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Bitcoin Quarterly Gains Climb To 2nd Best: New All Time High Could Come

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The Bitcoin quarterly gains have been reviewed by many best cryptocurrency news sites. As of yesterday, its levels have skyrocketed to second best over the past five years, which may be a solid indicator that a new all-time high is on its way.

If Bitcoin remains above $8,000 by the end of June, the price may revisit new highs and increase even more. As it is right now, the Bitcoin quarterly gains show that BTC has increased from $4,100 to $8,000 in about a month and a half (since April 1st). The two-fold increase against the US dollar has been reported daily in our latest cryptocurrency news sections.

After visiting the lowest point in December 2018, Bitcoin was down about 85% from its all-time high at $20,000. However, the price of BTC rose and the most dominant cryptocurrency has formed a powerful recovery in the second quarter of 2019 which led to the powerful Bitcoin quarterly gains.

So far, the price trend of Bitcoin closely resembles the movement of 2017 which was a year in which Bitcoin demonstrated its strongest bull market as it surpassed $20,000 in key markets such as South Korea and other territories. Similarly, Bitcoin began 2017 with a large 40% quarterly gain which was followed by an explosive 80% gain in the second quarter, ending the fourth quarter with gains of 219%.

The most dominant cryptocurrency was also able to sustain its momentum throughout 2017 and achieve a new all time high due to the sudden spike in interest. If the Bitcoin quarterly gains over the next month collide, we could be seeing great price action – and possibly a new Bitcoin high.

According to industry executives and analysts, a new rally of crypto assets is likely to be led by institutional investors and strategists. Previously, people like these stated that they may have been overly optimistic on the entrance of institutional investors in the past few years.

According to Fidelity Digital Assets and their report, the inflow of capital from institutions to crypto may rise over the next five years (potentially increasing the Bitcoin quarterly gains too):

“Almost half of the institutional investors surveyed (47%) view digital assets as having a place in their investment portfolios, but opinions vary on how these investors would prefer to hold digital assets in the future. Across all institutional segments, when considering a custodian for digital assets, 76% of institutions surveyed placed security and safety as their most important considerations,” the report read.

In the altcoin news, the Bitcoin rally triggered a lot of altcoins to mimic it and post strong gains.

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Bitcoin ATM Network Coinme Raises New Funding From Xpring

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Bitcoin ATM Network Coinme, which provides kiosks and ATMs for digital currencies, managed to raise up to $1.5 million in Series-A-1 financing from Ripple’s subsidiary xSpring and Blockchain Finance Fund as per the reports from the company which we are about to read more about in the coming altcoin news. The proceeds from the funding will be used to the further licensing procedures which aim to expand its US and international coverage. The Co-founder and CEO Neil Bergquist explained that Coinme is licensed to operate Bitcoin ATMs in the 29 states that will apply for further state licenses in the near future. As for the international markets, Coinme set their eyes on Europe and Central America because of the high popularity of cryptocurrencies in the countries. xSpring is Ripple’s developer initiative that mainly focuses on its investments in blockchain technology companies and this is the first investment of the company in the bitcoin ATM industry. Bergquist stated that Coinme raised $4.5 million in total in the previous financing round including the $3.5 million in convertible debt mainly from Coinstar over the past few years and another $1.5 million from the venture fund back in 2017. The Bitcoin ATM Network Coinmae has more than 2,500 locations and provides services as the largest bitcoin kiosk network in the world. Coinme began as a bitcoin exchange in 2014 and integrated its services with the coin-to-cash machines in January. The kiosks allow the customers to exchange bills and coins for a certain code that is sent to their mobile device which can be used to redeem up to $2,500 of crypto. The partnership was announced at the beginning of this year with the kiosks mainly getting placed in public venues. The crypto kiosks and Bitcoin ATMs have grown in popularity as the coin use proliferates. The data from Coin ATM Radar shows that there was a more than five-fold increase in the number of active crypto ATM installations since 2017. Outside of the kiosks, Coinme provides concierge trading and some high-volume transactions for institutional investors. Bergquist also pointed out that one of the services that the company provides is the white-gloved transaction option for high-net-worth individuals with a minimum investment of $5,000 as per the reports in the latest cryptocurrency news.
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High Inflation Figures Explain Why ‘’Bitcoin Is King’’ Above Others

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The high inflation figures that we get from the latest analysis show that XRP and ZEC clearly show why ‘’Bitcoin is King’’ above other altcoins. Let’s read some more details in the coming altcoin news below. According to the tweets on Friday, the crypto and economic analyst Alex Kruger pointed out that the relationship between the high inflation figures and poor price performance of some of the altcoins. Kruger explained that he based his statement on the figures that were published on ViewBAse which is a platform that provides information on ‘’coin dumps.’’ Whether by fluctuating schedules and fixed schedules, the altcoins such as XRP and ZEC are showing significantly higher inflation figures. ZEC, for example, has an inflation rate of more than 35 percent. More than 7,000 ZEC tokens are ‘minted’ per day and this figure amounts to about 0.098% dilution of the circulating supply which is much higher than other cryptos with daily coin additions. Zcash even disclosed an inflation bug earlier this year that was capable of creating an infinite number of tokens. Regarding fixed inflation, Ripple releases 1 billion XRP every quarter. XRP has an annualized inflation of more than 30 percent. As previously reported, some of the XRP proponents have expressed huge displeasure with the constant dumping of the token. Also, earlier this week the company transferred more than 100 million XRP to the former CTO Jed McCaleb and immediately spiked fears of a massive sell-off. For bitcoin, this situation is slightly different. The top-ranked cryptocurrency has an inflation rate of 3.97%. After the 2020 halving event, the figure will be split in two and will take the inflation rate of bitcoin even lower than the current interest rate by the Federal Reserve. Compared to the Bitcoin’s inflation figures, the altcoins such as ZEC and XRP seem like coins whose value is constantly declining. Bitcoin is up by more than 170% since the year started while XRP and ZEC moved over 25 percent in the opposite direction as we saw in the latest cryptocurrency news. In the meantime, the commentators are calling for a new all-time high for Bitcoin before the year ends.
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Bobby Lee Bitcoin Price Prediction: BTC Could Reach $200K Very Soon

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Bobby Lee, the BTCC co-founder stated that the price of the number one cryptocurrency could reach $200,000 in a very short time as we are reading in the altcoin news today. While speaking to the Yahoo Finance UK, the founder of the first bitcoin exchange platform in China Bobby Lee declared that the bitcoin price will continue to reach greater heights and according to him we can read that:
‘’We are in one of many, many cycles to come. Any cycle will take us to higher and higher heights. I’m quite confident sitting on my bitcoin investment that in a very short amount of time we’ll exceed $20,000 and go to $50,000, $100,000, even $200,000.’’
Bobby Lee, however, provided some more context to the timeline for the actualization of this prediction putting it anywhere from up to a few weeks to a few years. His prediction about the cyclical periods in the bitcoin price action is reached by a growing consensus of commentators on the issue. The Veteran trader Peter Brandt has previously hinted that the bitcoin price has already entered another period of parabolic price growth. The number one cryptocurrency has increased by more than 2.7 percent since the year started and it almost eclipsed $14,000. The price of Bitcoin, however, hit a few swings in Q3 2019 but it is currently trying to maintain a level above the $10,000 price level. Apart from the positive price performance, the bitcoin network is going through some significant growth in the fundamentals such as hash rate. The total computing power of Bitcoin appears to have set an even reach to the 100 quintillion hashes per second milestone. When he returned to the crypto scene, Bobby Lee stated that he wanted to offer a suitable solution to the cryptocurrency storage problem.  As it was reported previously in the latest cryptocurrency news, Lee’s new crypto business Ballet is building an ‘’un-hackable’’ bitcoin wallet and the startup has raised more than $5 million in seed funding from the investors including giants such as Rabbit Capital and Coinbase. Back in 2017, the Chinese authorities placed a ban on cryptocurrency trading and initial coin offerings. The move forced many exchanges to relocate away from the country.
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Watford Football Club To Feature Bitcoin Logo On Its Jerseys

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The latest cryptocurrency news are tied to Premier League football and Watford Football Club which recently expanded its sponsorship deal with Sportsbet.io, which includes getting the Bitcoin logo branded on the sleeves of the club's official jerseys. As the news showed, the move is meant to create wider exposure for Bitcoin among the fans and general public, too. It seems like Bitcoin and cryptocurrency are in general getting more widespread adoption. Watford Football club is a proof for that and the adoption of BTC in the sports industry. Over time, sports clubs have collaborated with the nascent industry and helped boost the cryptocurrency as a means of payment for their merchandise, tickets, etc. Even though Bitcoin is still a long way away from getting mainstream acceptance mostly because of the volatility and risk, the partnership deals with some major industries show that more and more sectors are starting to recognize the benefits of the most dominant cryptocurrency. The latest Bitcoin and altcoin news show that Watford Football club is one of them. The sleeves of the Watford FC featuring Bitcoin are designed to create awareness. As Watford Football Club announced on its website on Thursday (September 12), part of the sponsorship deal with Sportsbet.io was featuring the Bitcoin logo appearing on the club's shirt sleeves. The Hornets (as the club's players are called) would have the "B" logo for Bitocin on their sleeves starting this Sunday in the match against Arsenal FC. As the deal shows, the Bitcoin logo would be kept on the jersey's sleeve throughout the remainder of the 2019/2020 EPL season.
“Our partnership with Watford marks a major disruption in the world of traditional sports sponsorship, and by adding the Bitcoin logo we hope this world’s first partnership will create even more buzz around cryptocurrencies,” the head of marketing at Watford Football Club named Justin Le Brocque confirmed.
Lr Brocque also noted that enlightening the public on the benefits of the cryptocurrency and dismissing the common negativity and FUD surrounding virtual currency was sometimes challenging. However, as many best cryptocurrency news sites reported, in addition to the Bitcoin logo is a wider campaign pushed by Watford Football Club - to create more awareness about cryptocurrency and its numerous advantages and uses.
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