View: 395
Want create site? Find Free WordPress Themes and plugins.

19 July 2017, A passionate digital currency backer says that Bitcoin is going to hit $500,000 during the next three years.

According to him, Bitcoin’s potential is not a joke, and that he is ready to take any bet to the contrary.

People were quick to respond:

One might think that McAfee is on the extreme end, but he is not the only one manifesting this much optimism for Bitcoin. Tom Lee – one of Wall Street’s biggest equity bears – also believes that Bitcoin is the new gold with a potential worth of $55,000 by 2022.

“One of the drivers is crypto-currencies are cannibalizing demand for gold GCQ7, -0.20%”, Lee wrote in a report. “Based on our model, we estimate that Bitcoin’s value per unit could be $20,000 to $55,000 by 2022 — hence, investors need to identify strategies to leverage this potential rise in crypto-currencies.”

That’s a major jump from $2530. Lee considers Bitcoin as a Gold, and the reason for this is the ever-increasing value and high demand of Bitcoin. Lee added, “Bitcoin supply will grow even slower than gold.” And, “Hence, the scarcity of Bitcoin is becoming increasingly attractive relative to Gold.” Lee also wrote, “This is a game changer, enhancing the legitimacy of the currency and likely accelerating the substitution for gold.”

Today’s value of Bitcoin is $2303.28, which reached $3018 on June 11, 2017. However, the drop is just being touted as temporary, and Bitcoin is expected to pick up the pace again in the coming days.

Story Credits: MarketWatch

Did you find apk for android? You can find new Free Android Games and apps.

Leave a Reply

Type Comments Here

Your email address will not be published.

six + ten =

Share Your Toughts

View: 404
View: 414
View: 387

Federal Reserve Governor talks about Crypto-Market Volatility

Want create site? Find Free WordPress Themes and plugins.

According to the Federal Reserve Governor, Lael Brainard, the central bank is examining the intense volatility of cryptocurrencies, especially Bitcoin, however, she doesn’t think that virtual currencies stance a present threat to financial stability of US.

These remarks were made by Brainard on 3rd April, during a speech at Stern School of Business in New York. She alerted investors to be careful about speculative asset classes, like; cryptocurrencies.

Brainard said:

federal reserve

“One area that the Federal Reserve is monitoring is the extreme volatility evidenced by some cryptocurrencies…. For instance, Bitcoin rose over 1,000 percent in 2017 and has fallen sharply in recent months. These markets may raise important investor and consumer protection issues, and some appear especially vulnerable to money-laundering concerns.”

“As in other highly speculative markets, individual investors should be careful to understand the possible pitfalls of these investments and the potential for losses. But it is less clear how the valuations of cryptocurrencies currently could pose a threat to financial stability. Nonetheless, we will continue to study them,” Brainard continued.

Risk Factors

According to Brainard, the perils related to the banking sector and traditional asset classes like bonds and stocks are balanced by the past standards due to the modifications that were introduced after the financial crisis of 2008.

She also said:

“Credit growth is robust, and banks are registering strong profitability relative to their international peers.”

Jerome Powell Views

The opinion of Lael Brainard on cryptocurrencies resounded the thoughts of Jerome Powell, who is the Federal Reserve chairman.

In November 2017, Powell said:

“I have nothing against bitcoin… We generally look at some of the risks of cryptocurrencies associated with money-laundering and those sorts of issues, but we’re not broadly opposed or supportive of alternative currencies.”

Latest comments from the Federal Reserve follow the price swings of bitcoin and other digital currencies, that sustained momentum for few weeks. However, during the past four weeks, the price of bitcoin plunged more than a few times.

Although these inconsistent fluctuations in the price of Bitcoin have scared some investors, cryptocurrency “preachers” still remain bullish, as they say, that the recent slump in the market is momentary, and only the result of “sharp regulatory scrutiny” in major markets such as South Korea.

Bitcoin Prediction

The Former COO of Skype, Michael Jackson said:

“Regulators seem open-minded and are now working to eliminate the risks for consumers…. So, I see no reason why bitcoin shouldn’t fulfil its dream. And if it does, then recent price falls will appear trivial.”

Jackson earlier said that the price of bitcoin could shoot up to $1 million, as he believes that its value as a payment method is irrefutable.

 

Did you find apk for android? You can find new Free Android Games and apps.
View: 400

Bitcoin – What Are Some Intriguing Facts About the Most Popular Digital Currency?

Want create site? Find Free WordPress Themes and plugins.

Bitcoin is a form of digital money – also known as cryptocurrency that is free from the influence of any bank or governing authority. Bitcoin is used to make transactions anonymously on the global scale. The currency was created by a group called Satoshi Nakamoto and first came into circulation in 2009. The identity of group members is still unknown.

The usage of Bitcoin is increasing and the number of people making Bitcoin transactions is growing each day.

If you are one of the people who feel fascinated by this form of money and want to discover more about it, here are some intriguing Bitcoin facts for you.

Bitcoin facts:

There Is No Authority to Control This Currency:

You might be surprised to know that there is no entity that controls Bitcoin. The general concept of money is that it is controlled by a bank or other concerning authorities. But this is not the case with Bitcoin. The currency is autonomous from all sorts of regulatory authorities. The only person who can control the coins is the one who owns it.

Bitcoins Are Finite:

As bitcoins are not printed into cash or molded into physical coins, most people think that there should be an infinite number of bitcoins in existence. But this is not the case because if it were true, the coins would lose their worth. In order to keep them worth having, bitcoins are kept finite. The exact number of existing bitcoins is 21 million.

Bitcoin Has No Set Values:

There are no set values on Bitcoin. In fact, how much a bitcoin is worth depends on the popularity of the currency. The more people use it, the more it appreciates in value.

Bitcoin is Transparent:

Bitcoin is completely transparent in terms of transactions and amount. Each and every detail related to a transaction is available on blockchain. This openness, as a result, induces trust and security among the Bitcoin users.

Bitcoin Mining:

In Bitcoin mining, the users are supposed to solve mathematical problems using a specialized software to verify transactions around the globe. The users in return, are paid if their efforts were successful.

Want to learn more about Bitcoin mining, read our guide on what is Bitcoin mining and how does it work.

Bitcoin Transactions Are Irreversible:

The Bitcoin transactions are irreversible and a user can never be forced to pay. Once the bitcoins are paid, there is no way to revoke the transaction or force the receiver to pay back your coins.

It Costs Little to No Money to Make a Transaction:

Bitcoin transactions cost little to no money. There are no taxes on the currency and it doesn’t matter to which part of the world you send the money, there are no cuts on transactions and the receiver gets the exact amount that was sent to him.

Lastly -Bitcoins Are Stored in Digital Wallets:

Bitcoin wallets are equivalent to bank accounts for real cash. These wallets are used to store, withdraw and transfer bitcoins from one wallet to another. The wallets are protected by a security key and only the owner can know about it until he reveals it someone else.

Tags: digital currency bitcoin

Did you find apk for android? You can find new Free Android Games and apps.
View: 437