According to logarithmic analysis by analyst Benjamin Cowen, by 2023, the capitalization of the cryptocurrency market could exceed $ 11 trillion.
Cowen collected weekly data on the price movements of Bitcoin and other cryptocurrencies, and tried to identify a trend based on price correlations. He said that in the future, another "cryptocurrency bubble" awaits the industry, and the growth of the total market capitalization can reach up to 150 times.
Former Wall Street trader and cryptocurrency analyst Tony Vays called Tim Draper's prediction that Bitcoin's price rise to $ 250,000 by 2023 "irresponsible."
In May of this year, cryptocurrency enthusiast Tim Draper predicted that Bitcoin would rise to $ 250,000 by 2023, and the first cryptocurrency would occupy 5% of the global economy. However, according to Vays, this is an "irresponsible forecast."
Iranian President Hassan Rouhani proposed creating a cryptocurrency that would be used in Islamic countries as an alternative to the US dollar.
At a conference in Malaysia, Rouhani stated that Islamic countries need to strengthen financial cooperation to counter the "financial hegemony of the United States." He called the US economic sanctions "the main tool for establishing its hegemony and mockery of other nations."
Yesterday, analysts and traders said that the rate of the first cryptocurrency would drop to $ 5,500, but on December 18, Bitcoin pushed off support for $ 6,400 and soared to $ 7,400.
Although many believe that it is too early to draw conclusions, there is a possibility of continued growth. One of these signs is a bullish candle on the chart, usually indicating a change in trend, and also confirming the presence of discrepancies between the RSI and MACD indicators.
The famous American economist and trader Nassim Taleb remains optimistic about cryptocurrencies and believes that Bitcoin "wins" in comparison with state currencies.
Taleb said that citizens of some countries, such as Lebanon, "lost faith" in state banking systems, so no one should ignore cryptocurrencies, as well as the history of Bitcoin and blockchain.
According to the president of Fidelity Digital Assets (FDAS), Tom Jessop, the cryptocurrency industry is only developing, so the closure of some companies and funds is natural.
Jessop expressed his opinion in the podcast The Scoop, commenting on a recent study by Crypto Fund Research, according to which a significant number of cryptocurrency investment funds closed this year. The president of FDAS believes that this situation resembles the development of the Internet startup market.
According to Dan Morehead, CEO of Pantera Capital, an investment company, Bitcoin has every chance of transforming up to 50 industries.
Morehead emphasized that in the near future, Bitcoin and blockchain will be able to change such traditional tools as voting systems, international money transfer systems, electronic money transfers, identification systems and so on.
On Saturday, the Bitcoin exchange rate fell by $ 150 and is now at $ 7,150. Analysts believe that the first cryptocurrency needs to cross the $ 7,300 mark to continue to grow.
According to the Bollinger indicator - a price prediction model based on a 20-day moving average - volatility should return to cryptocurrency markets soon.
Cryptocurrency enthusiast and researcher from America Alex Thorn discovered that the number of active addresses with a non-zero BTC balance was 28.39 million, and this is a new record.
The previous record was set back in January 2018. According to Thorn, this indicator is well suited to determine the total number of users of the first cryptocurrency. Although here you need to understand some subtleties.
According to a new study by Deutsche Bank, by 2030 the demand for alternative currencies will increase significantly, which will lead to the disappearance of fiat currencies.
In the Imagine 2030 report, Jim Reid, head of Deutsche Bank's Global Fundamental Credit Strategy, recalled the problems that the current monetary system has faced in recent years. He said that the increased demand for intangible assets and their anonymity will attract more people to digital currencies.
Anthony Pompliano, a well-known Bitcoin fan and founder of Morgan Creek, said that Bitcoin is not an investment, but a peaceful protest against a system that can change the world.
With his publication, he addresses all users. According to him, they can be divided into two types: some act as mercenaries and others as missionaries. Pompliano describes both categories.
Over the past week, reports began to appear on the network about problems with the withdrawal of funds on the IDAX cryptocurrency exchange. As it turned out, most of them were confirmed.
Yesterday morning, the company issued an "urgent notice" in which it informed that the site's general manager had "disappeared", and, accordingly, access to the cold wallet, which contains almost all of the cryptocurrency, was lost. Because of this, the process of depositing and withdrawing funds had to be suspended.
The CEO of Twitter and cryptocurrency enthusiast Jack Dorsey believes that Africa will determine the future of the cryptocurrency industry.
According to Dorsey, despite the development and adoption of cryptocurrencies in Europe and America, it is Africa that will become the head of the industry. After his tour of Nigeria and Ghana, Dorsey said that the African continent is developing rapidly, but is still very poor and this will be one of the main reasons for the adoption of Bitcoin and other cryptocurrencies.
The most anticipated event of the cryptocurrency industry in 2020 is the halving of the Bitcoin miners award (halving). Many associate with him a new growth cycle of the cryptocurrency market.
In the traditional economic system, the Central Bank regulates the exchange rate of the national currency, which, if necessary, can saturate the economy with money or withdraw it from circulation. There are various tools for this: currency intervention, a quantitative easing program, raising or lowering interest rates on loans and deposits for commercial banks and other methods. They allow the Central Bank to contain or increase inflation and, in general, influence the economic situation in the country.
According to CoinATMRadar, the number of active crypto ATMs worldwide has exceeded 6,000 for the first time. Of these, three quarters of the devices are located in the United States and Canada.
According to recent data, there are currently 6,004 crypto ATMs installed in the world, more than 65% of which are located in the United States. In addition, 108 devices were installed this month, and data also shows that on average around 11 new crypto ATMs are installed daily in the world.
American entrepreneur and cryptocurrency enthusiast John McAfee believes that cryptocurrency firms are not required to prevent the use of crypto assets for crime.
Washington D.C.-based news agency The Hill reports that although McAfee himself is concerned about the use of cryptocurrencies in illegal activities, he believes that cryptocurrency exchanges and companies should not monitor suspicious activity.According to the director of cryptocurrency exchange Binance, Changpeng Zhao, the platform plans to add support for all 180 fiat currencies of the World.
According to Zhao, Binance intends to provide customers with "direct access to the great liquidity" available on the exchange. This statement discloses the exchange's plans for cooperation with third-party services to add as many trading pairs with fiat currencies as possible.
Ethereum co-founder and CEO of Consensys Joseph Lubin hopes that China's state-owned cryptocurrency will be compatible with open blockchains, including Ethereum.
Lubin expressed his opinion during an interview with Forbes, published on November 9.
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