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Bitcoin rate by the end of 2020 can not be lower than $ 1,000,000, the forecast of John McAfee

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According to John McAfee, by 2020 the price of Bitcoin cryptocurrency (BTC) can not be below $ 1,000,000.

A British-American cybersecurity expert called basic mathematics his only metric explaining the six-digit bitcoin prediction.

He stated that Bitcoin’s behavioral economics is fundamentally different from the equity economy, its paradigms and formulas are not suitable for calculating the future value of a coin.

Oddly enough, McAfee did not tell on which mathematical formulas he was based on in his predictions. Probably, he calculates the real cost of Bitcoin based on its cost ( mining BTC ), as well as the total number of users and transactions in the network.

McAfee stressed that Bitcoin is not a speculative investment, but a tool that provides a payment protocol that works without the participation of banks.

McAfee’s mathematical metric resembles the fiat system. The US dollar is valuable because people trust the regulator who controls the cost. The more support Benjamin will have, the more he will need it.

In the case of bitcoins, the issue is different. Instead of printing an infinite number of dollar bills, the protocol sets a predetermined limit of 21 million units, the production of which is distributed among thousands of miners .

As a result, we have a protocol that transfers funds faster and cheaper than any bank. In addition, it also manages the recording of each bitcoin transaction without the involvement of intermediaries.

“People will start using bitcoins for payments, ” he added.

They will stop using the US dollar, the euro, the Chinese yuan, which in the long run will depreciate these currencies. ”

Why exactly by 2020? Here Makafi did not give explanations. It turns out that in order to fulfill its forecast, the current rate from about $ 5000 should increase by 19,900%. This means that the expected average annual Bitcoin growth rate will be about 9,950% and by the end of 2019 the cryptocurrency should at least test the level of $ 497,500.

Even if the price approaches $ 500,000 this year, the probability of a negative correction will be close to the historical maximum. In addition, against the background of a relatively slow adoption, the price of Bitcoin can be artificially inflated, just as it did in December 2017, in other words, the popularization and growth of cryptocurrency is only on hand.

Publication date 17/04/2019
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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)
$9,172.00
-0.29%
Ethereum (ETH)
$268.85
-0.25%
XRP (XRP)
$0.434891
-1.65%
Bitcoin Cash (BCH)
$416.95
-0.71%
EOS (EOS)
$6.91
-0.82%
Stellar (XLM)
$0.126012
-1.11%
Litecoin (LTC)
$138.08
5.23%
Cardano (ADA)
$0.091388
1.13%
Tether (USDT)
$1.00
-0.08%
Monero (XMR)
$100.07
2.69%
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