According to the ThinkMarkets analyst named Naeem Aslam, Bitcoin has a massive potential to hit somewhere between $60,000 and $100,000 during the next bull run. Aslam’s statement was everywhere in the latest cryptocurrency news and first emerged in a Fox Business interview on June 24.
For those of you who haven’t been following our cryptocurrency news site, Aslam has been already featured for predicting a $10,000 Bitcoin price on June 17 – something which turned to be real past week. He then cited the institutional investment as a major driver for the BTC rally. However, the ThinkMarkets analyst is now again viral on many best cryptocurrency news sites for a new Bitcoin price estimate.
According to Aslam, the next mark for Bitcoin to reach is the $20,000 one – after which $50,000 will follow. The ThinkMarkets analyst is sure that by hitting $20,000, Bitcoin will move the discussion away from conservative estimates exceeding the number one cryptocurrency and its all-tme high to forecasts of $50,000. From there, as he said, breaking $50,000 will move the price target to $100,000.
Aslam also talked about the use of Bitcoin as a means to avoid risk, comparing the dominant cryptocurrency – often known as “digital gold” – with actual gold. He remarked that in the last two months, there has been a huge spike in price for the two assets which he attributed to lack of confidence in the stock market as well as the US and China trade war.
The altcoin news also show the ThinkMarkets analyst talking about a potential war in the Middle East as the biggest driver of recent growth in the diversifying assets. He said that BTC now has a reputation as a safe haven for storing wealth and said that there is evidence of investors “parking” their capital in the leading cryptocurrency.
Naeem Aslam has been right about Bitcoin reaching $10,000 which is why his statements are more than just plain predictions right now.
As we previously shared on our site, the Bitcoin podcast host Trace Mayer already said that the BTC price will likely close at $21,000 this year (based on current factors and the trajectory that BTC has right now). He also used his own ‘Mayer Multiple’ price indicator as an equation that involves dividing the current BTC price by its 200-day moving average.
Bitcoin Retests The $11,000 Range Holding A Strong Low Volume
Bakkt BTC Futures Reached “Critical Mass” And Expected To Launch Soon
"We think #Bakkt could be a huge catalyst for institutional participation in the #crypto market. Here are our takeaways from the Bakkt institutional summit yesterday at the NYSE… #bitcoin #BTC #ETH," one of the tweets which went viral on many best cryptocurrency news sites reads.As per analysis from Sam Doctor of Fundstrat, institutions and other entities in attendance were not only bullish on Bakkt but the broader Bitcoin and cryptocurrency market, too. In a recent Fundstrat research note to Twitter, Doctor explained that his first-hand experience of the event slated to be the first US regulated vehicle of its sort that is physically delivered. He pointed out to the Bakkt BTC futures, saying:
“As we have written before, Bakkt tackles many of the barriers to adoption for traditional investors seeking to expand their mandate to include crypto.”He also went on to write that there “appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch,” noting that the firm's sales team is starting to ramp up discussions with everyone from brokers and market makers. The news comes hot on the heels for Bakkt BTC futures. Earlier this year, the company made a series of hire as their "Careers" page noted. One job listing called for a mobile app developer which sparked a further discussion about Bakkt's plans post-Bitcoin futures. An excerpt from Bakkt.com reads:
“Whether between consumers and merchants or peers, the ability to conduct transactions in digital assets holds promise as a these new global currencies evolve beyond a store of value or speculative assets, and as distributed ledger technology scales. Bakkt is working with leading merchants who recognize the potential of digital assets.”Earlier reports have suggested that Starbucks may be one of the users of Bakkt's eventual payments solution which is most likely to involve Bitcoin. Currently, the Bitcoin and altcoin news show stability on the market after the wide breakout.
Bitcoin Retook $11,000 But Dropped Overnight
"If $btc goes to $100, it is game over. IT WON’T. It’s already established itself as a store of value. Stop wasting your time with these tweets and go outside and enjoy the summer. $btc is consolidating before its next move higher. Let it work for you."Hopefully the fan took the former hedge fund trader's advice because the price of Bitcoin rose about 5% at its best levels today. What's also hot in the altcoin news is Libra's pain which is seen as Bitcoin gains. The long-expected cryptocurrency and the rumors around it made a lot of waves in the community, leading Bitcoin to surge, fall, surge and fall. Even though many think that David Marcus has been the face of Libra, CNBC recently reported that a 26 year old named Morgan Beller is the actual head of strategy at Calibra (Libra's wallet) and was the main inspiration behind Facebook's crypto aspirations. The fact that Bitcoin retook the $11,000 level is also somehow linked to this. “Morgan was really the first one, at least to my understanding. She’s done a fantastic job of getting other people in the cryptocurrency communities to get on board with Libra. She has a very outsize value-add from that alone.” one researcher at CNBC stated. The Bitcoin price is off the highs on the day and is right now hovering at $10,600 on many exchanges which is why it is featured on many best cryptocurrency news sites.
Banks Are Afraid Of BTC And They Are Chasing Their Customers Away
“[Our] recent experience with RBC has been nothing short of horrible, and we just can’t deal with all the nonsense anymore.”Apparently, the user was very disappointed for a longer period of time and the banks deciding to stop serving users that make business with bitcoin was the last drop for the user. The email continues with more frustration saying:
“We need our bank to be a partner we can rely on who will help us be successful both personally and in business.”According to the client, banks are afraid of Bitcoin and the RBC was the perfect example of it. The person than listed the problems that he faced with the bank including the prolonged process involved in day-to-day checking on top of the difficulties during the process of opening an account for a family trust that runs a daycare. After sharing his story, he noted that the bank flagged him as suspicious since he owned cryptocurrencies and then he wrote:
“There is absolutely no way we can continue doing business with an institution who believes [they] can dictate what we can and cannot do with our money. Ironically, banks have been fined billions of dollars over the last few years over this.”As noted in the latest cryptocurrency news, Anthony Pompliano’s tweet received more than 3,000 likes and 900 retweets.
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- Big BTC Price Boom Will Bring To Consolidation: Market Experts
- Coinbase Closes Its Bundle Product After 8 Months On The Market
- Bitcoin Retests The $11,000 Range Holding A Strong Low Volume
- Facebook’s Head Of Blockchain Expects Libra To Be Governed By Swiss Law
- Bakkt BTC Futures Reached “Critical Mass” And Expected To Launch Soon
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