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John McAfee, known for his brave Bitcoin price prediction that the BTC price will reach $500,000 next year, defended his recently doubled down forecast of $1 million per coin in 2020 during a Forbes interview.
In the interview, McAfee argued that the main trigger for Bitcoin’s surging price will be its scarcity.
BTC’s supply is limited to 21 million coins, and a significant proportion of that has apparently been lost forever.
McAfee said: “Let’s get real, there are only 21 million bitcoins, seven million of which have been lost forever, and then, if Satoshi is dead, add a few more million.”
Are Altcoins ready to explode?!
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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THE AVERAGE BITCOIN TRANSACTION VALUE IS NOW WORTH 1K!! PAYPAL TO OFFER BTC AND CRYPTO PAYMENTS!!
➡️ Leverage OPM (Other People’s Money): http://100.cryptonewsalerts.net
The average value of Bitcoin transactions has increased dramatically since July this year.
The average BTC transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct 20 at $151,000 per transfer — representing an increase of more than 500%.
The latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the average value of a transaction increase almost $50,000, up from $105,000, in the last 48 hours.
This surge in transaction value comes shortly after Bitcoin’s trading dominance rose to levels not seen since 2017.
The $151,000 average value is 190 times more than Ethereum’s average transaction value of $793, suggesting a significantly greater institutional presence in the Bitcoin markets.
However, the number of daily Ethereum transactions increased by 30% amid the DeFi boom in August, reaching a 2-year high of 1.29 million on Aug 10.
Over the same period, Bitcoin transactions consistently hovered between 300k and 350k, suggesting the Ethereum ecosystem was the primary magnet for new crypto users.
The number of Bitcoin active addresses also showed no significant changes, fluctuating between 650k and 970K over the last 4 months.
Accumulation figures show that institutional investors are starting to take notice as large investment firms, like Grayscale and Microstrategy, increased their accumulation of large amounts of Bitcoin and other cryptocurrencies over the last few months.
By the end of September, Grayscale controlled at least 449,900 BTC or 2.4% of the current supply of Bitcoin, and Microstrategy owned 38,250 BTC.
Two weeks later, Jack Dorsey’s Square purchased 4,709 BTC (approximately $50 million) in Bitcoin.
In other trending Bitcoin News today:
“PayPal To Offer Crypto Payments Starting In 2021”
PayPal announced on Wednesday its entry into the cryptocurrency market, according to multiple reports.
PayPal customers will be able to use cryptocurrencies to shop at any merchant in its large network starting from early 2021, the company said.
The payments will be settled through fiat currencies, similar to many existing crypto merchant solutions like BitPay.
This means that the merchants will be receiving fiat, as PayPal will take care of the conversion.
The coins initially supported will include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), the company said.
The payments giant partnered with Paxos to deliver the service, and it obtained a conditional cryptocurrency license from the New York State Department of Financial Services, commonly known as the BitLicense.
In addition to cryptocurrency payments, PayPal users will also be able to purchase crypto directly through the app.
PayPal will thus feature a cryptocurrency wallet, letting users buy, sell and hold crypto via the PayPal apps.
PayPal is one of the largest global payment providers, with 346 million active accounts and $222 billion in volume processed in Q2 2020.
It was one of the initial founding members of the Libra association, though it subsequently dropped out after regulatory pressure mounted for the project.
Rumors of a planned crypto integration surfaced earlier this year.
The company is nevertheless often criticized in crypto circles due to perceived unfair practices and the amount of control it has within its own network.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Finally!PayPal joins the bitcoin space race.+ 346 million users+ 26 million merchants + 20th largest “bank” by deposits
Between them, Square, and Grayscale, it’s safe to assume that all remaining BTC will be hoovered up by public companies. https://t.co/d3oEk0LLgv
— Ryan Selkis (@twobitidiot) October 21, 2020
https://cointelegraph.com/news/bitcoin-average-transaction-value-increases-500-since-july
https://cointelegraph.com/news/paypal-to-offer-crypto-payments-starting-in-2021
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BITCOIN (BTC) BULL SAYS THIS NEW TREND WILL IGNITE A MASSIVE 10,000% PRICE SURGE IN CRYPTO ASSETS!!
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Bitcoin (BTC) bull and crypto influencer Lark Davis is unveiling the next big thing in crypto that he believes has the potential to ignite a massive surge of 100x or about 10,000%.
Davis says the crypto market will continue to offer new and profitable opportunities as it evolves and expands beyond the red-hot decentralized finance (DeFi) sector.
“So NFTs (non-fungible tokens) is one such area that is getting a lot of attention right now and could be a big growth area, and it’s certainly an area that we, as investors, maybe want to be paying attention to.”
According to the crypto researcher, NFTs are unique tokens that represent ownership in a particular asset.
“A fungible item is one that can be exchanged for any similar item. For example, a dollar bill is fungible because it can be exchanged for any other dollar and maintain the same value.
However, something like a ticket is non-fungible because even though we could, for example, trade our ticket for someone else’s ticket, well it’s not going to be exactly the same, is it?
Maybe that other ticket’s for a different film, or it’s the same film but at a different time… It’s not equal, is the point.
Each ticket gives you access to a unique set of experience… If we move this idea into the blockchain setting, an NFT is thus a one-of-a-kind token, a certificate of digital authenticity verifiable on chain.”
Lark explains that NFTs offer a wide array of use cases for investors, including ownership in digital art, in-game items such as virtual lands, and skins as well as collectible items such as card decks and virtual pets.
The crypto researcher also highlights that NFTs can extend their reach beyond the realms of art and gaming.
Lark sees non-fungible tokens being used in royalties, insurance, and many other enterprise solutions including tokenizing invoices in order to take out a loan.
While investors who want a position in the emerging space can simply buy NFTs, Lark emphasizes one particular opportunity that can deliver worthwhile gains.
“Perhaps the most financially lucrative use case for NFTs is going to be plugging into DeFi. Maker DAO is already working on bringing music royalties and shipping invoices into their platform…
One that I’m keeping a close eye on is called Persistence. Now, this is a new player coming to Cosmos which will be focused on bringing in enterprises into both the NFT and, of course, into the blockchain world, looking at DeFi and how we can bring those NFTs into DeFi. So this is definitely one that I’m keeping an eye on…”
In other trending Bitcoin News today:
Winklevoss Twins, Bitcoin Billionaires, Think DeFi is a “Revolution”
Ethereum’s DeFi space has fallen off dramatically over recent weeks due to weakness in the markets.
Top coins pertaining to the space have dropped by over 30-40% from their recent all-time highs, resulting in market carnage.
Not to mention, some crypto assets in the space have lost even more than 40%, plunging as capital floods into safer bets such as Bitcoin.
There are still many prominent supporters of DeFi, though.
For one, the Winklevoss Twins, the Bitcoin billionaires behind the Gemini exchange, recently threw their weight behind DeFi in a series of messages.
“DeFi is not the same as the 2017 ICO craze. Back then, money was raised on shitcoin white papers written in a coffee shops. DeFi is already live and working in the wild. Billions of dollars are at work earning positive yield. This isn’t hypothetical vaporware, this is real.” – Cameron Winklevoss
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
DeFi is not the same as the 2017 ICO craze. Back then, money was raised on shitcoin white papers written in a coffee shops. DeFi is already live and working in the wild. Billions of dollars are at work earning positive yield. This isn’t hypothetical vaporware, this is real.
— Cameron Winklevoss (@cameron) September 22, 2020
Winklevoss Twins, Bitcoin Billionaires, Think DeFi is a “Revolution”
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TOP ANALYST PREDICTS BITCOIN WILL HIT $100K IN APRIL!! NETFLIX NEXT BIG GIANT TO INVEST INTO BTC?!!
💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
A widely-followed trader and crypto analyst believes Bitcoin will ascend to a new high of $100,000 sooner than most investors think.
The pseudonymous trader Kaleo tells his 77,000 Twitter followers that the correction across the BTC and crypto markets is likely over.
“Sale ends today. Buy more now…
Good morning and happy Monday. Bitcoin higher. Alts higher. Stonks higher. Bears trembling.”
With the correction out of the way, Kaleo says BTC is poised to begin a fresh rally that will catapult the leading cryptocurrency to gains of over 100% in the coming months.
“Bitcoin/BTC Send it to $100,000.”
According to the crypto trader, he used Bitcoin’s price action during the 2017 bull market and overlaid it on BTC’s current rally. Based on Kaleo’s chart, the leading cryptocurrency could hit $100,000 in April.
The crypto analyst is also looking at two altcoins that he believes have strong bullish potential.
The top token on Kaleo’s radar is decentralized exchange SushiSwap (SUSHI). Kaleo believes SUSHI is gearing up for a move above $30 as it follows Uniswap’s (UNI) footsteps.
The second coin on Kaleo’s list is blockchain gaming platform Enjin Coin (ENJ), which he says is a buy on dips as he expects it to soar in the coming days.
“Expecting a day or two of accumulation in the 70 to 80 cents range before making the move to $1.00+.”
The crypto strategist highlights that his rosy outlook on the ENJ is also rooted in its strong fundamentals.
“Another reason why I’m so bullish on ENJ is their involvement in the gaming NFT space, which is a market with huge growth potential going forward. Relative to other names in this space, ENJ has been relatively quiet so far.”
In other trending Bitcoin News today:
Netflix ‘might’ be next Fortune 100 firm to buy Bitcoin – Tim Draper
Netflix may just be the next Fortune 100 company to buy Bitcoin (BTC) and Amazon will have to accept it, says billionaire Tim Draper.
In an appearance on the Unstoppable Podcast on Feb. 28, the serial investor and hodler forecast that out of all possible candidates, Netflix is his pick for putting BTC on its balance sheet.
“You know who it might be? Netflix,” he said.
“I think Reed Hastings is a very innovative guy and has a lot of creative thinking and I think he still controls the reins at Netflix and so I think that might be the next big one to fall.”
The prediction comes as telltale signs of institutional buy-ins continue to surface at current prices, with $48,000 seeing multiple large transactions at Coinbase Pro over the past week. Classic buyers MicroStrategy and Square both added to their positions.
Ever the optimist, Draper also considered that Amazon would add a direct Bitcoin payment option in future.
“Amazon will probably start accepting Bitcoin pretty soon,” he said, noting that consumers have been able to buy products indirectly using cryptocurrency for many years.
Amazon added Ethereum availability to its Managed Blockchain this week.
Bitcoin itself meanwhile saw a change in fortunes on Wednesday, exiting the $40,000 corridor to hit highs of $52,593 — the most since Feb. 25.
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Trezor: ► http://trezor.cryptonewsalerts.net
Ledger: ► http://ledger.cryptonewsalerts.net
DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Let me help Peter. Gold is hyped as much as Crypto. Do we really need gold jewelry? Gold can make you a ring. BTC/Eth are technologies that can make you a banker, allow friction free exchange of value and are extensible into an unlimited range of biz and personal applications https://t.co/pJPdEAl5gq
— Mark Cuban (@mcuban) March 2, 2021
https://cointelegraph.com/news/netflix-might-be-next-fortune-100-firm-to-buy-bitcoin-tim-draper
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