Tag: bitcoin survey

Bitcoin Has Crashed Again—But Is This When To Buy Bitcoin?

Bitcoin and cryptocurrency investors have had their hopes of a return to bitcoin’s all-time-high in 2019 all but dashed after the latest sudden sell-off.

[Updated Nov. 25 at 7:48 a.m. ET] The bitcoin price last night fell to a six month low of $6,515 per bitcoin on the Luxembourg-based bitcoin and crypto exchange Bitstamp. The bitcoin price is down some 6% over the last 24-hour trading period, wiping billions of dollars from the value of the world’s biggest cryptocurrency.

The bitcoin and crypto industry has been rocked by a severe bitcoin and crypto trading warning out of China, which some have blamed for the latest sell-off.

Now, Wall Street veteran Peter Brandt, who made a name for himself by predicting bitcoin’s devastating 2018 bear market, has called bitcoin’s low for July 2020–two months after bitcoin’s closely-watched halving event.

“My target of $5,500 is not far below today’s low,” Brandt wrote on Twitter ahead of the weekend’s sell-off.

“But I think the surprise might be in the duration and nature of market. I am thinking about a low in July 2020. That will wear out bulls quicker than a price correction.”

Brandt, who earlier this year said bitcoin will eventually hit $100,000 and described the bitcoin market as “like no other,” warned bitcoin bulls “must first be fully purged” before the price will rebound.

Brandt’s comments echo some of bitcoin’s biggest bulls, who have recently come out in force to reassure investors that bitcoin is far from dead.

As well as the May bitcoin halving, which will see the number of bitcoin rewarded to miners cut by half from 12.5 bitcoin to 6.25 bitcoin, bitcoin investors are hopeful next year will bring an increase in the number of bitcoin retail investors and people using bitcoin and cryptocurrencies for payments.

Bakkt, a New York Stock Exchange-owner backed bitcoin and cryptocurrency venture, announced last month it plans to launch a consumer app for cryptocurrency purchases in 2020.

U.S. coffee chain Starbucks will be its first launch partner, with the company one of the original backers of the crypto project, along with software giant Microsoft and Boston Consulting Group.

Meanwhile, Bakkt’s bitcoin futures daily volume hit a new all-time high, according to data from Intercontinental Exchange, with some $20.3 million across 2,700 futures contracts on Friday.

Many in the traditional financial industry remain unconvinced by bitcoin and crypto, however.

This month, former European Central Bank president Jean-Claude Trichet slammed bitcoin and Facebook’s crypto project, warning bitcoin is “not real” and not the future of money.

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Billy Bambrough

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Source: Bitcoin Has Crashed Again—But Is This When To Buy Bitcoin?

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Check out the Cryptocurrency Technical Analysis Academy here: https://bit.ly/2EMS6nY Join The Cryptocurrency Technical Analysis Academy for $40 off using the coupon code “August 2019”. In this video we analyze a head and shoulders pattern that is forming in this downtrend. Will this mean that the down trend is over and we will have a new rally? Or will Bitcoin continue moving to the downside and go even lower? – – – If you enjoyed the video, please leave a like, and subscribe! – – – Follow me on Instagram & Twitter: @cryptojebb Join the Discord! https://discord.gg/59jGjJy #Bitcoin #BitcoinToday #BitcoinNews I am not a financial adviser, this is not financial advice. I strongly encourage all to do their own research before doing anything with their money. All investments/trades/buys/sells etc. should be made at your own risk with your own capital. Spare Change? BTC 127eLjKTBKU9HTFhYowCDC4D3JBxonVk15 ETH 0x5115ACa82edf204760fE3B351c08a48d6004D89B LTC LSKXx3fQRK5LMowGznVvo6A9NtmtaQaoqP Please do not feel obligated to donate, though donations are appreciated!

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Education

Something Very Strange Is Going On With Bitcoin And BTC Google Searches

Bitcoin and cryptocurrency prices are well known to be closely tied to media and general public interest–-though that could be changing.

The bitcoin price has been climbing so far this year, rising some 200% since January, though has recently plateaued at around $10,000 per bitcoin after peaking at more than $12,000 in June.

Now, it appears Google searches for bitcoin and BTC, the name used by traders for the bitcoin digital token, could be being manipulated–-possibly in order to move the bitcoin price.

Source: Something Very Strange Is Going On With Bitcoin And BTC Google Searches

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Category

People & Blogs

 

New Data Reveals Serious Bitcoin Warning

Bitcoin has been rallying hard so far this year but the latest bull run, which has seen the bitcoin price soar by around 200% in just six months, could be coming to an end.

The bitcoin price, which is now hovering just under $10,000 per bitcoin, has climbed so far this year mostly due to expectations the world’s biggest technology companies, led by social media giant Facebook, could be about to dive headfirst into bitcoin and cryptocurrencies.

Now, it seems bitcoin could be headed for a sudden fall, with technical data suggesting the bitcoin price could be about to move sharply lower.

Bitcoin earlier this week broke below its 50-day moving average, which it’s thought could mean the bull run that saw the bitcoin price rise from under $4,000 per bitcoin at the beginning of the year to almost $14,000 could be over.

Bitcoin price data also shows it’s trading under the lower limit of the closely watched GTI Vera Band indicator, it was first reported by Bloomberg, a financial newswire.

The bitcoin price began climbing earlier this year as the likes of iPhone maker Apple, micro-blogging platform Twitter, and Facebook looked to bitcoin and cryptocurrencies as a potential new revenue stream.

However, the rally was halted in its tracks after regulators around the world poured cold water on Facebook’s ambitious plans to issue its own cryptocurrency, libra, some time next year.

It’s now thought that regulatory issues could completely derail Facebook’s libra project, though it says it’s committed to working with lawmakers around the world to make libra a reality.

“There can be no assurance that libra or our associated products and services will be made available in a timely manner, or at all,” Facebook said.

“[Bitcoin] stands at a key technical juncture,” Miller Tabak + Co.’s equity strategist Matt Maley was quoted by Bloomberg. “[Greater regulatory scrutiny] will become an even more prominent issue (much more prominent) once we move past the summer recess for Congress and into the meat of the 2020 election cycle.”

Bitcoin was pushed into the limelight earlier this month by U.S. president Donald Trump when he unleashed a scathing attack on bitcoin and cryptocurrencies, branding them “unregulated assets” in a series of tweets.

Following Trump’s attack and warnings from other global regulators, forensic accountancy firm BTVK warned the bitcoin and crypto “wild west” could be coming to an end, with global regulators closing in on bitcoin and cryptocurrency exchanges as a result of the spotlight brought by Facebook’s libra project.

Some U.S. presidential hopefuls have though said they’d support bitcoin and the creation of other cryptocurrencies to rival the U.S. dollar, potentially turning bitcoin and crypto into a 2020 election issue.

Earlier today, U.S. lawmakers grilled bitcoin, cryptocurrency, and blockchain experts on how Facebook’s libra could upset the U.S. economy.

“It’s clear that digital assets don’t really fit in our current financial system, as the current regulatory framework is awkwardly divided between banking regulators and market regulators,” said Christine Trent Parker, partner at law firm Reed Smith, following the hearing.

“It is unfortunate that today’s hearing made clear that Congress is not going to move forward any time soon in rectifying this issue and that in fact, the lack of clarity and uniformity may be intentional to hamper the ability of U.S. consumers to access (and benefit from) these technologies.”

Some bitcoin and cryptocurrency analysts remain upbeat, however, despite regulatory fears.

“Volumes continue to decline in the crypto market as the cool-down seems to be coming to completion,” Mati Greenspan, senior market analyst at brokerage eToro, wrote in a note to clients.

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Billy Bambrough

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk

Source: New Data Reveals Serious Bitcoin Warning

Bitcoin Private Price Gains 12% out of the Blue

https://www.pivot.one/share/post/5c0fa9c5ad59e77d33770f92?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

Survey: Fifth of Brits Believe Bitcoin Will Be the Currency of the Future – Julie Williams

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Bitcoin as a financial instrument has been in existence for quite a long while (since around 2008). It has revolutionized the way financial transactions are being carried out in many sectors across the globe. This is because it possesses the following properties:

  • It is irreversible: After confirmation, a transaction cannot be reversed, whether by you, me or even the Prince of Wales.
  • It is secure: A Bitcoin address is more secure than any central bank in the world. This is because Bitcoin funds are locked in a public key cryptography system. Therefore, only the owner of the private key can send cryptocurrency.

Bitcoin is having a volatile period, in fact, it’s had quite a year. It moved from a fringe investment to a global sensation in a matter of weeks in November 2017. All these necessitated the question – what is the future of Bitcoin? One thing is certain, cryptocurrency is changing the future of finance.

A survey on the use of cryptocurrency today and in the future in Great Britain was conducted by YouGov. YouGov is an international internet-based market research and data analytics firm which serves industries, governments, and people by gathering data and giving it to those who can act on them.

Below is the result of the survey:

1. Most people know about Bitcoin

93% of those who contributed to the poll were aware of Bitcoin. This is a huge figure when we take into consideration the fact that Bitcoin has only been around for a short while compared to other currencies. It also shows that Bitcoin has made an impact in Britain.

Among the contributors, one out of twenty persons (4%) claimed to understand Bitcoin very well, while almost six times that many claimed to understand it fairly well. Also, young men seemed more likely to claim to understand Bitcoin than the female folks.

2. British men claim to have a better understanding of Bitcoin than women

A large number of men claimed to understand Bitcoin. 39% of men claim to understand bitcoin either “very well” or “fairly well”, compared to just 14% of women who said they felt the same.

3. Young people have a stronger grasp of crypto than older people

Over 2 in 5 of young people that responded to the survey said they understood Bitcoin fairly well, while 16% of those who are older than 55 said they grasped the technology.

4. Young people have invested more in bitcoin than older people

45 respondents aged 18 – 24 claimed to have bought Bitcoin while just 1% of those aged 55 years and above have bought Bitcoin.

5. Bitcoin will be as common as cash or credit card

As already believed by the average crypto enthusiast, 20% of the participants in the survey believe that Bitcoin will be the currency of the future, 80% do not believe or are not very sure, while 43% are certain it won’t be as common as cash or credit card in the future.

Anyway, that’s their take. Where do you stand? Have you heard ofBbitcoin? Have you ever bought Bitcoin? Do you believe Bitcoin is centrally controlled or controlled by the people who own it? Do you think Bitcoin would be as common as credit card or cash in the future? Have your say!

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