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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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The Wait Is Over Bitcoin BTC Is Now Mainstream

The Wait Is Over, Bitcoin (BTC) Is Now Mainstream

In 1918 Nicholas Klein addressed the Amalgamated Clothing Workers of America in Baltimore with a quote that best describes Bitcoin’s current journey to mainstream adoption. He said,

“And, my friends, in this story you have a history of this entire movement. First, they ignore you. Then they ridicule you. And then they attack you and want to burn you. And then they build monuments to you.”

No one is building monuments to Bitcoin yet, because those who initiate such projects are busy attacking and looking for ways to ban and burn Bitcoin.

Congressman Bradley Sherman, for instance, has proposed a bill that seeks to outlaw crypto trading in the U.S. He called on Congress to “nip this in the bud,” which apparently, is not the first opposing stance the congressman has taken against digital currencies.

Sherman reasoned that “… an awful lot of our global power comes from the fact that the Dollar is the standard unit of international finance and transactions. Clearing through the New York Fed is critical for major oil transactions.”

Well, Bitcoin Will Nip Global Economy Manipulation in The Bud

Sherman goes on to add that “… it is the announced purpose of the supporters of cryptocurrency to take that power away from us, to put us in a position where the most significant sanctions we have on Iran, for example, would become irrelevant.”

In those few words, Mr. Sherman illustrates to the Congress why Bitcoin has such utility and actual value and why its mass adoption has become unstoppable. The manipulation of global politics via the Dollar is something crypto is going to make a thing of the past.

Elsewhere the Winklevoss twins’ Gemini and Flexa a startup focused on payments are in a partnership that could open wide the doors of crypto use in mainstream commerce. Flexa’s crypto app Spedn has been integrated into the payment scanners of big-name retailers such as Barrel, Crate, Whole Foods and Nordstrom.

In a statement, Flexa CEO Tyler Spalding said:

“This is the first real instance of decentralized global retail payments, with the power to make commerce more efficient and accessible for billions of citizens globally. The legacy payment systems are complicated and costly. This solution provides a way for cryptocurrencies to solve these problems and allow merchants to conduct inexpensive and fraud-resistant transactions.”

This will help crypto owners to pay for goods using Bitcoin, Ethereum, Bitcoin Cash or Gemini Dollar. The real-time payment interface will pay merchants in fiat or crypto as per their choice. Thanks to Flexa’s ecosystem, merchants will no longer have to worry about real-time transaction clearances that once hampered crypto purchases.

Legacy Financial Institutions Massive Moves for Bitcoin

Bitcoin prices are still on the rise, with their value now at 8,106. As more institutional investors set their sights on Bitcoin, the bull run of the season might be on. Massive Wall Street Wheeler-dealer Intercontinental Exchange application to the U.S. Commodity Futures Trading Commission (CFTC) for their Bitcoin Futures approval looks imminent as “User acceptance testing for Bitcoin futures custody and trading planned for July.”

Bakkt’s operations have been hampered by a multitude of regulatory hurdles, but the firm has its eyes now set on July as its launch date. Giant financial services firm Fidelity Investment’s crypto trading platform is also in the pipeline. The platform is expected to be rolled out “within a few weeks” sources say. Fidelity’s platform is eyeing institutional investors interested in Bitcoin investments.

Original article written by Dalmas Ngetich and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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So Much for 6000 Resistance Bitcoin BTC Price Dominance Reaches Sixteen Month High

So Much for $6000 Resistance, Bitcoin (BTC) Price Dominance Reaches Sixteen Month High

After a week of bullish price movement, U.S.-based investors awoke May 11 to the sight of Bitcoin up 8 percent, approaching a relative high of $7000.

Despite April’s bullish turn in the crypto markets, analysts were calling for substantial resistance in BTC surmounting $6000. In November 2018 the price of Bitcoin plummeted from the market uncertainty of the BCH contentious hard fork and general investor fatigue. Retail investors fled the crypto markets in droves, cashing out at a loss. The remaining investors were thought to pose tough resistance for Bitcoin eclipsing $6000, marking the point where traders could recoup on losses incurred in the sudden plummet.

Instead, the price of Bitcoin has smashed the $6K mark and continued steadily towards $7000. Some analysts are calling for even greater price gains ahead, with the bullish sentiment and overwhelming effect of FOMO at a near-high not seen since 2017’s epic price rally. Others are pointing to the coin in danger of being overbought, after more than doubling in price since the start of the year and generating a near-continuous upward climb since the beginning of April.

Facebook, for what it’s worth, has played a role in the renewed interest in the crypto markets. While Bitcoin had likely reached a point of being oversold, falling close to 90 percent from it’s all-time high, the social media goliath has injected confidence and renewed interest in the industry. Prior to 2019’s string of adoption for cryptocurrency, which includes Wall Street bank J.P. Morgan Chase, retail giant Rakuten and Facebook, the industry was in danger of suffering from the backlash of 2018’s ‘crypto winter.’ Developers and crypto enthusiasts may have remained bullish on the outlook for the technology, but outside investors remain wary.

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Facebook’s show of confidence in digital currencies has brought the interest of both institutional and retail investors, giving crypto a base that extends beyond 2017’s constant news headline of Bitcoin as an empty “get rich quick scheme.” Investors are finding more reason to be bullish on the long-term prospect of cryptocurrency, as opposed to cashing out at the first sign of market downturn. The Facebook Coin may eventually come to compete with BTC, as some analysts have predicted, but the more likely situation is synergistic for the price of Bitcoin due to increased exposure.

Compared to the price rally of 2017, this year’s bullish turn for cryptocurrency could receive a substantial boost from the foundation of adoption that has been slowly built over the last sixteenth months. Investors are responding to the belief that Bitcoin will continue to lead cryptocurrency, with the number one coin by market capitalization also achieving an increase in market dominance. BTC’s >58 percent market dominance is at its highest point in sixteenth months, dating back to the last bull rally of December 2017.

Altcoins might be making a general resurgence on the day, but investors are clearly putting their confidence in BTC as the coin that will continue to lead throughout the rest of the year.

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

Article posted on Markethive by Jeffrey Sloe

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Wealthy Individuals and Institutions Will Likely Fuel The Next Crypto Bull Run

Wealthy Individuals and Institutions Will Likely Fuel The Next Crypto Bull Run

Many embattled crypto investors who have watched a significant amount of value disappear from their crypto investments over the past year are increasingly keen on discovering what factors may help lead the crypto markets back up to their previously established all-time-highs.

One major group that investors are closely watching are institutional investors, including pensions, endowments, and family offices, but another group that should be closely watched are high-net-worth individuals, who are increasingly growing interested in the nascent markets.

Survey: Wealthy Individuals Are Looking to Increase Exposure to Crypto in Coming Years

A recently conducted survey by deVere Group, an independent global financial consultancy organization, yields some data that could be deemed as being bullish by investors, as it signals that a significant amount of high-net-worth individuals may soon foray into the crypto markets.

The survey, which gathered data from over 700 respondents in major countries across the globe, found that 68% of participants are either already invested in the crypto markets, or will make investments in either Bitcoin, Ethereum, or XRP, before the end of 2022.

Nigel Green, the founder and CEO of the deVere Group, spoke about the results of this survey, bullishly noting that the growing universal adoption of cryptocurrencies is leading high-net-worth investors to have a sense of FOMO (fear of missing out).

“There is growing, universal acceptance that cryptocurrencies are the future of money – and the future is now. High net worth individuals are not prepared to miss out on this and are rebalancing their investment portfolios towards these digital assets,” Green explained, further adding that “Crypto is to money what Amazon was to retail.”

Institutions Are Also Warming Up to the Nascent Cryptocurrency Markets

Another recently conducted survey that focused on institutional investment groups also produced some data that is positive for embattled crypto investors.

This survey, which was conducted by Fidelity Investments in an effort to procure comprehensive data that can help guide their burgeoning digital assets venture – dubbed Fidelity Digital Assets – found that roughly half of institutional investors do consider crypto worthy of being added to their portfolios.

“Almost half of the institutional investors surveyed (47%) view digital assets as having a place in their investment portfolios, but opinions vary on how these investors would prefer to hold digital assets in the future,” Fidelity explained, adding that 76% of respondents deemed security as their top priority when considering custodial solutions.

When taking into consideration the fact that both institutions and wealthy investors are growing increasingly comfortable with investing in cryptocurrencies, there does appear to be a strengthening case for an imminent bull run, with a surge in fresh capital fanning the flames that may ultimately send the markets into a parabolic ascent.

Original article written by Cole Petersen and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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It Will Take Bitcoin BTC Less than 25 Years to Establish Itself as Premier Money

It Will Take Bitcoin (BTC) Less than 25 Years to Establish Itself as Premier Money

It is estimated that Gold might have been in use as an acceptable medium of exchange in Africa circa 1500 B.C. The use of Gold as a store value in international trade is both prolific and winded, culminating in the establishment of the Gold standard in 1945. It has therefore taken thousands of years for humanity to accept Gold as premier money. Now, Bitcoin enthusiasts believe it will take less than a quarter of a century for Bitcoin to achieve the same feat.

Critics

Strategic Intelligence’s Jim Rickards, though, begs to differ. Jim, author of Currency Wars: The Making of the Next Global Crisis is a Bitcoin bear. While a Gold ounce today changes hand at around $1,286, Jim believes that Gold has the $10,000 an ounce potential. He nonetheless says take a swipe at Bitcoin saying it is a Bubble:

“It’s clearly a bubble — it looks like the second biggest bubble in history after tulip mania. Although at the rate it’s going it will pass tulip mania, you know, in a matter of days….name your bubble, it’s bigger than all of them.”

Jim is not in denial but is opposed to its price action. He blames the asset’s fantastic price, even after last year’s drop on, fraudulent trade activities. Similarly, like most skeptics he believes that BTC traders are “painting the tape“; trading BTC back and forth in a ramp to increase its price through manipulative activities like wash trading. He goes on saying that Bitcoin could survive a financial crisis thanks to its supposed ill-gotten value.

Why Bitcoin Will be Premier Money in 25 Years

Even so, most Bitcoin believers associate Bitcoin’s prized value to the coin’s fantastic programming. They love what the token stands for, though those two reasons really cannot dictate BTC’s worth. However, if you combine its marvel architecture, its utility and scarcity values, the pioneer digital asset is straight up, new age Gold.

Economics says that value is a product of utility and scarcity. Bitcoin has a 21 million coin cap meaning that unlike Gold, there’s not going to be a Gold rush, albeit a digital one. There are similarly no hidden treasure troves of BTC awaiting discovery that could cause an influx and crash in price.

Tom Lee, Fundstrat Global Advisors head of research opines that “There are potentially millions of times more Gold underground than actually has been extracted.”Gold is actually becoming easier to mine, thank to technological advances.

Then again, Bitcoin is increasingly becoming market accepted, and supply-demand dynamics is therefore dictating its price. Supports further believe that its pillars of decentralization, security, immutability, divisibility, and its open-source nature. When Satoshi stepped away from it, he allowed the masses to own it. While BTC’s value is not intrinsic, neither is paper money’s or Gold’s. The value currencies have is given to them by their users.

As more businesses like Amazon, Netflix, Facebook or Google rake in billions from digital trust, it, therefore, should be natural that currencies too could evolve and go digital as well. Cryptocurrencies, consequently, could entirely replace Gold.

Bitcoin’s inherent advantages make it most poised to replace Gold in its entirety. Are 25 years too short a time for this change to take place? Maybe not, it’s only taken ten years for crypto to make the vast waves it is making in the financial world.

Original article written by Dalmas Ngetich and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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Bitcoin Grinds Higher Will The Golden Cross Send BTC to 6k?

Bitcoin Grinds Higher, Will The Golden Cross Send BTC to $6k?

For the past seven days Bitcoin has been slowly grinding higher and recording higher lows. The trend has clearly been ascending and current bullish price formations, plus the imminent ‘golden cross’, indicate higher moves could be on the cards.

At the time of writing BTC was trading at $5,425 according to Tradingview.com. It equaled the 2019 high of $5,450 a few hours ago and all signals are screaming ‘buy’ on the trading chart website. Market dominance for Bitcoin has also reached a two month high as it rules over the altcoins. All eyes are on the magical ‘golden cross’ which should occur today or tomorrow according to this chart.

When the 50 day moving average crosses the 200 day it is seen as a clear signal of trend reversal. There are three stages to this pattern which is the opposite of the ‘death cross’. Firstly the downtrend must bottom out indicating that selling has been depleted. In the second stage, where we are right now, the shorter moving average forms a crossover up through the larger moving average to trigger a breakout and confirmation of trend reversal. The third stage is continuation of the uptrend and higher prices.

Bitcoin resistance is currently at $5,400 with a second level at just below $5,600 where the 50 week moving average lies. Once these two are broken there is nothing stopping BTC barreling up and past $6,000. The golden cross could well be the catalyst to spark this move.

Crypto analysts are confirming this action with other signals such as a bullish pennant;

Others have looked into the volume of short positions which are very close to being liquidated should Bitcoin push any higher. This would also be bullish and, coupled with a good dose of fomo, could send BTC back to $6,000 very quickly.

Trader and technical analyst ‘Filb’ noted;

“Bitcoin continues to grind up, without sign of there being any leveraged positions being taken up which implies to me that there is aggressive spot buying in this market, which those shorting it cannot stop. This leads us to a scenario where there will be short positions heavily exposed – around 6k shorts are underwater and at risk of being liquidated.”

With others such as ‘Moon Overlord’ adding to the sentiment;

It may not all be plain sailing though as the 50 week moving average may also come into play as it did during the 2015 bear market. Some analysts foresee a bounce off this and back down to the 200 week ma which sits around $3,550.

Either way something big is about to happen with Bitcoin so buckle up and enjoy the ride!

Original article written by Luke Thompson and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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BTC Could Hit 98 Million Yes 98M USD in 10-20 Years Analyst Says

BTC Could Hit $98 Million (Yes… 98M USD) in 10-20 Years, Analyst Says

The crypto market has remained bullish on the last weeks, prompting a recent wave of optimism and euphoria among traders, analysts and enthusiasts in general. The 5k zone has supported the BTC, allowing the token to remain stable, reversing some indicators.

Having successfully held above 5k, analysts believe that the strength of the bearish market is losing influence and, with the halving on the horizon, many think that the cryptomarket is starting the next bull run.

Unlike the sentiment of 2017, most analysts today speak of conservative numbers. High forecasts such as Tim Draper’s or John McAfee’s are seen as exaggerated or unbelievable. Recently, however, an analyst did not hold back his mood by publishing a hyper-bullish prediction for the next few decades.

In a thread of 27 tweets, Twitter account Moon Capital explained that in approximately 10 to 20 years, BTC would become the first currency to reach a value of about 98 million dollars per unit.

BTC Could Substitute Fiat.. And Gold

The unusual prediction explains that to achieve this figure, the BTC had to maintain its traditional cyclical behavior but with the technological and financial developments typical of this industry.

This combination of circumstances could trigger the perfect scenario for BTC to become the world’s currency, replacing the global money supply. If this happens, the capitalization already increases by about 90.4 trillion dollars.

Also, investors could stop buying gold in the face of the possibility of using the BTC as a safer means. If the Bitcoin market takes 90% of the total capitalization of gold, it would account for about 6.9 trillion dollars.

This streak would give the BTC the necessary level of influence to allocate the capitalization of other financial markets such as bonds, stocks, equities, real estate and even public investments close to 5% of GDP.

Under this hyperoptimistic scenario, the BTC would gain around 294 trillion dollars in capitalization, becoming the “new global unit of account.” This price would total about 98 million dollars for each available token.

So far, it is still very early, and it is indeed impossible to predict the future, especially when it is such an optimistic scenario. Most banks are developing financial solutions based on blockchain technologies, precisely to compete against BTC, not to adopt this token.

To read the full analysis without having to sort through each tweet, here is a post containing all the Tweets. This is possible thanks to Thread Reader App

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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Japan’s Largest Bank Will Issue a Proprietary Cryptocurrency This Year

Japan’s Largest Bank Will Issue a Proprietary Cryptocurrency This Year

Cryptocurrencies are here to stay. Their advantages over traditional remittances are so extensive that more and more financial institutions are accepting reality, using these technologies to evolve and adapt their products to the needs of modern society.

The most important announcement in this area happened this week when Mitsubishi UFJ said it would launch its own cryptocurrency at the end of this year.

For the Western population, this may not represent much of a hype, but just to put things in perspective, MUFJ is the fifth largest bank in the world by total assets and the most influential private bank if the Chinese institutions are excluded. Its total capitalization is approximately 2.78 trillion dollars, 300% more than the total assets of Goldman Sachs, and 169 billion more than JPMorgan Chase.

According to the Japan Times, Kanetsugu Mike, president of the bank, commented that this initiative is part of a policy of technological improvement aimed at increasing confidence, security, and efficiency in the organization:

“We aim to build an organization that is relied on and trusted globally, and represents innovation,”

After an internal test conducted in September 2018, the positive results allowed the Mitsubishi UFJ team to feel confident enough to move on to a massive implementation stage.

The use of a cryptocurrency allowed instant transfers to be carried out at almost no cost, something essential for a bank with such a high volume of transactions.

Blockchain is Slowly Becoming More Attractive to Banks

Mitsubishi UFJ is not the first bank determined to use blockchain technology. Already the IMF and the BIS have issued official pronouncements assessing the risks and benefits of issuing CBDCs.

Also, JPMorgan recently announced the development of its own token to facilitate transactions processed by its infrastructure. The development of this tech is as important as the MUFJ initiative since this bank is the sixth most important in the world, and the most influential for the “western world.”

The Bank has a strong relationship with cryptocurrencies and blockchain technology. It already uses Ripple technology to process transactions and the partnership seems to be yielding positive results.

Apparently, the cryptocurrency would simply be called “coin.” The bank did not share more details about its development.

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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How Blockchain Will Transform the Hiring Process

How Blockchain Will Transform the Hiring Process.

By Chris Porteous

Blockchain has the potential to make data even more meaningful to HR professionals.

Most people have heard of the blockchain, although according to Forbes, the No.1 misconception with blockchain is that it’s the same as bitcoin. Being aware of the differences between the two is essential in understanding how blockchain can revolutionize the hiring process. Furthermore, if blockchain is adapted to work with current HR systems, it could mean a shift in the paradigm of massive proportions. We’re not looking only at the process here, but the data that facilitates that process. Blockchain has the potential to make that data even more meaningful to HR professionals as well as offer new insight into their potential hires than existing systems could.

The blockchain as a concept

So if bitcoin and blockchain aren’t interchangeable terms, then what is what? CNN Money defines bitcoin as a cryptocurrency that was initially created in 2009, as a means of storing value and transferring funds as a digital medium that is not controlled by any financial institution. Blockchain is the technology that made the existence of bitcoin possible, but there are so many more applications for it than merely a store of value in digital coins. Investopedia informs us that a blockchain is a distributed ledger, where all people who use the register have access to the contents of it, and those contents are declared through consensus of the network that the ledger is held on. In simple terms, a blockchain is a series of records, and everyone who has an interest in that blockchain has access to the entire blockchain. For us to determine the contents of that blockchain, we consult each member of the chain that holds a copy and the version of the blockchain that is in the majority wins out.

Blockchain and security

There’s something that makes the blockchain ideal for a situation where a company needs to take a potential employee’s word based on trust. Security within a blockchain is directly proportional to the number of users on that blockchain. This means that as more companies adopt the blockchain, the more secure the record kept on that blockchain will be.

An excellent example of this from an HR perspective is the submission of resumes using a site like TrustED. These documents are almost wholly taken on trust, except for references which the application usually gives to the employer. As these sites have shown, in the case of a blockchain, there would be no need for a resume since jobs that the applicant has done can be tracked and linked to the applicant’s account immediately. Additionally, previous employers could be reached directly to discuss the employee. And all of this data would be secured as more companies join the network. It would be a more reliable, but much more secure version of headhunting on LinkedIn.

Automated taxation

Blockchain was designed to be a method of securing data, but the evolution of the system has led to the development of a feature known as smart contracts. By setting a blockchain up that handles transactions automatically using these smart contracts, payment of salaries would be simple and wouldn’t involve any third-party. Additionally, a smart contract could be tied to the salary of each employee to ensure that each salary is removed before payment is made.

As Pricewaterhouse Coopers notes, many people in the system today wonder if the taxation system at present is capable of dealing with the evolved form of employment as exists today. This automated taxation system could be beneficial to both HR managers (who no longer have to calculate and pay taxation) as well as employees (who don’t have to worry about filing tax returns as all the information already exists on the blockchain).

Routine tasks and simplification

Payroll generation is another holdover from a bygone era, where the movement of money was linked to the flow of paper. Having a blockchain makes the need for keeping this paper-based system alive non-existent. Because blockchain can automatically log payments and instantaneously transfer funds, the need for updating a paper sheet with payment details and deductions (both of which could occur automatically as mentioned before) seems an added complication. Properly coded smart contracts would automatically execute these payments as they need to be done and inform both parties of the success of those payments. If there is a breach of that contract, all the data is readily available on the blockchain to allow for speedy litigation if necessary.

A disruptive technology

While Bitcoin might have had its way in the sun and is now moving like a rock rolling downhill, it did manage to show one thing?—?the usefulness and possibilities of a blockchain. Intelligent developers have already cottoned on the potential of these blockchains, and quite a few companies have become involved in research and development of the technology. Hackernoon even has a list of the banks that have started utilizing blockchain in their business, showing how disruptive this technology has been. The blockchain provides a better way of doing things than we have been invested in up to now. The smart thing would be to explore how it can change your business while everyone else is still in the dark about it.

Original article written by Chris Porteous and posted on the medium.com site.

Article posted on Markethive by Jeffrey Sloe

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Bitcoin BTC Could Skyrocket To 84k In The Coming Weeks Analyst Suggests

Bitcoin (BTC) Could Skyrocket To $8.4k In The Coming Weeks, Analyst Suggests

Last week was absolutely monumental for the cryptocurrency market. As this outlet covered extensively, Bitcoin rapidly surmounted key resistance levels on the back of a record-setting influx of buying pressure, with BTC finding itself above $5,000 for the first time since November.

As the crypto asset has stabilized since then, discovering a consolidation range at and around $5,100, analysts have done their best to gauge what comes next for BTC. And according to prominent trader Crypto Thies, a move drastically higher could very well be in store for the leading digital asset.

Thies recently took to Twitter to lay out his reasoning for this call. He explains that as it stands, Bitcoin could find support at $4,300, where it initially broke out, and $4,700, where the asset’s 200-day moving average currently sits. On the other hand, BTC will have trouble breaking past $5,500, $5,700 (the de-facto floor late last year), $6,600, and $8,400 (a top in a mid-2018 bear market rally), as these levels will act as resistances.

But, the trader makes it clear that in the coming weeks, BTC could start to test those resistances in an act of breaking out.

Thies writes that while he is confident that BTC will eventually return to $4,700, he expects for a Bitcoin to head higher in the coming weeks. He looks to the fact that the Bollinger Bands (BB), a measure used to depict trading ranges, have begun to squeeze on the one-week chart, along with BTC’s two-week candle breaking above its middle BB could suggest a move to the high BB, currently sitting at $8,400, in the near future.

Thies’ pseudo-price prediction comes in lower than some, but higher than most, interestingly enough.

Brian Kelly, for example, recently took to CNBC to claim that this ongoing move is likely to bring Bitcoin to $6,000 at the max. Per previous reports, Kelly claims that “high net-worth individuals, family offices, are starting to take a serious interest” in Bitcoin, all as custody solutions have propped up, volumes have spiked, and short sellers looking to cover their rear ends — presenting a strong case for a 20% rally from here.

Filb Filb, too, has kept his bullishness constricted to $6,000 for now. The analyst recently drew attention to two charts which showed similarities both in the structure and timing of their respective moves, specifically in a bid to show that Bitcoin could see a massive wick to the upside. If the move plays out as Filb expects, BTC could rally to $6,000 in the coming weeks.

On the other hand, others have been way more bullish than the aforementioned two. Fundstrat’s in-house Bitcoin optimist, Tom Lee, recently told Bloomberg that he adamantly believes that the cryptocurrency market can now be classified as a bull market, looking to the 200-day moving average for BTC to back his point. He added that a fair value for the asset is currently $14,000.

Is Bitcoin In A Bull Market?

No matter where BTC heads in the short-term, Thies’ Market God indicator, a proprietary measure created to predict trends both in the short- and long-term, has signaled that a bull run could be on the horizon. As reported by Ethereum World News previously, the indicator, which somewhat called the 2018 top, recently issued a “buy” signal for the first time in over two years.

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

Article posted on Markethive by Jeffrey Sloe

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