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Bitcoin Price | Brian Kelly Tells CNBC Watch for Rising Price

Bitcoin enthusiast and crypto fund manager Brian Kelly has told CNBC that Bitcoin price could rise further in the coming months.

His prediction isn’t unfounded; there is an impending supply cut on the horizon and this should help to push prices higher.

Brian Kelly Predicts Bitcoin Price will Rise

In an interview on CNBC’s Fast Money program yesterday, May 21st, Kelly explained that “the halvening,” which is due to take place in 2020, will cut mining rewards in half.

As such, he expects miners to begin hoarding BTC if they aren’t already doing so. This increased demand should see Bitcoin price rise as the supply becomes lessened.

Further, the coin is being spurred on by increased industrial adoption and use in retail.

Kelly described the four-year cycle that leads up to “the halvening,” saying:

“You generally have a rally a year into it, and a year out of it. And so we’re just at the beginning of that stage […] a supply cut is generally bullish.”

The fund manager goes on to say that investors should dedicate between 1% to 5% of their portfolio to cryptocurrency while prices remain stagnated around the current levels of $7,900.

Brian Kelly Predictions

Kelly has been a guest on Fast Money several times where he has made predictions for the future of Bitcoin and cryptocurrency.

Recently, the crypto-analyst stated that an approval for a Bitcoin Exchange-traded fund (ETF) was most likely to come in February 2019. We are still waiting on that one, however.

Other analysts believe there are several reasons for BTC’s recent surge. One idea suggests the United States and China trade war could be a reason. Another impetus could be the increased adoption of the mainstream. For example, Ebay recently caused a stir when photos of its banners at the Consensus conference in New York, leaked onto the web.

Saying: “Virtual Currency. it’s happening on Ebay”, the banners made many believe that the e-retailing giant is about to enter the cryptocurrency space. Ebay has yet to confirm anything, however.

Featured Image: Deposit Photos/stevanovicigor

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Bitcoin SV

Bitcoin SV Soars 80% | Wright Files “Proof” That He’s Nakamoto

The top ten cryptocurrencies are all in green boasting moderate gains. For example, Ethereum is up 2% and Bitcoin Cash up 4.38%. Leading coin by market value, Bitcoin, is 1.75% in the green, nearing $8,000 USD per coin—much to the excitement of the bulls. However, its hard to ignore the not-so-moderate gains that Bitcoin SV is sporting just outside the top ten.

In eleventh place in terms of market cap, the hard-fork of a hard-fork is up a whopping 79.57%.

The rise is attributed to Bitcoin SV’s founder, Craig Wright, and a poignant move he just made to “prove” he is Satoshi Nakamoto—the original Bitcoin creator.

Bitcoin SV Is Up 80%

Earlier today the controversial figure filed copyright registrations for the Bitcoin whitepaper and the early Bitcoin code with the US Copyright Office.

But his move has already been lambasted, with many in the community considering another fraudulent claim.

For example, Jerry Brito of CoinCenter, pointed out on Twitter, that anyone can register a copyright claim. Doing so still isn’t proof of ownership and neither is recognition by the US Copyright Office itself.

He goes on to say:

The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately there is no official way to challenge a registration. If there are competing claims, the Office will just register all of them.

Wright has been claiming since 2015 that he is the creator of the world’s largest cryptocurrency. He has, however, been continuously unable to provide hard evidence that confirms it.

As such, he has been slammed across the industry with names such as “fraud” and “Faketoshi”. In response, he has launched a series of lawsuits against those who have doubted him or publicly denied his claims.

However, this caused further industry backlash and led Binance CEO Changpeng Zhao to delist Bitcoin SV from his exchange platform.

Industry Speculation

The debacle will continue and all the while, we still remain unsure who is the real person or persons behind the pseudonym, Satoshi Nakamoto.

>>Bitcoin Price Jumps Again, Now Above $8K Mark

Is he telling the truth? Who could possibly know?

What do you think about Wright’s filing? Do you believe him? Are you shocked to see Bitcoin SV up 80% in response?

Featured Image: Deposit Photos/Afotoeu

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Mainstream adoption

Cryptocurrency Mainstream Adoption | Is Ebay the Answer?

Are we on the verge of mainstream adoption for digital currencies? The list of companies accepting payment in Bitcoin is steadily growing and now one of the biggest e-commerce sites is hinting at joining that list. Global e-retailing giant, Ebay, has stirred rumors via its latest promotional adverts.

Let’s check this out.

Mainstream Adoption – Ebay to Support Digital Assets?

At the Consensus conference in New York, Ebay’s banners suggested the company is about to enter the cryptocurrency space.

In a photo leaked on Telegram channel @PatronsOfTheMoon, the two banners read the following:

“Virtual Currency. it’s happening on Ebay”.

And:

“Reach 179 million active buyers in the world’s largest marketplace”

The photos have caused a stir, because if eBay is readying support for virtual currencies then it would be a major breakthrough for mainstream adoption. Bitcoin would be opened up to a network of potentially 180 million buyers.

Captured by @PatronsOfTheMoon

But don’t get too excited just yet. The company has yet to confirm that the posters are legitimate and hasn’t made any official statement regarding its cryptocurrency plans.

Other Mainstream Adoption

Ebay isn’t the only major brand hinting at mainstream adoption. Elsewhere, a new initiative is aiming to make big name retailers such as Crate and Barrel, Nordstrom, and Amazon’s Whole Foods, accept Bitcoin and three other types of digital currency.

The initiative comes from a partnership between payments startup, Flexa, and Gemini crypto-exchange. The pair have created a cryptocurrency payments app called Spedn.

The app is already active and works by “piggy-backing on the digital scanners that many big retailers use to accept phone-based payments from their apps and from digital wallets like Apple Pay”.

>>uBUCK Technologies Announces Strategic Partnership With U.S. Prepaid Platform PreWay

The partnership has asked various major retailers to “configure their scanners to recognize payments” from the Spedn app. Then a customer simply pays with the app and the merchant will receive a real-time payment in the form of the customers choosing—either cryptocurreny of dollars.

The app holds support for Bitcoin, Bitcoin Cash, Ethereum and, the Gemini Dollar stablecoin. Currently, the app is still under experiment by the retailers that are using it. As such, it remains to be seen if it will be a success.

The volatility of Bitcoin and the risk of hacking, has always been a major issue that has culled mainstream involvement. But might Spedn work? What do you think? Is mainstream adoption on the horizon?

Featured Image: Deposit Photos/hello.artmagination.com

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Bitcoin Price

Bitcoin Price | Price Jumps Above $8K Mark Again

Back in 2017, Bitcoin was the biggest news story of the year after it went on a jaw-dropping bull run and reached a price of $20,000 per coin. However, from those heady highs, the bitcoin price soon started dropping and throughout the course of 2018, Bitcoin and the crypto market at large were on a bit of a tailspin.

However, 2019 has been a different kind of year for Bitcoin as the price continued to surge from one month to the next and as of Tuesday morning, bitcoin price reached an $8,000 mark. It is the culmination of a brilliant year so far and is the highest price it has reached since July last year.

Solid Rally

Throughout 2019, Bitcoin price jumped at a conservative pace, but by the end of April and the beginning of May, the price started climbing at a breakneck pace as talk of another monstrous bull run started circulating in the crypto space. On Monday Bitcoin price surged to $8000 but one some exchanges it reached higher prices as well. For instance, on Bitstamp, it reached a price of $8,131, which reflects a 24 hours rise of a massive 17%.

However, the reasons for optimism this time are different. There is a big possibility that significant institutional capital could not put into Bitcoin. Fidelity is all set to open its crypto offering in which big institutional investors are going to be able to buy Bitcoin and in addition to that, widespread institutional interest is being shown for the cryptocurrency.

Is the Bitcoin Price Sustainable?

Despite the current optimism surrounding Bitcoin, the big question remains whether this rally is going to sustain and whether the cryptocurrency the same heights that it did before. In that regard, it must be said that experts are not yet sure whether this rally is going to hold and some have even gone on to state that they are not yet sure whether this can even be called a bull run or not.

That being said, some big moves are currently being made by large Bitcoin holders, who are often referred to as ‘whales’. Single transactions worth hundreds of millions of dollars are taking place between large Bitcoin holders and while it may be a sign of an impending bull run, it could also be a case of bitcoin price manipulation.

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bitcoin price

Bitcoin Price to Hit $7,200 After Demonstrating Bullish Signs?

Yesterday crypto markets dropped following reports that leading cryptocurrency exchange Binance had been hacked. However, the impact of the developments is minimal, and Bitcoin price managed to hold steady at more than $5,800, continuing the upwards trend towards the $6,000 mark.

BTC Holds Above $5,800

A popular analyst has projected that if BTC continues with the upward momentum, its price could soon hit $7,000—a definitive sign that the bullish run has already begun. Currently, Bitcoin price is up marginally at $5,980 after the daily low of $5,800 occurred moments before the Binance hack news was announced.

Because the hack was limited and Binance quickly reimbursed all accounts affected, Bitcoin price didn’t suffer too much from the news of the hack. In the past week, BTC has been on an upward momentum from lows of $5,400, and it only dropped slightly following the news from its weekly high of $6,000 that was set yesterday.

Analysts consider the muted reaction of Bitcoin price to the Binance hacking news and the recent Bitfinex and Tether fiasco as a bullish sign, sentiments that are equally shared by many investors and traders.

>> Joseph Stiglitz Thinks We Should Ban Cryptocurrencies

Bitcoin Continues to Show Bullish Signs

In a tweet, popular cryptocurrency analyst, UB, indicated that he expects Bitcoin price to continue increasing because it has managed to maintain its position at $5,850 despite dropping yesterday. He explained that this drop occurred just before setting new highs and the sooner $5,850 is reclaimed, the better.

Analysts seem to be decisive with the bullish run demonstrated by Bitcoin over the short-term, but it is equally expected to continue in the long-run. One analyst believes that the break of BTC above its 100-week moving average is a sign that Bitcoin price is likely to jump to $7,200 in the near future.

Bitcoin price is expected to continue establishing its foothold in the upper $5,000 region, and it’s only a matter of time before the next bull run.

Featured image: DepositPhotos © aa-w

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