BITCOIN EXPECTED TO CROSS THE RUBICON IN 2019, 2020.

Glen Goodman a financial trader and cryptocurrency author who doubles as a well renown stock trade with his registered success during the bearish market of 2008, has made it clear in one of his statements where he mentioned that Bitcoin and digital currency as a whole, as a once in a lifetime investment opportunity.

By - June 20, 2019
trading chart

Speculations by financial traders

Glen Goodman a financial trader and cryptocurrency author who doubles as a well renown stock trade with his registered success during the bearish market of 2008, has made it clear in one of his statements where he mentioned that Bitcoin and digital currency as a whole, as a once in a lifetime investment opportunity.

He has been in the, market at almost the same time Bitcoin also came into the market and as he says from the data he has compiled over the years, which also drove him to publish a book “The crypto trader” which has very many eye-catching information, one of the phrases that couldn’t cross our eyes was

A multi-billion-dollar market has arisen from nothing in less than a decade. Huge fortunes have been made. Some, of course, have been made and then lost almost as quickly—as with any new market, there are dramatic up and downs—but many more will be made in the future,”

                                                                                                              Glenn Goodman.

Bitcoin could be trading at $30,000 by year-end.

Jehan Chu, co-founder and managing partner of Hong Kong-based venture capital outfit Kenetic, in his recent interview on Bloomberg became on the speculators whose words will now be followed through history about Bitcoin’s possibility to be trading at $30,000 by year end, it’s a large figure, but, “the market has no limit” he further stated and also confirmed that “ mindshare” will be the springboard of price increase from giants of finance and tech getting on board and the looming happening in block rewards next year.

Between February 12, 2019, BTC has shown a marginal upward surge from a bearish $3500 trading figure to a bullish figure of $9k by May 20th, 2019 where it did not last for long until it returned to a figure of around $7688. 08 on 9th June 2019.

The recent price increase of bitcoin has gotten traders and financial investors rolling over their investments and identifying cryptocurrency as an ultimate investment opportunity for the future.

Price predictions have put an actual figure of $9000 which has been crossed at the moment and 25k which has been one of the biggest predictions by TOM LEE by the end of 2019 and potential increases in the coming years.

STATUS OF CRYPTOCURRENCY

The current status of cryptocurrencies is that many ALT coins are coming up and they are closely following behind bitcoin in price increase and value.

Bitcoin is rushing steadily against the dollar in pursuit of its value increase this has the rest of the digital currencies towing behind, the according to Coinmarketcap.com, as of April 2nd, 2018 the total capitalization of the cryptocurrency market was around 263 billion US dollars, spanning 1,596 different coins, with Bitcoin dominating at 45.5%.

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USD/BTC in a bullish run.

 

At the time of writing bitcoin is at $8,273 while other ALT coins are in the green these include;

XRP $0.40.

ETH $256.

BCH $411.

EOS $6.39.

LTC $131.

NEO $13.

DASH $153

Etc….

Top ten cryptocurrencies

display of to ten price description’s courtesy of coin360

 

 

 

With the above top ten cryptocurrencies following suit in BTCS footsteps, we can’t help but notice the price margin between the first digital currency and the second. It’s quite outstanding with a difference of $8395.69, and now the question which has no definite answer up to now is that will alt coins catch up or  even suppress Bitcoin, well its out for speculation and other several determinants such as large financial investors getting on board, increase demand on the exchanges these are just the speculations in the long run because the market dynamics are a nexus of paths to entirely rely on.

One thing for sure is that the altcoins are part of this journey and bring unique features to the table in the cryptocurrency industry, for example, Ethereums smart contracts and the platform for creating Dapps (Decentralized Applications) that as a whole will take over the economic and trading aspects of the world’s economy.

Also getting back to J Jehan Chu’s recent interview on Bloomberg He mentioned that,”from a utility standpoint the rate of adoption and the Etherum team in providing a decentralized global computer is just outstanding, people keep saying Ethereum is going away but it’s not going anywhere it’s one of the largest coins in the world with the largest developers on the internet” he also added that, “Ethereum is a bullish call”

 

CRYPTOCURRENCY ACCEPTANCE IN TODAY’S SOCIETY

In over 200 countries cryptocurrency has been introduced and the knowledge about it is known to many. In western countries it’s been used in trade on IEOS offering loans, investing in companies through ICO and is also storage of value although many governments don’t seem to look at it as a storage of value except a few like Australia whose government designed a road map to achieve digital currency development goals in the Ministry of science and technology.

The countries that where cryptocurrencies are accepted and regulated have increased from just four by 2017 which included Estonia, United States of America, South Korea, Hong Kong, Australia that have been joined by Finland, Belgium, Canada, Bulgaria, Germany, United Kingdom and European Union many more countries are yet to join these no doubt. However, there are various laws and regulations surrounding these transactions in different countries.

 

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