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Tom Lee has lowered his expectations for Bitcoin’s price at the end of the year to $15,000 from the previous $25,000. Wall Street analyst and cryptocurrency bull Tom Lee has nearly cut his end-year Bitcoin (BTC) price target in half from $25,000 to $15,000, CNBC reported Nov. 16. According to Lee – the co-founder of market advisory firm Fundstrat Global Advisors – the key factor behind his new target is Bitcoin’s “break-even point,” or the level at which the cost to mine Bitcoin matches its trading price, as CNBC reports. According to Fundstrat’s data, this point is at around $7,000. Bitcoin is currently trading well below this value – $5,550 at press time. According to CNBC, however, Lee told clients in a note Friday that BTC has “never sustained a move below breakeven [sic].” While he is strongly betting on recovery, Lee acknowledges that breaking “below that psychologically important $6,000” leads “to a renewed wave of pessimism.” Moreover, he also added: “But we believe the negati..
Ethereum’s token, ether [ETH] is on the path to better days, says Ian McLeod, a notable technology expert, and cryptocurrency analyst. McLeod, a tech expert with Thomas Crown Art predicted that the second largest cryptocurrency will experience a price surge that will see its price go as high as $500 before the year ends. He explained: “Ethereum is back in a bull territory and is on track to enjoy considerable gains before year-end. I maintain that we can expect Ethereum to hit $500 by the end of 2018 and go on an overall upward trajectory throughout 2019.” Reason for Ethereum Price Breakthrough McLeod went on to give reasons for his bullish outlook on ethereum. He said this is based on advancements in Oracle, a technology which could lead to greater adoption of cryptocurrencies in mainstream applications. He explained: “However, what will be the monumental, defining driver for its global breakout? Oracles. Oracles link Ethereum-run smart contracts to the real world and will be re..
Ethereum (ETH) is now trading in a safe zone after struggling with the bears and declining below the $210 mark. Recently, the digital currency even lost its position to XRP (XRP), but it was able to amass strong momentum to regain its position. Ethereum is now in an uptrend close to its previous highs, but the digital currency is facing strong hurdles on the upside close to the $235 mark. Ethereum (ETH) Price Today – ETH / USD Name Price24H (%)$224.36 4.46% At the time of writing, Ethereum (ETH) is changing hands at $231 after seeing gains of more than seven percent over the past twenty-four hours. Ethereum (ETH) currently boasts of a market cap of $23.66 billion and its trading volume over the past twenty-four hours has also increased to $2.14 billion. Thomas Lee Predicts a Massive Rally for Ethereum (ETH) There have been lots of predictions regarding the values and growth of digital currencies in the market before the end of this year. Nevertheless, the value of most coins seems t..
The past week has been favorable to a lot of digital currencies and the entire market at large, with some digital currencies seeing an enormous amount of growth and the overall market cap of the crypto market increasing by $35 billion. A couple of days after the massive rally, Bitcoin (BTC) and other coins are starting to correct lower, with XRP – which was the highest gainer over the past week – leading the losses. Bitcoin (BTC) has shown a great level of stability over the past month. Even when other digital currencies such as Ethereum (ETH) and XRP (XRP) were seeing gains from thirty to one hundred percent, BTC maintained a slow but steady growth. Even as other coins are correcting by double-digits, the correction of Bitcoin (BTC) is still minimal, showing a great level of stability. SEE ALSO: There Might Be Hope For Bitcoin Cash (BCH) As The Price Moves Toward A Significant Resistance Level Bitcoin (BTC) Price Today – BTC / USD Name Price24H (%)$6,433.05 -2.64% Chris Kline Predi..
A legendary ex-hedge fund manager and billionaire investor – Michael Novogratz, has come out to say that he sees the value of Bitcoin (BTC) increasing by 30% by the end of this year. Novogratz said that once the value of Bitcoin (BTC) breaks over key hurdle points at $6,800, $8,800, and $10k, institutions will start coming into the market through trusted custodian solutions. It’s Impossible for Bitcoin (BTC) not to reach $10k Michael Novogratz explained, during an interview with Fast Money of CNBC, that it’s impossible for Bitcoin (BTC) not to break over the $8,800 to $10k range. Over the past three days, the market cap of the entire digital currency market has increased by $25 billion, triggered by the 110% increase in the value of XRP and the strong resilience and traction shown by Ethereum (ETH). SEE ALSO: Here’s What Happened to XRP (XRP) On 21 September Bitcoin (BTC) Price Today – BTC / USD Name Price24H (%)$6,753.84 0.93% Novogratz earlier said that the next big, long-term pri..
Billionaire investor Tim Draper has forecasted that total crypto market capitalization will reach $80 trillion in the next 15 years. Venture capital investor Tim Draper has predicted that total cryptocurrency market capitalization will hit $80 trillion in the next 15 years, news outlet DealStreetAsia reported September 14. Speaking at the DealStreetAsia PE-VC Summit 2018 in Singapore, Draper argued that the significant slide in the cryptocurrency market in recent months is attributed to people who have not adopted digital currencies as a new asset class. Draper stated that once people become more familiar with the technology, it would transform many important industries globally: “I think it’s going to have such a transformative effect on industries that we never even imagined would be transformable. The internet went after industries that were $10–100 billion dollar markets, cryptocurrency will go after trillion dollar markets — these are finance, healthcare and insurance, banking an..
The CCO of BitPay says altcoins will “never come back,” calling Bitcoin “the leader in the space” to rebound in 2019. The CCO of global crypto payment processor BitPay said that altcoins “will never come back,” while Bitcoin (BTC) will “rebound” in 2019, in an interview with Bloomberg September 12. The Chief Commercial Officer of BitPay Sonny Singh said that cryptocurrency markets are now on the threshold of a new stage of progress, which requires a certain “defining moment,” or a “catalyst.” According to Singh, that “defining moment” will come when big institutional investors, such as Goldman Sachs and BlackRock, “become real” in 2019. “But next year you'll see the talk of the big entrants become real, where you’ll see Goldman does launch a trading desk, Fidelity does launch a Bitcoin product, Square offers Bitcoin processing for merchants, BlackRock launches an ETF... So all that will become real, and you’ll see some adoption actually. And then [...] the price [will bounce] bac..