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Financial Advisory Firm Says Past Market Trends Point to Bitcoin at $20,000 by 2021

Financial advisory firm Canaccord Genuity has predicted that bitcoin (BTC) could hit $20,000 by 2021 based on retrospective projections in an analysis published on May 9.

This prediction is based on a close similarity between the four-year price cycles of bitcoin during the 2011–2015 and 2015–2019 ranges, as shown in the following graph:

Bitcoin price cycles. Source: Canaccord Genuity

Canaccord Genuity points to the bitcoin mining rewards schedule as a possible cause for these four-year price cycles, since the reward drop — which decreases by 50% for every 210,000 blocks mined — has so-far occurred about once every four years. However, the report cautions:

“As always, we caveat this observation with the obvious — this is simply pattern recognition and not reliable fundamental analysis.”

Canaccord Genuity analyst Michael Graham commented on cryptocurrency prices at the beginning of 2018, saying that the upswing in regulatory enforcement would likely have a major impact on the crypto market via dislocation (therefore making it hard for crypto assets to be accurately priced).

Earlier this week, Galaxy Digital Founder and CEO Michael Novogratz predicted that the price of bitcoin would exceed $20,000 by the end of 2020. Novogratz did not provide a specific rationale for his conviction, but did note that bitcoin is in a bull market and is outperforming the price growth of other cryptocurrencies.

At press time, bitcoin is trading at $6,404.55 and is trending up by 4.89% on the day, according to data from CoinMarketCap.

Source: Financial Advisory Firm Says Past Market Trends Point to Bitcoin at $20,000 by 2021

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Free Money for Everyone Sounds Great, But Finland Proves Basic Income is a Bust

Universal basic income experiments and other plans that seek to distribute free money seem wonderful considering so many people struggle to make ends meet because of their limited incomes. In the U.S., many legislators have called for federal and or/state governments to trial these economic policies. One recent proposal actually calls for people to receive money from the government even if they are unwilling to work……….

Source: Free Money for Everyone Sounds Great, But Finland Proves Basic Income is a Bust

South Korean financial watchdog sticks to the decision of banning ICO

A new update has emerged from the South Korean financial authority, the Financial Services Commission (FSC). The financial regulatory decided to maintain the ban enforced towards ICOs, based on the findings of the Financial Supervisory Service (FSS). Started September last year, the FSS conducted a survey to 22 enterprises in the country that had launched ICOs, on which they only received feedbacks from 13 of them………..

Source: South Korean financial watchdog sticks to the decision of banning ICO

The Key Facts Every Franchisor Needs To Know About Financial Performance Representations – Chris Myers

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Franchising isn’t a particularly complicated concept when you get down to it. It’s really just a matter of providing a proven system and support structure to entrepreneurs who don’t want to recreate the proverbial wheel. Of course, it wouldn’t be fair to say that franchising is entirely straightforward, especially when it comes to the sales process. One particularly confusing aspect of franchising deals with financial performance representations. Put simply, franchisors and their sales representatives are prohibited from providing specific information regarding how much money a potential franchisee could make……

Read more: https://www.forbes.com/sites/chrismyers/2018/08/18/the-key-facts-every-franchisor-needs-to-know-about-financial-performance-representations/#48e8457a6120

 

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