Author: Linda Mckinney

Bitcoin could rise to $75,000 this year to top record high, bank CEO predicts

According to Seba, the CEO of a Swiss bank, Bitcoin’s value could almost double to $75,000 in 2017 as more institutional investors embrace the most popular cryptocurrency on the planet.

Guido Buehler stated that he believes the price will rise at the Crypto Finance Conference held in St. Moritz (Switzerland) on Wednesday.

The boss of the Swiss bank, which is regulated and focuses on cryptocurrency, stated that ‘our internal valuation models indicate an price right now between $50,000 to $75,000’. “I am quite certain we will see that level. Timing is everything.

Bitcoin’s value has fallen after it reached an all-time high of $69,000 in November. Its price fell below $40,000 Monday. This means that bitcoin is at a low point not seen since September.

Buehler was asked if bitcoin would surpass the record-breaking levels of last year. However, he said that he thinks so but stressed that volatility will continue to be high.

This week’s price drop was caused by rising Treasury yields and the possibility of higher central banks interest rates. Investors continued to sell risky, growth-oriented assets as a result.

According to Coin Metrics, Bitcoin dropped as much as 6% Monday and touched a low of $39771.91, At 5 a.m., it traded at $42,921.55. ET on Wednesday

After a week of poor trading, the cryptocurrency market has seen a decline. This was especially true for momentum stocks. Investors have begun to shift into more value and cyclical names as the U.S. Treasury 10-year yield spiked at 2022’s start. The 10-year U.S. Treasury yield rose to 1.8% Monday after closing at 1.5% in 2021.

Noelle Acheson from Genesis, head of market insight, said that bitcoin has behaved like a risk asset “on numerous occasions”

“When the market is jittery bitcoin falls. There are many signs that the market sentiment has been affected by the rise in the 10-year. This is bad news for any asset with high volatility cash flows. Bitcoin is liquid, unlike many other assets that have been contaminated by this brush and can therefore take more selling pressure without taking a big hit.

Buehler stated that he believes institutional investors will boost bitcoin’s price in 2022.

He stated that institutional money would likely drive up the price. “We work as a fully regulated banking institution. Asset pools are available that are ready to invest at the right time.

Buehler stated that Seba Bank had examined the technology behind cryptocurrency and determined that it was going to’redefine finance’ before seeking regulatory approval.

CNBC reported Wednesday that Bill Tai, a venture capitalist from California, said that the crypto market is experiencing a ‘yet other wobble’.

He said, “I don’t know when it will go back up but it’s coming back up,”

He said that cryptocurrency is at the core of institutional acceptance.

El Salvadorans report missing Bitcoin from their Chivo cryptocurrency wallet

Many El Salvadorans took to Twitter to claim that Bitcoin cryptocurrency disappeared mysteriously from their Chivo wallets.

In September, El Salvador became the first country in the world to accept Bitcoin as a legal currency. This move attracted global media attention, but also attracted criticism from the opposition. The International Monetary Fund (IMF), which warned the country not to make Bitcoin a legal payment, due to risks associated with the volatility of the cryptocurrency.

The Chivo wallet, a cryptocurrency wallet that citizens can use to make Bitcoin transactions, is called the Chivo wallet. The wallet was launched by Nayib Bukele, the eccentric but beloved president of the country. It was created after the legalization of Bitcoin as a currency in the nation. The Chivo wallet has been accepted by large banks and merchants in the country, allowing them to increase their credit functionality and accept Bitcoin.

According to the New Scientist report, citizens in El Salvador claim that their Bitcoin is disappearing from their Chivo wallets. El Comisionado has already identified 50 of these complaints. “The government has not replied to the complaints nor acknowledged the errors. People are demanding that the government respond to their complaints. El Comissionado explained to the New Scientist that many people have waited for months to receive a reply.

Currently, however, the government has not yet issued an official statement regarding the matter.

In November, Bukele announced that it would build the first Bitcoin City, which will be funded by a $1 billion Bitcoin Bond. The proposed city will be built along the Gulf of Fonseca, near a volcano. The government of Bukele is counting on Bitcoin as a way to stimulate the country’s economy and encourage investment. This assumes that Bitcoin prices remain on an upward trajectory.

Bukele says that residents of Bitcoin City won’t be required to pay income, property, capital gains, or payroll taxes. With foreign investment in mind, the city will be built.

It is worth noting that El Salvador had 1,220 bitcoins as of November 26th. El Salavdoran President was currently on a spreeof adding more Bitcoin to its country funds.

Survey Shows Millennial Millionaires Plan to Buy More Crypto Next Year Despite Price Volatility

CNBC conducted a survey and found that 83% of the millennial millionaires have cryptocurrency. Survey respondents were asked to identify investors with assets of $1 million or more. This excludes primary residences. 53% of millionaires surveyed have at least 50% in crypto assets such as bitcoin and ethereum. Nearly one-third of participants polled had at least three quarters of their investable assets in crypto currencies.

CNBC’s survey reveals that older millionaires are more successful than younger millionaires. Only 4% of baby boomers own crypto, while three quarters of generation X participants don’t have any cryptocurrencies. The millennial millionaires are the leaders in leveraging crypto assets to create investable wealth.

When discussing the results, George Walper, president of Spectrem Group, said that there was a significant difference in wealth between generations. CNBC and Walper’s survey suggest that crypto assets will be’remain central in their investing in the future,’ especially for millennial and generation Z investors.

President of Spectrem Group Says Millennials Seem to be Comfortable with the Volatility’

Despite crypto’s decline in USD value, “millennial millionaires” plan to add crypto in 2022. Walper says there are two types millennial crypto investors: those who have made millions out of crypto and those who add crypto assets to their existing investable wealth. A majority of millennials stated that they had inherited funds. Millennials with more than $5 million in investable wealth said that inheritance was a major factor.

CNBC also notes that there are many millennials who have made millions using crypto and have been referred to as’self-made millionaires’. CNBC also asked Walper if millennials would continue to invest in crypto markets if the crypto economy declines. Walper stated that they seem to be comfortable with volatility.

Blockchain.com Acquires Latin American Crypto Investment Platform Sesocio

Blockchain.com raised $300m in March and its post-valuation jumped to $5.2 Billion. Blockchain.com’s CFO Macrina Kgil spoke about the company’s $1 trillion worth of cryptocurrency transactions. Kgil also revealed that Blockchain.com had BTC as well as Ethereum on its balance sheets. The crypto company was founded by Nicolas Cary and Benjamin Reeves in 2011. On Tuesday, described that they have acquired the Latin American crypto investment platform .

Blockchain.com stated that the company has made an impact in Brazil, Chile and Colombia. Blockchain.com is similar to the Coinbase announcement that said Unbound Security’s acquisition would result in a presence in Israel. It also notes that there will be a physical presence’ in Latin American countries through local opening of offices and hiring. In its announcement, the Luxembourg-based company stated that their goal is to make cryptocurrency solutions more accessible and easier for the unbanked.

In a statement, Peter Smith, Blockchain.com CEO, stated that Latin America offers one of the greatest growth opportunities in crypto in the next decade. “Millions of people have seen inflation at its worst and new currencies emerge from thin air. They also experienced political instability, which created a favorable climate for crypto. Smith said that the Sesocio team aims to give every Latin American access to a global cryptocurrency platform.

The acquisition of Blockchain.com follows the deal the company made with Griid Infrastructure, a bitcoin mining firm. Griid stated to the media that it had secured a $525m credit facility from Blockchain.com on November 23. Blockchain.com also acquired Storm Inc., an investment firm Magic Carpet and Aix, a consumer startup.

Guido Quaranta (Sesocio’s CEO and co-founder) said that they are proud of the achievements in Latin America and the business growth. “I am confident that Sesocio can thrive in the next chapter of this journey. We will create a new era of crypto accessibility in Latin America, and beyond, together with Blockchain.com.

Bitcoin mania! You’d be surprised to know how much cryptocurrency Google CEO Sundar Pichai owns

Sundar Pichai (Google and Alphabet CEO) recently spoke out about his experiences with cryptocurrency during an interview at an economic forum held in Singapore. Pichai was asked about his company and what cryptocurrency he has.

Pichai, who admitted that he didn’t have any cryptocurrency, said, “I wish I did.” It’s something I’ve tried out, but not in any serious way.

This revelation might seem surprising, as Pichai revealed in 2018 that his 11-year-old son was mining cryptocurrency Ethereum on the family’s home PC.

During a New York business conference, he stated, “Last week, I was at dinner and we were talking about Bitcoin. My son clarified that I was talking Ethereum, which is slightly more different.” Pichai said, “He’s eleven years old.” He told me that he was mining it.

During his speech at the Sydney Dialogue, Modi, the Indian Prime Minister, called on all democratic countries to ensure cryptocurrency does not get into the wrong hands and ruin the youth. In his speech, the PM stated that there are new risks and new forms conflict with diverse threats.

These range from cyberspace to seabeds to cyberspace. Technology is already a key instrument in shaping the future international order and a major tool for global competition.

CoinList CEO sees bitcoin hitting $100,000 by the start of next year

A chief of a rapidly expanding platform for crypto offerings believes bitcoin will hit $100,000 by the beginning of next year.

Graham Jenkin, CEO of CoinList, is bullish about the cryptocurrency. It reached a record $66,000 Oct. 20, following the launch by the highly-anticipated U.S. Bitcoin futures ETF. At 6:45 AM in London, the digital currency lost some of its gains and traded at $59,052 per piece.

Jenkin, however, was optimistic that bitcoin would rise to greater heights.

“Most people at CoinList will wager that we’ll be at $100,000 by the end. It’s getting tight, so I don’t know if we’ll make it there. But that’s what CoinList predicted toward the beginning of the year.

CoinList recently announced $100 million in series-A funding. This has allowed it to reach a valuation of $1.5billion.

Many financial professionals and companies believe that the currency will reach and surpass the $100,000 mark. They consider inflation and the launch of an ETF as ideal conditions for bitcoin’s growth, calling it a hedge against inflation.

Paul Tudor Jones, a billionaire investor, told CNBC earlier this Month that he prefers cryptocurrency to gold as an inflation hedge.

“There is a plan for crypto, and it clearly leads the race against gold at this time.” Jones said. Jones said that he thought it would be an excellent inflation hedge. It would be my preference over gold at the moment.

Fidelity Investments sees the currency reaching $100,000, but with a longer timeline.

Jurrien Timmer is Fidelity’s global macro director. He explained to CNBC that the prediction was based on a supply-demand model he studies. He said that $100,000 is the next and final time these two models will intersect in a few years.

There are still many bitcoin skeptics.

JP Morgan Chase CEO Jamie Dimon called bitcoin “worthless” after previous statements that the currency had no intrinsic value.

He believes bitcoin will be around for the long-term, but he also said to Axios that he still believes it will become illegal .

He said that he believed that regulators would regulate it.

United Wholesale Mortgage, America’s second-largest mortgage lender, has stopped accepting bitcoin payments. It cited ‘the current combination incumbent costs and regulatory uncertainty in crypto space’.

Mark Yusko, bitcoin bull, is warning about a pullback. He calls it overbought and expects investors to profit from bitcoin’s current high price.

Yusko stated that a pause that recharges, given the current overbought state of the economy, wouldn’t surprise him. There is a risk that the “buy the rumor, sell news” strategy could be used. Yusko still sees any potential profit-taking only as temporary, and sees Bitcoin hitting $250,000 within five years.

It is a good thing for CoinList to be bullish about bitcoin. However, the CEO of CoinList said that the platform is not affected by the volatility of cryptocurrency.

Jenkin stated that there is no impact on bitcoin prices with respect to our platform. However, it tends to be more separated between what’s going on with bitcoin price and the eagerness of our community to access tokens and offerings early in the platform’s development.

“Certainly, if bitcoin were to go to zero that would pose a serious challenge to our platform, but that’s not something we expect to happen anytime soon.”

Tesla Billionaire Elon Musk Signals Suprise Dogecoin ‘Update’ Support As The Bitcoin Price Suddenly Surges

Elon Musk, the Tesla billionaire, has been adamant about supporting meme-based cryptocurrency dogecoin.

The price of dogecoin has rocketed this year, climbing almost 10,000% in the last month. This propels the memecoin to the crypto top ten- thanks to Musk’s Twitter personality. The bitcoin price, by comparison, has increased 400% in the past 12 months. Much of this increase was due to Musk’s revelation that Tesla had purchased $1.5 billion worth bitcoin at the start of the year.

Musk replied to Billy Markus, a co-creator of the tongue-in-cheek rival bitcoin, and said that dogecoin miners, who secure the network in exchange for freshly-minted coins, need to ensure their software is up-to date.

Markus wrote that’mining pools need to be updated’ in a Twitter thread. Markus has largely stopped working on the dogecoin project. Musk responded with a thumbs up emoji.

You can run a node as many times as you like. Markus wrote that in order to help the network, one must be able to run a reliable, full-featured node. He also needs to use significant bandwidth and keep it updated. Existing node operators are required to upgrade in order for 1.14.4 to be a success.

Musk released the latest version of dogecoin in August to prepare ‘the networks for lower recommended fees’. He has previously asked network nodes to upgrade their software to lower dogecoin transaction costs- part of his plan to “beat bitcoin hands down”. 

Musk stated last month that it was crucial for doge fees not to rise to make movie tickets purchases viable. Musk stated that he was working with developers of dogecoin to improve system transaction efficiency back in May.

Musk’s comments about dogs can sometimes influence the dogecoin price. However, so far, it has not moved much on Musk’s latest intervention. The dogecoin market peaked in May, ahead of Musk’s highly-anticipated appearance on U.S. comedy program Saturday Night Live. It has since lost about 70% of its value.

Musk has also caused huge price swings in smaller cryptocurrencies. Musk shared a photo of his Shiba Inu dog last week. This helped to push the price for the dogecoin-derived Shiba Inu cryptocurrency up nearly 500%. Although it has lost some of its gains, it is still much higher than the beginning of the month.

The bitcoin price is still on the rise, reaching $58,000 per bitcoin, for the first time since the May crackdown in China.

What Technical Levels Should Traders Watch After Bitcoin’s Latest Rally?

Bitcoin prices had a great day. They climbed more than 6% in under an hour, and then they continued their gains later.

This morning’s innovative digital asset surged, from $44,875.50 at 6 a.m. ET to $47,650.40 just after 6 a.m. EDT, coinDesk figures reveal.

After some volatility, the cryptocurrency trended up, reaching $48,462 at 6 p.m. ET according to additional coinDesk data.

The cryptocurrency has risen more than 11% in the past 24 hours.

[Ed Note: Investing cryptocoins and tokens is highly risky as the market is not regulated. It is possible to lose all of your investment.

Many market observers speculated on the future of bitcoin after the price rise.

William Noble, chief technical analyst at research platform Token Measures, stated that ‘The next level in BTC is likely to be 49k’.

“That’s the area where the decline began.”

He provided some context and stated that:

“The Fed could have placed money into the system to cushion the eventual Evergrande events. This could have caused flows to BTC, causing short sellers and hedgers to cover.

Jake Wujastyk (chief market analyst at TrendSpider), also contributed.

“The psychological level of $50,000 is the key resistance level for Bitcoin, and the September 5th high (just shy of $53,000) is the next.

“The daily raindrop chart shows heavy volume accumulation at the top of this range, so these levels could come quite quickly.”

Collin Plume is the CEO and founder of My Digital Money. He described it as a’major resistance’ to bitcoin’s rise toward $60,000.

He identified support key, pointing out the $40,000 level.

Nick Spanos, cofounder and CEO of Zap Protocol offered a similar view, describing $39,000.00 as a critical support level.

He said that bitcoin prices could fall in the short-term and this price level could “bounce BTC’s value back up again and set it up for another rally.”

Wujastyk referred to a higher level of support, and stated the following:

“After breaking out from the falling wedge on the daily chart today, the main level you should watch below is volume-weighted average prices anchored from September 5th high at $45,100.

Avalanche-based DeFi platform Vee Finance says it’s lost $35 million in ether and bitcoin in a crypto hack

Vee Finance, an Avalanche-based platform for decentralized finance (DeFi), stated Tuesdayit that a single account had stolen around $35 million in bitcoin and ether.

Vee Finance, a cryptocurrency payment company, announced Sunday that the platform had a total value of $300 million. Monday’s attack resulted in the loss of 8,804.7 ether, and 213.93 bitcoin. The company informed its clients and advised them not to use its services on Wednesday.

This is the second attack on an platform that uses avalanche to generate revenue in less than a week. Zabu Finance was the first to be hacked. This DeFi protocol supports peer-to–peer activity and does not require a central player such as a broker or bank. It reported that it had lost $3.2 Million to an attack on September 13.

According to address monitoring, the attacker still hasn’t transferred or processed the stolen assets. Vee Finance stated in a statement that they are working on it and had proactively communicated with the attacker on the chain.

Vee Finance stated, “At the same, we are working alongside contract auditors, exchanges in industry to locate and assist with recovering the assets.

Chainlink, which creates DeFi apps, and the Avalanche Blockchain were among the company’s partners.

Vee Finance claimed they were able locate the address and suspend it. They also stopped the deposit-and borrow function. It stated that all pending orders were suspended and that no new orders could be made. It said that existing users could withdraw money as normal and that their stablecoin sections were not affected.

Retail Investors Will Drive A $1 Million Bitcoin Price

To HODL bitcoin means to love bitcoin. Love, as the primary experience for which we were created, should be spread like pollen to the wind.
You must educate your friends and family about bitcoin if you are truly to love them. They must be reminded every time they experience a negative outcome due to the fiat currency. In a society that has a falling monetary system, knowledge is power. This is the key to maintaining stability in your family.

One of the greatest benefits of bitcoin is its ability show its merits by rewarding, encouraging people who have bitcoin to be even more aware of its virtues. Many bitcoiners have found that communication, podcasts, articles and other means of sharing their knowledge are key to their journey. However, this information shouldn’t be kept to themselves.

Once you have a basic understanding of bitcoin, it is essential that the responsibility to promote, share and defend it be instilled within every Bitcoiner. We can still be beacons of truth and direction in the midst of chaos and confusion. Retail investors can demonstrate the positive feedback loop that bitcoin growth and investment provides by being purposeful. There is a lot of information available for those who are interested in humanitarian benefits. For technology enthusiasts, the possibilities are endless with bitcoin.

It is up to those who are already orange-pilled, however, to spread the message about bitcoin to others. It takes a concerted effort in order to reach out, educate, and empower those who haven’t been reached. This effort will allow us to bring bitcoin to the masses and increase its adoption. It will also drive the bitcoin price higher. As the self-rewarding loop of ‘number go higher’ technology continues to propel us towards hyperbitcoinization, this will in turn bring more interest.

Retail investors can drive us to $1 million in bitcoin prices by showing bitcoin to others. Or bitcoin will just show itself.