Tag Archives: cryptocurrency

New Model: Bitcoin BTC to Reach Peak of 80000 in Next Cycle

New Model: Bitcoin (BTC) to Reach Peak of $80,000 in Next Cycle

Long-Term Outlook for Bitcoin

With Bitcoin (BTC) rapidly rallying by over 300% from 2018’s brutal bottom of $3,150, analysts have been wondering where this asset is going to head in the long term.

You see, while BTC is at $13,000 — which many say is already expensive enough for a digital asset that isn’t tangible — many proponents of cryptocurrency and technological idealists have come to the conclusion that this isn’t where Bitcoin’s story ends. On the contrary, actually. This may be Bitcoin’s true story begins. Sound dramatic, I know, but this may very well be the case.

CryptoHamster, an up-and-coming Twitter cryptocurrency analyst, recently posted the chart below, speculating as to where BTC could end up at the end of this cycle, which is likely to end in late-2020 or early-2021. Per his projections, which is based off an ascending channel on the logarithimic chart, Bitcoin will peak at around $80,000 in the coming year or two. A move to $80,000 from current levels would represent a 515% rally from $13,000 — crazy, right?

Interestingly, this hasn’t been the first time that the $80,000 figure has been mentioned by a prominent analyst. Per previous reports from Ethereum World News, Level’s Josh Rager notes that over Bitcoin’s three completed cycles, the trough to peak gains decreased by around 80% each time, which is a concept defined by the law of diminishing returns.

As Rager notes, 2011’s rally saw a return of 320,000%; 2014, 58,500%; and 2017, 12,000%. Thus, if history is followed to a tee, BTC will rally by 2,400% off its bottom, giving it a potential high of just shy of $80,000, this being $78,500.

Some have frankly been even more optimistic. Earlier this year, prominent trader Galaxy, claims that Bitcoin’s current monthly chart looks eerily similar to that seen in late-2015, when BTC finally began to embark on a rally yet again.

This is notable, as the last time BTC’s chart structure looked as it did now (a massive green candle after ~one year of selling pressure), what followed was a 6,500% price surge in a two-year time frame. Thus, Galaxy notes that if historical precedent is followed to a tee, a bull run of the previous one’s magnitude will place BTC at over $333,000 per unit by the end of 2021.

That may be a tad optimistic, for now anyway.

What Will Drive BTC Growth?

But what the hell is going to drive Bitcoin’s long-term growth?

According to Mark Yusko and Anthony Pompliano of Morgan Creek Digital, the answer to this pertinent question is rather simple.

This being continued institutional involvement from investors and groups that want to gain exposure to one of the best asymmetric bets in finance, and a ticket to the future of finance; and irresponsible fiscal policy, which will both drive demand for Bitcoin in the short term and in the long term.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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FT: Bitcoin BTC Rally Past 10000 is Making Wall Street Return

FT: Bitcoin (BTC) Rally Past $10,000 is Making Wall Street Return

Institutions Now Foraying into Bitcoin, Report Suggests

Bitcoin (BTC) may have lost its bullish momentum over the past few days, but institutions are purportedly still well on their way back to the crypto space.

Ever since 2017, crypto investors across the board have been eyeing institutions, trying to determine if giants in finance, technology, and retail were going to make a play in this embryonic industry. At first, Wall Street was all for Bitcoin: the CME and CBOE launched futures for the leading digital asset, Goldman Sachs hinted at its interest to launch a crypto asset trading desk, ETF giant BlackRock purportedly had a “task force” for digital assets, and a number of over-the-counter desks were propped up.

But, once BTC started to fall, institutions fell silent. Executives in finance stopped mentioning “cryptocurrency” or related buzzword, and some firms, like Goldman, dropped plans to make any ventures in the space. However, over the last couple of months, institutions have begun to express interest and Bitcoin and its ilk once again, likely recognizing that cryptocurrencies aren’t dead after all.

The New York Stock Exchange/Intercontinental Exchange launched Bakkt, a Bitcoin futures exchange and infrastructure play; Fidelity Investments launched its own crypto custody & trade execution service, all while continuing to mine BTC in-house; Nasdaq has claimed that it is working on cryptocurrency futures; and TD Ameritrade and E*Trade, two retail brokerage giants situated in the United States, are reported to have plans to launch spot Bitcoin trading to millions of investors shortly.

But, according to a recent report from the Financial Times, which, like many other mainstream outlets, have ramped up their coverage of cryptocurrency, the recovery in the Bitcoin price has rekindled Wall Street’s interest in crypto more than we may realize.

The outlet writes that “senior figures in the financial services industry” have begun to eye cryptocurrency. For instance, a Dutch exchange-traded fund firm, Flow Traders, added crypto assets. And, over 50 companies, including high-frequency trading/market making firms DRW and Jump Trading, have formed a group to “develop a ‘deep, efficient, and secure’ market”.

The Financial Times adds that there has been a resurgence in interest in the Asian market, especially Japan and China. Per David Mercer of LMAX Exchange, this shift in the market can be pinned to Bitcoin finding use as a hedge “against a deflationary monetary environment.” Indeed, Deutsche Bank analysts recently admitted that Bitcoin may find use as a way out of traditional finance, which many believe is on the edge of collapse, due to dovish fiscal policies on behalf of the world’s central banks.

Regardless of the exact reasoning institutions have for returning to the space, it seems that Wall Street and their counterparts in Asia and Europe believe that at long last, crypto is here to stay.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Bitcoin BTC May Fall by 25 to 9000 After Reaching 12400: Analyst

Bitcoin (BTC) May Fall by 25% to $9,000 After Reaching $12,400: Analyst

Bitcoin Ready to Fall by 25%?

Wow. After collapsing just the other day, Bitcoin (BTC) bulls are right back at it. Just yesterday, BTC was sitting at $10,400, having fallen by over $3,000 from its local peak at $13,800 — a key resistance level and the 0.618 Fibonacci Retracement level of the entire bear market. Now, the leading cryptocurrency sits at $12,300, still shy of $13,800. While this rapid recovery has many claiming that BTC is ready to take on new all-time highs once again, one analyst suggests that this recovery sits Bitcoin right up for yet another collapse.

In a recent TradingView analysis, known trader Financial Survivalism claimed that the chances of a strong correction have been building for a while now, ever since Bitcoin broke past $5,800 and then $8,000.

The analysis, posted some 24 hours ago as of the time of writing this report, predicted the rebound to $12,400, which is just over where Bitcoin sits now.

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This is important, as Survivalism predicted that once $12,400 has been hit, a correction to $9,000, which has acted as an important level of both support and resistance over the past few weeks, will begin to take place. This has yet to occur, but considering the accuracy of the target of $12,400, this 25% drop may come to fruition in the near future.

As to technical reasons for this reversal, Survivalism seemed to point out three. Firstly, a move to $9,000 would give Bitcoin a chance to revisit an uptrend support that BTC followed closely from late-April to just two weeks back. Secondly, the BitMEX funding rate has hit very high levels, implying that longs may need to close their positions, leading to a devaluation of the cryptocurrency. And lastly, the Average Directional Index, a technical analysis indicator meant to determine the strength of a trend, is “looking ready to roll over soon on the daily”, implying weakness.

Some Analysts Still Bullish Beyond Compare

While $9,000 seems to be on the table, especially considering the technical factors, some have been entirely optimistic. Naeem Aslam has remarked that as long as BTC stays above the 242-day moving average, which is somewhat unorthodox compared to the traditional 50 or 200-day, a correction is unlikely. In fact, he quips that in the short term, $20,000 is likely; and in the long run, Bitcoin could foray into the $60,000 to $100,000 range — just around five to eight times higher than current levels. Crazy, eh?

This may sound crazy to investors in traditional markets, most of which are used to 10% yearly gains, but many agree with Aslam’s cheer. In an email to CoinTelegraph, Simon Peters suggested that Bitcoin could reach $20,000 within one to two weeks.

The eToro analyst backed this claim by noting that when BTC first broke past $11,800 in 2017, it took just around a week or two to blast to $20,000. It is important to note that during the last boom, the conditions were different: the CME and CBOE had just announced their futures and retail investors were FOMOing.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Bitcoin BTC Rallying to 10000 is Only a Matter of Time: Analyst

Bitcoin (BTC) Rallying to $10,000 is Only a Matter of Time: Analyst

Bitcoin Rally to $10,000 on the Horizon

Over the past few days, Bitcoin (BTC) has stopped dead in its tracks. After rallying from a multi-week low of $7,450 to briefly flirt with $9,400, the cryptocurrency stopped its upward momentum. Since then, BTC has been rather flat, trading between $9,000 and $9,300. But, one analyst claims that the asset is poised to break out — upward that is. In a recent tweet, he laid out his thoughts.

As seen below, the analyst, Smart Contracter, who correctly called that Bitcoin was going to bottom around $3,500 at the start/middle of 2018, believes that BTC is soon poised to hit $10,000 for the first time since early-2018.

He claimed that BTC is currently trading in a triangle pattern, marked by an increasingly tighter range. With there being dropping volume, a break out is becoming increasingly likely. Per Smart Contracter’s use of wave analysis, this breakout will bring Bitcoin to $10,000. As he claims, “I think its only a matter of time now before we break up again.”

He isn’t the first to have claimed that $10,000 is inbound. In Tuesday’s segment of CNBC “Futures Now”, the two guest traders and Fundstrat’s Tom Lee claimed that they are currently bullish on cryptocurrency. One of the traders claimed that as long as BTC holds $9,100, he would be inclined to believe that Bitcoin can soon reach $10,200.

This comes briefly after Lee and his peers at Fundstrat claimed that $10,000 is the level to watch for Bitcoin. They claim that once Bitcoin reaches $10,000, “Level 10” FOMO will grace this market, which last occurred when BTC blipped above $4,500 in late-2017. If history is any guide, the cryptocurrency market will shoot even higher once $10,000 is breached. As the analyst wrote on Twitter earlier this month, “[$10,000] will see FOMO from those who gloated about the 90% crash in BTC… and those who saw Bitcoin dead as forever.”

Once $10,000 is broken past, Lee expects a “fast and furious” move to $20,000. And from there, the analyst claims that Bitcoin will double in the next five months, reaching $40,000 in a jaw-dropping move.

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Sentiment Wildly Bullish

The crypto community also seems to convinced that a further rally is only a matter of time. According to recent sentiment analysis compiled by analytics startup The TIE, there were 38,889 Bitcoin-related tweets yesterday — the highest daily count in June so far. 61.4% of tweets mentioning both Bitcoin and Libra were purportedly positive, marking overall bullish sentiment.

What’s more, overall crypto community sentiment is at its highest since May 15th, which was when BTC first started to move past $8,000 in this cycle. The TIE writes: “Despite a 2.5% drop in the price of Bitcoin it appears that the markets response to Facebook’s Libra release has been strongly positive.”

Original article written by Nick Chong and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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Investing in Bitcoin is it the Right Thing to Do?

Investing in Bitcoin, is it the Right Thing to Do?

All this talk about Bitcoin and the Blockchain has gotten me into doing additional research. So, what is Bitcoin? How do you get Bitcoin? Is Bitcoin legit, and is it what some people call, "The New Gold Rush"?

These and many other questions are answered in the Bitcoin Complete Guide ebook. Many have also concurred that Bitcoins are the future of currency worldwide. However, many Governments have only begun to sit up and take notice, whether of its value or validity.

If you're like most people, sceptical and unsure, the Bitcoin Complete Guide will give you the knowledge so you can make the right decisions about wheteher to invest in Bitcoin or not. If you're like a lot of the nay-sayers that are saying it's too late to invest, you may be missing out on one of the BIGGEST revolutions of our lifetime.

Bitcoins have ONLY been around since 2009; if you would have purchased Bitcoins back in 2012, you would have been graced with a greater than 6600% return. Today, most experts predict that Bitcoin will continue to increase in value and may even reach as high as $100,000 (USD).

No one knows, or can predict, the future, however, the writing is on the wall. Is it worth your time to learn more about the Bitcoin revolution? That's the question ONLY you can answer. If you don't know where to start, click on the following link to learn more about the Bitcoin Complete Guide ebook.

It may just be what the doctor ordered!

Posted on Markethive by Jeffrey Sloe

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Bitcoin BTC Needs to Pass 8200 to Kickstart Next Leg Higher

Bitcoin (BTC) Needs to Pass $8,200 to Kickstart Next Leg Higher

Bitcoin Needs $8,200

Over the past few days, Bitcoin (BTC) bulls have made their presence known once again, boosting the leading cryptocurrency from a multi-week low of $7,450 to $8,150 as of the time of writing this. While this solid price action, which comes after BTC has ostensibly topped at $9,100, has many enthused, the trend isn’t bullish just yet.

In a recent podcast with Forbes contributor Benjamin Pirus, prominent analyst Ledger Status, known as Brian Krogsgard off of the ‘interwebs’, explained that Bitcoin has one more key level to breach before resuming a clearly bullish trend.

In a recent podcast with Pirus (all credit to him), Ledger remarked that Bitcoin is currently in the midst of trying to determine whether it will consolidate at higher levels and eventually push higher, or is topping out to precede a strong retracement. Krogsgard notes that “$8,200 [is a key level] on the daily,” explaining that this coincides with the Bollinger Band midline (a key technical indicator meant to determine ranges, key support/resistance). From Ethereum World News’ point of view, $8,200 also lines up with the 0.786 of the Fibonacci Retracement from $9,100 to $5,000, meaning that it is a level to watch.

If $8,200 is surmounted, presumably meaning a daily close above that level, Krogsgard expects for Bitcoin to begin its next leg higher, meaning a move to retest its year-to-date highs and potentially continue even higher. So, is $8,200 possible?

According to a number of analysts, for sure. Per previous reports from this outlet, the asset’s four-hour chart is looking like an Accumulation pattern laid out by technical analysis guru and legend Richard Wyckoff. If the textbook pattern plays out in full, analyst Financial Survivalism explains that he expects for BTC to break past $8,040, fall back to $7,700, and then return back to the mid to high-$8,000s.

This isn’t the only bullish sign that the analyst observed. In a subsequent tweet, Survivalism explained that if the nine four-hour exponential moving average crosses above the 50, Bitcoin will be “fully bullish” on the four-hour chart, implying “another leg up in the market.”This has yet to happen, but if BTC keeps the upward pressure, it will likely happen within the coming day.

Survivalism isn’t the only one that is short-term bullish. In a recent tweet outlining an astute observation, analyst Filb Filb noted that movements in Tether’s market capitalization have accurately predicted moves in BTC. With the number of Tether rapidly rising, recently surmounting a jaw-dropping $3 billion, Filb seems to be predicting that Bitcoin will soon shoot higher. While Tether was found not to directly be manipulating markets, more USDT in circulation is supposed to mean more money flowing into this space.

Pullback Still on the Table

Krogsgard was sure to leave skepticism on the table, however. Despite the fact that he expects for Bitcoin to likely revisit $9,100 and potentially move even higher, he reminds listeners to Pirus’ podcast that he “I wouldn’t say $8,000 bitcoin is a particularly attractive place to buy.” He adds that the cryptocurrency market has evidently moved fast this year, meaning a that an eventual correction to lower levels, like the $6,000s, is more than likely. Put best,

Even in bull markets, corrections of 30-40% are normal, so I’m waiting for when that occurs. It could be now, with an outside chance of another high, maybe into that $9,600 range first.”

When that comes, though, no one is all too sure.

Original article written by Nick Chong and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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Bitcoin ATM Spotted Spitting Out Money in London

Bitcoin ATM Spotted Spitting Out Money in London

A few days ago Londoners witnessed a bizarre movie-worthy scene: A Bitcoin ATM suddenly started spitting bills non-stop in a shopping center.

Several people were able to record the odd event and share it on Reddit. On the footage, a security guard protects the machine from the curious people who saw the scene. None of them (at least as far as one can see in the video) tried to take a bill.

 


From Bitcoin

The cashier was spitting out money for several minutes, which is why several people speculated that it was not a malfunction but rather a hack. The methodology, known as “jackpotting” basically allows the hacker to operate the ATM remotely making it spit out money on command.

If true, the perpetrator could be facing criminal charges.

Bitcoin ATM Operator: “It Was Not a Hack”

Shitcoins Club, a polish company that owns more than 60 Crypto ATMs distributed all over Europe, managed the Bitcoin ATM.

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In statements to The Next Web, Shitcoins Club denied that it was a hack and commented that from their point of view everything was a trick to give the illusion that the ATM went crazy:

“Everything was going well during this transaction … As you can see there is a bag in front of the ATM.”

In fact, in a Reddit post, a spokesperson said that anyone can see the location and funds availability of each of their ATMs, so it was easy to withdraw such a large amount of money (as long as the necessary funds were available).

“Our ATMs are the only ones in UK which can handle large cash withdrawals. On our website shitcoins.club on the “locations” tab, you can find out exactly how much GBP ready to withdraw holds each of our ATMs. The ATM at Bond Street Station (West One Shopping Centre), has at the moment 30,000 pounds which can be withdrawn immediately, in exchange for BTC, LTC or DASH. Our ATMs are usually topped up to 20 000 pounds.”

So everyone is free to draw their own conclusions. Maybe it was all the work of a skillful hacker who somehow wanted to generate a negative image of Bitcoin ATMs or maybe it was all the work of a troll who wanted to make a joke by daring to lose his money at the hands of a crowd that one can never know for sure how will react before the opportunity to have free money.

Either way, the crypto-verse is one weird place to be sometimes.

Original article written by Jose Antonio Lanz and posted on EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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Facebook Crypto on the Horizon: Firm Has 100 Blockchain Staffers Now

Facebook Crypto on the Horizon: Firm Has 100 Blockchain Staffers Now

Facebook Crypto is (Almost) Ready to Launch

After months of rumors, it seems that Facebook’s crypto is finally right on the horizon. Reported by TechCrunch today, a source claims that the technology company is looking to release the white paper for what is known as “Globalcoin” on June 18th, a mere two weeks away. This has seemingly been confirmed by a Facebook executive, who discussed the June 18th date previously. What’s more, The Information, a publication known to have very good sources within the cryptocurrency and blockchain industry, recently revealed that Facebook will be making a big announcement about its ambitions in the digital asset space this month.

As Globalcoin nears launch, Facebook has purportedly begun to bolster its staffers in the cryptocurrency space. The firm, according to LinkedIn data, has a jaw-dropping 100 people working in the Facebook Blockchain division, and is looking for forty more talents to fill in some gaps. A listing reads:

Our ultimate goal is to help billions of people with access to things they don’t have now — that could be things like healthcare, equitable financial services, or new ways to save or share information.

For those who missed the memo, Globalcoin is slated to be a stablecoin based on a basket of currencies and assets, which will purportedly be used to give billions across the world a way to transact value at low cost, without border, and without the difficulties with traditional banking. Facebook is purportedly seeking funding from Visa, Mastercard, and other mainstream firms, and has even been in discussion with crypto exchanges Gemini and Coinbase.

A Net Benefit For Bitcoin?

This all begs the question — will Globalcoin help the adoption of decentralized crypto assets, namely Bitcoin?

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Per Mike Novogratz of Galaxy Digital, it might do just that. The former Wall Street hotshot, now a well-known cryptocurrency investor, told CNBC last week that “Facebook is wildly important for the ecosystem”, adding that this tacit endorsement of the technology behind Bitcoin is resounding. He even states that contrary to popular belief, Globalcoin will add value to the non-centralized cryptocurrency ecosystem, not subtract.

Novogratz isn’t the only industry executive to have thought so.

In a Twitter thread published in Q1 2019, Ari Paul, the founder of BlockTower Capital, noted that while the so-called “coporatecoins” will operate in an intranet-esque fashion, they will help the more Internet-like Bitcoin. The investor explained that Globalcoin and its ilk are inherently “uninteresting” to Bitcoin’s crusaders, who are enamored with censorship resistance, immutability, security, and peer-to-peer systems. Yet, he adds that centralized cryptocurrencies will “increase global interest dramatically.”

And, Anthony Pompliano of Morgan Creek Digital in late-2018 postulated that “Anything Facebook launches will quickly become the most popular product in the industry….maybe even one of the most popular products in the world.”

Original article written by Nick Chong and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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Report: Bitcoin BTC Futures Trading Approaching All-Time High in May

Report: Bitcoin (BTC) Futures Trading Approaching All-Time High in May

According to a new report published by The Block, the month of May is on pace to set a new all-time high in Bitcoin futures trading for the CME Group.

In a note sent to clients on May 21, the Chicago-based firm and backer to one of the largest Bitcoin futures trading exchanges, claims that May is “shaping up to be the strongest month ever for CME Bitcoin Futures.” The firm also reports a record day of trading on May 13, with 33,677 contracts being traded for the equivalent of $1.3 billion in BTC. Daily volume for Bitcoin future trading has also spiked during the month of May to 14000, up from 9900 in April.

CME Group continued,

“Since launch in December 2017 we have traded over 1.6MM contracts (+8MM equivalent bitcoin) representing over $50BN in notional value ($4.2BN per month).”

Beyond daily volume for futures trading, new account creation is also on the rise for the group. CME reports that the number of accounts for Bitcoin futures trading has climbed to an all-time high 2500, which the group interprets as a booming desire for traders to hedge on the risk of BTC,

“The number of unique accounts continues to grow showing that the marketplace is increasingly using BTC futures to hedge bitcoin risk and/or access exposure.”

Despite the seemingly bullish market for Bitcoin and cryptocurrency, with the price of BTC up close to 100 percent since the start of April, traders remain divided over the future valuation for the coin. BTC Futures, such as those offered by the CME Group’s exchange, have become a popular alternative for traders looking to speculate on the market movement for Bitcoin. Futures contracts have long been one of the more dominant products for the traditional financial markets.

Users can open long or short positions on BTC futures, depending upon where they see the price of the currency moving. With Bitcoin hovering near the $8000 mark for its second day in a row, both the bears and bulls are holding their breath over the next price movement for BTC. Some analysts are now calling for the currency to fall back to $6K before making another run at the all-time high. Considering the massive gains and bullish rally Bitcoin went on since the start of April, after more than 12 months of declining price and ‘crypto winter,’ some investors are anticipating a correction.

However, others see Bitcoin entering a perfect storm of market conditions for renewed investment. Given the economic uncertainty being generated over deteriorating negotiations between President Trump and President Xi, a looming U.S.-China trade war has bullish indicators for the price of cryptocurrency.

In addition, the mounting adoption of cryptocurrency by major industry players such social media giant Facebook and investment bank JP Morgan Chase have given a vote of confidence for BTC that was not present during 2017’s bull run. While FOMO will continue to drive the price of crypto, in both directions, the growing futures market provides another avenue for would-be speculators.

Original article written by Michael Lavere and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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Buying Bitcoin BTC Is Investing and Saving for Retirement

Buying Bitcoin (BTC) Is Investing and Saving for Retirement

When talking about retirement investments, people usually focus on stocks. However, Bitcoin is proving to be a better retirement investment asset, even ahead of stocks, commodities, and other traditional investment vehicles.

BTC Perception Is Improving

Bitcoin’s popularity continues to grow all over the globe, despite the current bear cycle still keeping prices down. A research carried out by Blockchain Capital Blog earlier last month shows that Bitcoin awareness, familiarity, perception, and conviction have increased over the past two years.

According to the research results, the percentage of people that have heard of Bitcoin rose from 77 percent in October 2017 to 89 percent in April 2019. Also, the percentage of people that are familiar with Bitcoin is up from 30 percent in October 2017 to 43 percent in April 2019.

Then again, and this is not surprising, the perception of Bitcoin amongst ordinary citizens is changing for the better. In 2017, 34 percent of the people surveyed believed that Bitcoin is an innovative technology. That figure is now up, increasing to 43 percent in 2019. However, what’s interesting is that more people are convinced that Bitcoin will find more utility in the next decade.

The survey further reveals that more people are open to purchasing Bitcoin now than they were in 2017, with the percentage rising from 19 percent in October 2017 to 27 percent in April 2019. The fact that the younger generation finds Bitcoin more appealing shows that the world’s most valuable asset has the potential to become an investment tool for decades to come.

Bitcoin Is Excellent As a Retirement Investment Tool

Therefore, it is not odd that as the popularity of Bitcoin increases, analysts are convinced that the coin—with superior ROI can, after all be an alternative asset for retirement investment. As a matter of fact, Jason A. Williams, the co-founder, and partner at Morgan Creek Digital, revealed that more people are saving Bitcoin for their retirement.

In a tweet he says:

“1 BTC is $7,000 today, but less than 1 in 3 Americans has more than $5,000 saved for retirement. Always pay yourself first. Buy Bitcoin!”

This statistics is an impressive considering the current state of Bitcoin and the regulatory challenges the community continues to face. Williams further added that “the numbers tell the story. They always do. Bitcoin tells its story in numbers and math. Trust in numbers.”

The cryptocurrency expert is right in his comments. When comparing the growth of Bitcoin against traditional investment vehicles over the past decade, it is clear to see why the younger generation is turning to BTC at this time.

Over the past fifteen years, the NASDAQ top-100 has given a total return of over 500 percent while the S&P 500 has given 254 percent. In the same period, commodities dropped by 34 percent. On the flip side, Bitcoin rallied 1,950 percent. This year alone, Bitcoin gains exceed 100 percent. All this is after last year’s crypto winter that saw the asset tumble 75 percent allowing for attacks. But even so, Bitcoin did outperform almost all traditional assets like Gold adding 58 percent year on year outperforming S&P and other traditional indices. It is because of that that Bitcoin could be a great retirement investment option.

Original article written by Jose Antonio Lanz and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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