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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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Bears Getting Their Jabs in During Bitcoin Downtime

Since Bitcoin took a tumble from the great heights of $20,000, the positive predictions have abated with the bears emerging from their caves, getting more vocal as they do. In such a market for Bitcoin, it is easy to predict downturns, which is fueling many anti-Bitcoiners to spread negativity about bubbles and crashes.

Cleary buoyed by his last statement on Bitcoin Peter Boockvar is one of these such people. He has come out again saying the bubble is about to pop and Bitcoin will fall to about $1,000.

The Chief Investment officer at Bleakley Advisory Group called Bitcoin crashing a few days before it tipped $20,000 and then collapsed to half that.

This Wall Street veteran again highlights the divide that is still strongly cut in Wall Street. With more adoption, there has been some softening of opinions, so much so that even the steadfast Jamie Dimon has changed his tune.

In the current cryptocurrency market, it is easy to make dire predictions on the likes of Bitcoin, which is struggling to make it back from its drop. As such, there has been an onrushing of bears to the fore.

FUD or market manipulation?

These predictions cannot be stopped, or nor should they, for it is freedom of speech and the opinion of an expert in the field – albeit sometimes the field of institutionalized investing is distant from cryptomarkets.

However, their power is akin to the power of positive prediction and the hype that comes with them. In the run to Bitcoin’s peak last year, the likes of Ronnie Moas, John McAfee, Tom Lee and others were battling to keep their predictions up with the rising price of the digital currency.

90 percent down by year-end

Those Bulls have been silenced somewhat  and it has left a soapbox open for Boockvar, who said:

“I think over time Bitcoin’s going to be around for a long time but the price itself I wouldn’t be surprised if over the next year it’s down to $1,000 to $3,000.”

This is, of course, an opinion of someone who has been anti-Bitcoin from the outset, and bearish on its chances. What this entails for Boockvar is more how it can impact the stock market, an environment the Wall Street veteran is far more comfortable in.

“From an economic standpoint it’s not really something that’s relevant in a $19 tln economy,” Boockvar said when asked if Bitcoin’s collapse would have far-reaching implications.

“Maybe in South Korea and Japan – and even in the US – where people are taking on credit card debt to buy coins, yeah they are going to be necessarily impacted,” he added.

Who to trust

While the sentiment in the crypto market is always seemingly heavily swayed one way or the other, with very little time for a stable middle ground, it becomes tough to follow opinions. In these bearish times, it is easy to make negative comments on Bitcoins chances, and equally so, it is easy to predict the moon in the good times.

Co-founder and Fundstat strategist, Lee is one of the few on Bitcoiners that are speaking out. Instead of seeing the low points in Bitcoins trajectory as panic points, he sees them as buy opportunities. Lee said:

“We expect Bitcoin’s major low to be $9,000, and we would be aggressive buyers around that level […] We view this $9,000 as the biggest buying opportunity in 2018.”

He also added a reversal of Boockvar’s opinion forecasting that Ethereum and Ethereum Classic would see about 90 percent growth by the end of the year.

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Cryptocurrency Market Takes a Tumble as Ripple Bubble Fear Looms

2018 did not begin on a good note for Bitcoin as the monster rally leading to Christmas crashed, but it made a bit of a recovery in and among a boom for a number of altcoins. However, Monday has not been a good day for the entire cryptocurrency market.

Looking down the graphs of the top cryptocurrencies, you’d be hard-pressed to find one in the black as all of the top 10 coins hit a downward trend, led by Ripple which had dropped by almost 28 percent over the last 24 hours.

Red across the board

Coinmarketcap showed some unpleasant numbers for all top 10 coins as Bitcoin was registered as being down 11 percent, Ripple down 28 percent and Bitcoin Cash down 20 percent.

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Ripple’s losses were by and far the biggest, especially considering the growth the coin experienced in the past few weeks. Ripple reached $3 a coin a few days ago after it was added to Bloomberg’s price terminal in late December.

South Korea also recently pushed up the altcoin market as the mania strike the Asian country with Ripple’s doubling up attributed to South Korea being taken with the Blockchain-based payment solution for enterprise-level global payment transactions.

A bubble in the Ripple?

The low Ripple numbers may be down to the fact that Coinmarketcap does not including information from some South Korean exchanges, but there are other concerns afoot.

“The reason ripple is surging so much is it’s a bubble,” said Erik Voorhees, CEO of digital asset exchange ShapeShift and a vocal advocate for Bitcoin as a way to separate money and the state. “Testing crypto with banks doesn’t make sense. The whole idea of crypto is you don’t need a bank.”

The technology behind Ripple is aimed at large institutions, which has given it an air of legitimacy which in turn has spurred the price and build a hype for investors.

However, cryptocurrency enthusiasts say that centralization is the exact opposite of what the technology of the digital currencies should be about.

Altcoin season

Many saw the recent dip in Bitcoin’s dominance as the reemergence of altcoins, with Ripple, and even other minor coins like Verge stealing the limelight. However, this recent dip seems to suggest that there are still strong ties between many coins to the dominant force that is Bitcoin.

The adage goes that: ‘A rising tide lifts all boats,’ and the same goes for a falling one. With Bitcoin still being the biggest boat in the bay, it makes sense that should an issue affect it and its price, other coins in the crypto market will also feel the effect.

Famed stock picker Ronnie Moas recently predicted that there would be a reverse on this so-called ‘altcoin season,’ and perhaps, this is it as everyone goes down before the most established digital currency again rises up.

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2018 Will Determine Bitcoin’s Long-Term Role, Says Early Facebook Investor McNamee

Roger McNamee, an American venture capitalist and early investor in Facebook, predicted that 2018 will be a make or break year for Bitcoin (BTC) in an interview with CNBC on Thursday.

The tech investor believes Bitcoin’s notable rise in value this year is due mostly to speculation but points out that the coin’s potential legitimacy depends on its endurance in the coming year:

“[Bitcoin] is still a very small market in the context of the larger financial world, but it has had a huge year and we’ve done it around a speculative mania. The thing that people forget is that if a mania goes on long enough, it becomes self-fulfilling. So that even after the crash that follows, there is a real industry.”

According to McNamee, the Bitcoin market’s current performance – with a market cap of $246 bln and a 24 hr trading volume of  $12 bln at press time – shows that it has the potential to attract more big money, which could eventually make it an established part of the global financial market:

“With the level of activity going on…there are people that are willing to invest the kind of dollars it takes to make a thing like Bitcoin into a long-term part of the financial market…The big thing about 2018 is that I think we’re going to find out one way or the other.”

Exactly a week ago, Bitcoin, along with the entire crypto market, suffered a severe dip, with BTC alone dropping almost 30 percent. The market quickly recovered, but the past week has been marked by a volatility that is not particularly new to the market.

According to McNamee, there is only more volatility to come next year, but how it “settles out” will determine Bitcoin’s durability long-term:

“You’ll have these big swings, up and presumably down, as well. And, you know, wherever that settles out I think will tell us a lot about the role of Bitcoin long-term. I don’t think it will be the end of the story either way.”

In other predictions for the New Year, well-known stock analyst Ronnie Moas thinks Bitcoin could hit a $28,000 high in 2018. Like McNamee, Dr. Julian Hosp, the co-founder of TenX, sees more extreme volatility for the coin, saying the price could reach as high as $60,000 or as low as $5,000 in the coming year.

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Bitcoin Destined For $28,000 In 2018 – Moas

If it hadn’t been for a massive price correction in the week leading up to Christmas, another big price prediction for Bitcoin in 2018 wouldn’t be hard to believe.

However, Bitcoin and other cryptocurrencies saw big drops in market capitalization due to a number of factors and lofty predictions seemed unfathomable in the wake of a massive drop in value.

Considering that the markets have now consolidated and the likes of Bitcoin and Ethereum have recovered well – it’s fitting that we revisit some targets set by the likes of Moas, who has delivered some reliable, well-informed valuations in 2017.

Speaking to Cointelegraph last week in an exclusive profile interview, Moas explained why he believes Bitcoin is destined to become the most valuable currency in the world. The 50-year-old is confident it will eventually surpass China and Gold in terms of market capitalization:

“Bitcoin would have to jump 20x from where it is now to hit that number one spot. That would put its valuation at around $6 tln, which is near where Gold and China are right now.”

“Why do I think Bitcoin deserves the same valuation as gold? It’s very simple, I don’t know how much Gold there is in the ground, But I know how much Bitcoin there is, and I also know that if the current pace continues with one to two mln people around the world opening up new crypto accounts. We will have a few hundred million people by this time two years from now trying to get their hands on a few million Bitcoin that are available.”

Another driving factor in Moas’ 2018 prediction is the actual supply of Bitcoin. A recent study estimated that nearly four mln Bitcoin are lost forever – accounting for over 20 percent of the coins mined to this day. That isn’t counting bullish investors that ‘hodl’ their Bitcoin:

“The number (of Bitcoin available) is a lot lower than what people think it is. A lot of the Bitcoin has been lost, some of it hasn’t been mined and then you have a lot of people like myself that just won’t sell their Bitcoin at any price.”

So where does that leave Moas in terms of a price target in 2018? To understand how he goes about putting a price on the virtual currency, we need to understand where he started in the first place:

“My feeling all along is that Bitcoin is going to hit the top of the mountain. As far as my price targets go, I started out with a $50,000 target back in July – we were at $2,570 at the time. Had I told people where I really thought it was going at the time, they would have thought I was on drugs. You can’t put out $200-300,000 target on something when it’s trading at $2,570, people just won’t take you seriously.”

“So what I did was put my target out, and every few weeks as news comes out, and the obstacles and dominoes in Bitcoin’s path get knocked down, I adjust my price target.”

Moas has drawn a line in the sand already:

“My target for 2018 is $28,000 and it may get upgraded again in the next few months.”

Futures legitimise crypto

Taking Bitcoin at its present value around means that a lot of ground needs to be made if it is going to meet Moas’ expectation in the next 12 months.

However, the top-rated stock picker points to the favorable reaction to the launch of Bitcoin futures contracts and the ramifications and future prospects of mass-adoption by Wall Street.

“A lot of people don’t realize that everything I learned in my 20 years in the stock market has translated into the crypto market and it puts me in a unique situation to understand what is going on right now.”

“People that don’t understand how financial markets work have probably already exited Bitcoin after it doubled, tripled and quadrupled.”

Moas insists that people should not sell their Bitcoin and treat it like bullish investors treated Amazon over the years.

“In the last 15 years, Amazon went from 20 dollars to $1,150, even though people were trying to short it the entire time, arguing that this company was not worth what it was trading at because up until a few years ago Amazon was losing money on every single book they sold. There were some people that just didn’t understand how this thing was being valued so they bet against it and they got their heads handed to them on a plate.”

Aiming his sights at Bitcoin bears that have now entered the market, Moas warned that they could get burned if they try to short the market.

“That is what will happen to the people that try to bet against Bitcoin. That’s why I’m not worried about what is going on in the futures market. The futures market is basically a stamp of approval on crypto and it legitimises crypto as a new asset class. There will be a little bit of extra volatility now that CME and CBOE are involved but once Wall Street enters the arena, the floodgates will open.”

If you missed our feature on Moas, check it out here.

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Ronnie Moas – Not a Billionaire, But a Crypto Guru

Ronnie Moas, founder of Standpoint Research, who has given Cointelegraph some of the most accurate price predictions on Bitcoin this year, in an exclusive interview, spoke about his journey through Wall Street, his charitable endeavors and his new-found love for cryptocurrencies.

Renowned stock picker Ronnie Moas is many things, but he certainly IS NOT a billionaire, nor a former hedge fund manager, as was incorrectly reported by this writer earlier this week.

In fact, the 50-year-old admits that there is no place he would hate being more than in a room full of the world’s richest people. It is almost contradictory, given that the founder of Standpoint Research has been giving fortune-making stock recommendations for the past 20 years.

“I am not a billionaire, and I would not want to be seen in the same room as a billionaire. I am nauseated by the way they behave, I am nauseated by the amount of money they spend on themselves when we have people starving to death in this world.”

“One needs to raise their voice, as speaking nicely to the people at the top of the vulture capitalist pyramid is not working very well.”

A tale of two cities

It is not hard to understand Moas’ animosity towards opulent billionaires and the gross division between rich and poor, given that he has helped many people become wealthy. While some choose to hoard their wealth, he has taken it upon himself to give to those less fortunate.

While his charitable endeavors are a passion, they are byproduct of his upbringing and Education.

Born in New York, Moas grew up in the city. At 16-years- old, his family returned to his father’s birthplace in Israel where Moas finished school and started a degree, which he had to postpone to serve in the Israeli military.

A self-proclaimed ‘wizard’ with numbers growing up, he eventually returned to New York in 1994 where he went on to complete a Masters of Business Administration degree at Baruch College, City University of New York. Coupled with an Honors undergraduate degree in Economics and Business, he began to pave his way to success.

Cutting his teeth in the world of stock recommendations, he quickly became renowned for his accurate predictions. While he plugged away the hours, Moas developed his own 155-variable equity valuation model over a five-year period in the late 1990s and early 2000s.

Moas attributes his success to a combination of the ideas generated by his model, as well as the insights he delivers in strategic reports.

“First of all, I outworked most in my industry. The ideas are generated by the 155-variable computer model. I don’t just tell you I like a name because it scored well on my model, I apply heavy fundamental and subjective overlays and then I go out with a 20-40 page report to back it up.”

“That is why I was able to separate myself from the pack. If you are doing the same thing as everyone else on Wall Street, you will end up with the same results. You have to be a сontrarian.”

“The computer model is my ‘secret sauce’. It allows me to crunch numbers on thousands of names in a matter of minutes and then I can focus on the names that rise to the top.”

The Robin Hood of Wall Street

Having spent the last 20 years providing the very best stock analysis to various clientele, Moas has rubbed shoulders with some of the richest people out there. Perhaps that is why he has taken it upon himself to give back to the poorest of the poor, Robin Hood-esque, having seen wealth and greed in the ugliest light.

For the past decade, Moas has been closely involved with Food for the Poor, one of the largest, five-star rated charity organizations in the US. Moas has devoted a lot his personal time, energy and resources to the charity.

Reflecting on a trip to Haiti earlier this year with Angel Aloma, the charity’s executive director, Moas described the abject poverty most Haitians are living in.

“It is the poorest country in the Western Hemisphere and most people there live on less than four dollars a day. The government has no tax revenue and is not able to assist the starving and struggling population,” Moas said.

“Had anyone seen what I saw with my own eyes, not only the conditions these people live in, but the work that Food for the Poor does there, they would understand why I would take the shirt off my back for this charity and the poor.”

As a personal champion for the charity, Moas aims to raise $10 mln in funds for the organization – which is used to collect and distribute humanitarian aid, materials and supplies to the 18 Caribbean and Latin American countries supported by Food for the Poor.

In 2017, the charity built 5,000 double-unit concrete homes; distributed 4,000 container loads of humanitarian aid and more than 400 mln meals. Administrative expenses were less than five percent.

Highlighting the injustice of the modern world, Moas said wealthy individuals need to donate a fraction of their wealth to help others in need.

“If you donate $100, it buys 400 pounds of rice and beans. That’s enough to feed two starving children for an entire year. Three mln children have starved to death worldwide in 2017.”

To date, Moas has raised over $118,000 from more than 500 donations and says it is only a matter of time until he reaches his goal. You can provide donations here.

Work, travel, music

You wouldn’t be wrong if you consider Moas a workaholic. For the past 10 years, he’s been consistently rated as one of the best stock pickers in the world. With the help of a small and trusted team at Standpoint Research, he delivers stock analysis on a daily basis.

When he finds the time, travel and music are favorite pastimes. When he lived in Israel, he worked for Shuki Weiss Productions who has been bringing the biggest artists and bands in the World to Israel for the past 25 years.

Moas says Tel Aviv has become a central point for bands to play, given the socio-political turmoil in surrounding countries. Guns N’ Roses and Aerosmith recently chose to end their respective European tours in Tel Aviv.

With a collection of more than 1,500 CDs, Moas has a broad taste in music. Pushed for a list of favorites, he singles out legendary rock bands like Led Zeppelin, Motorhead, AC/DC, The Cult and Judas Priest.

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His love of music is matched by what can only be described as a wanderlust, having visited more than 70 countries. He will be departing this week on a 38-day trip which will include stops in Mexico City, Los Angeles, Fiji, New Zealand, Australia, Singapore, Malaysia, Thailand, the Philippines, Oman and Amsterdam.

The midpoint of his trip is eagerly anticipated for the cryptocurrency world, as Moas will be co-headlining at the Coinsbank Blockchain Cruise. The cruise around Singapore, Malaysia and Thailand includes the most influential people in the cryptocurrency space, from John McAfee to Tone Vays.

Riding the crypto wave

Moas has quickly become a trusted voice in the cryptocurrency space, especially when it comes to valuations and price predictions. He has been spot on with a number of predictions in 2017 – which is extraordinary if you consider that he only started analyzing the cryptocurrency market this year.

“It happened six months ago. I was in my stock market bubble and I wasn’t even looking at cryptocurrencies. I was like everyone else on Wall Street – we would hear the name Bitcoin in passing and it sounded like some far-fetched concept and I paid no attention to it whatsoever,” Moas said.

“Someone told me to take a look at Ethereum and that weekend I ended up taking a look at Bitcoin as well and it only took me a few hours to realize what was going on there. I just pounced on it and since then I haven’t looked back.”

The accuracy of his recommendations have led to a surge in business, and Moas says 90 percent of his clients are now looking for cryptocurrency recommendations.

It’s hardly surprising that his name produces more than 1000 results on Google when searched alongside ‘Bitcoin,’ and his Twitter following shot up from 7,000 to more than 22,000 in the space of a few months.

Voltaire coined the phrase ‘with great power comes great responsibility,’ and it is a concept Moas is well-aware of, given his influence over people’s decisions to invest in cryptocurrencies.

“It’s flattering and rewarding from an emotional standpoint, but you have to understand that it’s a lot of responsibility I have on my shoulders right now. I have people from all over the world that are putting a big chunk of their life-savings behind my recommendations.”

“I have people calling me from third world countries who have an eighth of a Bitcoin, worth $2,000, hoping that it will be worth $20,000 one day so that they can rescue their entire family from poverty.”

And so it goes. Moas, the man who proverbially steals from the rich and gives to the poor, is fast becoming an insightful and trusted critic of cryptocurrencies and their future valuations. When Moas puts a number on something, you’d best sit up and take notice.

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Bullish Moas – Bitcoin Destined For Another 500% Rise

Having successfully predicted recent Bitcoin highs, Standpoint Research Founder Ronnie Moas sees lofty highs for the preeminent cryptocurrency in the next year.

In August, the billionaire former hedge fund manager tentatively forecasted Bitcoin’s rise to the $20,000 mark in three years, but his timelines were quite off the mark. Two months later, amid the start of Bitcoin’s outrageous bull run and talk of the launch of futures trading, Moas changed that prediction to 2018.

Speaking to CNBC ahead of the launch of Bitcoin futures on the Chicago Mercantile Exchange, Moas believes Bitcoin will see another 500 percent rise next year.

“Bitcoin is already up 500 percent since I recommended it in the beginning of July, and I’m looking for another 500 percent move from here. The end-game on Bitcoin is that it will hit $300,000 to $400,000 in my opinion, and it will be the most valuable currency in the world.”

Most valuable currency in the world

It’s not hard to understand why Moas is taking a far more brazen approach to Bitcoin – given the way it has exceeded all predictions and death-sentences.

Moas says the cryptocurrency cap at 21 mln tokens is a major factor in its rapidly rising value. Again, he drew a comparison to gold but insists the cryptocurrency will be far more valuable as millions of people look to a slice of the action.

“I don’t know how much gold there is in the ground, but I know how much Bitcoin there is, and in two years there will be 300 mln people in the world trying to get their hands on a few million Bitcoin.”

Bitcoin’s volatility has been a hot talking point over the past few months, with enthusiasts and industry specialists taking the ‘hodl’ approach. The bullish approach has created scarcity on the market which has driven up value.

People are constantly asking if it’s ‘too late to buy Bitcoin,’ but Moas insists on buying in dips constantly.

“I look at Bitcoin the same way I look at Amazon. The way to play Amazon for the last 15 years was to buy it, hold it, and add on the dips. That’s exactly the way I think people should be playing Bitcoin.”

Naysayers still bleating

Axel Weber, head of Swiss bank UBS, hit out at Bitcoin in an article published on Sunday and called for strict regulation.

“We as a bank have very consciously warned against this product because we do not consider it valid and sustainable.”

He is one of a plethora of traditional banking and financial institution heads that are staying clear of cryptocurrencies.

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Is it Ever Too Late to Buy Bitcoin? $100 Then and Now

One of the reasons that Bitcoin is capturing the hearts and minds of individuals is the stories of instant millionaires who have made their fortune from being an early adopter. People who were mining the coin or accumulating it by the hundred, and were smart enough to hold onto it today are experiencing unprecedented profit.

With the monumental price gain, however, people are starting to wonder where the ceiling is, and if it is not fast approaching. To this end, there is a section of the population who are wondering: ‘is it too late to get into Bitcoin?’

However, this is not a new question, it is a question that was asked when Bitcoin was at $10, $100, $1,000 all the way up to over $17,000 where it sits today.

There is, of course, no doubting that those who were really early to the party are the biggest profiteers, and for envy’s sake, it is worth looking at what has been achieved in just seven years.

What would $100 of Bitcoin be worth today?

Had you put $100 into Bitcoin starting back in 2010, and going through the years, you would have made massive profits along the way.

July 28, 2010: $100 back in 2010 – baring in mind this is a full two years after Satoshi Nakamoto put out his whitepaper on Bitcoin – would net you at today’s value a whopping $28,341,266. One Bitcoin back then was worth just $0.06

Dec. 12, 2011: Within 18 months, there would have been plenty time to get involved in Bitcoin, but by this time the price was up over 3,000 percent, and people were already asking, ‘is it too late?’. Bitcoin was worth $3.19 and $100 back then would net you over half a million dollars ($533,065)

Dec. 10, 2012: A year later, and Bitcoin was still climbing high, now breaking into the teens sitting at $13.54, a gain of 300 percent. $100 would have turned to $125. Still remarkably impressive in terms of gains, but slowing somewhat from 18 months earlier – Does that mean its rise is coming to an end perhaps?

Dec. 16, 2013: Hindsight is, of course, a fantastic thing as the next year the price of Bitcoin was up to $638 and thus doubling as an investment. So, $100 worth back then would be pocket change right? Well, it would be worth $2,665 today.

Dec. 8, 2014: Bitcoin was starting to be heard in whispers around the dinner table about now, but people also heard that there were black markets, hacks, and other nefarious uses, yet $100 worth back then would be worth $4,859 today.

Dec. 12, 2016: Through the harder years from 2014 and the slowed growth, Bitcoin would not have been that attractive, but really, it would have been a perfect time to buy. The explosion was just about to happen. Bitcoin was trading for $780. Had you put $100 into it, that investment would have increased by more than 2,000 percent to $2,180.

June 12, 2017: Six months ago, no one thought Bitcoin could go much higher than the $2,500 it stood at. But of course, it was about to take off again.

Dec. 5, 2017: This week alone has seen some crazy movement. Had you bought $100 worth of Bitcoin just a few days ago, you could sell it today for $145.

Dec. 10, 2017: – If you had bought at the low on Sunday’s slump (when prices fell to $13,160), that $100 would be worth $129.

What the future holds

No one knows what will come next, but it could be safe to say that pretty much anyone who bought Bitcoin more than a week ago is profiting already.

They may still be classified as early investors, or they may not, and although they may not experience gains of 3,000 percent, the feeling is Bitcoin has a long way to grow.

Ronnie Moas, a famed stock picker has put forward an argument that Bitcoin is highly undervalued even at today’s prices. Moas said:

“We currently have $200 tln in the world tied up in cash, stocks, bonds and gold alone and all four of those, in my opinion, are overvalued. If 1/2 of one percent of that 200 tln dollars ends up in Bitcoin, you are looking at a one tln dollar valuation that would be above where Apple Computers, the most valuable company in the World, is today.”

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Twitter Reacts to CBOE Crash at Launch of Bitcoin Futures

The highly anticipated launch of Bitcoin futures on the CBOE exchange was as fortuitous as one could expect in the world of cryptocurrencies, as the trading platform crashed in the first hour of being open.

Having scoffed at cryptocurrency exchanges struggling to meet the massive influx of people trying to enter the market over the past two weeks, mainstream financial institutions caught a glimpse of the behemoth that Bitcoin has become.

Nevertheless, Bitcoin futures have officially been launched and their reality has seen the market react positively.

Social media platforms were understandably busy – and people from all walks of life were giving their two cents worth in reaction to the newly launch futures.

Renowned stock picker Ronnie Moas reflected back on the launch of Amazon back in 1997 and how it has grown and survived the notorious dot.com bubble. He also threw in hopes of a $100,000 high:

This user claimed to be the first ever person to secure a Bitcoin futures contract:

American actor James Woods has been outspoken about Bitcoin in recent times, taking a speculative and cautious stance at the very best.

Financial commentator and broadcaster Brian Kelly captured the first three Bitcoin futures listed on CBOE:

Bitcoin podcaster Trace Meyer took a dig at CBOE and Coinbase as their sites went down – while noting the Bitcoin network was going strong:

Financial editor Holger Zschaepitz highlighted the most important fact – Bitcoin price was somewhat stable while the CBOE crashed.

Long week ahead

While the initial launch of Bitcoin futures didn’t go as smoothly as CBOE may have hoped, the reality and effect of futures will only be truly felt when trading moves into full swing later today.

Nevertheless, CBOE tweeted that nearly 1,000 contract trades had been placed after two hours of initial trading.

Bloomberg reported that two price circuit breakers were triggered during the first few hours of trading – an automated mechanism which is used to control volatility. CBOE will cut trading for five minutes if the Bitcoin price rallies by more than 30 percent.

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John McAfee Doubles Down, Predicts $1 Mln BTC, Bets His D**k On It

John McAfee, founder of McAfee Associates a well-known software company has always been Bullish on Bitcoin, in fact, he has even been confrontational on the fact.

In July, with a lot of fear and uncertainty surrounding Bitcoin ahead of its Aug. 1 chain split, McAfee came forward and stated boldly that he was willing to stake his name and up to $10 mln on a bet that the Bitcoin price will move above $500,000 within three years or he would “eat my d**k on national television.”

That prediction was seen as ludacris at the time, and many were left wondering how his on-screen promise would play out – however, now that Bitcoin has crossed $11,000, McAfee is not sitting back smugly, but rather raising the bar.

The outspoken tech mogul has now said:

“When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 mln by the end of 2020. I will still eat my dick if wrong.”

Predictions abound

With the feeling being that Bitcoin has truly crossed the mainstream adoption threshold, and the dam wall has broken, many big-name players have lent their thoughts to a predicted target.

Ronnie Moas, famed stock picker, has tried to remain ahead of the curve, changing his prediction three times in the month of November already. He began at $11,000 for the new year but then changed it to $14,000, before now settling on $20,000 for a split-adjusted price.

Tom Lee, much more cautiously, said:

“Bitcoin fell to $5,600 and since then rebounded. In our view, this move to $5,600 cleaned up weak hands and we no longer feel caution is warranted. … We recommend steady buying of Bitcoin at these levels.”

He went on to predict 40 percent growth in seven months, but in all reality, Bitcoin fell short $200 of his $11,500 target this week.

Max Keiser is another one who has made a big and bold prediction, although it is only one-tenth of McAfee as he says Bitcoin at $100,000 is an eventuality.

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