimacy to this industry.
There is a second positive aspect to Bitcoin regulation. With big investors now paying attention to cryptocurrency big things are bound to happen. Proper regulation will attract institutional investors at some point. So far, George Soros and the Rockefellers have made their Bitcoin investment strategy pretty clear. Regulating Bitcoin gives it a more legitimate investment appeal, which is something the world’s leading cryptocurrency direly needs at this stage.
Will the Bitcoin Price Surge Continue?
That question is a lot more difficult to answer right now. With negative pressure forming on the charts, anything is possible in this regard. The overall trend for the Bitcoin price remains pretty positive, which is all anyone can ask for. Institutional investors will pour money into Bitcoin, especially if the prices drop a bit further. Moreover, it seems traditional industry entities, such as banks, are also looking into offering Bitcoin trading services later this year.
One of the companies doing so is Goldman Sachs. The firm recently made an important hire to explore the option of setting up a Bitcoin trading desk. These plans have not been finalized at this point, yet they paint an interesting picture. UK bank Barclays is also thinking along the same lines, but has not officially made any announcements regarding an imminent launch.
Keeping the bigger picture in mind is always important when it comes to Bitcoin. This volatile cryptocurrency has seen solid upward momentum since its inception. It seems evident this trend will continue unabated, at least according to cryptocurrency experts.. In their opinion, reaching ,000 is the next psychological barrier waiting to be broken. When that will happen exactly, remains unknown.
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Fear and HODLing at MIT: Blockchain Experts Weigh Impact of SEC Action
The SEC may cast an even wider net on the crypto space than thought just a week ago, but many remain optimistic about regulators’ growing involvement.
CoinDesk
Experts Expect Bitcoin Price to Hit $250,000 by 2022, Here’s Why
American venture capital investor Tim Draper, an early backer of Tesla, Skype, and SpaceX, is one of the most high-profile Bitcoin investors. With absolute confidence that bitcoin is the future currency, Draper announced that he predicts the bitcoin price will reach 0,000 by 2022.
Tim Draper Predicts Bitcoin at 0,000 By 2022
Tim Draper has thrown a cryptocurrency celebration on Thursday, called Blockparty, not to be confused with British indie rock band Bloc Party. The party poster, which was placed in front of his entrepreneurship program, Draper University, made a bold statement: “Tim Draper Predicts Bitcoin @ 250K By 2022”.
The billionaire investor has bought 30,000 Bitcoin in a US Marshals auction in 2014. That amount of cryptocurrency is currently worth about 0 million. If his prediction turns out to be correct, Tim Draper can expect his Bitcoin portfolio to be valued at .5 billion by 2022. Draper has said that he will never sell it in exchange for fiat money: “That’s like saying I’m going to take the present and future and turn it into the past. I’m not an antique buyer”, he told documentarian Sharad Kharé in a recent interview.
He announced on Twitter the bold prediction, but a typo jittered his social media following: “Serious winds (of change) at our block (chain) party last night. Predicting bitcoin at k by 2022”, he first wrote before correcting the number by adding an extra zero to the future bitcoin price. “Oops! I predicted 0k in 2022. My tweet last night was missing a zero. 0k is the number!”
This is a typo!!!! pic.twitter.com/4PlGuME57U
— Al Solano (@GetRichOrDie) April 13, 2018
Oops! I predicted 0k in 2022. My tweet last night was missing a zero. 0k is the number!
— Tim Draper (@TimDraper) April 13, 2018
Tim Draper did not disclose the method he used to calculate his forecast of 0,000 by 2022. A “somewhat” close number was provided by Horizon Kinetics’ Murray Stahl, who argued that Bitcoin could be worth the value of all the currency in the world because fiat money can be “debased”, but there will be only 21 million Bitcoins ever made. This would amount to approximately 1,000 per Bitcoin, according to Barron’s estimate that the cumulative value of the world’s coins and banknotes is .6 trillion.
In the abovementioned interview with Sharad Kharé, Draper said he expects that, in five years, whoever tries to pay in fiat currency will be laughed at. This adds to his 2022 prediction. A world that will laugh at someone trying to pay in fiat currency is a world where Bitcoin is very likely established as the ultimate value investment. It might be hard to imagine such a revolutionary change within the next four to five years, but Tim Draper clearly does. The same way he imagined Tesla, Skype, and SpaceX, to be an invaluable part of our future.
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China Needs Better Regulation for Blockchain Growth, Experts Say
Industry experts spoke of the need for regulations and standards to boost blockchain growth at a Chinese event on Tuesday.
CoinDesk
Bitcoin Will See a Major Bull Run in 2018, Experts Claim
The year 2018 has been off to a bad start for all cryptocurrencies. Whereas some people already despair, good things will come to Bitcoin and altcoins. Various experts are convinced all of the top currencies will mount a strong comeback during late 2018. It is always important to keep the bigger picture in mind.
Top Crytocurrencies Will Continue to Dominate
There is a lot more to cryptocurrency than just the Bitcoin price. Unfortunately, the value of BTC dictates how the rest of the ecosystem will evolve in the coming months and years. Getting rich quick with cryptocurrency may not happen in 2018 as of right now. Even so, industry experts are not too worried about the current bearish market. In fact, one could say the markets are going through their regular volatility as of right now. BRD CMO and Co-founder Aaron Lasher comments:
“The game isn’t over, Digital scarcity is a major innovation in money and value, and we’re in the initial stages of a multi-decade trend towards tokenization of assets.”
Over the past seven days, all top currencies lost a fair amount of value. Declines range from 11.6% to 15.9%, with Ethereum getting the worst of it. Additionally, over 80% of the top 100 currencies ranked by market cap have decreased in value over the past week. Bitcoin is dragging everything down, as it always has in the past. This trend will not relent until the Bitcoin price effectively recovers the lost ground.
This is where things will get interesting later this year. It is not the first time Bitcoin has gone through a lengthy bearish cycle. At one point, the value per BTC dropped by almost 99%. Surviving that proved to be rather easy, hence this current dip doesn’t seem too problematic. These are still the very early stages for Bitcoin and other cryptocurrencies.
The Impending Bitcoin Bull Run
Several things are going Bitcoin’s way as of right now. The launch of ETFs allows institutional investors to speculate on cryptocurrencies. Although the demand seems rather low right now, things are gradually improving. With a regulatory body to be formed for these products, things can only improve from here on out.
Speaking of regulation, Bitcoin is still a hot topic among government officials. Any regulatory measure will legitimize the cryptocurrency industry as a whole. Not everyone is in favor of this particular trend, though, but it is a “necessary evil” to take this form of money mainstream in the future.
Currencies other than Bitcoin are still evolving as well. Ethereum is set to undergo some big changes, including a switch to proof-of-stake. Additionally, there are rumors Vitalik Buterin may effectively introduce a hard cap supply for Ether. Ripple is still making inroads in the financial sector as well. Litecoin has seen a few setbacks due to Litepay falling apart, but the currency will bounce back eventually.
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GIFcoin’s Advisory Comprises Top-notch Cryptocurrency Experts
The cryptocurrency industry is no different from other industry segments, except for the use of a revolutionary technology to get things done in a more efficient manner. It has been proven by the rise of cryptocurrency based online gambling platforms. VitalBet is one such platform that was launched in 2015 as just another gambling website. But the platform, realizing the changing landscape with the introduction of Bitcoin and other cryptocurrencies decided to adopt the new payment method early in the game. But, that’s not the end as the platform continues to look for new ways to stand apart from the rest.
Now, the platform has taken another step further to create a Gambling Investment Fund. GIF, in short, the investment fund is powered by GIFcoin tokens, which is an ERC20 crypto asset. The platform is raising the capital for the investment fund by organizing a crowdsale where anyone can purchase the platform’s GIFcoin tokens. The funds thus raised will be used to create a much more robust VitalBet 2.0 platform, along with mobile apps and lots of other exciting offerings.
GIFcoin holders, by way of possessing the tokens and supporting the growth of VitalBet stand to receive a portion of the revenues generated by the platform. This revenue share model in an already operational project makes it an attractive option for those who are keen on participating in crowdsale.
In order to ensure success, the GIFcoin team is not leaving any stone unturned. In addition to their own firsthand experience operating an online gambling site, they are using all the help and guidance they can get to create a global leader in online betting. Guiding GIFcoin is a strong advisory team, made up of top-notch cryptocurrency and blockchain experts.
These advisors, coming from diverse backgrounds have one thing in common. Their connection to cryptocurrencies and blockchain technology at one stage or another. Starting with entrepreneurs like Stefan Stefanov, Nikolay Shkilev and Mofassair Hussain, who have started multiple successful ventures in the past, the advisory board includes a lawyer, top strategists, marketing and management experts and investment bankers.
Stefan is an eminent growth hacker known for operating one of the best marketing agencies in the world. Similarly, Hussain is a Chartered Management Accountant and the founder of Perhalic, member of the Israeli Blockchain Association, Ambassador to Humaniq and a lot more. Shkilev is another entrepreneur with multiple successful and profit-making startups under his belt.
Reuben Godfrey is a versatile advisor who has donned many hats. He has worked in the past in business development, sales, and other finance and operation roles. Ricky Tapia and Tyler Sanford are big in strategy, analysis, public relations and other relevant areas that when done right can turn any crowdsale into a success.
And then there is Rumen Slavchov – an investment banker who has experience in both mainstream and cryptocurrency investing and knows the market better than most people. Vladimir Nikitin brings the legal perspective to the project, which is much needed due to the industry segment and nature of the business.
The dream team of advisors, combined with a dedicated team of professionals working on the platform has turned the GIFcoin token sale into an event that can’t be ignored. Those interested in being part of the initiative can find more information about the project at – https://www.gifcoin.io/
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