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Legendary Investor: Bitcoin (BTC) Could Bottom At $3,000, Altcoins To Crash

“I’m Believe In The Bitcoin Narrative”

Peter Brandt, a legend in the commodity investment realm, recently sat down with CoinTelegraph to discuss his opinions on the current bear market. Although Brandt has traded traditional markets for decades, nearing five at this point, he lauded Bitcoin (BTC).

Discussing the bearish market conditions, Brandt first claimed that one of the “best things you can do [in trading]” is keeping your money intact, likely bashing the sentiment that “HODLing” or risky day trading can produce stellar profits in the long run. The American trader, who has authored a number of essential trading primers, added that while cryptocurrency diehards see “fiat” as a no-go, those who have “HODLed” government-issued currency have been “far better off than those stubbornly deciding that BTC will go to $100,000.”

And interestingly, Brandt, who currency touts 234,000 followers on his Twitter feed, noted that the active traders of today may “miss the big moonshot when it comes,” due to their penchant for using short-term indicators and viewing the market from a day-to-day perspective.

Although the trader bashed the idea of holding or trading cryptocurrencies in 2018, Brandt went on to explain that he’s becoming a “long-term buyer and holder of BTC.” However, in an apparent Bitcoin maximalist outburst, the CEO of Factor Trading added that he has “no time” for other “old coins” or macro caps, such as Ethereum (ETH) and XRP.

Touching on why he addresses the nascent crypto industry from such a perspective, Brandt noted that he’s a Bitcoin guy through and through, before quipping that he believes in the asset’s narrative — potentially as a digital store of value, or the world’s most secure transaction settlement layer. Further alluding to the theory that he’s not the biggest fan of altcoins, Brandt flat-out stated that he “thinks 98% to 99% of the coins out there are going to eventually be worthless,” even adding that his fellow pundits hold similar sentiment.

We Could Bottom Within Six Months, At $3,000 Per Bitcoin

When asked the age-old question about when the crypto market established a bottom, Brandt jumped on the question, as he was seemingly poised to give his insight to such a pertinent topic. He first explained that cryptocurrency markets are optimal for a chartist, as technical indicators actually give good insight.

As such, Brandt explained that according to his analysis of fractals, coupled with other indicators, he is calling for BTC to hit $2,900, but sees multiple scenarios that could be fleshed out. Firstly, he said that there’s a chance that the Bitcoin price won’t hit the aforementioned figure, as $3,000 is an extremely strong psychological level and a level of accumulation for long-term cryptocurrency advocates.

The other scenario, in the American trader’s mind, is that if BTC plunges below $2,900 with enough sell-side pressure, there’s a chance the asset could fall to $1,200 over a medium-term period.

Still, the Factor Trading chief noted that as lines can be drawn between 2014/2015’s cryptocurrency downturn and that of today, the market is likely entering its last leg of capitulation and despair — whether BTC falls to $2,900 or $1,200.

In closing, he doubled-down on his support for this budding asset, widely dubbed Digital Gold, by stating that he has 8% of his net worth in BTC, before stating that the cryptocurrency could find a bottom in the next six months, even at the low 3000s.

Title Image Courtesy of WEB AGENCY on Unsplash

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Tim Draper Doubles Down On $250,000 Bitcoin (BTC) Prediction, Cites Global Adoption

“All Times Are Good Times To Enter The Crypto Market”

Tim Draper, a legendary venture capitalist based in Silicon Valley, has long been a believer in Bitcoin (BTC), reportedly buying boatloads of the asset (a reported 40,000 coins) in 2014. And even while BTC has exploded in value since then, undergoing a bull run that sent cryptocurrencies ‘to the moon’, Draper has claimed that he hasn’t sold, as he still expects this newfangled asset class to boom in the long haul.

More specifically, speaking with CoinTelegraph, the “staunch” bull recently doubled-down on his $250,000/BTC price prediction, one of the most optimistic forecasts for the world’s foremost cryptocurrency.

Speaking on Bitcoin’s recent bout of capitulation, which saw the aggregate value of all cryptocurrencies fall under $130 billion, Tim, who runs a venture fund and entrepreneur-focused university that shares his surname, noted that the sell-off was simply a ‘fluctuation.”

He mused that this move, which proved to be devasting for retail investors, could have been catalyzed by market manipulators, before adding that bankers are “loving it” as crypto remains in a crisis, as such institutions have a vested interest in fiat. However, Tim, who parents a crypto-friendly venture capitalist, then explained that Bitcoin’s recent move lower could just be a byproduct of market cycles, potentially accentuated by external bearish pressures.

Adding to his sentiment that the decline isn’t out of the ordinary, Draper then noted that in any business, a disruptor — Bitcoin in the case of finance — often moves with immense volatility, even if the innovation holds immense value for the health of humanity.

Maintaining this optimistic thought process, Draper then noted that with 2018’s dip could “create a great opportunity for people to start becoming users of the currencies of the futures, crypto,” of course. Echoing claims he conveyed to Ran NeuNer of CNBC Africa’s “Crypto Trader” and OnChain Capital weeks ago, Draper alluded to the fact that fiat, tied to political forces, aren’t likely to survive.

Touching on this train of thought, the American crypto multi-millionaire stated:

I always look at a crisis as an opportunity. And that’s the way I’m looking at this one. All times are good times to enter the crypto market. If you are forward-thinking, you’re going to look and say ‘this is just better currency’, so it’s just a matter of time before the world adopts it. [This will happen] when everything I can do with fiat, I can do with Bitcoin.

Ardent Bitcoin Bull Draper Still In Love With Cryptocurrencies

Discussing the aforementioned point in-depth, Draper noted, dollars will eventually become irrelevant pieces of paper. More specifically, in Draper’s dream utopia, BTC usage in the real world won’t only be easy, but drastically more cost-effective than credit cards, which charge 2.5% to 4% on each transaction. He added that in the end, whether it be BTC or ETH, cryptocurrencies aren’t tied to a central bank, and aren’t subject to the whims of inflation and the flaws in human nature.

Keeping all this in mind, Draper then explained why he expects for $250,000/BTC to still occur sometime in the future. The venture capitalist first noted that the dollar will lose strength against BTC, while the aforementioned digital asset will begin to make up more and more of the global currency market.

Featured Image Courtesy of Andre Francois Via Unsplash

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Tim Draper Doubles Down On $250,000 Bitcoin (BTC) Prediction, Cites Global Adoption

“All Times Are Good Times To Enter The Crypto Market”

Tim Draper, a legendary venture capitalist based in Silicon Valley, has long been a believer in Bitcoin (BTC), reportedly buying boatloads of the asset (a reported 40,000 coins) in 2014. And even while BTC has exploded in value since then, undergoing a bull run that sent cryptocurrencies ‘to the moon’, Draper has claimed that he hasn’t sold, as he still expects this newfangled asset class to boom in the long haul.

More specifically, speaking with CoinTelegraph, the “staunch” bull recently doubled-down on his $250,000/BTC price prediction, one of the most optimistic forecasts for the world’s foremost cryptocurrency.

Speaking on Bitcoin’s recent bout of capitulation, which saw the aggregate value of all cryptocurrencies fall under $130 billion, Tim, who runs a venture fund and entrepreneur-focused university that shares his surname, noted that the sell-off was simply a ‘fluctuation.”

He mused that this move, which proved to be devasting for retail investors, could have been catalyzed by market manipulators, before adding that bankers are “loving it” as crypto remains in a crisis, as such institutions have a vested interest in fiat. However, Tim, who parents a crypto-friendly venture capitalist, then explained that Bitcoin’s recent move lower could just be a byproduct of market cycles, potentially accentuated by external bearish pressures.

Adding to his sentiment that the decline isn’t out of the ordinary, Draper then noted that in any business, a disruptor — Bitcoin in the case of finance — often moves with immense volatility, even if the innovation holds immense value for the health of humanity.

Maintaining this optimistic thought process, Draper then noted that with 2018’s dip could “create a great opportunity for people to start becoming users of the currencies of the futures, crypto,” of course. Echoing claims he conveyed to Ran NeuNer of CNBC Africa’s “Crypto Trader” and OnChain Capital weeks ago, Draper alluded to the fact that fiat, tied to political forces, aren’t likely to survive.

Touching on this train of thought, the American crypto multi-millionaire stated:

I always look at a crisis as an opportunity. And that’s the way I’m looking at this one. All times are good times to enter the crypto market. If you are forward-thinking, you’re going to look and say ‘this is just better currency’, so it’s just a matter of time before the world adopts it. [This will happen] when everything I can do with fiat, I can do with Bitcoin.

Ardent Bitcoin Bull Draper Still In Love With Cryptocurrencies

Discussing the aforementioned point in-depth, Draper noted, dollars will eventually become irrelevant pieces of paper. More specifically, in Draper’s dream utopia, BTC usage in the real world won’t only be easy, but drastically more cost-effective than credit cards, which charge 2.5% to 4% on each transaction. He added that in the end, whether it be BTC or ETH, cryptocurrencies aren’t tied to a central bank, and aren’t subject to the whims of inflation and the flaws in human nature.

Keeping all this in mind, Draper then explained why he expects for $250,000/BTC to still occur sometime in the future. The venture capitalist first noted that the dollar will lose strength against BTC, while the aforementioned digital asset will begin to make up more and more of the global currency market.

Featured Image Courtesy of Andre Francois Via Unsplash

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Prominent Analyst: Crypto “Very Close” To Finding Bitcoin (BTC) Bottom

Crypto Analyst: Bitcoin Cash Hard Fork, Regulatory Qualms Have Been Bearish Catalysts 

Naeem Alsam, a crypto-friendly contributor to Forbes and the Chief Market Analyst at ThinkMarkets, recently sat down with CoinTelegraph in the outlet’s “Time To Buy Bitcoin [BTC]?” exclusive to discuss his opinions on the market, and where BTC could potentially bottom.

Alsam, echoing analysis done by a multitude of crypto insiders in recent weeks, did his best to discern what was the root cause for the chaos seen in the Bitcoin seas, which has seen BTC fold by ~40% in recent weeks.

The ThinkMarkets analyst first noted that there’s a regulatory issue looming over the cryptosphere, likely referencing the SEC’s recently renewed crackdown on ICO-funded projects, along with other government’s qualms with this asset class as a whole. Alsam, elaborating on what he meant, noted:

Everyone knows that because regulators are not friendly. And as long as they maintain the same stance then that we won’t see that huge rally for Bitcoin… and we all know that.

The cryptocurrency advocate then drew attention to the contentious hard forks seen recently, claiming that as many laud cryptocurrencies for their fixed supply, the essential inflation of “” supply may have deterred investors at large. He explained:

We continue to increase the supply, [and] this is not really a good sign for the industry… I think this [fork[ goes against the major core elements and core values of Bitcoin.

“Very Close” To Bitcoin Bottom

In spite of his comments, Aslam didn’t seem too bearish on Bitcoin’s short-term prospects. When asked about when this bear market could establish a long-term low, he exclaimed that the feelings of panic spreading throughout the cryptosphere indicates that a bottom as “close enough.”

He added that crypto is “very close to finding a bottom,” but was hesitant to pinpoint where BTC would find itself at a low. But, like Michael Bucella of BlockTower Capital, the ThinkMarkets representative noted that once the bottom is in, only a few lucky traders will put up BTC at the price level.

Adoption Holding Back Growth

Mati Greenspan, eToro’s in-house crypto-centric analyst, who also was featured in CoinTelegraph’s video, took the market with a bit more caution, hesitating to call an exact bottom for BTC or its altcoin brethren. When asked about what advice he could specifically give to “HODLers,” diehard believers of cryptocurrency, Greenspan, putting emphasis on a single concept, told everyone to “relax.”

He explained that investments, whether in nascent markets or otherwise, are all about playing a waiting game, adding that “HODLers” should look to make money while they wait on Bitcoin’s next move, rather than waiting to open or close a trade.

Bringing the conversation back to current market conditions — an incessantly talked about ‘flavor of the month’ in the cryptosphere — Greenspan noted that the return of market volatility can be chalked up to the arrival of institutional players. He added that such players, who often have more experience than crypto’s traders, are seeing current prices, with BTC under $4,000, as an optimal opportunity to make a foray.

Finally, when queried about his prediction for a bottom, the eToro analyst took an optimistic approach without pinning an exact price level. Greenspan stated:

So Bitcoin has gone through various boom and bust cycles over the course of its short history… You do get a lot of newcomers into the market, and then after that during the retracement, and then the relaxation period. This is an excellent time for people to up there knowledge to learn more about the industry, more about crypto assets, more about how things work.

Still, he added that these boom and bust cycles will likely continue, or at least until full adoption of cryptocurrencies is achieved — this industry’s endgame goal.

The Bitcoin Network’s Fundamentals Are Still Booming

Although Greenspan didn’t make it explicit, the eToro analyst is likely alluding to the sentiment that 2018’s bear market hasn’t been all that bad for bonafide cryptocurrencies and blockchain projects. Just recently, cryptocurrency advocate Anthony Pompliano, formerly of Facebook and Snapchat, took to a recent installment of Off The Chain, a crypto-centric newsletter he heads, to claim that “Bitcoin has become stronger,” even amid a BTC downturn.

Pomp added that even while mainstream media outlets have prematurely proclaimed that “cryptocurrency is dead!” and/or a Ponzi scheme, these cries for death throes aren’t taking the crypto’s fundamentals into account. As put by the Morgan Creek Digital partner, well-known in the cryptosphere for his anti-bank, pro-crypto rhetoric:

Fortunately, nothing could be further from the truth. The fundamental drivers of the decentralized technology network are actually growing.

Ethereum, third only to Bitcoin and XRP, has also seen its fair share of positive developments. For instance, Justin Drake, a researcher for the Ethereum Network, recently told Ran NeuNer that Serenity, or Ethereum 2.0, has been chugging along just fine. Drake claimed that researchers have continued to propose better and better designs for the upgraded blockchain, which would see Ethereum activate Sharding, a protocol likely to remove all future scalability qualms.

Even Vitalik Buterin, a co-founder of the Ethereum Project, lauded Serenity. At Devcon4, the Russian-Canadian coder noted that Ethereum 2.0 may eventually facilitate “pure PoS consensus, faster times to synchronous confirmation (8-16 seconds), economic finality (10-20 minutes),” and, most importantly, a 1,000x scalability upside.

And, just days ago, Binance, the world’s foremost cryptocurrency exchange, transferred over $510 million worth of BNB, its in-house ERC-20 token, for a mere $0.03 in transaction fees, a negligible amount for a transfer that would make 99.99% of investors, even whales, quiver in jealousy.

Taking this all into account, Tom Lee even claimed that the market’s foremost three assets, which were already aforementioned, have staying power, and have a chance to see global adoption in the future.

Title Image Courtesy of QuoteInspector Via Flickr

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Crypto Bull: Bitcoin (BTC) Under $4,000 Driven By Emotional Overreaction

Parabolic Move, Then 80% Correction 

Ronnie Moas, an impassioned, outspoken Bitcoin (BTC) bull, recently sat down with CoinTelegraph in an exclusive interview. Speaking on crypto’s most recent downturn, which sent the aggregate value of crypto assets under $140 billion, Moas maintained his bullish sentiment, making it abundantly clear that BTC isn’t dead in the water.

When asked about how the crypto market is faring, Moas, the director of Standpoint Research, turned the question on its head, speaking on the dismal performance seen in global markets. He explained that half of the names on the S&P 500, the top 500 firms listed on American markets, are down by 25% to 50% since January, adding that stock investors have been sharing in the cryptosphere’s pain.

Returning to the question at hand, the prominent market analyst, doing his best to calm investors’ qualms, simply stated that we’ve been down this road before. Moas added that it is a common sight, almost as if there’s a cycle, to see Bitcoin undergo parabolic moves, before a subsequent 80% correction, as seen today. And with that in mind, the cryptocurrency advocate explained:

Every time we have a parabolic move, we knock out the high from the previous cycle. And I don’t think the parabolic move that I am expecting next year will be any different.

A piece of analysis recently completed by Rob Sluymer of Fundstrat corroborated Bitcoin’s penchant for cycles. The analysis noted that 2014/2015’s Bitcoin bear market is eerily mirroring that of 2018, both in terms of technical and overarching pattern capacities.

Weak Hands Are Getting Shaken Out Of Bitcoin

Touching on the current market sentiment, Moas, trying to imbue the audience with shock, noted that over the history of stock and crypto markets, those that sold amid a crash “ended up regretting it shortly thereafter — people jumped off bridges.” He went on to note that this unfortunate occurrence has happened during the Great Depression, Black Monday, Dotcom Bust, and the Great Recession, but then added that those who bought at the bottom did “very very well for themselves.”

Giving a vague price prediction, Moas, who seemed fired up, exclaimed that he doesn’t find it logical that gold’s market capitalization, a cool $8 billion, is 100x that of Bitcoin, and 60x that of crypto assets. This, of course, is likely in reference to the sentiment that Bitcoin, in all its digital glory, will eventually surpass gold, the world’s de-facto store of value for millennia.

Maintaining a positive angle on crypto’s recent crash, the Standpoint Research representative noted:

We are at the beginning of this game… we are in a price discovery phase. There are weak hands getting shaken out. People who’ve never been in a situation like this before are acting as if Bitcoin is going to zero, so I don’t think that’s happening.

Dollar Cost Averaging Into Bitcoin Isn’t A Bad Idea, Says Moas 

Closing off his comments, Moas noted that “the smart people” bought Bitcoin on its way down. Whether they have a cost basis of $9,000 or $4,000, the prominent market researcher stated that those who buy at lower values, especially as others capitulate, are likely to do very well. Wrapping up his remarks, in a fit of passion, Moas noted:

History repeats itself. And if you look back at financial market history, going back 100 years, the time that people made the most money is when markets crashed and the smart people took advantage of an overreaction and emotional selling that we are seeing right now… I know a company that is spending one hundred million dollars on mining rigs right now, and I think they know where Bitcoin is going.
Title Image Courtesy of Hektor Ehring Jeppesen via Flickr and Bitcongress

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Cointelegraph Launches Job Listings Platform for the Blockchain, Crypto Industries

Today, June 21, Cointelegraph is launching a listings platform for crypto and Blockchain-specific job opportunities.

Users can search for vacancies in the crypto and Blockchain industries globally, using category parameters and keywords to focus in on their interests.

Companies can also post listings to find the most competitive candidates for their needs.

Cointelegraph hopes the service will encourage new and valuable connections in an emerging industry that is seeing increasing investment and growth.

The service is currently in beta, let the creators know what you think at jobs@cointelegraph.com.

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Sprechen Sie Deutsch? Cointelegraph Launches German Version

Cointelegraph proudly unveils the launch of its German version, CT Deutsch today, Feb. 23.

Starting today, both the most important news from our main page as well as local updates from Germany, Austria and Switzerland will be available in German, making for convenient reading for our German-speaking visitors everywhere.

With powerful regional crypto communities, fueled by grassroots effort and government programs alike, the German-speaking world now also benefits from a localized version of CT.

Cointelegraph regularly provides the latest news, price analytics and opinion pieces about the Blockchain and cryptocurrency industries.

Subscribe to our localized social media Facebook and Twitter for the latest updates from the crypto world and visit CT Deutsch to read our full articles in German!

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Cointelegraph’s ‘Top People in Blockchain’ Rating Released

Cointelegraph ranks the top players of cryptocurrency and Blockchain, presenting the people responsible for making our more than $400 bln industry into what it is today.

What are the criteria, you ask? Without taking any liberties, we simply calculated the number of mentions each of the participants received in the mainstream ratings, such as Forbes’ and Fortune’s.

The story of cryptocurrency and Blockchain has been one of innovators and pioneers. While there has been no shortage of starts and stops, the industry has grown from humble beginnings to a global phenomenon in less than a decade.

Last year saw remarkable growth in interest towards crypto, driving prices in the markets to record-setting highs. At one point Bitcoin has gone beyond $20,000, while other coins such as Ethereum also saw massive gains.

We owe it to dozens of innovators and advocates for helping the industry grow and turn into what it is today. Among them you’ll no doubt find familiar faces.

Bitcoin guru Andreas Antonopoulos has brought Bitcoin to the masses with his book ‘Mastering Bitcoin”. Roger Ver was one of the first investors in Blockchain and helped grow the industry as a prominent advocate.

Vitalik Buterin, while having only spent 7 years in the crypto industry, has contributed massively, helping create the second largest cryptocurrency Ethereum in 2014.

We’ve also included people in the media affecting how the world is seeing and talking about cryptocurrencies and Blockchain technology. These include such prominent advocates like Laura Shin and Perianne Boring.

See how we’ve ranked the top influencers that are shaping the future of money.

Aaron Wood

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CT Goes Italian: Cointelegraph Italia Launches Today

Cointelegraph (CT) is pleased to announce the launch of its Italian version Cointelegraph Italia, today, Feb. 9.

Cointelegraph Italia provides all the latest information from Cointelegraph in Italian, including updates on the cryptocurrency markets, Blockchain technology, decentralized applications, and fintech from the global community, as well as locally-focused updates for Italy.

Cointelegraph offers breaking news briefs, as well as longform stories, guides, coin price indices, analysis and key digital currencies and fintech trends.

We hope that our platform will help bring the Italian Blockchain community together – from Milan to Sicily.

Follow Cointelegraph Italia on Facebook or Twitter to stay updated, and share opinions and ideas, in Italian.

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‘Regulate It Out of Existence’: Stiglitz And Swiss Bank Bash Bitcoin At Davos

The currently ongoing 2018 World Economic Forum (WEF) is so far producing negative feedback on Bitcoin as economists including Joseph Stiglitz line up to proclaim the superiority of fiat currency.

Addressing Bloomberg TV audiences during the annual event in Davos, Switzerland, the professor and Nobel Prize winner said that cracking down on “secret” Bitcoin use cases would “regulate it out of existence.”

“We have a good medium of exchange called the dollar. We can trade in that. Why do people want bitcoin? For secrecy,” he said.

Stiglitz was joined by Swiss National Bank chairman Thomas Jordan, who in a speech also argued for tough restrictions on how Bitcoin can be used.

“There is an important principle: Similar activities should be similarly regulated,” he told listeners, “and Bitcoin and other cryptocurrencies have some characteristics of other investment instruments.”

“You can’t, on the one hand, heavily restrict cash and on the other hand permit fully anonymous instruments that to a great extent can be used for all manner of transactions.”

The WEF has traditionally brought together proponents, opponents and fence-sitters on Bitcoin and Blockchain technology, with Cointelegraph in attendance at this year’s event.

While cryptocurrency markets continue in a bearish cycle this month, Bitcoin price forecasts have become decidedly more down to earth, while outright critics have also softened their stance.

Fellow Nobel Prize winning economist Robert Shiller, who in September 2017 described Bitcoin as “the best example of a bubble,” went on record last week to say he “doesn’t know what to make of Bitcoin ultimately.”