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Bitcoin Price Could See $20K in Two Weeks – $100K This Year, Predicts Market Analyst

An eToro analyst believes a correction in Bitcoin prices is possible “very soon,” but nonetheless believes a price of $100,000 could happen this year.

Bitcoin (BTC) prices could match their all-time high of $20,000 within the next two weeks — and could hit $50,000 or $100,000 by the end of the year, eToro analyst Simon Peters claimed on June 26.

According to Peters, it took 7 to 14 days for BTC to reach the record figure of $20,000 when it was last at $11,800.

He cautioned that his short-term prediction is based on the assumption that bitcoin maintains its current parabolic trajectory.

Peters believes this rally is different from past surges because it hasn’t been accompanied by a spike in Google searches for “buy bitcoin” — indicating that the capital entering the market is coming from institutions and investors who had previously parked their funds in stablecoins.

On whether the surge is sustainable, Peters added:

“With the number of sell positions building in the market it’s possible we could see a correction very soon. Even if that was the case though, bitcoin continues to remain on track to close out the first half of the year on a highly positive note. We could see bitcoin reaching $50,000 or even $100,000 this year.”

The analyst went on to note that BTC’s gains are at the expense of altcoins, some of which are being “pummeled” as they languish at significant lows.

Bitcoin’s parabolic advance continued past $12,000 on June 26 — the first time the cryptocurrency has hit this figure in over a year.

Data from CoinMarketCap also suggests BTC has surpassed 60% market dominance for the first time since April 2017, with a capitalization of $226 billion.

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eToro’s Mati Greenspan Bashes the “Drop Gold” Campaign by Grayscale Investments

A top crypto analyst from eToro exchange calls the “Bye Gold, Buy Bitcoin” advert ‘childish’, saying the situation with Bitcoin and gold is actually different

In its recent ad, Grayscale Investments has featured people in the streets carrying huge amounts of gold but one of them deciding to drop his. This was meant to encourage viewers to become keen on crypto and BTC in particular, saying that unlike gold, Bitcoin has utility.

However, Mati Greenspan, a senior analyst from a crypto trading platform eToro, disagrees with this advert, saying that its creators ‘miss the point’.

‘Drop gold, buy Bitcoin’

The news about the commercial in question was reported by various news outlets, including some major ones. As reported by Decryptmedia, Barry Silbert, the CEO of Grayscale Investments, the company that made and launched the video, compares it with some viral commercials of the 1990s.

The Drop Gold site of the campaign says that gold is a thing of the past, referring to the US President Nixon who decided to drop the gold standard. Many crypto enthusiast, though, refer to this fact when they criticize the USD, saying that since then the US dollar is merely paper backed by no real assets.

The Drop Gold campaign persuades people to forget about gold and get Bitcoin instead, whereas many crypto community members on Twitter, including analysts, are filling threads with comments, saying that it is better to keep your gold rather than drop it for the sake of Bitcoin.

A senior analyst of eToro, an Israel-based crypto trading platform, Mati Greenspan says that the advert is creating controversy but does not get the point about Bitcoin.

“Bitcoin was invented to provide a currency that operates independently of governments and banks. It doesn’t mean it needs to replace them.”

The Bitcoin proponent actually
invests in gold

Greenspan, who is a Bitcoin bull, says that his investment portfolio includes not only crypto (along with Bitcoin) but also good old gold. He reckons that going only for crypto assets is unwise due to their extreme volatility.

Gold, he pointed out, has been a reliable store of value for centuries, so it is good enough for investment even now. It should not be dropped for the sake of crypto, since if a global catastrophe should occur and the world gets a massive power cut, you will not be able to use Bitcoin. Whereas, gold would be good to pay with.

“Gold has clear advantages over bitcoin. Physical gold can be used if the lights go out—you can’t use bitcoin. There are methods such as using satellites, but those aren’t feasible in daily life. If there’s no electricity, you can’t pay with bitcoin.”

Greenspan said that gold is good since it is
so scarce and will remain an excellent store of value for a long time onwards.

The post eToro’s Mati Greenspan Bashes the “Drop Gold” Campaign by Grayscale Investments appeared first on Ethereum World News.

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It’s Official: Alt Season is Here! (But BTC Remains The King), eToro’s Mati Greenspan Says

Mati Greenspan

Since 2017, the crypto market has not had good times. The bearish streak that began at the end of that year (just as the initial futures contracts gained strength) became more pronounced throughout 2018 and seems to have diminished in intensity during the initial quarter of 2019.

This behavior, along with the active development of several projects based on blockchain technologies seems to have aroused the interest of traders and crypto enthusiasts, however, while previously Bitcoin grabbed everyone’s attention, 2019 appears to be the year of altcoins and so has been “decreed” by Mati Greenspan, one of the most respected analysts not only in the community of cryptocurrencies but among traders of diverse financial instruments.

Alt Season Is Here!

In an essay published by Hacked and replicated by The Bitcoinist, Mati Greenspan points out that from a technical analysis standpoint, Bitcoin trading is lagging behind the rest of the cryptocurrencies, something that many experts see as a sign of increasing influence of altcoins in the whole crypto trading market.

Also, Bitcoin’s modest price variation makes it unappealing for traders accustomed to more volatile and risky markets. While Bitcoin maintains a low variability in prices and volume, other cryptocurrencies have tripled their numbers, with noticeable gains that stimulate the growth of their market cap:

“Of course, there’s no telling how long this could last but the signs are all in place. Global volume across crypto exchanges is holding steady at around $30 billion per day, yet Bitcoin’s volume is less than a third of that figure. Sure, Bitcoin exchange volumes are still about double what they were in early February, but some coins like Litecoin, EOS, and BNB have more than tripled their daily volumes in the same time frame.”

Alt Season Means Good News for Bitcoin (BTC)

However, the alt season has also benefited Bitcoin (BTC) trading: Being the most widely used cryptocurrency, it forces traders to operate with this cryptocurrency as the base for most of their trading pairs, increasing its demand.

He also illustrates that there has been a decline in the number of Bitcoin transactions over the last few days, indicating that users might prefer other currencies although the Bitcoin dominance index still gives BTC over 50% of strength.

number of BTC Transactions

Number of BTC Transactions. courtesy: Bitcoinist

The community seems to share Mr. Greenspan’s sentiment. On “Crypto Twitter” (and also Reddit) several users have talked about not only to a possible reversal of the bearish trend but also about the end of the infamous “crypto winter.”

If this is true, happy trading! But please remember: Never invest more than you can afford to lose.

The post It’s Official: Alt Season is Here! (But BTC Remains The King), eToro’s Mati Greenspan Says appeared first on Ethereum World News.

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eToro Will Not Support BSV. Offers 92$ per Token as Refund

Bitcoin SV, The Bitcoin Cash fork promoted by Craig Wright does not seem to have what it takes to earn eToro’s credibility or approval to be included as one of the cryptocurrencies able to be traded on its platform.

According to an announcement published on its official website, the popular social trading platform explains that users will receive $92 for every token they had at the moment of the hard fork:

“Although we are not obligated to support forks, we are happy to announce that we decided to credit eToro clients who held long (BUY) non-leveraged positions on November 15, 2018 …

We are in the process of crediting relevant users accounts with the dollar value of Bitcoin Cash SV coins at the price of USD 92 multiplied by the number of Bitcoin Cash units held at the time of the fork. The price was determined by the price of Bitcoin Cash SV available to eToro at the time the credit was processed by us”.

Of the two chains that emerged after the Bitcoin Cash split, Bitcoin SV was discarded by eToro while Bitcoin Cash ABC gained the platform’s approval because it could remain the dominant chain in the sad episode known as the “BCH Hash Wars.”

The decision did not come as a surprise to the community as in most cases BCHABC was chosen by most trading platforms and exchanges as the “real” BCH, while in cases where BSV support was provided, the token was listed in parallel with the ABC version.

eToro provided no further explanation of why they decided not to support BSV. Despite having several dozen assets and cryptocurrencies, the platform simply commented that it was “not obligated to support forks.” Mati Greenspan explains that the reason why they don’t deliver BSV tokens and make a fiat refund instead is because it “would be very difficult to set up as we (eToro) have not yet been able to add BCHSV to the platform.”

Currently, the ABC version of Bitcoin Cash has a value of USD 170, with a 10.7% drop in the last 7 days. On the other hand, Bitcoin Satoshi’s Vision has a value of 92.38$ according to Coinmarketcap data.

The post eToro Will Not Support BSV. Offers 92$ per Token as Refund appeared first on Ethereum World News.

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eToro to Pay for Major UK Soccer Sponsorship Deal With Bitcoin

Online investment platform eToro has inked a deal that will see it pay with bitcoin to sponsor teams within the UK’s top soccer league.

The Israel-based company said in a press release that, with help from sports marketing agency SportQuake, it has entered new partnerships with seven Premier League football clubs for a range of sponsorship assets, including access to players, digital rights, tickets, LED perimeter boards and interview backdrops.

Planned and finalized over six months, the deal sees eToro partner with Tottenham Hotspur, Newcastle United, Crystal Palace, Leicester City, Southampton, Brighton & Hove Albion and Cardiff City, and claim it is “the first brand to pay for a Premier League partnership in bitcoin.”

Iqbal V. Gandham, eToro’s managing director for the U.K., said:

“The blockchain technology that underpins crypto currencies like bitcoin brings transparency, which we believe can improve the experience for everyone who loves the ‘beautiful game’, from fans being targeted by ticket touts, or a club negotiating a transfer, we believe that blockchain will revolutionise the world of football.”

The move to fund the sponsorship deal with bitcoin will perhaps come as little surprise. As far back as January 2014, eToro became an early adopter of the cryptocurrency, opening up bitcoin trading for its then 3 million users.

Early in 2017, the company moved to allow customers to buy or sell XRP, ether and litecoin on its platform. However, the investment-only service did not allow them to deposit or withdraw cryptocurrencies from their accounts.

Then, in May 2018, the firm announced it was launching a fully fledged cryptocurrency exchange with a wallet service and the addition of the dash, bitcoin cash, stellar, ethereum classic, NEO and EOS cryptocurrencies.

The announcement also saw customers in the U.S. gain access to cryptos on the platform for the first time.

Just yesterday, the token of the IOTA project was also added to the platform.

Premier League football image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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eToro: Litecoin Price Could Be a “Massive Discount to What it Should be Worth”

Charlie Lee: Creator of Litecoin

Litecoin (LTC) could be one of the best investment opportunities available in crypto-verse. This was reflected in a report released by e-Toro this August, in which they talk about the evolution and current status of the popular cryptocurrency created by Charlie Lee.

The “LTC Market Research” was prepared under the responsibility of Mati Greenspan, a well-known analyst and expert in the field of cryptocurrencies, who did not hesitate to show the advantages of said cryptocurrency, as well as a favorable future outlook for the prices of this popular blockchain token.

Litecoin: Silver 2.0

Litecoin“If Bitcoin is digital gold, then Litecoin is digital silver.” Such are the words with which the report begins, allowing investors and the general public to place their minds in a more traditional context (the commodities market).

The report says that LTC has similar uses to those of Bitcoin, although due to its own characteristics it can be closer to the definition of “liquid money” than to that of “store of value”, despite being suitable to fulfill both roles.

“Litecoin (LTC) is by far one of the most established networks in the crypto space. It is already being used by many as a store of value and means of exchange and so can be considered as money”

Buy The Dip?

The report shows a potential long-term bullish trend in prices, thanks to a series of groundbreaking partnerships that the development team has been achieving over time. For e-Toro, the current timeframes represent an excellent opportunity to buy and invest in this cryptocurrency:

“The groundbreaking partnerships that are being formed by the Litecoin Foundation position this crypto for long-term success. According to the metrics we have analyzed below, the current price that LTC is trading at could be seen as a massive discount to what it should be worth.”

Bitcoin and Litecoin: Similar but Different (Just as Gold and Silver)

BTC TradingMr. Greenspan also commented that there are numerous factors that allow to easily compare LTC and BTC with the Silver and Gold market. From the availability of both goods to the ease of mining and price fluctuation, Litecoin points more to convenience while Bitcoin points to accumulation and big operations:

Litecoin, being cheaper, more numerous and permitting faster and quicker transactions, aims to become a standard for smaller transactions, while Bitcoin can remain as the coin of choice for very large payments and store of value …

The ratio between Bitcoin and Litecoin is also rather similar to that of Silver and Gold.”

Mati also mentioned that it is possible that Litecoin is currently oversold due to the current bear market. It is important, however, to thoroughly investigate not only this crypto but all other options before making a risky financial investment.

Right now, LTC is traded at around 57USD. The cryptocurrency is ranked 7 on the global marketcap

Graph: Coinmarketcap

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Cardano Technical Advantages and Potential: ADA Listed on OKEx

After publishing the Cardano – ADA research report by Etoro, much technological and fundamental value has been showcased and acknowledged by the community. Proportionally, to reach a fully functioning product in at least 2 years, various projects have will be initiating by Q3 of 2018.

Cardano

Running on the much more advanced consensus  protocol Ouroboros compared to the PoW that Bitcoin uses. The Ouroboros is not necessarily mining related which give the team a possibility to make it less costly.

Introducing the Two-Layer Network, changes and various improvements can be made to the blockchain without the need of a fork as it has been used before on Ethereum or Bitcoin. The two layers are known as CSL – Cardano Settlement Layer and CCL Cardano Computer Layer.

Cardano’s e-Wallet is called Daedalus, one of a kind in the market. It gives users the ability to activate decentralized applications within the cryptocurrency’s Blockchain. So, it’s both very powerful, versatile and safe.

What makes blockchain very welcomed in the financial and various other sectors, is its solution-offering power for different loopholes that managing systems have. Cardano’s blockchain can be used to track goods while on the way through the use of smart contracts and an online ledger.

ADA OKEx

The digital asset ADA [Cardano’s Token] is on the list for available tokens to change hands in the OKEx crypto-exchange.

Started in 2014 by the CEO of OKCoin, Star Xu, OKEx is one of the largest digital asset exchange platforms in the world and provides hundreds of token and futures trading pairs. Earlier this year OKEx announced its plans to expand into Malta.

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