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Analysts: Bitcoin (BTC) To Hit $144,000 In 10 Years, Ethereum To Lose Steam

The value of Bitcoin will be the main talk in a decade to come. That’s according to a report by Satis Group. Satis Group is an advisory firm offering services in ICOs and cryptocurrencies. According to this firm, Bitcoin is headed for a major decade-long price upsurge despite the recent setbacks by market corrections.

Bitcoin, Monero, And Dash To Gain Exponential Boom

The report, titled “Cryptoasset Market Coverage: Valuation,” indicates that Bitcoin price is expected to approach $33,000 in 2019 – a cool 400% upscale from the current $7,000 range. At that $33,000 price range, Bitcoin will have surpassed its December 2017 all-time high of $20,000. With that trend, the crypto asset will have achieved about $72,000 in value within the next 3 years.

If this bullish trend holds for 5 years, the coin will be valued at upwards of $96,000 by end of it. The analysts project that by 2028 (That’s 10 years from 2018), Bitcoin’s value could be standing at a mind-blowing $144,000.

Besides Bitcoin’s major bullish run, the analysts also project a huge boost for Monero (XMR). The report indicates that Monero could rise by over 38,000% between now and 2028, meaning that the crypto will have shot from its current stand at $103 to a whooping $39,584 by the end of the 10-year period. The same analysts also put Dash (DASH) on the list of the digital assets predicted to gain value. Currently trading at $188, Dash is seen to rise by 1,459% to achieve $2,927 in value by 2028.

Ethereum On The Losing List

However, the same report by Satis suggests that some other crypto assets like Bitcoin Cash (BCH) won’t be winning in the future. BCH is currently trading at $558, but Satis projects that this momentum will blow out and the cryptocurrency will have dropped down to $180 within the next 10 years. Ripple(XRP), too, won’t be having any smooth rides. According to Satis, the next 10 years will see Ripple dip to $0.004 from the current $0.3 value.

In the case of Ethereum, Satis explains that application-specific blockchain networks don’t hold much value in their present form. In that case, Ethereum (ETH) and EOS (EOS) will likely see a decline as they face hurdles brought about by issues with user interfaces and government regulations. However, since cryptos like Monero, Bitcoin, and Decred are basically crypto assets in a largely viral market, there value is bound to increase by huge margins.

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Hyper Inflation in Venezuela Makes for Interesting Times in Cryptocurrency

Cryptocurrency–While the ongoing inflation and forced impoverization of the Venezuelan population is bordering on a crisis, the scenario surrounding government fiscal policy, imposed fiat usage and the role of cryptocurrency is creating an interesting incubation for the industry.

It started with the growth of adoption for Bitcoin in the beleaguered country, with citizens looking for an alternative to escape the six hundred thousand percentage increase for inflation (on pace to hit one million by the end of the year). Bitcoin, which has long been pointed to as an excellent digital store of value analogous to physical gold, allowed Venezuelans the opportunity to use a global currency with far less price volatility than the now-worthless Bolivar. While most of the Western world, particularly older generations polled in investment surveys, complain about the erratic fluctuating price of BTC–a feature that has been heaped upon by Nobel Prize winning economists–Venezuelans flock to the currency in an effort to avoid the crippling inflation of their fiat currency, providing strong support for the validity of the digital asset.

However, that same adoptive population is also realizing the limitations of Bitcoin, a set of difficulties that were exposed in January during the peak of BTC pricing. While mining fees have come down substantially from their average of $55 per transaction earlier in the year, Venezuelans are turning to a currency that offers more utility. DASH has seen an explosion in both price appreciation and adoption throughout this past week, as cryptocurrency moves towards being the go-to choice for the crypto-using portion of Venezuela that desperately needs a transaction-focused tender separate from government fiat.

As previously reported by EWN, DASH is seeing upwards of two hundred new merchant adoptions per month in the country, with the commerce-minded population benefiting from the greatly reduced transaction times of the coin over competitors like Bitcoin and Ethereum. While Bitcoin continues to hold the lion’s share of the market and nearly all of the brand-recognition of cryptocurrency, DASH, NANO and other transaction-focused currencies are quietly making a name for themselves in their ability to offer a fast, cheap (or fee-less) alternative to traditional money.

Given the abuse of government fiscal policy, rampant inflation and bureaucratic control over money that has devastated countries throughout history, it seems unlikely that Venezuela will be the last situation to gain international attention over a crippled monetary system. The average investor in cryptocurrency might be in for the potential of profit, but most developers and industry enthusiasts recognize the underlying power is not just in the technology of blockchain, anonymity and security, but the decentralized framework that is put into practice when large populations shift from government fiat. Venezuela is a real-time incubator playing out for how cryptocurrency can respond to a situation of ineffective fiat or traditional tender as the primary source of money. While the market has responded in a predictable manner, i.e. favoring currencies that offer the fastest and cheapest transactions, it also gives credence to the intrinsic value of the currencies that has regularly been lambasted by economists and other academic circles. Bitcoin may not be backed by a physical property, but it still holds value to the Venezuelan family harboring their earnings in BTC and paying for their groceries as opposed to using the worthless Bolivar.

It remains to be seen how cryptocurrency can use situations like the one currently playing out in Venezuela to ultimately benefit the population and the growing industry. At the very least, it has provided an alternative discussion from the endless conversation surrounding Exchange-Traded Funds and price predictions.

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Dash (DASH) Moves to Monthly Highest Against the USD as Atomic Wallet adds the Token

Including Monero (XMR), the pair DASH/USD are out of the highest gainers for the top leading currencies for this weekend. DASH opened doors to the 1st of September with a strong 15.00% increase in the last 24-hours.

DASH trading now

Source: coinmarketcap

For the time being, DASH is leading the BTC market for 13.34% in the green while overcoming the $200.00 mark after two failed attempts two days ago. Not making above the important level, handled the wheel to the bears which tanked the pair to the lows of $175.00. However, going with the bullish trend overtaking the market for two days now Dash is going for the monthly highest now.

The multi-digital asset wallet Atomic Wallet has announced that the 12th largest coin is integrated to save it. Konstantin Gladych – CEO of Atomic Wallet, added for DFN the following:

“We have two main goals. First of all, Atomic[‘s] team is [tasked with] development of secure, convenient, user friendly multi-assets solution. Also, our wallet works with built-in Atomic swap exchange and we are very interested in mass implementation of it. We truly believe in decentralized technologies of blockchain, and we want to introduce it to all of cryptocurrency enthusiasts.”

Dash’s blockchain network processed double of Bitcoin’s transactions. The event was part of a network stress test which proved long-term scaling strategies with no performance decrease.

Very comparable to DASH, Monero is another highlight of the day with above 10.00% in the last 24-hours attempting to follow Dogecoin tremendous increase of almost 60.00%.

Bitcoin (BTC), Monero (XMR)–According to a report by the initial coin offering (ICO) advisory and research firm Satis Group, both Monero and Bitcoin look to be the biggest winners in terms of price gain over the next decade. Satis, which publishes outlooks for both ICOs and current cryptocurrencies, as well as advising on  the forces that will shape the industry, has released a new forecast for the next ten years that puts XMR as the greatest price gainer while predicting XRP to be in for a historic crash.

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DASH Adoption in Inflation-Prone Venezuela Provides Validity for Cryptocurrency

DASH (DASH)–Despite an otherwise bearish year for cryptocurrency, several different coins across the market have been experiencing a price revival. Throughout last week, NANO leapt from under $1 to above $3, posting a 300 percent gain in the span of days. DASH, another popular currency for transactions, has benefited from a 24-hour price gain of 20 percent, which brought the coin close to $200 as of writing. While there are a number of reasons for the boost in price, from a small bump in crypto valuation across the board to a general price rebound in altcoins after the bloodbath experienced over the last two weeks, DASH has also been the target of Venezuelan citizens looking to move from government controlled fiat to cryptocurrency.

As the Venezuelan bolivar approaches absurd levels of inflation to the tune of six-figures (with an expected one million percent inflation rate by year’s end), citizens of the beleaguered country have been turning to cryptocurrency in droves in an attempt to flee the erosion of government fiat. While most of the narrative surrounding cryptocurrency, particularly for Westernized investors and the frame of Wall Street, has centered on price volatility, citizens of countries with irresponsible fiscal policy and rampant inflation see a  digital asset that provides the functionality of money with the security of relative price stability.

The Venezuelan government’s response to the rising inflation rate has been the creation of their own “cryptocurrency”, dubbed the Petro, which is supposed to be backed by the country’s oil supply. However, given the mismanagement of the current bolivar by the very same government, in addition to concerns over how a fully centralized cryptocurrency would function (the reality is the currency is more digital fiat than crypto), has led to Venezuelans abandoning the project in droves before it was even able to take off.

Bitcoin has been a popular choice for those looking to escape fiat for a stable and secure cryptocurrency asset. However, given that the bolivar has become unusable and is on pace to erode the net worth of anyone who holds it, Venezuelans need more than just a digital safe haven for their wealth: they need a currency that will function for transactions. While Bitcoin has been lauded for its high profile and widely recognized brand name, it does fall behind other top 20 currencies in terms of usability as money. Compared to the aforementioned NANO and DASH, BTC mining fees for transactions, in addition to the increased confirmation times, has led to a fair portion of the country exploring cryptocurrencies that provide the most utility in terms of transactions.

Enter DASH, a cryptocurrency that has fluctuated in the top 10 by market capitalization (currently sitting at 13), which averages two and a half minutes in transaction time thanks to the technology’s master node network and Instant send service. While some have pointed to other cryptocurrencies that provide even faster transaction times, DASH has managed to capitalize on the market share by portraying its currency as a strong alternative for those looking to a digital form of money.

DASH has been at the forefront of growing its brand through transactional appeal, with an average of 200 new vendors signing up for the service each month. In an article with Business Insider published last week, DASH Core Group CEO Ryan Taylor expounded upon the massive growth being driven through the Venezuela market,

“We are seeing tens of thousands of wallet downloads from the country each month. Earlier this year, Venezuela became our No. 2 market, even ahead of China and Russia, which are, of course, huge into cryptocurrency right now…It took them a long time to get the first 50, first 100, but at the beginning of July, the number was around 400, and we’re already at 800. We’re at this point signing up more than 200 a month.”

In an interesting juxtaposition, while U.S. investors get hung up on S.E.C. approval for a Bitcoin Exchange-traded Fund, thereby signaling the possibility of institutional investors entering the market, Venezuelans turning to cryptocurrency to fill their need for digital transactions is the greatest proof of validity for the growing industry–one that provides an alternative to sole-reliance on government fiat.

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Today’s Impressive Gainers: Stellar (XLM), Ox (ZRX), DASH and Bitcoin Diamond (BCD)

The crypto-markets usually exhibit some sort of fatigue during the weekends that is usually evident through low trade volumes. Ethereum World News had put forth the idea just yesterday that Bitcoin (BTC) might face an uphill task as it attempted to maintain the gains it had achieved during the past week through the weekend. But the King of Crypto has stood its own in the crypto markets and is currently trading at $7,438 at the moment of writing this. The new BTC resistance level is between the ranges of $7,500 and $7,600. Hopefully with the new week, we will see levels of BTC that are close to $8,000.

With the stability of Bitcoin and its dominance at 45.2%, the total market cap of the crypto markets has also remained stable and is currently at $282.15 Billion. Whenever BTC is stable or is in an upward trajectory, the rest of the market also shows some gains. Below are four cryptocurrencies that have increased by impressive percentages in the last 24 hours.

Today’s impressive gainers. Source, Coinmarketcap.com

Beginning with Stellar (XLM), the coin has been in the spotlight for quite sometime now. Coinbase recently announced that it was exploring adding the digital asset to its platform together with Ox (ZRX), Basic Attention Token (BAT), ZCash (ZEC) and Cardano (ADA). XLM is also benefiting from the news that IBM will be launching a stable-coin on the Stellar blockchain. The coin also received Sharia-compliance only last week. It is no wonder that XLM is currently trading at $0.29 and up 7.58% in the last 24 hours.

DASH on the other hand is also up 4.42% in the last 24 hours and currently trading at $254 at the moment of writing this. Unbeknownst to many, DASH is one of the best privacy coins out there.

Ox (ZRX) is still basking in the news of Coinbase exploring adding the digital asset to its platform. ZRX is currently trading at $1.17 and up 6.69% in the last 24 hours.

The most impressive coin amongst the four, is Bitcoin Diamond (BCD) that is up 55.41% in the last 24 hours and currently trading at $3.46. The reason for this impressive rise of BCD is yet to be determined but the coin has been prone to numerous spikes this past month.

In conclusion, it is safe to say that BTC is going to be stable into the new week. This then means that alt-coins might have impressive gains of their own in the next 7 days as can be seen with the four that we have just highlighted above.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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Dash (DASH) Latest News and Future Price Predictions

With the crypto-prices struggling to keep their bullish pace for longer then a couple of days, traders are taking the hit. However, even with Bitcoin being in the red for the last 24-hours Dash surprised the market today.

DASH/USD Latest

One exception today is the pair DASH against the US Dollar as it is changing hands in the green with 5.06% increase in the last 24-hours. It is leading the BTC market with 6.04% while trading at $272.34.

Source: coinmarketcap

Unfortunately, it would appear virtually all cryptocurrencies are seeing less trading volume over the past day. Although there is still over $16bn worth of trades, it’s nearly $4bn less compared to two days ago. For Dash, the volume is rising a bit, as $194.372m in 24-hour trades is not that bad, all things considered. Rest assured this number will continue to change in the coming hours.

Dash Double transactions compared to Bitcoin

Dash’s blockchain network processed double of Bitcoin’s transactions the previous day. The event was part of a network stress test which proved long-term scaling strategies with no performance decrease.

Continuing the comparison with the lead of the crypto-verse and its roughly 1 MB blocks, Dash has running 2MB blocks. Dash’s block interval is approximately 2.5 minutes, four times that of Bitcoin, so theoretically Dash currently possesses eight times the network capacity.

Dash & Coinfirm

Years back, the team behind Dash teamed up with Coinfirm to deliver better solutions for merchants that need to implement Anti-Money-Laundering & Know Your Customer laws. These rules are set-up to fight fraud and money laundering.

The current Dash Core Group CEO – Ryan Taylor added:

“I think there was a lot of early, negative reaction to all of this from both in and outside of our community — because the perception was that Dash was somehow being regulated. That’s not the case, however. We are simply seeking to greatly expand the number of businesses that integrate with Dash, most of whom already have to meet AML and KYC compliance requirements.”

Accordingly, receiving the no action letter from the SEC assures firms in-need even more so they can implement the solutions in their structure. This will be done without facing regulations.

With the upward momentum going still on, DASH against the US Dollar could reach one of the Fibonacci Ret marks. The second key level would be the $414.00 at 61.8% Fibs, which if broken would open gates for a strong rally in the upcoming months.

Trade Safely and do not overtrade!

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Bitcoin Continues to Tumble – Fourth Price Slide in as Many Days, Down 18 Percent in Seven Days

It appears Bitcoin’s troubles are far from the over. The number one cryptocurrency has been enduring a difficult few days. BTC has so far declined by almost 18 percent in the last seven days.

Bitcoin Falls Below $6,500

BTC slipped further on June 13, falling below the $6,500 mark. This latest pullback follows the significant drop over the weekend that saw it lose 10 percent in a matter of hours on June 10. Bitcoin is currently at its lowest price level since April is trading at $6,450 according to CoinMarketCap. The number cryptocurrency has experienced four sharp price drops within mere hours since June 10. This bear run has seen BTC dip by more than 50 percent since the start of 2018.

Reasons for the Decline

In the immediate aftermath of the initial price drop on June 10, mainstream media sources claimed the dip was due to the Coinraill hack. The coincidental timing between the price decline and the announcement of the hack on the South Korea-based exchange platform likely led to those conclusions. However, such notions have since been debunked. To begin with, BTC wasn’t stolen in the Coinrail hack. Secondly, the platform doesn’t rank among one of the top exchanges in the market. Thus, it is unlikely that the $42 million hack had much to do with the recent price drop.

According to Mati Greenspan on eToro, the reduction in prices currently seen in the market is most likely due to a market correction, saying:

The narrative that such a small hack caused such a large price reaction has definitely been overplayed.

Some commentators also identified price manipulation as the probable cause of the BTC price decline. Recently, the U.S. Department of Justice (DOJ) opened investigations into alleged shady trading practices in the Bitcoin market. The DOJ in collaboration with the Commodity Futures Trading Commission (CFTC) is investigating allegations of spoofing and wash trading in the cryptocurrency market. The U.S. government recently demanded that four major crypto exchange platforms hand over information on their operations.

Cryptocurrency Market is Bleeding

Bitcoin isn’t the only cryptocurrency facing significant price troubles at the moment. Ethereum, the second-ranked cryptocurrency has gone below the $500 mark and is now trading at $475. EOS continues its spectacular fall – failure to reach voting consensus is delaying mainnet launch, and the price is in free-fall. EOS has maintained double-digit percentage losses over the past four days. It has declined 40 percent in the last one week.

Litecoin and Dash are two other cryptocurrencies that are having a rough time of it. Litecoin, the sixth-ranked coin is currently trading below $100, its lowest price level since mid-December 2017. As for Dash, it has been in free-fall since the start of the year, losing 300 percent in the process – reaching a one-year low.

How low will BTC prices fall due to the present bear run? Is this the end for Bitcoin or is there any rebound on the horizon? Keep the conversation going in the comment section below.

Image courtesy of CoinMarketCap.