My Favorite “Digital Gold” Play Costs Less Than $5

When Bitcoin was rising by $1,000 a day back in December, you didn’t have to look far to find pundits speculating on whether the crypto might “replace gold” as a “safe-haven investment.”

Of course, that was before the digital currency peaked above $20,000 and then dramatically plunged to under $7,000. That put paid to the “safe haven” talk.

By comparison, gold, that 5,000-year-old “un-crypto,” has risen a modest 7% over the past year. What’s more, 2016 and 2017 marked the first consecutive years of gold gains since 2011 to 2012. We’ve talked extensively about all the ways there are to cash in on the resurgent gold bull.

But today, I want to tell you about a high-tech game changer I’m watching – one that promises to bring gold into the digital age.

Why is this “disruptor” important?

Well, it’ll eliminate most of the old “hassles” – security, portability, storage – that have kept gold’s potential “vaulted” and bottled up for centuries.

This promises to make gold incredibly easy to use as cash, with no more difficulty than we encounter using banknotes or plastic today – easier and as secure as Bitcoin, in fact, with none of the volatility.

Now, this exposes physical gold to extreme upside potential – that’s a given. But what’s more, this disruptor will act like rocket fuel for the small company I’m going to show you. Read more

Early investor in Tesla, Skype and Hotmail has this prediction about Bitcoin

Not only does venture capitalist Tim Draper think bitcoin is here to stay, he says it could be bigger than the internet.

When asked during a debate how the digital currency compared to his early investments in Tesla, Hotmail and Skype, Draper said bitcoin will be “bigger than all of those combined.”

“This is bigger than the internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution,” Draper said at Intelligence Squared U.S. debate presented in partnership with Manhattan Institute’s Adam Smith Society on Saturday. “This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.”

Draper, founder of leading venture capital firms Draper Associates and DFJ, reiterated his bullish call for bitcoin to hit $250,000 within four years and elaborated on use cases.

“In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you’re not using crypto,” the early internet investor said. “I believe that there will be a point at which you will…

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Learn Why This Crypto Surged 20% in Less Than 24 Hours

Ripple (XRP) prices rallied lately, generating notable gains as the broader cryptocurrency market pushed higher.

The XRP token reached $0.8768 early this morning, according to CoinMarketCap.

At this price, the digital token was up more than 20% over the last 24 hours, and had climbed to its highest since early March, additional CoinMarketCap figures show.

XRP appreciated as several other digital currencies moved higher. At the time of report, every one of the top 10 cryptocurrencies by market value were up over the last 24 hours.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

When explaining what fueled the recent gains in the price of digital assets, analysts cited several factors…

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3 Must-Read Predictions for the Future of Bitcoin

Many predictions have been made regarding Bitcoin’s price which, after jumping from around $1,000 to $20,000 in 2017, decreased to lows of around $6,000 before climbing back to $8,000.

This huge volatility makes it very challenging to predict the price in the short-term. Nonetheless, a fundamental analysis of the evolution of Bitcoin’s price in the longer term could be more reliable. Several predictions are analyzed and discussed below to estimate the most likely direction of Bitcoin’s price in the medium to long-term.

Prediction 1: Institutional investors’ money will increase Bitcoin’s price

The CEO of American Express-backed startup Abra has predicted that big investors will make “all hell break loose” in a recent interview with Business Insider. He mentioned that there is currently little large-scale institutional money in cryptocurrencies and when this changes the impact on Bitcoin’s price will be very positive.

So, what is preventing this institutional money to flow into Bitcoin and cryptocurrency markets in general? The current technological limitations of Blockchain could be a key reason, especially those related to scaling. However, right now there are scientists and software developers building trailblazing innovations that could take Distributed Ledger Technology (DLT) to the next level, as pointed out by Don Tapscott, author of the book ‘Blockchain Revolution’.

Decentralization, scalability and security are the trilemma in DLT meaning that if you were to improve scalability then security would be compromised, and so on. However, this trilemma, which has been the limiting factor for the technology, is about to be overcome.

Sharding, interoperability and formal verification

Ethereum and Zilliqa are working on a process called “sharding” which could greatly improve their throughput and their number of transactions per second – matching or surpassing those of Visa or Mastercard.

Other projects are creating the ‘Internet of Blockchains’ by allowing interoperability among  Blockchains, both public and private. They would also offer shared security and instant finality meaning that it will not be necessary to wait for several confirmations to validate a transaction.

Furthermore, hacking attacks such as the one that affected the DAO and triggered the Ethereum hard fork could become a thing of the past once formal verification of smart contracts, such as the ones Tezos or Zen Protocol projects are using, will ensure that there are absolutely no errors in the code and therefore no way to attack it. Formal verification is already used in airplanes, medical equipment and nuclear reactors, all places where there is little scope for errors.

Xinshu Dong, CEO of Zilliqa, among the first Blockchain to use the technology of sharding with a public testnet launched on March 31, recognizes also the importance of formal verification of…

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Why We’re Seeing Bitcoin Price Predictions of $100,000 and Higher

Bitcoin price predictions of $100,000 or more have become increasingly common over the past year.

That may have seemed absurd a year ago, when the price of Bitcoin was just $1,200.

But now, a Bitcoin price of $100,000 is more than just a dream. In fact, an increasing number of experts are convinced it will happen.

Bitcoin

Saxo Bank global macro strategist Kay Van-Petersen thinks it could happen as early as the end of 2018 due to the inflow of institutional money.

“We’ll get a cascade of ETFs, mutual funds and other investment vehicles breaking out,” he told Bloomberg in December.

Van-Petersen is no stranger to bold Bitcoin predictions. In December 2016, when Bitcoin was trading at $750, he predicted it would rise to $2,000 within a year. The Bitcoin price hit $2,000 less than six months later.

Olga Feldmeier, CEO of the fintech firm Smart Valor, also has a $100,000 target BTC price, although there’s a slightly longer time frame.

Feldmeier suggested that a large institutional investor like George Soros was responsible for Bitcoin’s recent spike from under $7,000 to $8,000.

“I think this incident could become the ignition for the next bull phase,” Feldmeier told Express.co.uk. “Over the period of next 2 years I still predict we could see it reach a value of $100,000.”

But these Bitcoin forecasts are modest compared to what some other experts are saying…

These Bitcoin Price Predictions See Gains of More than 3,000%

Cameron Winklevoss, who, along with his twin brother Tyler, runs the Gemini cryptocurrency exchange, takes a much longer view – 10 to 20 years – but also has a much higher Bitcoin price forecast.

Speaking to CNBC in February, Winklevoss forecast an increase of 30 to 40 times the $7,500 Bitcoin price at the time. That would put Bitcoin prices as high as $300,000.

He compared Bitcoin to gold, calling the cryptocurrency a “very underappreciated asset” regardless of its volatility.

“Taking Bitcoin in isolation … we believe Bitcoin disrupts gold. We think it’s a better gold if you look at the properties of money. And what makes gold gold? Scarcity. Bitcoin is actually fixed in supply so it’s better than scarce … it’s more portable, its fungible, it’s more durable. It sort of equals a better gold across the board,” Winklevoss explained.

But Bitcoin could get into that price neighborhood even faster if venture capitalist Tim Draper, founder of the VC firm Draper Fisher Jurvetson, is right. Last week, Draper predicted Bitcoin would reach $250,000 by 2022. That’s a gain of more than 3,000% in just four years.

Draper famously forecast at the end of 2016 that Bitcoin would hit $10,000 in 2017. BTC went twice as high as that in December before pulling back.

“Believe it. It’s going to happen, they’re going to think you’re crazy. It’s gonna be awesome,” Draper said of his lofty target.

And it may not be as audacious as it sounds. You see, Bitcoin has numerous catalysts at work…

Why the Bitcoin Price Is Headed for Six Figures

Read more

Why is the World’s Largest Porn Site Now Accepting Cryptocurrency?

THE ADULT WEBSITE Pornhub has of late taken pride in being something of a pioneer. A year ago, it implemented HTTPS encryption, making it safer for users to click without being snooped on. Last fall, it introduced a suite of accessibility features for its blind and visually impaired users. And Tuesday, it began accepting Verge, a privacy-focused cryptocurrency

Pornhub is not by any stretch the first adult site to accept cryptocurrency. Dozens already do, as do mainstream companies like Microsoft, Overstock, and Expedia. But the significance of the move lies less in the marriage of cryptocurrency and pornography than it does in the legitimization of cryptocurrency as tender generally. After all, Pornhub’s not just the largest site of its kind. It’s one of the largest sites on the web, period.

On the Verge

Accepting Verge does have specific value to Pornhub users, of course. Not everyone wants their credit card statement to have mature content on it, even pseudonymously. And while Verge cryptocurrency isn’t an infallible cloak of invisibility, it does incorporate more anonymity tools than traditional tender.

“It’s an anonymous additional form of payment,” says Pornhub vice-president Corey Price. “Offering privacy-focused payment options is something we have been looking to do for a while.”

Pornhub’s move is also notable because it chose to use…

Continue reading at WIRED.com

Why Bitcoin prices could Skyrocket 200% this week

Bitcoin (BTC) prices have dropped 51.15% in Q1 2018, but one Bitcoin bull proclaimed the sell-off could be over. Thomas Lee, head of research at Fundstrat Global Advisors, believes that the price drop was thanks to tax season.

And Lee believes Bitcoin prices are going to rebound 206.64% from today’s price of $8,152.66 now that tax season has ended…

According to his April 5 report, U.S. households likely owe $25 billion in cryptocurrency capital gain taxes. To pay it off, Bitcoin holders have likely been selling off some of their coins since the start of 2018.

In addition, the crypto analyst believes exchanges have been unloading their cryptocurrency holdings.

“Many exchanges have net income in 2017 [of more than] $1 billion and keep working capital in [Bitcoin, Ethereum], not USD – hence, to meet these tax liabilities, are selling BTC/ETH,” Lee said in his research report.

The head of research at Fundstrat projects for each U.S. dollar of outflow, there is a $20 to $25 impact on the value of the cryptocurrency market.

With people either selling or just holding onto their coins, there’s been less demand, which has sent prices spiraling.

Stunning: New Innovation Will Be Like “Adding Twin Turbos to the Bitcoin Engine” – and Could Send Its Price to $100,000. Learn More

The cryptocurrency market was worth $813 billion on Jan. 7, but it now sits at $329 billion.

Taxes are due on April 17, so if Lee is right that part of the sell-off was caused by tax payments, prices could quickly rebound to previous all-time highs of $20,000 on Dec. 17, 2017.

Lee believes the price of Bitcoin will return to $20,000 by July 2018.

By the end of the year, he projects the price of Bitcoin will reach $25,000, which would be a gain of 206.64%.

However, that estimate may be too conservative…

The Shocking Reason Why We Think Bitcoin Could Hit $100,000 (and How You Could Make Millions)

Money Morning Defense and Tech Specialist – and cryptocurrency legend – Michael Robinson just revealed the little-known details regarding the future of Bitcoin… and why at any moment, it could be poised for a record-breaking rebound far beyond anything we’ve witnessed already.

Michael made a prediction about Bitcoin way back in 2013 – and folks who followed his advice stood to become 253 times richer.

We’d venture to say not one in 10,000 people is aware of the massive profit potential unfolding right now.

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Source: Money Morning

The Surprising Truth Behind Bitcoin’s Price Jump

Bitcoin is on a roll, with the price of one of the virtual coins up more than 17% against the dollar in just one day. On Friday morning it climbed back up above $8,000 for the first time in two weeks, with an $8,050 value at the time of writing.

Why? As ever, the causes of the cryptocurrency’s fortunes are less than clear, but some experts reckon it might have something to do with the approach of April 17, the deadline for filing taxes in the U.S. Others think it’s a function of geopolitical fears and sanctions.

The tax day theory goes like this: people needed to liquidate their bitcoin assets before the deadline in order to have enough dollars to pay their taxes; most have done this now, so goodbye sell-off.

This interpretation is supported by the fact that Bitcoin suddenly tanked at the start of this week, losing 6% of its value in just two hours and falling below $7,000.

“The selling pressure associated with tax day has subsided right now,” Ryan Taylor, the CEO of cryptocurrency software firm Dash Core told CNN. “As people get their tax returns, there may be new money entering the market.”

However, when Bitcoin suddenly shot up on Thursday, the online chatter was mostly about the…

Continue reading at FORTUNE.com

Bitcoin Prices SURGED Today – And Here’s Why

Markets Update: BTC Price Jumps Over $1000 in Less Than an Hour

The price of bitcoin and a wide range of other digital assets have seen some significant gains today. Earlier during the morning trading sessions (EDT) BTC/USD markets spiked over $1,000 in less than 60 minutes gaining 10 percent and reaching a high of $8,060 per coin. Following the phenomenal jump in value, buyers met some resistance and BTC’s value has dipped back some and is currently averaging a touch above $7,600.

Also read: Huobi’s Sentiment Index Shows Cryptocurrency Investors Still Bullish

BTC Markets See Gains of 10 Percent

Cryptocurrency markets are on a tear today as most digital assets jumped in value from 10-20 percent during the morning trading sessions on April 12. BTC trade volumes have spiked considerably worldwide as our last Markets Update six days ago reports a daily volume of $4Bn USD. That metric has doubled today as BTC trade volumes worldwide now rests at $8.1Bn over the past 24 hours. The top five exchanges swapping the most BTC today are Bitfinex, Okex, Binance, Upbit, and Huobi. Bitfinex has over $664Mn in 24-hour volume and USD trades have spiked significantly today. Last week the Japanese yen accounted for well over 60 percent of the BTC global trade volume but that metric has dropped to 45.4 percent. The USD is now up to 28.7 percent as the fiat currency has gained some steam this week. This is followed by tether (USDT 13.7%), the euro (4.3%), and the South Korean won (4.1%).

Markets Update: BTC Prices Jump Over $1000 in Less Than an Hour

Technical Indicators

Looking at the 30-minute and 4-hour price charts on the exchange Bitstamp shows bulls are currently trying to push past resistance right now at the $7,600 range. After a few weeks of the long-term Simple Moving Average (200 SMA) being well above the short-term 100 SMA, the two have crossed hairs again. At the time of writing, the 100 SMA is above the 200 SMA indicating the path to resistance should be on the upside.  

Markets Update: BTC Price Jumps Over $1000 in Less Than an Hour
At 12:30 PM EDT on Bitstamp the price of BTC is hovering just above $7,600.

After dipping southbound over the last two hours the MACd is showing an upward trend as buyers eat through current sell orders. However, the Relative Strength Index (RSI) and Stochastic oscillators are well above the 80 range showing BTC/USD markets are overbought. Order books on the upside show some resistance at the current vantage point ($7,600) and another pitstop at $8,150. On the backside, if this run-up turns out to be another fake out bull trap then there are strong foundations between $7,500 through $7,100.  

Markets Update: BTC Price Jumps Over $1000 in Less Than an Hour
BTC trade volumes have doubled since last week.

The Top Digital Assets

Overall cryptocurrency markets, in general, are up well over 10-20 percent and the top 100 digital currencies are all in the green. The second highest market valuation commanded by ethereum (ETH) is up 10.1 percent as one ETH is averaging $463 per coin. Ripple (XRP) has seen gains today around 12.1 percent and each XRP is $0.55 cents. The fourth highest market capitalization is held by bitcoin cash and its markets are up 8 percent. One BCH today is trading just above $700 per coin during the afternoon trading sessions. A newcomer has joined the top five cryptocurrency market valuations as EOS has pushed litecoin (LTC) out of the fifth position. EOS was up over 40 percent yesterday and is still up 22 percent at the time of publication.

Markets Update: BTC Price Jumps Over $1000 in Less Than an Hour

The Verdict: Uncertainty Remains After the Last Few Bull Traps Faked Everyone Out

Its safe to say a lot of cryptocurrency holders are pleased with the spikes in value this morning. Some traders not so much, as short contracts on Bitfinex and Bitmex had stacked up like a mountain over the past week and this morning most of them were liquidated. The jump in value still doesn’t show concrete evidence we will see a bullish reversal, but the increase does give some people a little hope. There have been bull traps and ‘dead cat bounces’ over the past few weeks so a quick and sudden rally is not surprising, but the question remains — How long will it last?

Where do you see the price of BTC and other digital assets heading from here? Do you think cryptocurrencies will see more gains? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Bitstamp, Trading View, and Coinmarketcap.


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The post Markets Update: BTC Price Jumps Over $1000 in Less Than an Hour appeared first on Bitcoin News.

Source: Bitcoinnews.com

What Caused 2017’s Bitcoin Boom? Could it happen again soon?

Bill Barhydt is the CEO of Abra, which is a “crypto bank” built on a system of Bitcoin and Litecoin smart contracts that allows users to hold pretty much any fiat currency as digital cash on their smartphones.

In a recent, wide-ranging interview with angel investor Jason Calacanis on This Week in Startups, Barhydt was asked for his opinion on 2017’s cryptoasset frenzy. In his response, the Abra CEO touched on the importance of government approval of bitcoin in Japan and the hysteria in the initial coin offering (ICO) market.

FOMO Rooted in Japan

In Barhydt’s view, the hysteria around bitcoin and other cryptoassets in 2017 was kicked off by the Japanese government’s approval of this new technology.

“My take is the price went up because the Japanese government basically gave a blessing to the institutional investors that says, ‘We support this,’” said Barhydt. “In Japan culturally, that has a different meaning than in the U.S. That was like a blessing that says, ‘Go forth and prosper.’ It’s almost like a blessing of ‘please do this’ — [in] the way that it was accepted by the market.”

This is contrary to how people tend to operate in the United States, for example, where the mantra is to try something first and then ask for forgiveness later if it turns out to be illegal.

According to Barhydt, the movement into bitcoin by institutional investors in Japan led to

This is contrary to how people tend to operate in the United States, for example, where the mantra is to try something first and then ask for forgiveness later if it turns out to be illegal.

According to Barhydt, the movement into bitcoin by institutional investors in Japan led to…

Continue reading at COIN JOURNAL