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6 reasons for the growth of cryptocurrency until the end of 2018

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The first digital currency traded in a narrow range for a long time, and over the last week not only showed a sharp decline, but also reached annual minimums. At this cost, Bitcoin is 4,666 US dollars.  

It is expected that many investors were panicked and began to withdraw their savings in a hurry. But do not forget the already proven fact that the cryptocurrency market is manipulated. This is understood by those traders who have dealt with the nuances of the cryptocurrency market and, in particular, with blockchain technology.  

Many experts are confident that such a bearish trend will relieve the market of newcomers, leaving only pioneers who are not so easily influenced. Anthony Pompiano, who is the founder of the venture capital firm Morgan Creek, said:

The current situation on the market will lead to the fact that many cryptocurrency funds, as well as ICO-startups just shut down. But this situation is quite normal, because a long bearish trend will clear the market of so-called "tourists", leaving only real entrepreneurs who will create sustainable value.  

But when will this bear market end? What events can be a catalyst for digital asset growth? To do this, you need to study the most current news in the field of blockchain, because significant events always affect the value of assets.  

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Bakkt launch

The first thing you need to pay attention to is the launch of the Bakkt cryptocurrency platform, which will be held on 12/12/2018.  

Krypto experts are confident that the Bakkt Exchange will be a global breakthrough in the world of digital assets, because it will provide Bitcoin futures trading with physical delivery, without margin services.  

Audit Tether (USDT)

Recently, the company Tether Limited published the results of an audit that showed the degree of security of the foundation of their digital asset USDT.  

“Bitcoin is property”  

That is how the first currency was designated by the Shenzhen Court of Arbitration. Officially, Bitcoin trading is banned in China, but this asset is considered and protected as “property”. This fact clearly indicates the interest of China in the cryptocurrency market. Perhaps next year, the authorities will react even more loyally to digital assets and lift the ban on trading.  

Temasek holding invests in the Binance cryptocurrency exchange

The Singapore government, through its investment company Temasek, invested in the well-known cryptocurrency exchange Binance.  

Stablecoin USDC at Coinbase

A stable USDC coin has been added to the Coinbase cryptocurrency exchange with the support of Goldman Sachs. It should be noted that this stablecoin was most actively traded on the Poloniex exchange, which was acquired by Circle in February 2018.

The conclusion suggests itself that it is clearly for some reason that some of the most influential bankers in the world have created their own consistently coin, as well as the leading cryptocurrency exchanges.  

Launch of EOSfinex and TON platforms

The launch of the EOSfinex and TON platforms is scheduled for the end of 2018. Of course, such events should occur at a favorable time. But experts are confident that large developers themselves create the right moments. Therefore, it is possible that the market situation will change closer to the launch of projects.

Considering all the above-mentioned events, we can say that digital assets have a real chance to grow by the end of this year. Profitgid will monitor the situation and keep you updated on the latest developments in the cryptocurrency market!  

Leave your comments below!  

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Bitcoin rate will grow from $ 16,000 to $ 62,000 by the end of 2019, analysts' forecasts

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Strengthening the position of Bitcoin creates the conditions for the emergence of more aggressive forecasts regarding the future dynamics of the movement of the coin.

Back in January, one of the analysts who wished to remain anonymous, successfully predicted the trajectory of Bitcoin from April to July. He said that BTC would first overcome the $ 5,300 mark, and by the middle of summer it would trade at $ 9,200 and was right.

In addition, the analyst predicted a cryptocurrency breakthrough to $ 16,000 by October 2019 and announced the continuation of a positive trend throughout the whole next year.

However, in social networks from traders sound more aggressive statements about the prospects of the coin. One of the optimists, a trader under the nickname Galaxy, posted a tweet post in which he announced a bitcoin jerk to $ 62,000 by the end of October.

The forecast is initially perceived as fiction, but if you read the post of the analyst, then you can believe in it.

Galaxy said that in 2017 we observed a similar trend, which resulted in a 570% rise in Bitcoin over 147 days. If we take as a basis the schedule of the course of the two-year-old asset and project it on the current situation, then we can expect an increase in the price of Bitcoin to $ 62,000 by the end of October.

Many Twitter users find the trader’s forecast to be more or less realistic, but they doubt the possibility of such an aggressive jerk of the coin. But there are those who say that such forecasts are not based on anything, and publishing them on the network only aims to increase the number of subscribers.

Publication date 19/06/2019
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Tom Lee: over the next months, the BTC rate will increase by 4 times

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Bitcoin bull Tom Lee believes that the flagship cryptocurrency is close to the FOMO rally, with the result that the value of the coin can rise to $ 40,000 over the next few months.

Tom Lee, head of Fundstrat Global Advisors, noted that the Bitcoin cryptocurrency rate is close to $ 10,000, which could serve as a trigger for the FOMO. Lee refers to the events that occurred at the end of 2017, when the price of BTC, approaching the level of $ 10,000, increased in two days to $ 20,000.

On Monday, the BTC rate overcame the $ 9,000 mark, and after the Libra crypto-project from Facebook was introduced, the cost rose to $ 9,200. It is assumed that the Libra project is proof for society that cryptocurrencies are becoming increasingly popular, large companies, including financial ones, are particularly interested in them. Lee also noted that on the same day, the value of GRAYSCALE BITCOIN TRUST (GBTC) shares rose by 11%, reaching $ 12, which was not observed since July 2018.

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The launch date of the new Ethereum 2.0 blockchain algorithm has become known – January 3, 2020

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Developer Justin Drake (Justin Drake), according to Trustnodes , called the date of transition of the Ethereum network to the second version of the protocol and the introduction of the consensus mechanism Proof of Stake (PoS). According to him, Ethereum 2.0 will become a reality in seven months – January 3, 2020, exactly 11 years after the extraction of the genesis-block of Bitcoin .

Drake also said that the developers of Ethereum for less than two weeks – until June 30 – should finalize and approve the specifications of the zero phase. Before generating the genesis block, they will have to launch a deposit contract for the accrual of funds to validators – and present it at the Devcon conference in Japan in October.

Thus, according to Drake, over the next three months, developers should collect at least 2 million ETH, and in seven months, bring the product to a “production stage”, that is, a test network that has been working for quite a long time without significant flaws and has passed a security audit, for at least two customers.

Recall that the founder of Messari, Ryan Selkis (Ryan Selkis), expects that the transition of Ethereum to the second version of the protocol will take place no earlier than 2021. In early May, Prestmatic Labs co-founder Preston Van Loon announced the public launch of a test network for Ethereum 2.0 – Sapphire – created on the basis of the Casper protocol with PoS consensus algorithm and support for stacking.

Publication date 18.06.2019
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Name Price24H (%)
Bitcoin (BTC)
$9,123.00
-1.00%
Ethereum (ETH)
$267.65
-0.68%
XRP (XRP)
$0.433437
-1.62%
Bitcoin Cash (BCH)
$415.40
-1.13%
EOS (EOS)
$6.87
-1.53%
Stellar (XLM)
$0.125262
-1.73%
Litecoin (LTC)
$137.10
4.30%
Cardano (ADA)
$0.091045
0.52%
Tether (USDT)
$1.00
-0.13%
Monero (XMR)
$99.82
1.99%
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